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New York Life Insurance Corporation Franchise Tax Return
Extracted from PDF file 2023-new-york-form-ct-33.pdf, last modified October 2023Life Insurance Corporation Franchise Tax Return
CT-33 Department of Taxation and Finance Life Insurance Corporation Franchise Tax Return Tax Law – Article 33 All filers must enter tax period: Amended return beginning Final return Employer identification number (EIN) File number ending Business telephone number ( If you claim an overpayment, mark an X in the box ) Legal name of corporation Trade name/DBA Mailing address State or country of incorporation Care of (c/o) Number and street or PO Box City U.S. state/Canadian province NAICS business code number (from NYS Pub 910) NYS principal business activity ZIP/Postal code Foreign corporations: date began business in NYS Date of incorporation Country (if not United States) For office use only If you need to update your address or phone information for corporation tax, or other tax types, you can do so online. See Business information in Form CT-1. During the tax year did you do business, employ capital, own or lease property, or maintain an office in the Metropolitan Commuter Transportation District? If Yes, you must file Form CT‑33-M (see instructions) ..................... Yes A. Pay amount shown on line 21. Make payable to: New York State Corporation Tax Attach your payment here. Detach all check stubs. (See instructions for details.) A No Payment enclosed B. Federal return filed: (mark an X in one box) Attach a complete copy of your federal return. Form 1120-L Form 1120-PC Consolidated basis Other: Have you been audited by the Internal Revenue Service in the past 5 years?.............................................. Yes No If Yes, list years: Enter primary corporation name and EIN Name EIN Name EIN (if a member of an affiliated federal group): Enter parent corporation name and EIN (if more than 50% owned by another corporation): C. Did you include a disregarded entity in this return? (mark an X in the appropriate box) .................................... Yes If Yes, enter the name and EIN below. If more than one, attach list with names and EINs. Legal name of disregarded entity EIN D. Are you a residual interest holder in a real estate mortgage investment conduit (REMIC)? .......................... Yes E. No No If this corporation is an unauthorized insurance corporation, mark an X in the box...................................................................... Attach a copy of your complete federal return, a copy of your Annual Report of Premiums and Exhibit of Premiums and Losses (New York) as filed with the New York State Department of Financial Services, and copies of the following schedules from your Annual Statement: Assets; Liabilities, Surplus and Other Funds; the Summary by Country portion of Schedule D; the Exhibit of Premiums Written, Schedule T; and Reinsurance Assumed, Part 1 of Schedule S. See page 7 for third-party designee, certification, and signature entry areas. 426001230094 Page 2 of 7 CT-33 (2023) Computation of tax 1 Allocated entire net income (ENI) from line 82.................. × 0.071 1 2 Allocated business and investment capital from line 58.... × 0.0016 2 3 Alternative tax (see instructions; attach computation) ............. × 0.09 3 4 Minimum tax....................................................................................................................................... 4 5 Allocated subsidiary capital from line 47............................ × 0.0008 5 6 Life insurance company premiums (see instructions) .......... × 0.007 6 7 Total tax (amount from line 1, 2, 3, or 4, whichever is greatest, plus lines 5 and 6) ..................................... 7 8 Section 1505(b) floor limitation on tax (see instructions) × 0.015 8 9a Tax before EZ and ZEA tax credits (see instructions)......................................................................... 9a 9b EZ and ZEA tax credits claimed (enter amount from line 100; see instructions) ..................................... 9b 9c Tax after EZ and ZEA tax credits (subtract line 9b from line 9a; do not enter less than 250; see instr.) ..... 9c 10 Section 1505(a)(2) limitation on tax (see instructions) ..... × 0.02 10 11 Tax (see instructions) ......................................................................................................................... 11 12 Tax credits (enter amount from line 101; see instructions) ...................................................................... 12 13 Tax due (subtract line 12 from line 11; if less than zero, enter 0) .............................................................. 13 14a 14b 15 16 Total prepayments from line 99........................................................................................................ 16 17a Balance (see instructions) .................................................................................................................. 