Form Ct-47.1 - Election Or Termination Of Election To Deem Income For Purposes Of The Farmers' School Tax Credit

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New York State Department of Taxation and Finance
CT-47.1
Election or Termination of Election to Deem Income
(8/12)
For Purposes of the Farmers’ School Tax Credit
Employer identification number
Telephone number
For office use only
( )
Legal name of corporation
Date received
DBA or trade name
(if any)
(if different from legal name)
Mailing name
c/o
Number and street or PO box
City
State
ZIP code
1 Mark an X in the appropriate box:
Termination of election due to
Termination of election due to
shareholder(s) consent
cessation of corporation eligibility
(complete lines 2 and 3)
(complete line 4)
Election
2 Due date, disregarding any extension, of the corporation’s tax return for the year for which the election is to be effective
(mm-dd-yy)
3 Ending date for tax year for which this election is to be effective
(mm-dd-yy)
4 Date of cessation
(mm-dd-yy)
Shareholders’ consent and individual affirmation: By signing below the shareholders of the above corporation agree to make or terminate, as
applicable, the election described in Tax Law, Article 22, section 606(n)(9), and certify that the personal information given below is to the best of their
knowledge and belief true, correct, and complete. If shareholders holding more than one-half, by vote and value, of the shares of stock of the corporation
agree to make the election, then all shareholders, other than New York C corporations, must take into account their pro rata shares of the corporation’s
income and principal payment on farm indebtedness as required in Tax Law section 606(n)(9). Such election is terminated if shareholders holding more
than one-half, by vote and value, of the shares of stock of the corporation agree to such termination.
See instructions if a continuation sheet or a separate consent statement is needed.
B
C
A
Social security number
Shareholder’s signature
Name and address of each
(see instructions)
To be valid, all shareholders agreeing to election
shareholder agreeing to election or termination
or employer
identification number
or termination must signify consent by signing below.
(include ZIP code)
Certification: I certify that this election or termination and any attachments are to the best of my knowledge and belief true, correct,
and complete.
Printed name of authorized person
Signature of authorized person
Official title
Authorized
E-mail address of authorized person
Telephone number
Date
person
(
)
Firm’s name
Firm’s EIN
Preparer’s PTIN or SSN
(or yours if self-employed)
Paid
preparer
Signature of individual preparing this election
Address
City
State
ZIP code
use
only
E-mail address of individual preparing this election
Preparer’s NYTPRIN
Date
(see instr.)
See instructions for where to file.

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