Effective for tax years beginning on or after January 1, 2001, Tax Law section 606(s) allows a credit to eligible taxpayers for the purchase of an automated external defibrillator, as defined under Public Health Law section 3000-b. You may claim the credit for each automated external defibrillator you purchased. However, you may not claim the credit for an automated defibrillator purchased for resale during the year. The credit is not refundable, and you may not carry any unused credit forward to future years.
Who is eligible – individuals – estates or trusts – partners in a partnership (including members of an LLC treated as a partnership for federal income tax purposes) – shareholders of a New York S corporation – beneficiaries of an estate or trust.
How to claim the credit
File Form IT-250 if you are an individual, a partnership, or an estate or trust and you qualify for the credit. In addition, if you are a partner in a partnership (including members of an LLC treated as a partnership for federal tax purposes), a shareholder of a New York S corporation, or a beneficiary of an estate or trust, file Form IT-250 to claim your share of the credit from your entity.
A partnership must file Form IT-250 with Form IT-204, Partnership Return, showing the partnership’s total credit for the purchase of an automated external defibrillator(s).
An S corporation cannot file Form IT-250. It must file Form CT-250, Credit for Purchase of an Automated External Defibrillator. If you are a shareholder of a New York S corporation, obtain your share of the S corporation’s credit from the S corporation, and report it on Form IT-250, Schedule C.
Amount of credit
The credit is equal to the lesser of the purchase cost of the unit, or $500. There is no limit on the number of units purchased during the tax year for which the credit may be taken. However, the credit cannot exceed $500 for each unit purchased.