Get the free CT-3-S-I - tax ny

This document provides detailed instructions for completing the New York S Corporation Franchise Tax Return (Form CT-3-S) and its attachment (CT-3-S-ATT). It includes sections on who must file, when

How to fill out ct-3-s-i - tax ny

How to fill out CT-3-S-I

1. Begin by downloading the CT-3-S-I form from the New York State Department of Taxation and Finance website.
2. Fill out the entity's name and identification number at the top of the form.
3. Provide the address of the business in the designated section.
4. Indicate the tax period for which you are filing the form.
5. Complete the section regarding the total income and expenses relevant to the tax period.
6. Calculate the credits that the business is eligible for, and enter these in the appropriate fields.
7. Review the form for accuracy and completeness to avoid mistakes.
8. Sign and date the form before submission.
9. Submit the completed form by the required due date.

Who needs CT-3-S-I?

1. CT-3-S-I is needed by S corporations operating in New York State that are required to file a tax return.
2. Businesses looking to report their income, expenses, and applicable credits must complete this form.

People Also Ask about

What is NY fixed dollar minimum tax?

Tax bases and rates If New York City Receipts are:Fixed Dollar Minimum Tax is: Not more than $100,000 $25 More than $100,000 but not over $250,000 $75 More than $250,000 but not over $500,000 $175 More than $500,000 but not over $ 1 million $5008 more rows

What is the difference between C Corp and S corp taxes?

Form CT-3-M, General Business Corporation MTA Surcharge Return, must be filed by any corporation taxable under Article 9-A that does business, employs capital, owns or leases property, maintains an office, or derives receipts from activity, in the Metropolitan Commuter Transportation District (MCTD).

What is the difference between CT-3 and CT-3S?

Once the Tax Department approves a corporation to be treated as a New York S corporation, it must file Form CT-3-S instead of Form CT-3, General Business Corporation Franchise Tax Return. Form CT-3-S is used to pay the entity level franchise tax under Article 9-A.

Who must file NY CT 3?

Form CT-3-M, General Business Corporation MTA Surcharge Return, must be filed by any corporation taxable under Article 9-A that does business, employs capital, owns or leases property, maintains an office, or derives receipts from activity, in the Metropolitan Commuter Transportation District (MCTD).

Where to mail CT 3s?

Corporate income tax mostly varies from its individual counterpart in that it is a tax on profits, not gross income. It is a flat tax rate of 21 percent, whereas individual income taxes are based on seven marginal tax rates ranging from 10 to 37 percent — depending on income.

For pdfFiller’s FAQs

What is CT-3-S-I?

CT-3-S-I is the New York State Department of Taxation and Finance's S Corporation Franchise Tax Return for S corporations operating in New York State.

Who is required to file CT-3-S-I?

S corporations that have taxable income or have elected to be treated as S corporations for federal tax purposes and are doing business in New York must file CT-3-S-I.

How to fill out CT-3-S-I?

To fill out CT-3-S-I, businesses need to provide information such as their federal employer identification number, total income, deductions, and any applicable credits, ensuring all sections are completed accurately.

What is the purpose of CT-3-S-I?

The purpose of CT-3-S-I is to compute and report the franchise tax liability for S corporations in New York, ensuring compliance with state tax regulations.

What information must be reported on CT-3-S-I?

CT-3-S-I requires reporting of business income, deductions, modifications to federal taxable income, tax credits, and the amount of tax due or refund expected.