Form CT-3-S is used by New York S corporations to pay the entity-level franchise tax under Article 9-A instead of Form CT-3. This tax is the fixed dollar minimum tax. To report the New York S corporation items, attach Form CT-34-SH.
Corporations with New York S corporation status must file Form CT-3-S, not Form CT-3.
Fixed Dollar Minimum Tax Calculation
The fixed dollar minimum tax is imposed under ยง 210.1(d). To determine marked-to-market net gains for financial instruments on Form CT-3-S, Part 3, multiply the gains by a fraction. The numerator is the amount included for net gains from actual sales of financial instruments on that line. The denominator is the apportionment fraction amount.
Filing Requirements for New York S Corporations
New York S corporations must file Form CT-3-S or CT-4-S instead of Form CT-3 or CT-4. Use simplified Form CT-4-S if the S corporation’s entire net income is $200,000 or less.
Mail Form CT-3-S and CT-4-S returns to: NYS Corporation Tax, Processing Unit, PO Box 1909, Albany, NY 12201-1909. No extensions beyond six months are granted.
Additional Information
To file S Corp taxes, file Form 1120S. Sign up for email reminders for Form CT-3-S due dates. The next due date is March 15, 2024.