Instructions For Form Ct-1 X - 2010 (Page 6 of 9) in pdf

CT-1, enter in column 2 the amount after any previous

the total corrected amount in column 1. In column 2, enter the

corrections.

amount you originally reported or as previously corrected. In

column 3, enter the difference between columns 1 and 2.

line 6 (column 1)

line 8 (column 1)

-line 6 (column 2)

-line 8 (column 2)

line 6 (column 3)

If the amount in column 2 is larger than

line 8 (column 3)

If the amount in column 2 is larger

the amount in column 1, use a minus

than the amount in column 1, use a

minus sign in column 3.

Multiply the amount in column 3 by .062 (6.2% tax rate) and

Multiply the amount in column 3 by the rate that applies to

enter the result in column 4.

the year you are correcting and enter that result in column 4.

If the amount in column 3 used a minus sign, also use a minus

line 6 (column 3)

.062

line 6 (column 4)

If the amount in column 3 used a minus sign,

Example — Tier II Employer compensation decreased.

also use a minus sign in column 4.

Following Example — Tier I Employer compensation decreased

in the instructions for line 6, the compensation that you counted

Example — Tier I Employer compensation decreased.

twice was also Tier II Employer compensation. Because you

You reported $9,000 as Tier I Employer compensation in

are correcting your 2009 Form CT-1 in this example, use the

computing the tax on line 1 of your 2009 Form CT-1. In

rate from line 3 (12.1%) shown on that return. To correct the

December of 2010, you discovered that you included $2,000 in

error, figure the difference on Form CT-1 X as shown.

compensation for one of your employees twice. To correct the

error, figure the difference on Form CT-1 X as shown.

Column 1 (corrected amount)

7,000.00

Column 2 (from line 3 of Form CT-1)

- 9,000.00

Column 1 (corrected amount)

7,000.00

Column 3 (difference)

- 2,000.00

Column 2 (from line 1 of Form CT-1)

- 9,000.00

Column 3 (difference)

- 2,000.00

Use the difference in column 3 to determine your tax

correction.

Column 3 (difference)

-2,000.00

Tax rate (12.1%)

x .121

Column 3 (difference)

-2,000.00

Column 4 (tax correction)

-242.00

Tax rate (6.2%)

x .062

Column 4 (tax correction)

-124.00

Be sure to explain the reasons for this correction on line 20.

9. Tier I Employee Tax—Compensation

7. Tier I Employer Medicare Tax—Compensation

If you are correcting the compensation, including tips reported,

If you are correcting the compensation (other than tips and sick

for the Tier I Employee tax you reported on line 4 of Form CT-1,

pay) for the Tier I Employer Medicare tax you reported on line 2

enter the total corrected amount in column 1. In column 2, enter

of Form CT-1, enter the total corrected amount in column 1. In

the amount you originally reported or as previously corrected. In

column 2, enter the amount you originally reported or as

column 3, enter the difference between columns 1 and 2.

previously corrected. In column 3, enter the difference between

columns 1 and 2.

line 9 (column 1)

-line 9 (column 2)

line 7 (column 1)

line 9 (column 3)

If the amount in column 2 is larger than the amount

-line 7 (column 2)

in column 1, use a minus sign in column 3.

line 7 (column 3)

If the amount in column 2 is larger

Multiply the amount in column 3 by .062 (6.2% tax rate) and

than the amount in column 1, use a

report that result in column 4.

minus sign in column 3.

Multiply the amount in column 3 by .0145 (1.45% tax rate)

line 9 (column 3)

and enter that result in column 4.

x .062

line 9 (column 4)

If the amount in column 3 used a minus sign,

line 7 (column 3)

also use a minus sign in column 4.

x .0145

line 7 (column 4)

If the amount in column 3 used a minus sign,

Be sure to explain the reasons for this correction on line 20.

also use a minus sign in column 4.

Example — Tier I Employer Medicare compensation

10. Tier I Employee Medicare

decreased. Following Example — Tier I Employer

Tax—Compensation

compensation decreased in the instructions for line 6, the

If you are correcting the compensation, including tips reported,

compensation that you counted twice was also Tier I Employer

for the Tier I Employee Medicare tax you reported on line 5 of

Medicare compensation. To correct the error, figure the

Form CT-1, enter the total corrected amount in column 1. In

difference on Form CT-1 X as shown.

column 2, enter the amount you originally reported or as

previously corrected. In column 3, enter the difference between

Column 1 (corrected amount)

7,000.00

columns 1 and 2.

Column 2 (from line 2 of Form CT-1)

- 9,000.00

Column 3 (difference)

- 2,000.00

line 10 (column 1)

Use the difference in column 3 to determine your tax

-line 10 (column 2)

correction.

line 10 (column 3)

If the amount in column 2 is larger than the

amount in column 1, use a minus sign in

Column 3 (difference)

-2,000.00

column 3.

Tax rate (1.45%)

x .0145

Multiply the amount in column 3 by .0145 (1.45% tax rate)

Column 4 (tax correction)

- 29.00

and enter that result in column 4.

Be sure to explain the reasons for this correction on line 20.

line 10 (column 3)

8. Tier II Employer Tax—Compensation

x .0145

If you are correcting the compensation (other than tips) for the

line 10 (column 4)

If the amount in column 3 used a minus sign,

Tier II Employer tax you reported on line 3 of Form CT-1, enter

also use a minus sign in column 4.

-5-

Instructions for Form CT-1 X (2010)

Instructions For Form Ct-1 X - 2010 Page 6

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