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Page 2 of 2 CT-60-QSSS (2012)

Instructions

General information

such election is terminated. Once made, the QSSS inclusion

election is binding for the tax year in which it is made and may

The Tax Law conforms in many respects to the federal treatment

not later be changed by filing an amended return. Complete

of qualified subchapter S subsidiaries (QSSS). The filing

Part 2 to make the election. You are required to complete

requirements impacting corporations that are the parent of a

Part 2 for each succeeding tax year for which the QSSS is

QSSS and corporations that have elected QSSS status are

being included in the franchise tax return of the New York

outlined in the instructions to your franchise tax return. In all

C corporation. If a QSSS for which the election had been made

cases where New York State follows federal QSSS treatment,

in a previous tax year is not included on Part 2, it indicates

the parent and QSSS will file a single franchise tax return. The

termination of the election.

QSSS will be ignored as a separate taxable entity, and the

income, deductions, credits, and other tax attributes of the QSSS

If you elect to include a QSSS, you must also include any lower

will be included on the parent’s franchise tax return. However,

tier QSSS owned by that QSSS. However, do not include any

with regard to other taxes under the Tax Law, such as sales

excluded QSSS (see Excluded QSSS).

and excise taxes, and the license and maintenance fees under

Article 9, the QSSS will continue to be recognized as a separate

Excluded QSSS

corporation. Therefore, a foreign authorized QSSS included in

For an Article 9-A parent, do not include a QSSS taxable (or

the parent’s return (disregarded as a separate taxable entity for

a nontaxpayer QSSS that would be taxable) under Article

franchise tax purposes) must file Form CT-245, Maintenance

9, sections 183, 184, 185, and 186, or Article 32 or 33. For

Fee and Activities Return For a Foreign Corporation Disclaiming

an Article 32 parent, do not include a QSSS taxable (or a

Tax Liability, and pay the maintenance fee.

nontaxable QSSS that would be taxable) under Article 9,

sections 183, 184, 185, and 186, or Article 9-A or 33.

Who must file Form CT-60-QSSS

Employer identification number or TF number

If you are an Article 9-A (general business corporation) or an

Article 32 (bank) taxpayer and you own a QSSS, you must

If the QSSS has or had a federal employer identification number

file Form CT-60-QSSS to inform the Tax Department that the

(EIN), enter that number in the appropriate box. If the QSSS

income, deductions, credits, and other tax attributes of the

does not have an EIN, enter the TF identification number

QSSS will be included on your New York State franchise tax

assigned by the Tax Department. This number may be found on

return for that tax period. This will notify the Tax Department that

Form CT-198, Corporation Tax Account Information, sent when

the QSSS will not be filing a separate franchise tax return for

the corporation first incorporated or became authorized to do

that tax period.

business in New York State. If the QSSS does not have an EIN

or TF number, enter none.

The parent corporation is an S corporation for federal purposes,

but may be either a C corporation or an S corporation for New

Effective date of federal QSSS election

York State purposes. Accordingly, Form CT-60-QSSS applies to

Enter the effective date of the federal QSSS election made for

the following franchise tax returns: CT-3, CT-4, CT-3-A, CT-3-S,

the subsidiary. If the effective date falls on a date other than the

CT-32, CT-32-S, or CT-32-A.

first day of the subsidiary’s tax year, the subsidiary must file a

QSSS information

short period return if it was subject to tax in New York State prior

to the effective date.

Enter in Part 1 the information for each QSSS required to be

included in your franchise tax return, and enter in Part 2 the

Signature

information for each QSSS which you elect to include.

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

treasurer, assistant treasurer, chief accounting officer, or other

Part 1 - QSSS required inclusion

officer authorized by the taxpayer corporation.

If you are a New York S corporation filing Form CT-3-S or

CT-32-S, include every QSSS that you own, regardless of

The return of an association, publicly traded partnership, or

whether the QSSS is itself subject to tax in New York State. Also

business conducted by a trustee or trustees must be signed by

include any lower tier QSSS owned by your QSSS. However, do

a person authorized to act for the association, publicly traded

not include any excluded QSSS (see Excluded QSSS).

partnership, or business.

If you are a New York C corporation filing Form CT-3, CT-4,

If an outside individual or firm prepared the return, all applicable

CT-3-A, CT-32, or CT-32-A, include every QSSS that you own

entries in the paid preparer section must be completed, including

that is itself taxable in New York State, but do not include a

identification numbers (see Paid preparer identification numbers

nontaxpayer QSSS unless a QSSS inclusion election has been

in Form CT-1). Failure to sign the return will delay the processing

made. Also include any lower tier QSSS owned by your QSSS,

of any refunds and may result in penalties.

if the lower tier QSSS is itself taxable in New York State or if

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a QSSS inclusion election has been made. However, do not

include any excluded QSSS (see Excluded QSSS).

See Form CT-1, Supplement to Corporation Tax Instructions.

Part 2 - QSSS elective inclusion

A New York C corporation (filing Form CT-3, CT-4, CT-3-A,

CT-32, or CT-32-A) may elect to include on its franchise tax

return a QSSS that is not taxable in New York State. The

election is effective for the tax year for which the election is

made, and for all succeeding tax years of the corporation until

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Form Ct-60-Qsss - Qualified Subchapter S Subsidiary Information Schedule - New York State Department Of Taxation And Finance - 2012 Page 2

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