17a 17b Additional amount (see instructions) .................................................................................................. 17b 17c Total before penalties and interest (see instructions) ......................................................................... 17c 18 Estimated tax penalty (see instructions; mark an X in the box if Form CT-222 is attached) .............. 18 19 Interest on late payment (see instructions) ......................................................................................... 19 20 Late filing and late payment penalties (see instructions) .................................................................... 20 21 Balance due (add lines 17c through 20 and enter here; enter the payment amount on line A) ................... 21 22a Overpayment (if line 13 is less than line 16, subtract line 13 from line 16) .............................................. 22a 22b Amount of overpayment previously credited to 2024 MFI (see instructions) ...................................... 22b 22c Balance of overpayment available (see instructions) ......................................................................... 22c 23 Amount of overpayment to be credited to next period ..................................................................... 23 24 Balance of overpayment (subtract line 23 from line 22c) ...................................................................... 24 25 Amount of overpayment to be credited to Form CT-33-M ............................................................... 25 26 Refund of overpayment (subtract line 25 from line 24) ......................................................................... 26 27a Refund of tax credits (see instructions) .............................................................................................. 27a 27b Tax credits to be credited as an overpayment to next year’s tax return (see instructions) .................... 27b 28 Allocation percentage (from line 45) .................................................................................................. 28 29 Reinsurance allocation percentage from line 39 ............................................................................. 29 250 00 Schedule A – Allocation of reinsurance premiums when location of risks cannot be determined (see instructions; attach separate sheet if necessary) A B C D Name of ceding company Reinsurance premiums Reinsurance Reinsurance premiums received allocation % allocated to New York State (see instructions) (column B × column C) Totals from attached sheet....................................... 30 Total (add column D amounts; enter here and include on line 34) ...................................................... 30 426002230094 % % CT-33 (2023) Page 3 of 7 Schedule B – Computation of allocation percentage (if you do not claim an allocation, enter 100 on line 45; see instructions) 31 New York taxable premiums (see instructions) ................................................. 31 32 New York ocean marine premiums (see instructions)................................... 32 33 New York premiums for annuity contracts and insurance for the elderly (see instr.)...... 33 34 New York premiums on reinsurance assumed (see instructions) ................. 34 35 Total New York gross premiums (add lines 31 through 34) ........................... 35 36 New York premiums ceded that are included on line 35 (see instructions) 36 37 Total New York premiums (subtract line 36 from line 35) ............................... 37 38 Total premiums (see instructions)................................................................. 38 39 New York premium percentage (divide line 37 by line 38; enter here and on line 29) .................................. 40 Weighted New York premium percentage (multiply line 39 by nine) ......................................................... 41 New York wages, salaries, personal service compensation, and commissions (see instructions).......................................................... 41 42 Total wages, salaries, personal service compensation, and commissions (see instructions).......................................................... 42 43 New York payroll percentage (divide line 41 by line 42) ........................................................................... 44 Total New York percentages (add lines 40 and 43) .................................................................................. 45 Allocation percentage (divide line 44 by ten; if line 39 or 43 is zero, see instructions) ................................... 39 % 40 % 43 % 44 % 45 % Schedule C – Computation and allocation of subsidiary capital (attach separate sheets displaying the information formatted as below if necessary) A – Description of subsidiary capital (list the name of each corporation and the EIN here; for each corporation, complete columns B through G on the corresponding lines below; see instructions) Item A B C D E F G H A Item Name EIN B % of voting stock owned C Average fair market value (see instructions) D Average value of current liabilities attributable to subsidiary capital (see instr.) E Net average fair market value (column C - column D) F Allocation % (see instr.) A B C D E F G H Totals from attached sheet...... 