A New York State corporate general business tax return, or insurance return is prepared for calendar, fiscal and short year corporate returns. Using entries from the federal tax return New York input, the following forms are produced for the New York return:
Fort CT-2, Corporation Tax Return Summary
Form CT-3, New York State Corporation Franchise Tax Return
Form CT-3.1, Investment and Other Exempt Income and Investment Capital
Form CT-3.2, Subtraction Modification for Qualified Banks
Form CT-3.3, Prior Net Operating Loss Conversion (PNOLC) Subtraction
Form CT-3.4, Net Operating Loss Deduction (NOLD)
Form CT-3M, MTA General Business Corporation Tax Surcharge
Form CT-5, Request for Six-Month Extension
Form CT-5.1, Request for Additional Extension Time to File
Form CT-6, Election to be Treated as a New York S Corporation
Form CT-33, Life Insurance Franchise Tax Return *
Form CT-33-C, Captive Insurance Company Franchise Tax Return *
Form CT-33-D, Tax on Premiums Paid pr Payable To an Unauthorized Insurer
Form CT-33-NL, Non-Life Insurance Franchise Tax return *
Form CT-33-M, Insurance Corporation MTA Surcharge Return *
Form CT-33-R, Claim for Retaliatory Tax Credit *
Form CT-33.1, Claim for CAPCO Credit
Form CT-43, Claim for Special Additional Mortgage Recording Tax Credit
Form CT-46, Claim for Investment Tax Credit
Form CT-60, Affiliated Entity Information Schedule
Form CT-222, Underpayment of Estimated Tax
Form CT-222.1, Election to Use Different Election Periods for Corporate Estimated Tax
Form CT-223, Innovation Hot Spot Deduction
Form CT-225, NY State Modification
Form CT-227, Voluntary Contribution
Form CT-241, Claim for Clean Heating Fuel Credit
Form CT-249, Claim for Long-Term Care Insurance Credit
Form CT-300, Mandatory First Installment (MFI)
Form CT-399, Depreciation Adjustment Schedule
Form CT-400-MN, Estimated Tax for Corporations
Form CT-501, Temporary Deferral Nonrefundable Payout Credit
Form CT-600, Ordering of Corporation Tax Credits
Form CT-601, Claim for EZ Wage Tax Credit
Form CT-602, Claim for EZ Capital Tax Credit
Form CT-604, Claim for QEZE Tax Reduction Credit
Form CT-604CP, Claim QEZE Credit for Corporate Partners
Form CT-606, Claim for QEZE Credit for Real Property Taxes
Form DTF-621, Claim for QETC employment Credit
Form CT-635, New York Youth Job Program Credit
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Form DTF-686, Tax Shelter Reportable Transactions
Form IT-204-LL, LLC/LLP Filing Fee (Disregarded Entities)
Form POA-1, Power of Attorney
A copy of the federal return is provided for filing with the New York State and City returns.
Federal Features
Common State Data
The State Common Data forms provide a centralized location to create state returns and to enter data common to all states and cities. Following is a description of each series of input forms and how they interact with processing a New York return.
State/City Generation Forms
A state or city return may simply be processed by selecting the states or cities you wish to include with your federal return on
the State/City Generation worksheet under the Common State category. No additional entries on state/city input forms are required. This provides a centralized location to manage your single or multi-state returns.
If you wish to delete a state or city from your return after you created and processed it using the State/City Generation forms, uncheck the applicable field on these forms and use the Delete State feature in the Edit menu.
General Information Forms
These forms are used to enter data common to all states and cities returns. They provide a centralized location and generic format to simplify entering state and city data. Not all state and city data are contained here. Fields which are unique or not shared by a group of entities is still located on unique state and city input forms.
When using these forms an entry is mandatory in the State/City Code field. Presence of data on this form will NOT create a state or city return. These may only be created in two ways:
Selecting states or cities onthe State/City section of the Common Data worksheet
Presence of state/city level input forms
You may designate data to apply to a particular state/city return or you can indicate for it to apply to all of the state/city returns present. To flag your entries to a particular state/city, enter the state/city code from the pick list in the State/City Code field. To apply your input to all of the states and cities present make an "ALL" entry in the State/City Code field.
There are 3 levels of default for the General Information input series:
The first level is to the Basic Data entered with the federal return. This applies only to selected fields. Specifically those followed with word "override" on the worksheet form. For example, if no entries are made on General Information input series for date of incorporation, the states/cities will default to the incorporation date on
the federal Basic Data worksheet.
The second level is to Common Data input with a state/city code of "ALL". "ALL" code means it applies to every state and city in the return, unless a unique state/city code is present. For example, if you make an entry for the incorporation date on
the General Information section of the State/City Common Data worksheet which is different from the federal, all the states will default to the "ALL" coded date and ignore the federal date. However, if a General Information entry is also present with a different date and a state code of NY, then New York will pick up the NY coded date and ignore the federal date and the General Information entry date coded "ALL".
The third level is to the General Information input with a specific state/city code. If both an "ALL" occurrence and a specific state/city entry is present, data must be present in a particular field of the unique state/city occurrence or the default to "ALL" entry for that field will still take place. For example, you have entered the General Information form coded "ALL" which contains an entry for Telephone Number. You have also entered a General Information form coded NY and make only one entry to indicate that it is an initial return for New York. The New York program will pick up your initial return entry and also the telephone number from your "ALL" entry, since no telephone number was entered with the NY occurrence.
