Ct 3 S Form – Fill Out and Use This PDF

The CT-3-S New York S Corporation Franchise Tax Return is an essential document for S Corporations operating in New York State, mandating the reporting of income, deductions, and credits to the Department of Taxation and Finance under Tax Law – Articles 9-A and 22. Its requirements include a comprehensive set of information ranging from basic corporate details to specific financial declarations, aimed at calculating the franchise tax owed based on the corporation’s income and activities within the state. For businesses navigating through these obligations, the timely and accurate completion of this form is crucial in fulfilling state tax liabilities.

Ensure your S Corporation is in compliance and avoids any potential penalties by clicking the button below to fill out and submit your CT-3-S form promptly.

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Ct 3 S Form PDF Details

The CT-3-S Form is a critical document for S corporations in New York, facilitating compliance with state franchise tax requirements. This form, issued by the Department of Taxation and Finance, is designed to report income, deductions, and credits to New York State under the guidelines of Tax Law – Articles 9-A and 22. It covers several pivotal sections such as federal Form 1120S information alignment, computation of tax, and details on shareholders and business activities. Marking whether the return is a final, amended, or standard annual submission is essential for accurate processing. S corporations must meticulously report their income, losses, and shareholder distributions. Additionally, specific elections or changes in corporate status, such as revoking the S corporation election or making significant transactions that could impact tax obligations, must be disclosed. The form also navigates through computations of New York receipts to determine the fixed dollar minimum tax and other tax credits. Beyond financial figures, it delves into apportionment factors, reflecting the business's economic nexus within New York State. Ensuring precise and comprehensive completion of the CT-3-S Form is paramount for S corporations striving to meet New York's taxation rules and avoid potential penalties.

Question	Answer
Form Name	Ct 3 S Form
Form Length	6 pages
Fillable?	No
Fillable fields	0
Avg. time to fill out	1 min 30 sec
Other names	form ct 3 s 2020, how to ct 3 s, nys tax form ct 3 s, 2020 ct 3s

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Department of Taxation and Finance	CT-3-S
New York S Corporation Franchise Tax Return	CT-3-S
Tax Law – Articles 9-A and 22
All filers must enter tax period:

Final return (see instructions)

Amended return			beginning

ending

Employer identification number (EIN)

File number

Business telephone number

()

If you claim an overpayment,

mark an X in the box ...................................

Legal name of corporation

Trade name/DBA

Mailing address

State or country of incorporation

Care of (c/o)

Number and street or PO box

Date of incorporation

Foreign corporations: date began business in NYS

City

U.S. state/Canadian province

ZIP/Postal code

Country (if not United States)

For office use only

NAICS business code number (from NYS Pub 910)

If you need to update your address or

New York S election effective date

phone information for corporation tax,

NYS principal business activity

or other tax types, you can do so online.

See Business information in Form CT-1.

Has the corporation revoked its election to be treated as a New York

S corporation?

Number of shareholders

Yes

If Yes, enter effective date:

A Pay amount shown on Part 2, line 46. Make payable to: New York State

Corporation Tax

Payment enclosed

Attach your payment here. Detach all check stubs. (See instructions for details.)

You must attach a copy of the following: (1) federal Form 1120S as filed; (2) Form CT-34-SH; (3) Form CT-60, if applicable;

(4) any applicable credit claim forms, (5) Form CT-225, if applicable; and (6) Form CT-227, if applicable.

B	If you filed a return(s) other than federal Form 1120S, enter the form number(s) here
C	Enter your business apportionment factor (from Part 3, line 56)
D	Did the S corporation make an IRC section 338 or 453 election?	Yes
E	Did this entity have an interest in real property located in New York State during the last three years?	Yes
F	Has there been a transfer or acquisition of a controlling interest in this entity during the last three years?	Yes
G
G	If the IRS has completed an audit of any of your returns within the last five years, list years....

HIf this return is for a New York S termination year, mark an X in the appropriate box to indicate which method of accounting was used for the New York S short year (see New York S corporation termination year in instructions)

Normal accounting rules

Daily pro rata allocation

I Mark an X in the box if you are filing Form CT-3-S as a result of the mandatory New York S election of Tax Law, Article 22, section 660(i)..

