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Page 28 of 29 CT-3/4-I (2006)

Worksheet for Form CT-3-ATT

Line 18 worksheet

Noninterest deductions indirectly attributable to investment capital

D. (continued)

A. Enter federal noninterest deductions included on

Enter the Form CT-3 line number

federal Form 1120, line 27 (excluding the amount

and amounts below.

from federal Form 1120, line 18) .............................. A.

Line #

Amount

B. Enter amounts of noninterest deductions included

Line #

Amount

on line A that must be added back to FTI in

computing ENI (other than the amounts on

Line #

Amount

Total D.

Form CT-3, lines 4b and 5b). Include the New York

State excess depreciation amount described in

E. Total New York State noninterest deductions

Tax Law section 208.9(b)(11) to the extent that

included in ENI

............................ E.

(add lines C and D)

such amounts are subtracted in computing ENI

for prior tax years that began on or after

F. Enter noninterest deductions directly attributable

January 1, 1987.

to subsidiary capital

............. F.

(from Form CT-3, line 4b)

G. Enter noninterest deductions directly attributable

Enter the Form CT-3 line number and amounts

to investment capital

(from Form CT-3-ATT,

below.

...................................................................... G.

line 16)

H. Enter noninterest deductions directly attributable

Line #

Amount

to business capital .................................................... H.

Line #

Amount

I. Subtotal

................................... I.

(add lines F, G, and H)

Line #

Amount

Total B.

J. Noninterest deductions subject to indirect

attribution

(subtract line I from line E; see

C. Balance

............................. C.

(subtract line B from line A)

.................................................. J.

instructions for line R)

D. Enter amounts of noninterest deductions listed

K. Enter gross income attributable to investment

below that are required to be subtracted from

capital. Gross income from investment capital is

FTI in computing ENI.

that portion of total gross income consisting of

(a) dividends, interest, and gains (but not losses)

— For a taxpayer organized outside the

from investment capital, and (b) items described

United States, deductions attributable

in 20 NYCRR 4-8.3(a)(2) – (5). To determine the

to income that is not included in FTI but

amount to enter on line K, take the amount of

is required to be included in ENI (for

total investment income reported on

example, foreign source income)

Form CT-3-ATT, line 14, and add back any

(section 208.9(c); see also

dividends excluded on Form CT-3, line 11, and

20 NYCRR 3-2.3(a)(9)).

any losses used to compute the amount of

— The portion of wages and salaries paid or

capital gains from investment capital on

incurred for the tax year for which a

Form CT-3-ATT, line 12. ............................................ K.

deduction is not allowed pursuant to

L. Enter total gross income. For these purposes,

IRC section 280C (Tax Law section 208.9(a)(7)).

total gross income means gross income as

— Depreciation deductions permitted under

defined in IRC section 61, increased by

Article 9-A with respect to decoupled

(a) those items described in section 61 that are

property pursuant to Tax Law,

included in the computation of ENI by reason

section 208.9(a)(11) and (12).

of Tax Law section 208.9(c) (relating to

foreign source income), and (b) interest

— Deductions arising from decoupling from

on state and local bonds excluded from

federal safe harbor lease provisions

gross income under IRC section 103.

pursuant to Tax Law section 208.9(a)(10).

Gross income is not reduced by any deduction

— The noninterest deductions taken in

for capital losses or by any other deductions. .......... L.

computing the amount on Form CT-3, line 2.

M. Income percentage

................. M.

(divide line K by line L)

— Depreciation deduction permitted under

N. Enter amount from Form CT-3-ATT, line 7,

Article 9-A for decoupled property pursuant

column C ................................................................. N.

to Tax Law section 208.9(o) and (p).

O. Enter amount from Form CT-3, line 30, column C .... O.

— Related member royalty income deduction

permitted under Article 9-A pursuant to Tax

P. Asset percentage

................... P.

(divide line N by line O)

Law section 208.9(o).

Q. Investment capital percentage (if line L is zero,

— SUV recapture permitted under Article 9-A

the investment capital percentage is equal to

pursuant to Tax Law section 208.9(a)(16).

the asset percentage. If line O is zero, the

— Deduction for qualified public utilities and

investment capital percentage is equal to the

transferees permitted under Article 9-A

income percentage.)

pursuant to Tax Law section 208.9(c-2).

a. Enter percentage from line M

— Deduction of qualified power producers and

multiply by 2 .........................................

qualified pipelines corporations permitted

b. Enter percentage from line P ...............

under Article 9-A pursuant to Tax Law

section 208.9(c-3).

c. Total

..........................

(add lines a and b)

— Deduction for sale of QETI permitted under

d. Investment capital percentage

Article 9-A pursuant to Tax Law

.................................................. Q.

(divide line c by 3)

section 208.9(l).

R. Amount of noninterest deductions indirectly

— Deduction for eligible settlement fund or

attributable to investment capital (Multiply line J

eligible grantor trust permitted under

by the percentage from line Q or, if you made

Article 1 pursuant to Tax Law section 13.

an election to use the asset percentage, by the

percentage from line P. Enter this amount on

line 18 of Form CT-3-ATT.) ....................................... R.

(instructions continue on page 24)

Form Ct-3/4-I - Instructions For Forms Ct-4, Ct-3, And Ct-3-Att - General Business Corporation Franchise Tax Returns - 2006 Page 13

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