Form Ct-6.1 - Termination Of Election To Be Treated As A New York S Corporation (Page 2 of 2) in pdf

Page 2 of 2 CT-6.1 (8/12)

Instructions

Column C – Enter the number of shares of stock owned and

General information

the date the shares of stock were acquired by each shareholder

A corporation that made the election to be treated as a New

listed in column A.

York S corporation on Form CT-6, Election by a Federal

S Corporation to be Treated as a New York S Corporation,

Column D – Each shareholder listed in column A must signify

must file Form CT-6.1 to terminate the election. Specifically,

consent to the termination or revocation by signing their name

Form CT-6.1 is used to report:

in column D or by signing their name on a separate consent

statement, as described in Continuation sheet or separate

– the termination of the corporation’s taxation as a New York

consent statement.

S corporation under the corporate tax law (Article 9-A or 32); and

If a married couple has a community interest in the stock or

– the termination of the shareholder’s election to include his or

the income from it, both spouses must consent. Similarly, each

her share of the New York S corporation’s items of income,

tenant in common, joint tenant, or tenant by the entirety must

loss, and deductions under the personal income tax law

also consent.

(Article 22) or as unrelated business income for Article 13

taxpayers.

A minor’s consent is made by the minor or the legal guardian.

If no legal guardian has been appointed, the natural guardian

When termination occurs

makes the consent (even if a custodian holds the minor’s stock

An election to treat the corporation as a New York S corporation

under a law patterned after the Uniform Gifts to Minors Act).

will cease to be effective:

An Article 13 shareholder’s consent is made by an elected

– on the day the federal election to be treated as an

officer or other authorized person.

S corporation ceases; or

– where shareholders owning more than 50% of the shares of

Signature

stock revoke the New York S election, on the date specified

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

under Revocation of election; or

treasurer, assistant treasurer, chief accounting officer, or other

– on the day a person who refuses to consent to the New York

officer authorized by the taxpayer corporation.

S corporation treatment becomes a new shareholder.

The election of an association, publicly traded partnership, or

Note: When the termination date is other than the first day of a tax

business conducted by a trustee or trustees must be signed by

year, the corporation will be considered a New York S corporation

a person authorized to act for the association, publicly traded

from the first day of the tax year to the day immediately preceding

partnership, or business.

the termination day and a New York C corporation from the

termination day to the last day of the tax year.

If an outside individual or firm prepared the election, all

applicable entries in the paid preparer section must be

completed, including identification numbers (see Paid preparer

Revocation of election

identification numbers in Form CT-1). Failure to sign the election

The revocation is effective:

will delay the processing of any refunds and may result in

– on the first day of the tax year, if Form CT-6.1 is filed on or

penalties.

before the fifteenth day of the third month of the tax year; or

– on the first day of the following tax year if Form CT-6.1 is filed

How to file

after the fifteenth day of the third month of the tax year; or

Fax Form CT-6.1 to (518) 435-8605.

– on the date specified, if Form CT-6.1 specifies a date on or

If you are unable to send a fax, mail Form CT-6.1 to:

after the date it is filed.

NYS TAX DEPARTMENT

Note: In order for the revocation to be valid, the shareholders

CORPORATION TAX ACCOUNT RESOLUTION UNIT

revoking the New York S election must own more than 50%

W A HARRIMAN CAMPUS

of the shares of stock in the S corporation on the day the

ALBANY NY 12227

revocation is made.

Private delivery services

Specific instructions

See Publication 55, Designated Private Delivery Services.

Enter the legal name of the corporation exactly as it appears

Need help? and Privacy notification

in the records of the New York State Department of State.

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

Enter the DBA or trade name that appears on the Certificate

of Assumed Name filed with the New York State Department of

State.

Continuation sheet or separate consent statement – If you

need a continuation sheet or use a separate consent statement,

attach it to Form CT-6.1. The separate consent statement must

contain the name, address, and employer identification number

of the corporation and the shareholder information requested in

columns A through D.

Column A – If this is a revocation, enter the name and address

of each shareholder consenting to the revocation who owned

shares of stock in the corporation at the time of revocation. If this

is a new shareholder refusal, enter the name and address of the

new shareholder.

Column B – Enter the social security number or employer

identification number of each shareholder listed in column A.

Form Ct-6.1 - Termination Of Election To Be Treated As A New York S Corporation Page 2

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