J	If you are one of the following, mark an X in one box:	QETC	Qualified New York manufacturer
K	If you filed as a New York C corporation in previous years, enter the last year filed as such
			.........................................

L	Are you a residual interest holder in a real estate mortgage investment conduit (REMIC)?			Yes	No
M	Enter the amount, if any, of tax paid from federal Form 1120S, line 22c

NIf you include the activities of a qualified subchapter S subsidiary (QSSS), partnership, single member limited liability

company (SMLLC), or DISC in this return, or have other affiliated entities, mark an X in the box and attach Form CT-60 ......

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Page 2 of 6 CT-3-S (2021)

OWere you required to report any nonqualified deferred compensation, as required by IRC § 457A, on your

2021 federal return? (see instructions)

Yes

PIf you are a foreign corporation computing your tax taking into account only your distributive shares from multiple limited

partnerships, mark an X in the box ...........................................................................................................................................

Q If you made a voluntary contribution to any available funds, mark an X in the box and attach Form CT-227 ..............................

Part 1 – Federal Form 1120S information

Provide the information for lines 1 through 10 from the corresponding lines on your federal Form 1120S, Schedule K, total amount column. (Show any negative amounts with a minus (-) sign; do not use parentheses or brackets.)

1Ordinary business income or loss...................................................................................................

2Net rental real estate income or loss...............................................................................................

3Other net rental income or loss.......................................................................................................

4 Interest income................................................................................................................................

5Ordinary dividends........................................................................................................................... 6 Royalties.......................................................................................................................................... 7 Net short-term capital gain or loss................................................................................................... 8 Net long-term capital gain or loss.................................................................................................... 9 Net section 1231 gain or loss..........................................................................................................

10Other income or loss.......................................................................................................................

11Loans to shareholders (from federal Form 1120S, Schedule L, line 7, columns b and d)

Beginning of tax year

End of tax year

12Total assets (from federal Form 1120S, Schedule L, line 15, columns b and d)

Beginning of tax year

End of tax year

13Loans from shareholders (from federal Form 1120S, Schedule L, line 19, columns b and d)

Beginning of tax year

End of tax year

Provide the information for lines 14 through 21 from the corresponding lines on your federal Form 1120S, Schedule M-2.

(Show any negative amounts with a minus (-) sign; do not use parentheses or brackets.)

14Balance at beginning of

tax year................................

15Ordinary income from federal

Form 1120S, page 1, line 21..

16Other additions........................

17Loss from federal Form 1120S,

page 1, line 21.....................

18Other reductions......................

19Combine lines 14 through 18...

20Distributions..............................

21Balance at end of tax year.

Subtract line 20 from line 19...

Accumulated adjustments

account

Shareholders’

undistributed taxable

income previously taxed

Accumulated earnings

and profits

Other adjustments

account

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		CT-3-S (2021)		Page 3 of 6

Part 2 – Computation of tax (see instructions)

Have you been convicted of an offense, or are you an owner of an entity convicted of an offense, defined in
New York State Penal Law Article 200 or 496, or section 195.20? (see Form CT-1, mark an X in one box)			Yes		No


You must enter an amount on line 22; if none, enter 0.
22	New York receipts (from Part 3, line 55, column A (New York State))	22
23	Fixed dollar minimum tax (see instructions)	23
24	Recapture of tax credits (see instructions)	24
25	.............................................................Total tax after recapture of tax credits (add lines 23 and 24)	25
26	Special additional mortgage recording tax credit (current year or deferred; see instructions)	26
27	.......................................................................Tax due after tax credits (subtract line 26 from line 25)	27

First installment of estimated tax for the next tax period:

28	Enter amount from line 27	28
29	If you filed a request for extension, enter amount from Form CT-5.4, line 2	29

30If you did not file Form CT-5.4 and line 28 is over $1,000, enter 25% (.25) of line 28.