46 Totals (add amounts in columns C, D, and E) 46 47 Allocated subsidiary capital (add column G amounts; enter here and in the first box on line 5) ..................... 47 426003230094 G Value allocated to New York State (column E x column F) Page 4 of 7 CT-33 (2023) Schedule D – Computation and allocation of business and investment capital (see instructions) A Beginning of year B End of year C Average fair market value basis 48 Total assets from annual statement (balance sheet) ............................. 49 Fair market value adjustment (attach 48 computation; if negative amount, use a minus (-) sign) .............................. 50 Nonadmitted assets from annual statement (see instr.) 51 Total assets (add lines 48, 49, and 50) 52 Current liabilities (see instructions)..... 53 Total capital (subtract line 52 from line 51) .................................................................................... 49 50 51 52 53 54 Subsidiary capital from line 46, column E................................................................................... 54 55 Business and investment capital (subtract line 54 from line 53) .................................................... 55 56 Assets, excluding subsidiary assets Beginning of year End of year included on line 54, held as reserves under NYS Insurance Law sections 1303, 1304, and 1305 56 (use same method to value assets as on line 51; see instr.) 57 Adjusted business and investment capital (subtract line 56 from line 55) ..................................... 57 58 Allocated business and investment capital (multiply line 57 by the allocation percentage from line 45; enter here and in the first box on line 2) ...................................................................... 58 Schedule E – Computation of adjustment for gains or losses on disposition of property acquired before January 1, 1974 (you may no longer report gain or loss in the same manner you report it on your federal income tax return; see instructions) A B C – Fair market D E F Description of property Cost price or value on Value realized New York Federal (see instructions) January 1, 1974 on disposition gain or loss gain or loss (attach separate sheet if necessary) (see instructions) (see instructions) (see instructions) (see instructions) Totals from attached sheet 59 Totals (add amounts in columns E and F).................................................................... 59 60 New York adjustment (subtract line 59, column F, from line 59, column E; enter here and on line 66; use a minus (-) sign for negative amounts) ..................................................................................................... 60 Schedule F – Officers (appointed or elected) and certain stockholders (include all officers, whether or not receiving any compensation, and all stockholders owning more than 5% of taxpayer’s issued capital stock who received any compensation) A B C D Name and address Social Security Official title (give actual residence; number attach separate sheet if necessary) Totals from attached sheet ..................................................................................................................................... 61 Totals (add column D amounts) ................................................................................................................ 61 426004230094 Salary and all other compensation received from corporation CT-33 (2023) Page 5 of 7 Schedule G – Computation and allocation of ENI 62 Federal taxable income before net operating loss (NOL) deduction (see instructions) ........................... 62 dditions A 63 Dividends-received and other special deductions (used to compute line 62) .................................... 63 64 Dividend or interest income not included in line 62 (attach list; see instructions) .............................. 64 65 Interest to stockholders: less 10% or $1,000, whichever is greater (see instr.)... 65 66 Adjustment for gains or losses on disposition of property acquired before January 1, 1974 (from line 60) ................................................................................................................................ 66 67 Deductions attributable to subsidiary capital (attach list; see instructions) ........................................ 67 68 New York State franchise tax deducted on federal return (attach list; see instructions) ..................... 68 69a Amount deducted on your federal return as a result of a safe harbor lease (see instructions) ....... 69a 69b Amount that would have been required to be included on your federal return except for a safe harbor lease (see instructions).............................................................................................. 