Looking for a New York State Tax Forms And Templates? Download it for free!

Page 6 of 29 CT-3/4-I (2006)

General information

Cooperative housing corporations

Negative amounts

A qualified cooperative housing corporation is entitled to use a reduced tax

Show any negative amounts with a minus (-) sign.

rate of .0004 when computing its tax using the capital base.

Percentages

A corporation that has only one class of stock that entitles the shareholder

to live in a house or an apartment in a building owned or leased by the

When computing percentages, convert decimals into percentages by

corporation may be a cooperative housing corporation. For a complete

moving the decimal point two spaces to the right. Round percentages to four

definition, see IRC section 216.

decimal places.

Example: 5,000/7,500 = 0.6666666 = 66.6667%.

Foreign airlines

Third-party designee

Foreign airlines that have a foreign air carrier permit pursuant to

section 402 of the Federal Aviation Act of 1958 may exclude from ENI

If you want to authorize another person (third-party designee) to discuss

this tax return with the New York State Tax Department, mark an X in the

all income from international operations effectively connected to the

United States, foreign passive income, and income earned from overseas

Yes box in the Third-party designee area of your return. Also enter the

operations, provided the foreign country in which the airline is based has a

designee’s name, phone number, and any five-digit number the designee

similar exemption from tax with respect to United States airlines.

chooses as his or her personal identification number (PIN). If you want to

authorize the paid preparer who signed your return to discuss the return

Foreign airlines may also exclude business and investment assets used in

with the Tax Department, enter Preparer in the space for the designee’s

connection with the exempt income from the tax computed on capital.

name. You do not have to provide the other information requested.

The business allocation formula used by these foreign airlines is the

If you mark the Yes box, you are authorizing the Tax Department to discuss

business allocation formula based on receipts, payroll, and property, as

with the designee any questions that may arise during the processing of

opposed to the special airline formula based on arrivals and departures,

your return. You are also authorizing the designee to:

with modifications.

• give the Tax Department any information that is missing from your return;

However, if the country in which the foreign airline is based does not

• call the Tax Department for information about the processing of your

provide a similar exemption from tax with respect to United States airlines,

return or the status of your refund or payment(s); and

the foreign airline is not entitled to the exclusions from income and capital

• respond to certain Tax Department notices that you shared with the

described above and must use the special airline allocation formula.

designee about math errors, offsets, and return preparation. The notices

For more information, see TSB-M-94(2)C, Important Notice: Summary of

will not be sent to the designee.

1994 Corporation Tax Law Changes.

You are not authorizing the designee to receive your refund check, bind you

to anything (including any additional tax liability), or otherwise represent

How to fill out your tax return

you before the Tax Department. If you want the designee to perform those

services for you, you must file Form POA-1, Power of Attorney, making

that designation with the Tax Department. Copies of statutory tax notices

Important identifying information

or documents (such as a Notice of Deficiency) will only be sent to your

When preparing your corporation tax return, please be sure to accurately

designee if you file Form POA-1.

complete the corporation’s identifying information (employer identification

You cannot revoke the third-party designee authorization or change the PIN.

number (EIN) and file number) including your current address. Keep a

However, the authorization will automatically end on the due date (without

record of your identifying information for future use.

regard to extensions) for filing your next year’s tax return.

If you use a paid preparer or accounting firm, make sure they use your

complete and accurate information when completing all your forms.

Signature

Are you claiming an overpayment?

The return must be certified by the president, vice president, treasurer,

assistant treasurer, chief accounting officer, or other officer authorized by

If you are claiming an overpayment on line 46 of Form CT-4, or line 94 of

the taxpayer corporation.

Form CT-3, mark an X in the box on page 1 of your return to the right of your

EIN and file number.

The return of an association, publicly traded partnership, or business

conducted by a trustee or trustees must be signed by a person authorized to

Name, address, and business information

act for the association, publicly traded partnership, or business.

Enter the corporation’s legal name, and also enter the corporation’s mailing

If an outside individual or firm prepared the return, the signature of the

name if different from the corporation’s legal name.

person and the name, address, and identification number of the firm must

be included. Failure to sign the return will delay the processing of any

If your address has changed, please enter your new address in the

refunds and may result in penalties.

appropriate area and mark an X in the box under the address so that we

can update your address for this tax type. Do not mark an X in this box for

Is your return in processible form?

any change of business information other than for your address.

Returns must be prepared in a manner that will permit their routine handling

You must report any changes in your business name, ID number, mailing

and processing and include all pages. We will not pay interest on an

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

overpayment of taxes until a return is in a processible form which includes a

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

required signature.

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

Use of reproduced and computerized forms

types. You can get these forms from our Web site, or by fax or phone (see

Need help? on page 29).

Photocopies of returns are acceptable if they are of good quality and have

an original signature in the proper place.

Whole dollar amounts

We will accept computer-produced corporation tax returns if they meet

You may elect to show amounts in whole dollars rather than in dollars and

our printing specifications. For more information, see Publication 76,

cents. Round any amount from 50 cents through 99 cents to the next higher

Specifications for Reproduction of New York State Corporation Tax Forms.

dollar. Round any amount less than 50 cents to the next lower dollar.

Form Ct-3/4-I - Instructions For Forms Ct-4, Ct-3, And Ct-3-Att - General Business Corporation Franchise Tax Returns - 2006 Page 6

Related Articles

Related forms

Related Categories