Get the free CT-33-C Captive Insurance Company - tax ny

This document serves as the Franchise Tax Return for Captive Insurance Companies in New York State under Tax Law Article 33, detailing required information for tax reporting and payment calculations.

How to fill out ct-33-c captive insurance company

How to fill out CT-33-C Captive Insurance Company

1. Obtain form CT-33-C from the New York State Department of Taxation and Finance website.
2. Enter your Captive Insurance Company's name, address, and Employer Identification Number (EIN) at the top of the form.
3. Fill out the applicable sections regarding asset and liability information as required.
4. Provide detailed information on premiums written for the tax year.
5. Calculate the tax based on the instructions provided in the form.
6. Complete any required schedules or attachments.
7. Review the form for accuracy and completeness before signing.
8. Submit the form to the appropriate tax authority along with any required payment.

Who needs CT-33-C Captive Insurance Company?

1. Captive insurance companies registered in New York that are required to report and pay taxes on their insurance activities.
2. Businesses that operate captives to manage risk and insurance liabilities.
3. Investment groups or entities that wish to establish a captive insurance company for their operational needs.

People Also Ask about

What is a captive insurance company?

Cons of a Captive Insurance Plan Increased risk – With a captive, the owner-insureds put their own capital at risk. If a company experiences a high number of claims, that capital could be lost. This is why it's important to have robust risk management policies.

What is the purpose of a captive insurance company?

A captive insurance company is a wholly-owned subsidiary insurer formed to provide risk mitigation services for its parent company or related entities. Companies form “captives” for various reasons, such as when: The parent company cannot find a suitable outside firm to insure it against particular business risks.

What is the downside of captive insurance?

In a traditional insurance program, the insurance carriers take on all risks and retain all profits. With captive insurance, the captive participants share in the risk for a potential reward of lower costs, underwriting profits, and investment incomes.

What is an example of a captive company?

Cons of a Captive Insurance Plan Increased risk – With a captive, the owner-insureds put their own capital at risk. If a company experiences a high number of claims, that capital could be lost. This is why it's important to have robust risk management policies.

For pdfFiller’s FAQs

What is CT-33-C Captive Insurance Company?

CT-33-C Captive Insurance Company is a regulatory document used by companies that operate captive insurance businesses in the state of New York. It is a tax return for captive insurance companies that outlines their financial activities.

Who is required to file CT-33-C Captive Insurance Company?

Captive insurance companies that are registered in New York and that meet specific criteria for doing business in the state are required to file the CT-33-C form.

How to fill out CT-33-C Captive Insurance Company?

To fill out CT-33-C, you must provide financial information regarding premiums, losses, expenses, and any exemptions applicable. Detailed instructions are generally included with the form, and it is advised to consult a tax professional for accurate completion.

What is the purpose of CT-33-C Captive Insurance Company?

The purpose of the CT-33-C form is to assess and collect state taxes from captive insurance companies operating in New York, ensuring compliance with state insurance laws and regulations.

What information must be reported on CT-33-C Captive Insurance Company?

The CT-33-C requires reporting of various financial details, including gross premiums written, losses incurred, expenses, policyholder dividends, and other relevant financial metrics pertinent to the captive insurance operations.