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Page 2 of 2 CT-300 (12/16)

Form CT-1, Supplement to Corporation Tax

When to file

Instructions

While certain corporate tax return and extension due dates were

changed for tax years beginning on or after January 1, 2016, the

See Form CT-1 for the following topics:

MFI for the franchise tax and MTA surcharge is due on or before

• Changes for the current tax year (general and by Tax Law

the 15th day of the 3rd month following the close of each tax

Article)

year. The MFI for calendar year 2017 is due March 15, 2017 with

• Business information (how to enter and update)

Form CT-300, while the 2016 calendar return or extension is not

due until April 15, 2017.

• Entry formats

– Dates

Computation of MFI

– Negative amounts

If the second preceding year’s franchise, excise, or gross

– Percentages

receipts tax after credits exceeds $1,000, but does not exceed

– Whole dollar amounts

$100,000, you must pay 25% of that tax. If the second preceding

• Are you claiming an overpayment?

year’s tax after credits exceeds $100,000, you must pay 40% of

that tax.

• NAICS business code number and NYS principal business

activity

MTA surcharge – A first installment equal to 25% of the

• Limitation on tax credit eligibility

second preceding year’s MTA surcharge is also required if your

second preceding year’s franchise, excise, or gross receipts

• Third-party designee

tax after credits is more than $1,000 and you are subject to the

• Paid preparer identification numbers

MTA surcharge. A first installment equal to 40% of the second

• Is your return in processible form?

preceding year’s MTA surcharge is required if the second

preceding year’s tax after credits exceeds $100,000.

• Use of reproduced and computerized forms

• Electronic filing and electronic payment mandate

Authorized life insurance companies: If the second preceding

year’s tax after credits exceeds $1,000, you must pay 40%

• Web File

of that tax amount and of the second preceding year’s MTA

• Form CT-200-V

surcharge, if applicable.

• Collection of debts from your refund or overpayment

Specific instructions

• Fee for payments returned by banks

• Reporting requirements for tax shelters

Enter your business information in the appropriate spaces

provided on the form. You may obtain the file number and return

• Tax shelter penalties

type (form number) from your last New York State franchise,

• Voluntary Disclosure and Compliance Program

excise, or gross receipts tax return, or enter the state franchise,

• Your rights under the Tax Law

excise, or gross receipts tax return form number you expect to

file, if different. Do not enter slashes or dashes when entering

• Need help?

the form number in the Return type box. Use the chart on page 1

• Privacy notification

to determine the two-digit code to enter in the Tax sub type box

based on your return type. Enter the month and year (in mm-yy

All citations are to New York State Tax Law sections unless

format) that your tax year ends in the Tax year ending box. Note:

specifically noted otherwise.

To avoid delays in processing, you must enter a form number in

the Return type box and a tax sub type in the Tax sub type box.

Who must file

Line instructions

For tax years beginning on or after January 1, 2016, New York

C corporations subject to tax under Article 9-A or Article 33 and

Line A – Make your check or money order payable in United

corporations subject to tax under Article 9, §§184, 186-a, and

States funds. We will accept a foreign check or foreign money

186-e whose second preceding year’s franchise, excise, or

order only if payable through a United States bank or if marked

gross receipts tax after credits exceeds $1,000 must use this

Payable in U.S. funds.

form to pay their mandatory first installment (MFI) of estimated

Lines 1 and 3 – Enter the total tax after credits for the second

tax for the upcoming tax year. If the second preceding year’s tax

preceding tax year; enter the amount for franchise tax on line 1

after credits exceeds $1,000 and the corporation is subject to

and for the MTA surcharge on line 3.

the metropolitan transportation business tax (MTA surcharge),

an MFI of estimated MTA surcharge is also required. New York

Lines 2 and 4 – If line 1 is equal to or less than $100,000,

S corporations: Do not file this form. (§§197-b, 213-b, and

multiply line 1 and line 3 by 25% (.25). If line 1 exceeded

1514(f))

$100,000, multiply line 1 and line 3 by 40% (.40). Authorized

life insurance corporations: Always multiply by 40% (.40).

Note: If you do not have a second preceding tax year because a

return was not required to be filed, then you are not required to

to make an MFI of estimated tax. Do not file this form. You must

still make a declaration of estimated tax, and pay the remaining

installments of estimated franchise tax and MTA surcharge using

Form CT-400, Estimated Tax for Corporations.

572002160094

Form Ct-300 (12/16) - Department Of Taxation And Finance Mandatory First Installment (Mfi) Of Estimated Tax For Corporations Page 2

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