New York Application for Exemption from Corporation Franchise Taxes By a Not-for-Profit Organization

Application for Exemption from Corporation Franchise Taxes By a Not-for-Profit Organization
Form CT-247 Application for Exemption from Corporation Franchise Taxes by a Not-for-Profit Organization Revised 12/20
CT-247

Department of Taxation and Finance

	 pplication for Exemption from Corporation Franchise
A
Taxes by a Not-for-Profit Organization
Mailing name
and address

			 Legal name of corporation					

Employer identification number (EIN)	

(12/20)

For office use only

			
Mailing name (if different from legal name)
			 c/o
			 Number and street or PO box		

City		

State	

ZIP code

	 NYS principal business activity					

Date tax exemption claimed from	

	 Form of organization (mark an X in the appropriate box)						

Business/officer telephone number

	 Corporation	

(	)

Association	

	 Date of formation			

Trust	

Other	

For audit use only

State or country of incorporation	

Taxable	

Exempt

Indicate exact name of the law under which the entity was formed (general corporation, not-for-profit, membership, etc.). Cite statutory provisions.

Federal return filed (mark an X in one):	
Form 990	
Form 990‑T	
Form 1120	
Other:
For lines 1 through 7, mark an X in the Yes or No box
  1 	 Is the entity organized and operated as a not-for-profit organization?.......................................................................	Yes	

No

 2	 Is the entity authorized to issue capital stock? (If Yes, also mark an X in the appropriate box below.)...............................	Yes	
	
Title holding company 	
Collective investment	
Other:
	
List shareholders:

No

  3	 Does any part of the net earnings of the organization benefit any officer, director, or member?...............................	Yes	

No

  4	 Does the entity meet the qualifications for exemption from federal income tax? (See General information).........................	Yes	
	If No, stop. You do not qualify as an exempt organization.

No

  5	 Did the entity apply for federal exemption?................................................................................................................	Yes	
	If Yes, indicate date of exemption	
. Attach a copy of your federal exemption letter.

No

  6	 Is the entity engaged in an unrelated business activity at a location in New York State (NYS)?...............................	Yes	

No

  7	 Is the entity operating as a trust under Internal Revenue Code (IRC) section 401(a) and exempt from federal
	  income tax under IRC section 501(a)?...................................................................................................................	Yes	
  8	 List location and type of activity for each office and other places of business (attach separate sheet if necessary).
	
Location 	
Nature of activity

No

  9	 List officers, employees, agents, and representatives in NYS and briefly describe their duties (attach separate sheet if necessary).
	

Name	

Title	

Duties

10	 List type and use of real property owned in NYS (attach separate sheet if necessary).
	
Type	
How used

11	 Describe any NYS activities not shown above (attach separate sheet if necessary).
Certification: I certify that this application and any attachments are to the best of my knowledge and belief true, correct, and complete.
Willfully filing a false application is a misdemeanor punishable under the Tax Law.
Authorized
person
Paid
preparer
use
only

(see instr.)

Printed name of authorized person	

Signature of authorized person	

	 E-mail address of authorized person	

Telephone number	

(		

	 Firm’s name (or yours if self-employed)		
	 Signature of individual preparing this application	

Official title

Address	

	 E-mail address of individual preparing this application		

)

Firm’s EIN	

Date
Preparer’s PTIN or SSN

City	
Preparer’s NYTPRIN	

State	
or	

Excl. code	 Date

ZIP code

Page 2 of 2  CT-247 (12/20)

Instructions

General information

Certain not-for-profit and religious corporations are
exempt from the New York State (NYS) corporation
franchise tax imposed by Tax Law Article 9-A
(Article 9-A regulations, section 1-3.4(b)(6)). You must file
Form CT-247 to apply for exemption.
Generally, a corporation or an organization treated as a
corporation must meet all of the following requirements to
be tax exempt:
•	 It must be organized and operated as a not-for-profit
organization.
•	 It must not have stock, shares, or certificates for stock
or for shares. Not-for-profit corporations that issue
stock are taxable under Article 9-A. However, title
holding companies as described in Internal Revenue
Code (IRC) section 501(c)(2), and collective investment
entities as described in IRC section 501(c)(25), are
exempt from tax under Article 9-A. For additional
information, see TSB-M-87(9)C, Exemption for Title
Holding Companies (THC) and Collective Investment
Entities (CIE).
•	 No part of its net earnings may benefit any officer,
director, or member.
•	 It must be exempt from federal income taxation under
IRC section 501, subsection (a).
If the organization meets all of the above requirements,
it will be presumed to be exempt from tax under Tax
Law Article 9-A. An organization denied exemption from
taxation under the IRC will be presumed to be subject to
tax under Article 9-A.
An organization whose tax exempt status has been
revoked and later restored by the Internal Revenue
Service (IRS), must file a new application on
Form CT-247. The new application must be approved
before any tax-exempt status under Article 9-A is restored.
Not-for-profit, nonstock organizations that are subject to
the federal tax on unrelated business income are taxable
under NYS Tax Law Article 13, if they pursue those
unrelated business activities in NYS. File Form CT-13,
Unrelated Business Income Tax Return, to report those
activities.
Organizations required to file federal Form 1120 may
be taxable under Article 9-A and may be required to file
Form CT-3, General Business Corporation Franchise Tax
Return.
When filing Form CT-247, submit all documents
granting or denying exemption from tax by the IRS, the
corporation’s articles of incorporation, and its bylaws.
Promptly report any changes in the corporation’s federal
tax status to the NYS Tax Department.
Any exemption granted by the filing of Form CT-247 is
strictly for NYS corporation franchise tax. For federal
exemption, contact the IRS.

Any inquiry on the taxable status of an organization must
be in writing, signed by an officer of the organization, and
mailed to the address under How to file.

Refund of franchise taxes

If the organization paid franchise taxes in error, request
a refund by filing an amended return. A housing
development fund company must submit proof that it was
organized under Private Housing Finance Law Article 11.

How to file
Fax to:

518-435-2995 (preferred response method)
Or mail to: NYS Tax Department, Corporation Tax Account
Resolution, W A Harriman Campus, Albany NY 12227-0852.
Private delivery services
See Publication 55, Designated Private Delivery Services.

Signature

The application must be certified by the president, vice
president, treasurer, assistant treasurer, chief accounting
officer, or other officer authorized by the taxpayer
corporation.
The application of an association, publicly traded
partnership, or business conducted by a trustee or
trustees must be signed by a person authorized to act for
the association, publicly traded partnership, or business.
If an outside individual or firm prepared the application,
all applicable entries in the paid preparer section must
be completed, including identification numbers (see Paid
preparer identification numbers in Form CT-1). Failure
to sign the application will delay the processing of any
refunds and may result in penalties.

Need help? and Privacy notification

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