Instructions For Form Ct-33-M - Insurance Corporation Mta Surcharge Return

CT-33-M-I (1999) (back)

Instructions (continued)

If you are filing a combined return and did not file Form CT-5.3,

Note: If you wish, we will compute the interest (line 20) and

your first installment is dependent upon a ratio determined by the

penalty (line 21) for you. Call the Business Tax Information

amount of the combined group’s life insurance premiums and

Center at 1 800 972-1233.

non-life insurance premiums. If the combined group includes both

Line 23 — You may apply all or part of your overpayment to your

life and non-life insurance companies, complete lines 1 through 9

New York State franchise tax. Indicate on lines 24, 25, and 26 the

of the worksheet below. If the combined group is composed

amount you want applied to your tax and the amount you want

exclusively of life insurance companies or exclusively of non-life

refunded.

insurance companies, complete lines 3 through 9 of the worksheet

below. If the combined group is exclusively a life insurance

Line 28 — Collection of debts from your refund — We will keep

company, enter 100% on line 3. If the combined group is

all or part of your refund if you owe a past-due legally enforceable

exclusively a non-life insurance company, enter 0% on line 3.

debt to the Internal Revenue Service (IRS) or to a New York State

agency. This includes any state department, board, bureau,

1. Enter the life insurance company premiums

division, commission, committee, public authority, public benefit

included on line 1 of Form CT-33-M ................. 1.

corporation, council, office, or other entity performing a

2. Enter the total premiums included on line 1

governmental or proprietary function for the state or a social

of Form CT-33-M ............................................. 2.

services district. We will refund any amount over your debt.

3. Divide line 1 by line 2 to arrive at the life

insurance percentage ....................................... 3.

If you have any questions about whether you owe a past-due

4. Enter the combined MTA surcharge from

legally enforceable debt to the IRS or to a state agency, contact the

line 14 of Form CT-33-M .................................. 4.

IRS or that particular state agency.

5. Multiply line 4 by the life insurance percentage

For New York State tax liabilities only call 1 800 835-3554 (outside

on line 3 ............................................................ 5.

the U.S. and outside Canada call (518) 485-6800) or write to

6. Subtract the amount on line 5 from the amount

NYS TAX DEPARTMENT, TAX COMPLIANCE DIVISION,

on line 4 ............................................................ 6.

W A HARRIMAN CAMPUS, ALBANY NY 12227.

7. Multiply line 5 by 40% (.4) .................................... 7.

8. Multiply line 6 by 25% (.25) .................................. 8.

Claim for refund of MTA surcharge retaliatory tax credit

9. First installment due

(add lines 7 and 8; enter on

............................................................. 9.

line 15b)

Insurance corporations organized or domiciled in New York State

must use lines 29 through 38 to claim a refund for retaliatory taxes

Line 17 — Enter any MTA surcharge payment made with

paid to other states as a result of the imposition of the metropolitan

Form CT-5. You may compute prepayments on the back of the form

transportation business tax (MTA surcharge). The surcharge credit

and transfer them to this line. Prepayments include any MTA

available for a given year may not exceed the MTA surcharge

surcharge payment made with Form CT-5 (extension), installment

payable for that year as computed under section 1505-a of the Tax

payments of MTA surcharge on Form CT-400, credit carryovers

Law. The credit is claimed in the year paid, but is attributed to the

from prior years, and overpayments of franchise tax from

year in which the retaliatory taxes were imposed or assessed.

Form CT-33 or Form CT-33-A.

Attach a separate sheet to the refund claim, identifying the

Line 20 — If you do not pay the MTA surcharge on or before the

recipients of the tax and the amount paid to each recipient, broken

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

down to reflect the year to which the taxes are attributable.

must pay interest on the amount of the underpayment from the

A credit cannot be claimed for taxes paid to other states on or after

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

the limitation date for each MTA surcharge tax year. The limitation

computation any amount shown on line 15a or 15b, first installment

date is the first day of the sixth calendar year following the calendar

of estimated tax for next period.

year in which an insurer’s MTA surcharge tax year begins. For

Line 21 — Compute additional charges for late filing and late

example, for an MTA surcharge tax year ending December 31,

payment on the amount of MTA surcharge required to be shown on

1993, the limitation date for filing a claim for refund would be

the return after deduction of any payment made on or before the

January 1, 1999. For a 12-month fiscal MTA surcharge tax year

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

ending November 30, 1994, the limitation date for filing a claim for

from the penalty computation any amount shown on line 15a or

refund would still be January 1, 1999. For additional information

15b, first installment of estimated tax for next period.

see TSB-M-85(4)C.

A If you do not file a return when due or if your request for

Line 29 — Enter MTA surcharge payable for each year for which

extension is invalid, add to the MTA surcharge 5% per month up

you are claiming a credit.

to 25% (section 1085(a)(1)(A)).

Line 30 — Enter retaliatory tax credits allowed in prior years that

B If you do not file a return within 60 days of the due date, the

are attributable to the MTA surcharge. Include all credits claimed on

addition to the MTA surcharge in item A above cannot be less

Form CT-33-M.

than the smaller of $100 or 100% of the amount required to be

shown as the MTA surcharge (section 1085(a)(1)(B)).

Lines 32 through 36 — Do not include on these lines any amounts

attributable to retaliatory taxes that were previously claimed on

C If you do not pay the MTA surcharge shown on a return, add to

Form CT-33-M for any year.

the MTA surcharge 2% per month up to 25%

(section 1085(a)(2)).

Line 37 — Enter in the appropriate column, for the correct year, the

D The total of the additional charges in items A and C above may

total MTA surcharge retaliatory tax credits allowed to date. Include

not exceed 5% for any one month except as provided for in

any credits previously allowed on Form CT-33-M or previously filed

item B above (section 1085(a)).

Form CT-33-R, as well as amounts claimed in Columns A through E

on lines 32 through 36.

If you think you are not liable for these additional charges,

attach a statement to your return explaining the delay in filing

and/or payment (section 1085).

Instructions For Form Ct-33-M - Insurance Corporation Mta Surcharge Return - 1999 Page 2

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