State Tax Payments
Use
The State Tax Payments worksheet under the Payment/Penalty category to enter estimated tax payments, withheld amounts, and various other tax payments for NY. Any payment made after the due date of the return will not be used n the computation of the underpayment penalty but will be used in the computation of the late interest penalty. An entry in the State Code field is mandatory. Not all fields apply to all states. Once an entry of NY is made in this field, we will allow you to only land on those fields which are applicable to NY. Presence of data on this form will NOT create a state return.
Taxes Paid Based on Income: If you have identified yourself as a Cash Basis taxpayer, your entries in the columns for Taxes Based on Income to the Taxes and Licenses deduction line on page 1 of the federal return. We identify you as Cash Basis taxpayer if your accounting method is identified as cash on
the Miscellaneous Information section of the Basic Data worksheet, and the State Tax Accrual option has NOT been selected on
the Processing Option section of the Basic Data worksheet. Your entries here will also be used by NY in arriving at the applicable state tax deductions and/or addable to federal income. Any entries on
the Taxes and Licenses section of the Business worksheet will be in addition to your entries in these fields. You may override this treatment of the detailed state and city tax payments for all states in your return by making an entry in the field entitled Suppress Carrying of Detailed State/City Tax Payments for Cash Basis Taxpayers on
the Processing Options section of the Return Option worksheet. or by selecting the same option in
the Return Configuration Set. You may also suppress this treatment on a state by state basis by making an entry in the field entitled Suppress Carrying of This State's Tax Payments on
the State Tax Payments Worksheet
If you are an Accrual Basis taxpayer, your entries in the columns for Taxes Based on Income and/or Not Based On Income will NOT be carried to the Taxes and Licenses deduction line on page 1 of the federal return or used to determine any state addbacks or tax deductions. We identify you as an Accrual Basis taxpayer if your accounting method is identified as accrual on
the Miscellaneous Information section of the Basic Data worksheet, or the State Tax Accrual option has been selected on
the Processing Option section of the Basic Data worksheet.
State Estimated Tax Forms
Enter the estimated tax information for NY
on the Estimates and Application of Overpayment worksheet under the Payment/Penalty category.
Penalty Forms
Use these forms to enter penalty information for NY. We produce detail schedules of the late payment interest and late payment and late filing penalties. (The late filing penalty will only be computed if the late payment penalty is computed.) Any estimated tax payment made after the due date of the return will not be used in the computation of the underpayment penalty but will be used in the computation of the late interest and penalty computation. The late filing penalty will only be computed if the late payment penalty is computed.
Late interest and penalty information is entered on the State/City Interest and Penalty worksheet and underpayment of estimated tax data is entered in the State / City Underpayment Penalty worksheet under the Payment/Penalty category
Enter NY in the field entitled State Code. This is a required entry. No assumption to the state code is made by the program. An entry in the State Code field is mandatory. Not all fields apply to all states. We will allow you to only land on those fields which are applicable to your entry in the State Code field. Presence of data on this form will NOT create a state return.
Federal Multiple State Apportionment
Information to compute the Business Allocation percentage (BAP) for General business, aviation and trucking companies (taxable under Article 9-A) may be entered using the federal MST series of forms. The following is a cross reference of lines on the New York Forms to lines on the MST forms. Refer also to the New York State Cross reference.
Business Allocation Processing Defaults
Form CT-3
Unless the air freight forwarder check box in the Allocation Elections and Overrides Section of the New York Allocation Percentage Worksheet is checked, property and wage entries are ignored when computing the New York BAP.
New York State Amounts. There are no processing defaults. The New York amounts must be entered using
the Allocation and Apportionment worksheet. Entries made for New York City and the MTA surcharge do not carry as New York State amounts.
Total Everywhere Amounts. Amounts entered for each state on the Allocation and Apportionment worksheets are totaled to arrive at the "Total everywhere" although they may be overridden directly on the related factor worksheet, or by using the Allocation and Apportionment - Total Everywhere Overrides worksheet.
Form CT-3 General Business (Aviation, Railroad or Trucking Company)
There are no processing defaults. Use
the Transportation Allocation and Apportionment worksheet to provide revenue arrivals, revenue tons, originating revenue or revenue miles
Form CT-3M
The following defaults for Form CT-3M, Schedule A apply when allocation information is present for New York and/or New York City.
MCTD - Column A. If this is a multiple state return and no MCTD amounts are entered on the
Allocation and Apportionment worksheet amounts entered for New York State carry to New York City (if present) and the MTA Surcharge Return. Thus, if inventory is the same for New York State, New York City, and MCTD, it only needs to be entered once - the New York State amount is used for both the New York City and MCTD purposes.
If this is not a multiple state return and no MCTD amounts are entered on the
Allocation worksheet, the New York City amounts (if present) carry to the MTA Surcharge Return.
NYS - Column B. If this is a multiple state return, the New York State amounts entered carry to the MTA Surcharge Return.
Request for Extension
The following extensions may be requested by using
the State section of the federal Extension worksheet.
Form CT-5, Application for Six-Month Extension
Form CT-5.1, Application for Additional Extension of Time
Enter the state code "NY" on
the State section of the Extension worksheet to produce Form CT-5 from information computed on the applicable New York tax return. The following fields are available to override the computed amounts for both state and MTA purposes:
Tentative tax
Estimated installment payments for the tax year
Mandatory first installment
To produce Form CT-5.1, enter a "3" in the Special Code field of
the State section of the Extension worksheet.
Request for Elections
The following election may be requested by using
the Election of a Small Business worksheet:
Form CT-6, Election to be Treated as a New York S Corporation
You may use the FS and State codes to create the New York election.