Instructions For Form Ct-32-M - Banking Corporation Mta Surcharge Return

CT-32-M-I

New York State Department of Taxation and Finance

Instructions for Form CT-32-M

Banking Corporation MTA Surcharge Return

Tax Law — Article 32, Section 1455-B

Amended return — If you are ﬁling an amended return, please

Important reminder to ﬁle a complete return: You must

mark an X in the Amended return box on the top of the form.

complete all required schedules and forms that make

Reporting period — Complete the beginning and ending tax

up your return, and include all pages of those forms

period boxes in the upper right corner on the front of the form.

and schedules when you ﬁle. Returns that are missing

required pages or that have pages with missing entries are

NAICS business code number and business activity — Enter

considered incomplete and cannot be processed, and may

the six-digit NAICS business activity code number and your

subject taxpayers to penalty and interest.

business activity from your federal return.

New for 2005

See Form CT-32-I for information on using whole dollar amounts,

converting decimals into percentages, and showing negative

Third-party designee — You can authorize another person to

amounts.

discuss this tax return with the Tax Department by completing the

Third-party designee section of this form. For more information, see

Line instructions

Third-party designee on back page.

Line A — Make your payment in United States funds. We will

accept a foreign check or foreign money order only if payable

General information

through a United States bank or if marked Payable in U.S. funds.

If you ﬁle Form CT-32 or CT-32-A, use Form CT-32-M to report and

Computation of MCTD gross income allocation

pay the metropolitan transportation business tax surcharge (MTA

percentage

surcharge).

Lines 1-3

If you do business, employ capital, own or lease property, or

— If you do all of your New York State business within the 12

maintain an ofﬁce in the Metropolitan Commuter Transportation

counties of the MCTD, skip lines 1 and 2 and enter 100% on

District (MCTD), you must ﬁle Form CT-32-M and pay the MTA

line 3.

surcharge on business done in the MCTD. The MCTD includes the

counties of New York, Bronx, Kings, Queens, Richmond, Dutchess,

— If you do part of your New York State business outside of the

Nassau, Orange, Putnam, Rockland, Suffolk, and Westchester.

MCTD, compute your MCTD gross income allocation percentage

on lines 1 through 3.

Corporations ﬁling on a combined basis are required to ﬁle only one

return for the combined group. Use combined ﬁgures, as shown on

The MCTD gross income allocation percentage is determined by

your Form CT-32-A, to complete this form.

dividing your gross income within the MCTD by your gross income

within New York State. Gross income is federal gross income as

MTA surcharge rate — The MTA surcharge rate is 17%.

deﬁned in section 61 of the Internal Revenue Code (IRC), plus any

When to ﬁle — File your return within 2½ months after the end

amount excluded from federal gross income under section 103 of

of your reporting period. If you are reporting for the calendar year,

the IRC, minus the eligible gross income of an international banking

ﬁle your return on or before March 15. If your ﬁling date falls on a

facility (IBF), if the taxpayer elects to utilize the IBF modiﬁcation.

Saturday, Sunday, or legal holiday, then you must ﬁle your return on

(See Regulations, section 23-1.3(b).)

or before the next business day.

Line 4 – The MTA surcharge for banking corporations is computed

Where to ﬁle — Mail your return to:

using the tax rates in effect immediately prior to tax years beginning

on or after July 1, 2000.

NYS CORPORATION TAX

PROCESSING UNIT

To determine the amount to enter on line 4, ﬁnd the ﬁrst condition

PO BOX 22038

below that applies to you, and follow the instruction indicated

ALBANY NY 12201-2038.

for that condition. For example, if Form CT-32, line 5, equals the

amount on Form CT-32, line 1, and the amount on Form CT-32,

If you use a delivery service other than the U.S. Postal Service, see

line 7, equals $250, then your situation would be described in both

Private delivery services in the instructions for Form CT-32.

conditions 1 and 2. In that event, you would follow the instructions

for condition 1 and ignore the instructions for condition 2.

Extension of time for ﬁling — You may request additional time to

ﬁle an MTA surcharge return. File Form CT-5 or Form CT-5.3 on or

before the due date of the return for which you are requesting the

extension, and pay the MTA surcharge you estimate to be due.

Condition

Instructions

Employer identiﬁcation number, ﬁle number, and other

1. The ﬁxed dollar minimum tax

Enter the net franchise tax from

identifying information

equals the tax due.

Form CT-32, Schedule A, line 7, or the

total combined franchise tax from

We must have the necessary identifying information to process your

CT-32

Line 7 = $250

Form CT-32-A, Schedule A, line 9, on

CT-32-A

Line 7 = $250

line 4 of Form CT-32-M.

corporation tax forms. Keep a record of that information and include

2. The tax on allocated taxable entire

Complete Worksheet 1 on back.

it on each corporation tax form mailed. If you use a paid preparer or

net income equals the largest tax

accounting ﬁrm, make sure they use your complete and accurate

before credits.

identifying information when completing all forms.

CT-32

Line 5 = Line 1

CT-32-A

Line 5 = Line 1

Changes in business information — You must report any

3. Otherwise

Enter the net franchise tax from

changes in your business name, ID number, mailing address,

Form CT-32, Schedule A, line 7, or the

total combined franchise tax from

physical address, telephone number, or owner/ofﬁcer information on

Form CT-32-A, Schedule A, line 9, on

Form DTF-95, Business Tax Account Update. If only your address

line 4 of Form CT-32-M.

has changed, you may use Form DTF-96, Report of Address

Change for Business Tax Accounts, to correct your address for this

and all other tax types. You can get these forms from our Web site

or by fax or phone. See Need help? on the back for the Web

address and phone number.

Instructions For Form Ct-32-M - Banking Corporation Mta Surcharge Return - 2005

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