69b 70 Total amount of federal depreciation from Form CT-399 (see instructions) ..................................... 70 71 Other additions (from Form CT-225; see instructions) ................................................................................. 71 72 Total (add lines 62 through 71) .......................................................................................................... 72 Subtractions 73 Income from subsidiary capital (attach list; see instructions) ............................................................. 73 74 Fifty percent of dividends from nonsubsidiary corporations (attach list; see instructions) .................. 74 75 Gain on installment sales made before January 1, 1974 (attach list; see instructions) ...................... 75 76 New York NOL deduction (attach statement showing computation; see instructions) ............................. 76 77a Amount included on your federal return as a result of a safe harbor lease (see instructions).......... 77a 77b Amount that could have been deducted on your federal return except for a safe harbor lease (see instr.) 77b 78 Total amount of New York depreciation allowed under Article 33 section 1503(b) from Form CT-399 (see instructions) .................................................................................................... 78 79 Other subtractions (from Form CT-225; see instructions).................................................................... 79 80 Total subtractions (add lines 73 through 79) ...................................................................................... 80 81 ENI (subtract line 80 from line 72) ...................................................................................................... 81 82 Allocated ENI (multiply line 81 by line 45; enter here and in the first box on line 1) ................................... 82 Schedule H – Computation of premiums (see instructions) Life insurance companies 83 Life insurance premiums....................................................................... 83 84 Accident and health insurance premiums............................................. 84 85 Other insurance premiums (attach list) .................................................. 85 86 Total (add lines 83, 84, and 85; enter column A total in the first box on line 6 and enter column B total in the first box on line 8) ..................................... 86 A Premiums taxable under section 1510 87 Insurance corporations who receive more than 95% of their premiums from annuity contracts, ocean marine insurance, and group insurance on the elderly (see instructions)............................ 87 88 Total (add lines 86 and 87, column B; enter total here and in the first box on line 10).................................. 88 Schedule I 89 90 91 426005230094 B Premiums included in tax limitation/floor computation – section 1505 Page 6 of 7 CT-33 (2023) Schedule J – Composition of prepayments (see instructions) Date paid Amount 92 Mandatory first installment from Form CT-300 (see instructions)................................... 92 93 Second installment from Form CT-400........................................................................ 93 94 Third installment from Form CT-400 ........................................................................... 94 95 Fourth installment from Form CT-400.......................................................................... 95 96 Payment with extension request from Form CT-5, line 5............................................. 96 97 Overpayment credited from prior years (see instructions).................................................................... 97 98 Overpayment credited from Form CT-33-M Period .............................................. 98 99 Total prepayments (add lines 92 through 98; enter here and on line 16) ................................................... 99 Summary of tax credits claimed against current year’s franchise tax (see instructions for lines 9b, 12, 100, and 101) Have you been convicted of an offense, or are you an owner of an entity convicted of an offense, defined in New York State Penal Law Article 200 or 496, or section 195.20? (see Form CT-1; mark an X in one box) .................. Yes No EZ and ZEA tax credits (attach appropriate form for each credit claimed) Form CT-601... Form CT-602...... 100 Total EZ and ZEA tax credits claimed above; amount cannot reduce the tax to less than the minimum tax (enter here and on line 9b) ................................................................................... 100 Tax credits (attach appropriate form or statement for each credit claimed) Fire insurance premiums tax credit.............. Form CT-33-R...... Form CT-33.1.... Form CT-33.2.... Form CT-41.... Form CT-43.... Form CT-44.... Form CT-238... Form CT-249... Form CT-250... Form CT-501... Form CT-604... Form CT-606.... Form CT-607.... Form CT-611.... Form CT-611.1... Form CT-611.2... Form CT-612.... Form CT-613.... Form CT-631.... Form CT-633.... Form CT-634.... Form CT-643.... Form CT-651.... Form CT-652...... Form CT-662 ..... Form DTF-624.... Form DTF-630.... Other credits ..... 