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New York Free Printable Form CT-33-R Claim for Retaliatory Tax Credits Tax Year 2023 for 2024 New York Claim for Retaliatory Tax Credits

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Claim for Retaliatory Tax Credits
Form CT-33-R Claim for Retaliatory Tax Credits Tax Year 2023

CT-33-R Department of Taxation and Finance Claim for Retaliatory Tax Credits Tax Law – Sections 1511(c) and 1511(i) All filers must enter tax period: ending beginning Legal name of corporation Employer identification number File this form with Form CT-33, CT-33-NL, or CT-33-A; but send documentation to address under Retaliatory prints. Part 1 – Computation of section 1511(c) retaliatory tax credit for insurance corporations organized or domiciled in New York State (see instr.) For tax years before 2021, attach separate computation. A 2021 B 2022 C 2023 1 Tax less credits (except for section 1511(c)   retaliatory tax credit) ....................................... 1 2 Section 1511(c) retaliatory tax credit   claimed in 2021 and 2022.......................... 2 3 Balance (subtract line 2 from line 1) ................... 3 4 90% of retaliatory taxes paid in 2023 on   2021 premiums and income   (line 4 may not exceed line 3, column A) ......... 4 5 90% of retaliatory taxes paid in 2023 on   2022 premiums and income (line 5 may not   exceed line 3, column B) .......................................................................... 5 6 90% of retaliatory taxes paid in 2023 on 2023 premiums and income   (line 6 may not exceed line 1, column C) ............................................................................................... 6 7 Total section 1511(c) retaliatory tax credit claimed this year (add lines 4, 5, and 6) .............................. 7 Part 2 – Computation of section 1511(i) retaliatory tax credit for insurance corporations organized or domiciled in New York State (relating to assessments imposed under Public Health Law section 2807-t) (see instructions) For tax years before 2021, attach separate computation. A 2021 B 2022 C 2023 8 Amount of assessment paid under   section 2807-t ............................................ 8 9 Tax less credits (except for section 1511(i)   retaliatory tax credit) ....................................... 9 10 Section 1511(i) retaliatory credit claimed   in 2021 and 2022........................................ 10 11 Balance (subtract line 10 from line 9) ................. 11 12 90% of retaliatory taxes paid to other states   in 2023 because of 2021 section 2807-t   assessments (may not exceed lesser of line 8,   column A, or line 11, column A) ...................... 12 13 90% of retaliatory taxes paid to other states in 2023 because of 2022   2807-t assessments (may not exceed lesser of line 8, column B, or line 11, column B) . 13 14 90% of retaliatory taxes paid to other states in 2023 because of 2023 section 2807-t assessments   (may not exceed lesser of line 8, column C, or line 9, column C) ............................................................. 14 15 Total section 1511(i) retaliatory tax credit claimed this year (add lines 12, 13, and 14) ......................... 15 Part 3 – Computation of total retaliatory tax credits claimed and amount to be credited as an overpayment and/or refunded (sections 1511(c) and 1511(i)) 16 17 18 19 20 Total retaliatory tax credits claimed this year (add lines 7 and 15) ........................................................ 16 Retaliatory tax credits from line 16 used to reduce tax liability (see instructions) ................................. 17 Balance of retaliatory tax credits (subtract line 17 from line 16; see instructions) ..................................... 18 Amount of retaliatory tax credits to be credited as an overpayment to next period (see instructions)  19 Amount of retaliatory tax credits to be refunded (subtract line 19 from line 18; see instructions) .............. 20 See instructions on page 2. 501001230094 Page 2 of 2 CT-33-R (2023) Instructions Part 1 – Computation of section 1511(c) retaliatory tax credit for insurance corporations organized or domiciled in New York State Insurance corporations organized or domiciled in New York State should complete this part to claim credit for 90% of retaliatory taxes paid to other states for the privilege of doing business in those states. a. You may claim credit only for retaliatory taxes paid on business after December 31, 1973. b. Credit may not exceed the tax payable under Article 33 (before adding the tax surcharge) for the tax year for which the retaliatory taxes were imposed or assessed. c. Claim credit on the return for the tax year during which the retaliatory taxes were paid. d. This form does not include the surcharge retaliatory tax credit allowed under Article 33 section 1505-a(d). The surcharge retaliatory tax credit will be computed on Form CT-33-M, Insurance Corporation MTA Surcharge Return, and allowed only against the surcharge computed under section 1505-a. Tax Law section 1511(c) requires a taxpayer to recompute its retaliatory tax credit and recalculate its insurance franchise tax and metropolitan transportation business tax (MTA surcharge) in instances where another state reduces the amount of retaliatory tax due. The credit recomputation must be based on the tax year for which the retaliatory tax was reduced and applied against the corresponding tax year liability. Adjustments to the amount of credit and retaliatory tax may not be offset by credit earned in a different tax period. The taxpayer may report the refund or credit of, or reduction in, retaliatory taxes paid to another state, and the recalculation of the Article 33 tax and the MTA surcharge, by either amending its return for the year in which the retaliatory taxes were claimed as a credit or providing a schedule of the recalculation of the credit, tax, and MTA surcharge liability to the Audit Division, to be mailed to the address under Retaliatory prints. The schedule, or amended return, is due within 90 days of the issuance of a final determination by competent authority that a refund or credit is due for retaliatory taxes or other charges imposed or assessed by another state. In all instances, the amended return or schedule must be accompanied by the payment of the additional tax and surcharge owed (Tax Law, Article 27, section 1081(i) and Article 33, section 1515(e)(2)). Part 2 – Computation of section 1511(i) retaliatory tax credit for insurance corporations organized or domiciled in New York State (relating to assessments imposed under Public Health Law section 2807-t) Insurance corporations organized or domiciled in New York State should complete this part to claim a credit for up to 90% of the retaliatory taxes paid to other states because of the assessment imposed by section 2807-t. Claim credit on the return for the year during which the retaliatory taxes were paid. The amount of the credit claimed may not exceed the lesser of the amount of the assessment paid under section 2807-t, or the tax payable under Article 33 for the tax year for which the retaliatory taxes were imposed or assessed. 501002230094 Part 3 – Computation of total retaliatory tax credits claimed and amount to be credited as an overpayment and/or refunded (sections 1511(c) and 1511(i)) Line 17 – Enter the total retaliatory tax credits claimed and used, which may reduce the total tax due to zero. Transfer this amount to the appropriate box on Form CT‑33, above line 101; Form CT-33-NL, above line 47; or Form CT‑33‑A, above line 116. Lines 18, 19, and 20 – The balance of the retaliatory tax credit computed on line 18 may be either credited as an overpayment on line 19 or claimed as a refund (without interest) on line 20. Include the line 19 amount on Form CT-33, line 27b; Form CT-33-NL, line 21b; or Form CT-33-A, line 32b. Include the line 20 amount on Form CT-33, line 27a; Form CT-33-NL, line 21a; or Form CT-33-A, line 32a. Retaliatory prints Do not send the documentation for this credit (retaliatory prints) with your franchise tax return. Send the documentation to: NYS TAX DEPARTMENT TDAB – CT DESK AUDIT W A HARRIMAN CAMPUS ALBANY NY 12227-5299 Private delivery services – If not using U.S. Mail, see Publication 55, Designated Private Delivery Services. Need help? and Privacy notification See Form CT-1, Supplement to Corporation Tax Instructions.
Extracted from PDF file 2023-new-york-form-ct-33-r.pdf, last modified October 2023

