Form Ct 6 1 – Fill Out and Use This PDF

Department of Taxation and Finance

CT-6.1

Termination of Election to be Treated

As a New York S Corporation

(12/19)

A

B

C

D

Name and address

Social Security

Stock owned or percentage of

Shareholder’s signature (see instructions)

of each revoking shareholder

number or employer

ownership (see instructions)

For this termination of election to be valid, all

(include ZIP code)

identification number

revoking shareholders must signify consent by

Number of shares

Date

signing below.

or percentage of

acquired

ownership

Printed name of authorized person

Signature of authorized person

Official title

Authorized

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

Signature of individual preparing this election

Address

City

State

ZIP code

use

only

Email address of individual preparing this election

Preparer’s NYTPRIN

or

Excl. code

Date

(see instr.)

Page 2 of 2 CT-6.1 (12/19)

Instructions

General information

Column C – Enter the number of shares of stock owned and

A corporation that made the election to be treated as a New

the date the shares of stock were acquired by each shareholder

listed in column A. An entity without stock, such as a limited

York S corporation on Form CT-6, Election by a Federal

liability company (LLC), should enter the percentage of

S Corporation to be Treated as a New York S Corporation,

ownership for each member and date acquired.

must file Form CT-6.1 to terminate the election. Specifically,

Form CT-6.1 is used to report:

Column D – Each shareholder listed in column A must signify

– the termination of the corporation’s taxation as a New York

consent to the termination or revocation by signing their name

S corporation under Tax Law Article 9-A; and

in column D or by signing their name on a separate consent

– the termination of the shareholder’s election to include his or

statement, as described in Continuation sheet or separate

consent statement.

her share of the New York S corporation’s items of income,

loss, and deductions under the personal income tax law

If a married couple has a community interest in the stock or

(Article 22) or as unrelated business income for Article 13

the income from it, both spouses must consent. Similarly, each

taxpayers.

tenant in common, joint tenant, or tenant by the entirety must

When termination occurs

also consent.

A minor’s consent is made by the minor or the legal guardian.

An election to treat the corporation as a New York S corporation

If no legal guardian has been appointed, the natural guardian

will cease to be effective:

makes the consent (even if a custodian holds the minor’s stock

– on the day the federal election to be treated as an

under a law patterned after the Uniform Gifts to Minors Act).

S corporation ceases; or

An Article 13 shareholder’s consent is made by an elected

– where shareholders owning more than 50% of the shares of

officer or other authorized person.

stock revoke the New York S election, on the date specified

under Revocation of election; or

Signature

– on the day a person who refuses to consent to the New York

The election must be certified by the president, vice president,

S corporation treatment becomes a new shareholder.

treasurer, assistant treasurer, chief accounting officer, or other

Note: When the termination date is other than the first day of a tax

officer authorized by the taxpayer corporation.

year, the corporation will be considered a New York S corporation

The election of an association, publicly traded partnership, or

from the first day of the tax year to the day immediately preceding

business conducted by a trustee or trustees must be signed by

the termination day and a New York C corporation from the

a person authorized to act for the association, publicly traded

termination day to the last day of the tax year.

partnership, or business.

Revocation of election

If an outside individual or firm prepared the election, all

The revocation is effective:

applicable entries in the paid preparer section must be

– on the first day of the tax year, if Form CT-6.1 is filed on or

completed, including identification numbers (see Paid preparer

identification numbers in Form CT-1). Failure to sign the election

before the fifteenth day of the third month of the tax year; or

will delay the processing of any refunds and may result in

– on the first day of the following tax year if Form CT-6.1 is filed

penalties.

after the fifteenth day of the third month of the tax year; or