101 Total tax credits claimed above; do not include EZ and ZEA tax credits claimed on line 100 (enter here and on line 12) 102 Total tax credits claimed above that are refund eligible (see instructions) .......................................... 101 102 Amended return information If filing an amended return, mark an X in the box for any items that apply and attach documentation. Final federal determination ................. If marked, enter date of determination: NOL carryback..................................... Capital loss carryback ............................................................... Federal return filed: Amended Form 1120-L........ Form 1139 Amended Form 1120-PC.... Net operating loss (NOL) information New York State NOL carryover total available for use this tax year from all prior tax years ................................. Federal NOL carryover total available for use this tax year from all prior tax years.......................................... New York State NOL carryforward total for future tax years.............................................................................. Federal NOL carryforward total for future tax years.......................................................................................... 426006230094 CT-33 (2023) Page 7 of 7 Designee’s name (print) Third – party Yes No designee Designee’s email address Designee’s phone number ( (see instructions) ) PIN Certification: I certify that this return and any attachments are to the best of my knowledge and belief true, correct, and complete. Authorized person Paid preparer use only (see instr.) Printed name of authorized person Signature of authorized person Email address of authorized person Telephone number ( Firm’s name (or yours if self-employed) Signature of individual preparing this return Address Email address of individual preparing this return See instructions for where to file. 426007230094 Official title ) Firm’s EIN Date Preparer’s PTIN or SSN City Preparer’s NYTPRIN State or Excl. code Date ZIP code
Form CT-33 Life Insurance Corporation Franchise Tax Return Tax Year 2023
More about the New York Form CT-33 Corporate Income Tax TY 2023
We last updated the Life Insurance Corporation Franchise Tax Return in January 2024, so this is the latest version of Form CT-33, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form CT-33 directly from TaxFormFinder. You can print other New York tax forms here.
Related New York Corporate Income Tax Forms:
TaxFormFinder has an additional 271 New York income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the New York Form CT-33.
| Form Code | Form Name |
|---|---|
| Form CT-33-D | Tax on Premiums Paid or Payable To an Unauthorized Insurer-For Taxable Insurance Contracts with an Effective Date on or after July 21, 2011.See TSB-M- |
| Form CT-33-NL | Non-Life Insurance Corporation Franchise Tax Return |
| Form CT-33-A | Life Insurance Corporation Combined Franchise Tax Return |
| Form CT-33-A/ATT | Schedules A, B, C, D, and E - Attachment to Form CT-33-A |
| Form CT-33-A/B | Subsidiary Detail Spreadsheet |
| Form CT-33-C | Captive Insurance Company Franchise Tax Return |
| Form CT-33-M | Insurance Corporation MTA Surcharge Return |
| Form CT-33-R | Claim for Retaliatory Tax Credits |
| Form CT-33.1 | Claim for CAPCO Credit |
View all 272 New York Income Tax Forms
Form Sources:
New York usually releases forms for the current tax year between January and April. We last updated New York Form CT-33 from the Department of Taxation and Finance in January 2024.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of New York Form CT-33
We have a total of thirteen past-year versions of Form CT-33 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2023 Form CT-33
Form CT-33 Life Insurance Corporation Franchise Tax Return Tax Year 2023
2022 Form CT-33
Form CT-33 Life Insurance Corporation Franchise Tax Return Tax Year 2022
2021 Form CT-33
Form CT-33 Life Insurance Corporation Franchise Tax Return Tax Year 2021
2020 Form CT-33
Form CT-33 Life Insurance Corporation Franchise Tax Return Tax Year 2020
2019 Form CT-33
Form CT-33:2019:Life Insurance Corporation Franchise Tax Return:ct33
2018 Form CT-33
Form CT-33:2018:Life Insurance Corporation Franchise Tax Return:ct33
2017 Form CT-33
Form CT-33:2017:Life Insurance Corporation Franchise Tax Return:ct33
2016 Form CT-33
Form CT-33:2016:Life Insurance Corporation Franchise Tax Return:ct33
2015 Form CT-33
Form CT-33:2015:Life Insurance Corporation Franchise Tax Return:ct33
2014 Form CT-33
Form CT-33:2014:Life Insurance Corporation Franchise Tax Return:ct33
2013 Form CT-33
Form CT-33:2013:Life Insurance Corporation Franchise Tax Return:ct33
2012 Form CT-33
Form CT-33:2012:Life Insurance Corporation Franchise Tax Return:ct33
2011 Form CT-33
Form CT-33: 2011:Life Insurance Corporation Franchise Tax Return:CT33
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