There is no such syntax in SQL Server, though CREATE TABLE AS ... SELECT does exist in PDW. In SQL Server you can use this query to create an empty table:
SELECT * INTO schema.newtable FROM schema.oldtable WHERE 1 = 0;
(If you want to make a copy of the table including all of the data, then leave out the WHERE clause.)
Note that this creates the same column structure (including an IDENTITY column if one exists) but it does not copy any indexes, constraints, triggers, etc.