	Otherwise enter 0			30
	Otherwise enter 0			30
31	............................................................................................................Add line 28 and line 29 or 30			31
Composition of prepayments (see instructions):		Date paid	Amount
32	Mandatory first installment	32
33	Second installment from Form CT-400	33
34	Third installment from Form CT-400	34
35	Fourth installment from Form CT-400	35

36Payment with extension request from

37	Form CT-5.4	36
37	Overpayment credited from prior years (see instructions)		37
38	......................................................................................Total prepayments (add lines 32 through 37)				38
39	...........................................Balance (subtract line 38 from line 31; if line 38 is larger than line 31, enter 0)
40	Estimated tax penalty (see instructions; mark an X in the box if Form CT-222 is attached)			...............	40
41	Interest on late payment (see instructions)				41
42	Late filing and late payment penalties (see instructions)				42
43	........................................................................................................Balance (add lines 39 through 42)				43
Voluntary gifts/contributions
44	Total voluntary gifts/contributions (from Form CT-227, Part 2, line 1)				44
45	Add lines 31, 40, 41, 42, and 44				45

46Balance due (If line 38 is less than line 45, subtract line 38 from line 45 and enter here. This is the amount

due; enter your payment amount on line A on page 1.)

47Overpayment (If line 38 is more than line 45, subtract line 45 from line 38 and enter here. This is the

	amount of your overpayment; see instructions.)	47
48	Amount of overpayment to be credited to next period (see instructions)	48
49	Refund of overpayment (subtract line 48 from line 47; see instructions)	49
50	Refund of unused special additional mortgage recording tax credit (see instructions)	50

51Amount of special additional mortgage recording tax credit to be applied as an overpayment to

next period

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Page 4 of 6 CT-3-S (2021)

Part 3 – Computation of business apportionment factor (see instructions)

Mark an X in this box only if you have no receipts required to be included in the denominator of the apportionment factor (see instr.)....

A – New York State

B – Everywhere

Section 210-A.2
1	Sales of tangible personal property	1
2	Sales of electricity	2
3	...................................................Net gains from sales of real property	3
Section 210-A.3
4	Rentals of real and tangible personal property	4
5	Royalties from patents, copyrights, trademarks, and similar intangible	5
6	personal property	5
6	Sales of rights for certain closed-circuit and cable TV transmissions
	of an event	6
Section 210-A.4
7	Sale, licensing, or granting access to digital products	7

Section 210-A.5(a)(1) – Fixed percentage method for qualified financial instruments (QFIs)

8 To make this irrevocable election, mark an X in the box (see instructions)

Section 210-A.5(a)(2) – Mark an X in each box that is applicable (see line 8 instructions)

Section 210-A.5(a)(2)(A)
9	Interest from loans secured by real property
10	Net gains from sales of loans secured by real property
11	Interest from loans not secured by real property (QFI	.............. )

12Net gains from sales of loans not secured by real property (QFI ).

Section 210-A.5(a)(2)(B) (QFI )

13	Interest from federal debt
14
15	Interest from NYS and its political subdivisions debt
16	Net gains from federal, NYS, and NYS political subdivisions debt
17	Interest from other states and their political subdivisions debt
18	Net gains from other states and their political subdivisions debt
Section 210-A.5(a)(2)(C) (QFI		)

19Interest from asset-backed securities and other government agency debt.

20Net gains from government agency debt or asset-backed securities


21	sold through an exchange
	Net gains from all other asset-backed securities
Section 210-A.5(a)(2)(D) (QFI		)
22	Interest from corporate bonds

23Net gains from corporate bonds sold through broker/dealer or

licensed exchange ............................................................................

24 Net gains from other corporate bonds .................................................

Section 210-A.5(a)(2)(E)

25Net interest from reverse repurchase and securities borrowing agreements.

Section 210-A.5(a)(2)(F)

26	Net interest from federal funds
Section 210-A.5(a)(2)(I) (QFI		)
27	Net income from sales of physical commodities
Section 210-A.5(a)(2)(J) (QFI		)
28	Marked to market net gains
Section 210-A.5(a)(2)(H) (QFI		)
29	210-A.5(a)(2)(G) (QFI	)
	Interest from other financial instruments
30	Net gains and other income from other financial instruments

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				CT-3-S (2021) Page 5 of 6

Part 3 – Computation of business apportionment factor (continued)

