Instructions For Banking Corporation Mta Surcharge Return Form Ct-32-M - 2004
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1
2New York State Department of Taxation and Finance
CT-32-M-I
Instructions for Form CT-32-M
Banking Corporation MTA Surcharge Return
Tax Law — Article 32, Section 1455-B
General information
Line instructions
If you file Form CT-32 or CT-32-A, use Form CT-32-M to report and
Line A — Make your payment in United States funds. We will
pay the metropolitan transportation business tax surcharge (MTA
accept a foreign check or foreign money order only if payable
surcharge).
through a United States bank or if marked Payable in U.S. funds.
Computation of MCTD gross income allocation
If you do business, employ capital, own or lease property, or
percentage
maintain an office in the Metropolitan Commuter Transportation
District (MCTD), you must file Form CT-32-M and pay the MTA
Lines 1-3
surcharge on business done in the MCTD. The MCTD includes the
— If you do all of your New York State business within the 12
counties of New York, Bronx, Kings, Queens, Richmond, Dutchess,
counties of the MCTD, skip lines 1 and 2 and enter 100% on
Nassau, Orange, Putnam, Rockland, Suffolk, and Westchester.
line 3.
Corporations filing on a combined basis are required to file only
— If you do part of your New York State business outside of the
one return for the combined group. Use combined figures, as
MCTD, compute your MCTD gross income allocation
shown on your Form CT-32-A, to complete this form.
percentage on lines 1 through 3.
MTA surcharge rate — The MTA surcharge rate is 17%.
The MCTD gross income allocation percentage is determined by
dividing your gross income within the MCTD by your gross income
When to file — File your return within 2½ months after the end of
within New York State. Gross income is federal gross income as
your reporting period. If you are reporting for the calendar year, file
defined in section 61 of the Internal Revenue Code (IRC), plus any
your return on or before March 15. If your filing date falls on a
amount excluded from federal gross income under section 103 of
Saturday, Sunday, or legal holiday, then you must file your return on
the IRC, minus the eligible gross income of an international
or before the next business day.
banking facility (IBF), if the taxpayer elects to utilize the IBF
modification. (See Regulations, section 23-1.3(b).)
Where to file — Mail your return to:
Line 4 – The MTA surcharge for banking corporations is computed
NYS CORPORATION TAX
using the tax rates in effect immediately prior to tax years
PROCESSING UNIT
beginning on or after July 1, 2000.
PO BOX 22038
ALBANY NY 12201-2038.
To determine the amount to enter on line 4, find the first condition
below that applies to you, and follow the instruction indicated for
If you use a delivery service other than the U.S. Postal Service, see
that condition. For example, if Form CT-32, line 5, equals the
Private delivery services in the instructions for Form CT-32.
amount on Form CT-32, line 1, and the amount on Form CT-32,
Extension of time for filing — You may request additional time to
line 7, equals $250, then your situation would be described in both
file an MTA surcharge return. File Form CT-5 or Form CT-5.3 on or
conditions 1 and 2. In that event, you would follow the instructions
before the due date of the return for which you are requesting the
for condition 1 and ignore the instructions for condition 2.
extension, and pay the MTA surcharge you estimate to be due.
Condition
Instructions
1. The fixed dollar minimum tax
Enter the net franchise tax from
Employer identification number, file number, and other
equals the tax due.
Form CT-32, Schedule A, line 7, or the
total combined franchise tax from
identifying information
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.
We must have the necessary identifying information to process
2. The tax on allocated taxable entire
Complete Worksheet 1.
your corporation tax forms. Keep a record of that information and
net income equals the largest tax
include it on each corporation tax form mailed. If you use a paid
before credits.
preparer or accounting firm, make sure they use your complete and
CT-32
Line 5 = Line 1
accurate identifying information when completing all forms.
CT-32-A
Line 5 = Line 1
3. Otherwise
Enter the net franchise tax from
Changes in business information — You must report any
Form CT-32, Schedule A, line 7, or the
changes in your business name, ID number, mailing address,
total combined franchise tax from
Form CT-32-A, Schedule A, line 9, on
physical address, telephone number, or owner/officer information
line 4 of Form CT-32-M.
on Form DTF-95, Business Tax Account Update. If only your
address has changed, you may use Form DTF-96, Report of
Address Change for Business Tax Accounts, to correct your
Worksheet 1
address for this and all other tax types. You can get these forms
A Enter allocated taxable entire net income
from our Web site or by fax or phone. See Need help? on the back
from Form CT-32, Schedule B, line 61, or
for the Web address and phone number.
Form CT-32-A, Schedule B, line 59 ...................
.09
B Rate ....................................................................
Amended return — If you are filing an amended return, please
mark an X in the Amended return box on the top of the form.
C Multiply line A by line B ......................................
D Enter tax credits from Form CT-32, Schedule A,
Reporting period — Complete the beginning and ending tax
line 6, or Form CT-32-A, Schedule A, line 6 ......
period boxes in the upper right corner on the front of the form.
E Net New York State franchise tax: subtract
line D from line C ................................................
NAICS business code number and business activity — Enter
the six-digit NAICS business activity code number and your
F Combined fixed minimum tax for member
corporations (Form CT-32 filers enter 0;
business activity from your federal return.
Form CT-32-A filers enter the amount from
See Form CT-32-I for information on using whole dollar amounts,
line 8 of that form) .............................................
converting decimals into percentages, and showing negative
G Total combined franchise tax: add line E and
amounts.
line F; enter result here and on line 4 of
Form CT-32-M ....................................................
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