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

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Page 4 of 29 CT-3/4-I (2006)
General information
For more information about other taxes that may apply to you, see
A. If you do not file a return when due, or if the request for extension is
invalid, add to the tax 5% per month up to 25% (section 1085(a)(1)(A)).
Publication 20, Tax Guide for New Businesses.
B. If you do not file a return within 60 days of the due date, the additional
charge in item A above cannot be less than the smaller of $100 or 100%
When to file
of the amount required to be shown as tax (section 1085 (a)(1)(B)).
C. If you do not pay the tax shown on a return when due, add to the tax
File your return within 2½ months after the end of your reporting period.
½% per month up to a total of 25% (section 1085 (a)(2)).
If you are reporting for the calendar year, your return is due on or before
D. The total of the additional charges in items A and C may not exceed
March 15. If your filing date falls on a Saturday, Sunday, or legal holiday,
5% for any one month, except as provided for in item B above
then you must file your return on or before the next business day.
(section 1085 (a)).
Extensions if you cannot meet the filing deadline
If you think you are not liable for these additional charges, attach a
statement to your return explaining the delay in filing, payment, or both
If you cannot meet the filing deadline, you may request a six-month
(section 1085).
extension of time by filing Form CT-5, Request for Six-Month Extension
to File (for franchise/business taxes, MTA surcharge, or both), and paying
your properly estimated franchise tax and MTA surcharge on or before the
Note: You may compute your penalty and interest by accessing our
original due date of the return.
Web site and clicking on Electronic Services, or you may call and we will
compute the penalty and interest for you (see Need help? on page 29).
You may request up to two additional extensions by filing Form CT-5.1,
Request for Additional Extension of Time to File (for franchise/business
If you understate your tax
taxes, MTA surcharge, or both). File it on or before the expiration date of the
original extension or previously filed additional extension.
If the tax you report is understated by 10% or $5,000, whichever is greater,
you must pay a penalty of 10% of the amount of understated tax. You can
reduce the amount on which you pay penalty by subtracting any item for
Where to file
which (1) there is or was substantial authority for the way you treated it, or
(2) there is adequate disclosure on the return or in an attached statement
Form CT-3 — Use one of the following addresses:
(see Article 27, section 1085(k)).
With payment
Without payment
If you underpay your estimated tax
NYS CORPORATION TAX
NYS CORPORATION TAX
PROCESSING UNIT
PROCESSING UNIT
If you can reasonably expect your New York State franchise tax liability to
PO BOX 1909
PO BOX 22095
exceed $1,000, you must file a declaration of estimated tax on Form CT-400.
ALBANY NY 12201-1909
ALBANY NY 12201-2095
A penalty will be imposed if you fail to file a declaration of estimated tax or
Form CT-4 — Use one of the following addresses:
fail to pay the entire installment payment of estimated tax due. For complete
details, see Form CT-222.
With payment
Without payment
NYS CORPORATION TAX
NYS CORPORATION TAX
If you fail to provide information about interest paid
PROCESSING UNIT
PROCESSING UNIT
PO BOX 22093
PO BOX 22101
to shareholders
ALBANY NY 12201-2093
ALBANY NY 12201-2101
Tax Law section 1085(n) provides for a penalty of $500 for failure to provide
If you use a delivery service other than the U.S. Postal Service, see Private
information about interest payments made to shareholders that were
delivery services below.
deducted in computing entire net income (ENI).
If you fail to provide information about your
Private delivery services
issuer’s allocation percentage
If you choose, you may use a private delivery service, instead of the U.S.
Postal Service, to mail in your return and tax payment. However, if, at a later
Tax Law section 1085(o) provides for a penalty of $500 for failure to provide
date, you need to establish the date you filed your return or paid your tax,
information needed to compute your issuer’s allocation percentage (see
you cannot use the date recorded by a private delivery service unless you
instructions for Form CT-3, line 41).
used a delivery service that has been designated by the U.S. Secretary
Tax shelter penalties
of the Treasury or the Commissioner of Taxation and Finance. (Currently
designated delivery services are listed in Publication 55, Designated
The Tax Law also provides penalties for failure to disclose certain
Private Delivery Services. See Need help? on page 29 of these instructions
transactions and related information regarding tax shelters and for the
for information on obtaining forms and publications.) If you have used a
underpayment of taxes due to participation in these shelters. For more
designated private delivery service and need to establish the date you filed
information, refer to TSB-M-05(2)C.
your return, contact that private delivery service for instructions on how
to obtain written proof of the date your return was given to the delivery
Other penalties
service for delivery. If you use any private delivery service, whether it is a
Strong civil and criminal penalties may be imposed for negligence or fraud.
designated service or not, send the forms covered by these instructions to:
For more information, contact the Corporation Tax Information Center (see
State Processing Center, 431C Broadway, Albany NY 12204-4836.
Need help? on page 29).
Penalties and interest
Is this an amended return?
If you pay after the due date
If you are filing an amended return for any purpose, including an amended
return filed with Forms CT-8, CT-9, or CT-3360, mark an X in the Amended
If you do not pay the tax due on or before the original due date, you must
return box on page 1 of the return.
pay interest on the amount of the underpayment from the original due date
of the return (without regard to any extension of time for filing) to the date
the tax is paid. Exclude from the interest computation any amount shown
Filing your final return
on Form CT-3, line 83a or 83b, or Form CT-4, lines 35a or 35b. Interest
is always due, without any exceptions, on any underpayment of tax. An
Mark an X in the Final return box on page 1 of the return if the corporation
extension of time for filing does not extend the due date for payment of tax.
is a:
• domestic corporation that ceased doing business, employing capital, or
If you file and pay after the due date
owning or leasing property in New York State during the tax year and
Compute additional charges for late filing and late payment on the amount
wishes to dissolve; or
of tax minus any payment made on or before the due date (with regard to
• foreign corporation that is no longer subject to the franchise tax in New
any extension of time for filing). Exclude from the penalty computation any
York State.
amount shown on Form CT-3, line 83a or 83b, or Form CT-4, line 35a or 35b.

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