			A – New York State		B – Everywhere
Section 210-A.5(b)
Section 210-A.5(b)
31	Brokerage commissions	31
32	Margin interest earned on behalf of brokerage accounts	32
33	Fees for advisory services for underwriting or management of underwriting .	33
34	Receipts from primary spread of selling concessions	34
35	Receipts from account maintenance fees	35
36	Fees for management or advisory services	36
37	...................................................Interest from an affiliated corporation	37
Section 210-A.5(c)
38	Interest, fees, and penalties from credit cards	38
39	Service charges and fees from credit cards	39
40	Receipts from merchant discounts	40
41	Receipts from credit card authorizations and settlement processing ...	41
42	..................................................Other credit card processing receipts	42
Section 210-A.5(d)
43	Receipts from certain services to investment companies	43
Section 210-A.5-a
44	Global intangible low-taxed income	44	0	00
Section 210-A.6
45	Receipts from railroad and trucking business	45
Section 210-A.6-a
46	Receipts from the operation of vessels	46
Section 210-A.7
47	Receipts from air freight forwarding	47
48	..................................................Receipts from other aviation services	48
Section 210-A.8
49	Advertising in newspapers or periodicals	49
50	Advertising on television or radio	50
51	Advertising via other means	51
Section 210-A.9
52	Transportation or transmission of gas through pipes	52
Section 210-A.10
53	Receipts from other services/activities not specified	53
Section 210-A.11
54	Discretionary adjustments	54
Total receipts
55	Add lines 1 through 54 in columns A and B	55

Calculation of business apportionment factor

56New York State business apportionment factor (divide line 55, column A by line 55, column B and enter

the resulting decimal here; round to the sixth decimal place after the decimal point; see instructions)

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Page 6 of 6 CT-3-S (2021)

Amended return information

If filing an amended return, mark an X in the box for any items that apply and attach documentation.

Final federal determination

If marked, enter date of determination:

Third – party

Yes

Designee’s name (print)

Designee’s phone number

(

)

designee

Designee’s email address

(see instructions)

Certification: I

certify that this return and any attachments are to the best of my knowledge and belief true, correct,

and

complete.

Authorized

Printed name of authorized person

Signature of authorized person

Official title

person

Email address of authorized person

Telephone number

Date

(

)

Paid

Firm’s name (or yours if self-employed)

Firm’s

EIN

Preparer’s PTIN or SSN

preparer

use

Signature of individual preparing this return

Address

City

State

ZIP code

only

Email address of individual preparing this return

Preparer’s NYTPRIN or

Excl. code

Date

(see instr.)

See instructions for where to file.

440006210094

How to Edit Ct 3 S Form Online for Free

Completing 3 s form is simple. Our team made our PDF software to make it simple to use and enable you to fill in any form online. Here are a few steps that you need to take:

Step 1: Choose the "Get Form Here" button.

Step 2: The form editing page is presently open. It's possible to add information or manage present content.

You'll need to type in the following data to be able to create the file:

Type in the requested details in the space D Did the S corporation make an, E Did this entity have an interest, F Has there been a transfer or, If the IRS has completed an audit, If this return is for a New York S, Daily pro rata allocation, I Mark an X in the box if you are, If you are one of the following, QETC, Qualified New York manufacturer, If you filed as a New York C, L Are you a residual interest, and M Enter the amount if any of tax.

You need to write particular data within the space If you include the activities of a.

The O Were you required to report any, federal return see instructions, If you are a foreign corporation, If you made a voluntary, Part Federal Form S information, Provide the information for lines, Ordinary business income or loss, Beginning of tax year, and End of tax year field needs to be applied to list the rights or responsibilities of both sides.

ct 3 s O Were you required to report any, federal return see instructions, If you are a foreign corporation, If you made a voluntary, Part Federal Form S information, Provide the information for lines, Ordinary business income or loss, Beginning of tax year, and End of tax year fields to complete

Finalize by reviewing the following areas and filling them out as needed: Beginning of tax year, End of tax year, Total assets from federal Form S, Beginning of tax year, End of tax year, Loans from shareholders from, Beginning of tax year, End of tax year, Provide the information for lines, A Accumulated adjustments account, B Shareholders undistributed, C Accumulated earnings and profits, D Other adjustments account, Balance at beginning of, and tax year.

Step 3: Select the "Done" button. Now you may transfer the PDF document to your device. Additionally, you can send it by email.

Step 4: To protect yourself from any sort of challenges in the long run, be sure to create minimally two or three copies of the file.

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