Get the free CT-3-S/4-S-I - tax ny

New York S Corporation Franchise Tax Returns and Attachment - Instructions detailing who must file, when to file, penalties, and how to complete various forms associated with S Corporation tax filings

How to fill out ct-3-s4-s-i - tax ny

How to fill out CT-3-S/4-S-I

1. Obtain the CT-3-S/4-S-I form from the New York State Department of Taxation and Finance website.
2. Fill out the identifying information in the first section, including your business name, address, and Employer Identification Number (EIN).
3. Provide the necessary financial information in the allocated spaces, such as total income, deductions, and credits.
4. Complete any additional sections relevant to your business type and activities.
5. Review your entries for accuracy and completeness.
6. Sign and date the form where indicated.
7. Submit the form by the due date, either electronically or via mail, to the specified address.

Who needs CT-3-S/4-S-I?

1. Corporations that have elected to be treated as S corporations for federal tax purposes.
2. Tax-exempt organizations that need to file a return for New York State tax purposes.
3. Businesses operating in New York that meet the filing criteria set by the state.

People Also Ask about

What is tax form CT-3?

Corporate tax filing requirements All New York C corporations subject to tax under Tax Law Article 9-A must file using the following returns, as applicable: Form CT-3, General Business Corporation Franchise Tax Return.

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.)

How much is the S corp fee in NY?

New York receipts of:Fixed dollar minimum tax equals: Not more than $100,000 $25 More than $100,000 but not over $250,000 $50 More than $250,000 but not over $500,000 $175 More than $500,000 but not over $1,000,000 $3003 more rows • Feb 12, 2025

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 is an 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.

Are you double taxed as an S corp?

Shareholders of S corporations report the flow-through of income and losses on their personal tax returns and are assessed tax at their individual income tax rates. This allows S corporations to avoid double taxation on the corporate income.

For pdfFiller’s FAQs

What is CT-3-S/4-S-I?

CT-3-S/4-S-I is a form used by S corporations in New York State to report income, deductions, and other tax-related information.

Who is required to file CT-3-S/4-S-I?

S corporations operating in New York, including those that have elected S corporation status, are required to file CT-3-S/4-S-I.

How to fill out CT-3-S/4-S-I?

To fill out CT-3-S/4-S-I, provide required information such as business name, address, and federal employer identification number, and report income, deductions, and tax credits as instructed on the form.

What is the purpose of CT-3-S/4-S-I?

The purpose of CT-3-S/4-S-I is to report the financial activities and tax obligations of S corporations to the New York State Department of Taxation and Finance.

What information must be reported on CT-3-S/4-S-I?

CT-3-S/4-S-I requires reporting of the corporation's income, deductions, tax credits, and any applicable adjustments or modifications to federal taxable income.