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

CT-32-M-I (2004) (back)

First installment of estimated tax for the next tax period

original due date to the date paid. Exclude from the interest

computation any amount shown on line 7a or line 7b, first

If, on your Form CT-32 or Form CT-32-A, you must make a first

installment of estimated MTA surcharge for the next tax period.

installment of estimated franchise tax for the next tax period, you

must also make a first installment of the MTA surcharge for the next

Line 13 — Late filing and late payment penalties are computed on

tax period.

the amount of the MTA surcharge minus any payment made on or

before the due date (with regard to any extension of time for filing).

Line 7b — If you did not file Form CT-5 or Form CT-5.3 and the

Exclude from the penalty computation any amount shown on

franchise tax shown on Form CT-32, line 7, or Form CT-32-A,

line 7a or line 7b, first installment of estimated MTA surcharge for

Schedule A, line 7, exceeds $1,000, but does not exceed

the next tax period.

$100,000, enter 25% of the MTA surcharge shown on line 6 of the

CT-32-M. If you did not file Form CT-5 or Form CT-5.3, and the

See Form CT-32-I for information on computing late filing and late

franchise tax shown on Form CT-32, line 7, or Form CT-32-A,

payment penalties.

Schedule A, line 7, exceeds $100,000, enter 30% of the MTA

Line 15 — You may divide the overpayment on line 16, 17, or 18 in

surcharge shown on line 6 of the CT-32-M. Otherwise, enter 0 .

any way you choose.

Line 11 — If you underpaid your estimated MTA surcharge, use

See Form CT-32-I for information on collection of debts from your

Form CT-222, Underpayment of Estimated Tax by a Corporation, to

refund.

compute the penalty. Attach Form CT-222 and mark an X in the

box. If no penalty is due, enter 0 .

Line 19-25 – Computation of prepayments on line 9 — If you

need more space, write see attached in this section and attach a

Line 12 — If you do not pay the MTA surcharge on or before the

separate sheet showing all relevant prepayment information.

original due date (without regard to any extension of time to file),

Transfer the total shown on the attached sheet to line 9.

you must pay interest on the amount of the underpayment from the

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To order forms and publications:

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Business Tax Information Center:

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with disabilities, please call 1 800 972-1233.

From areas outside the U.S. and

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(518) 485-6800

Instructions For Banking Corporation Mta Surcharge Return Form Ct-32-M - 2004 Page 2

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