Get the free New York S Corporation Shareholders’ Information Schedule - tax ny

This document provides instructions for New York S Corporations and their shareholders regarding the completion of Form CT-34-SH, detailing tax modifications, credits, and filing requirements relevant

How to fill out new york s corporation

How to fill out New York S Corporation Shareholders’ Information Schedule

1. Begin by entering the name of the S Corporation at the top of the form.
2. Provide the Employer Identification Number (EIN) of the S Corporation.
3. List the shareholders' names in the designated section, including first names, last names, and middle initials.
4. Fill in the shareholders' Social Security Numbers (SSNs) or ITINs accurately.
5. Indicate the percentage of shares owned by each shareholder for the tax year.
6. Specify the types of shares owned, if necessary (common or preferred).
7. Provide shareholders' addresses in the appropriate fields.
8. If there are any non-resident shareholders, include their state of residence.
9. Complete the signature section certifying the accuracy of the information provided.
10. Make sure to double-check all entries for correctness before submitting.

Who needs New York S Corporation Shareholders’ Information Schedule?

1. Any S Corporation registered in New York State must complete this schedule.
2. Shareholders of the S Corporation who are required to report their ownership for tax purposes.
3. Accountants and tax professionals preparing tax returns for S Corporations in New York.
4. State regulators may need this information for compliance and tax assessment.

People Also Ask about

How is S Corp taxed in NY?

S-Corps 101 For example, all income in an S-corp is passed through to any shareholders and taxed at their individual tax rates. An S-corp's income is taxable for the shareholders when it is earned—whether or not the corporation distributes the income.

What is CT 34 SH?

Department of Taxation and Finance. New York S Corporation. Shareholders' Information Schedule.

How are S Corps taxed in New York?

S-Corps 101 For example, all income in an S-corp is passed through to any shareholders and taxed at their individual tax rates. An S-corp's income is taxable for the shareholders when it is earned—whether or not the corporation distributes the income.

How much tax will I pay on a S Corp?

What is the tax rate for S corporations? The annual tax for S corporations is the greater of 1.5% of the corporation's net income or $800. Note: As of January 1, 2000, newly incorporated or qualified corporations are exempt from the annual minimum franchise tax for their first year of business. (See below.)

What is 1120 shareholder information?

Schedule K-1 1120-S Form: Part II - Information about the Shareholder. This section contains information about the shareholder and their investment in the corporation. Specifically, this section identifies the percentage of stock ownership that the shareholder has for the tax year.

Who needs to file NYC 4S?

FILE FORM NYC-4S Corporations (as defined in Section 11- 602.1 of the New York City Administra- tive Code) doing business, employing capital, or owning or leasing property in a corporate or organized capacity, or main- taining an office in New York City must file a General Corporation Tax return.

How much is the S Corp fee in NY?

For S-corporations, the FDM tax is based on the corporation's New York State receipts and is as follows: $25 – Receipts not exceeding $100,000. $50 – Receipts exceeding $100,000 but not more than $250,000. $175 – Receipts exceeding $250,000 but not more than $500,000.

Is an S Corp worth it in NYC?

One of the key advantages of an S Corp in New York is the potential for tax savings. While S Corps, like LLCs, benefit from pass-through taxation (where income is passed through to shareholders and taxed at their individual rates), S Corps do not pay corporate income tax like C-corporations do.

For pdfFiller’s FAQs

What is New York S Corporation Shareholders’ Information Schedule?

The New York S Corporation Shareholders’ Information Schedule is a form used by S corporations to report information regarding their shareholders to the New York State Department of Taxation and Finance. It includes details about each shareholder's income and tax-related information.

Who is required to file New York S Corporation Shareholders’ Information Schedule?

Any S corporation doing business in New York State is required to file the New York S Corporation Shareholders’ Information Schedule if it has shareholders during the tax year.

How to fill out New York S Corporation Shareholders’ Information Schedule?

To fill out the schedule, the corporation must provide information such as the names and addresses of shareholders, their share of the corporation's income, deductions, and credits, and any other relevant financial information according to the instructions provided by the New York Department of Taxation and Finance.

What is the purpose of New York S Corporation Shareholders’ Information Schedule?

The purpose of the New York S Corporation Shareholders’ Information Schedule is to ensure accurate reporting of income distributed to shareholders, which is necessary for determining their individual tax liabilities.

What information must be reported on New York S Corporation Shareholders’ Information Schedule?

The information that must be reported includes the names and addresses of the shareholders, their percentage of ownership, the amount of income allocated to each shareholder, any deductions, and credits that apply, as well as other relevant tax data.