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STATE OF TENNESSEE

DEPARTMENT OF COMMERCE AND INSURANCE

FINANCIAL AFFAIRS SECTION / ANALYTICAL UNIT 0576

500 JAMES ROBERTSON PARKWAY

NASHVILLE, TENNESSEE 37243

(615) 741-1670

TO:

ALL NEW YORK DOMICILED COMPANIES

RE:

RETALIATORY TAX INFORMATION FOR TAX RETURNS

NEW YORK FORM CT-33 AND CT-33M

As in the past, this department requires information acquired from the New York Form

CT-33 (Franchise Tax Return for Insurance Corporations) and CT-33M to be included

as a part of the retaliatory tax calculation. Specifically, we are requesting that a copy of

the New York Franchise Tax Return, Article 33 (Form CT-33) and CT-33M be

completed using Tennessee premiums and wages to calculate the allocation

percentage. Following you will find a summary of the New York CT-33. It is requested

that this summary be completed and mailed in with the completed copy of the Form CT-

33 and CT-33M calculated on a Tennessee basis.

Tenn. Code Ann. § 56-4-218 requires the Commissioner to make a comparison of total

tax and fee burden a foreign company would pay to Tennessee versus what a like or

similar Tennessee insurance company would pay in another state, in this case New

York. The New York income tax must be included in this comparison in addition to the

tax on premiums or any other fees which may be due on a New York basis.

We realize that many New York companies are unable to complete the above forms

prior to the due date (March 1), which is the due date of the Statement of Premiums and

Fees for Taxation form IN-0579 or IN-0581. Therefore, to avoid the monetary penalties

set forth in Tenn. Code Ann. § 56-4-216, the instructions listed below must be followed:

To avoid the ten percent (10%) interest, the CT-33 information using

Tennessee premiums and wages must be filed by March 1 and payment

thereon included with the tax filing, even if estimated amounts must be

used.

To avoid the five percent (5%) penalty [for each of the first two (2)

months] and the additional one-half percent (½%) for each month

thereafter, a REQUEST FOR EXTENSION OF FILING TIME for the CT-

33 information for a period not to exceed 60 days may be granted for good

cause shown provided the REQUEST FOR EXTENSION IS RECEIVED

AND GRANTED PRIOR TO THE DUE DATE, MARCH 1. However, if an

extension is requested and granted, this does not relieve the company

from the ten percent (10%) interest on any retaliatory tax amount which

was due on March 1.

Please remember that the following summary and a copy of the New York Franchise

return and the CT-33M filed on a Tennessee basis is due in this department on or

before March 1 and to avoid the late filing penalty, a request for an extension of filing

the New York CT-33 and CT-33M information must be received by the due date, March

1. Interest will be attached if adequate payment is not made on or before March 1. If

estimated amounts are used in the calculation, please indicate so on the forms.

Your close cooperation on this request is appreciated. Should you have any questions,

please mail your request to the attention of the Tax Audit Section or contact the Tax

Audit Section at (615) 741-1670.

Retaliatory Tax Computation To All New York Domiciled Companies - State Of Tennessee

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