More about the New York Form CT-33-R Corporate Income Tax Tax Credit TY 2023

We last updated the Claim for Retaliatory Tax Credits in January 2024, so this is the latest version of Form CT-33-R, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form CT-33-R 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-R.

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 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-33.1 Claim for CAPCO Credit

Download all NY tax forms 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-R from the Department of Taxation and Finance in January 2024.

Show Sources >

Form CT-33-R is a New York Corporate Income Tax form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.

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-R

We have a total of thirteen past-year versions of Form CT-33-R 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-R

Form CT-33-R Claim for Retaliatory Tax Credits Tax Year 2023

2022 Form CT-33-R

Form CT-33-R Claim for Retaliatory Tax Credits Tax Year 2022

2021 Form CT-33-R

Form CT-33-R Claim for Retaliatory Tax Credits Tax Year 2021

2020 Form CT-33-R

Form CT-33-R Claim for Retaliatory Tax Credits Tax Year 2020

2019 Form CT-33-R

Form CT-33-R:2019:Claim for Retaliatory Tax Credits:ct33r

2018 Form CT-33-R

Form CT-33-R:2018:Claim for Retaliatory Tax Credits:ct33r

2017 Form CT-33-R

Form CT-33-R:2017:Claim for Retaliatory Tax Credits:ct33r

2016 Form CT-33-R

Form CT-33-R:2016:Claim for Retaliatory Tax Credits:CT33R

2015 Form CT-33-R

Form CT-33-R:2015:Claim for Retaliatory Tax Credits:CT33R

Claim for Retaliatory Tax Credits 2014 Form CT-33-R

Form CT-33-R:2014:Claim for Retaliatory Tax Credits:CT33R

Claim for Retaliatory Tax Credits 2013 Form CT-33-R

Form CT-33-R:2013:Claim for Retaliatory Tax Credits:CT33R

2012 Form CT-33-R

Form CT-33-R:2012:Claim for Retaliatory Tax Credits:CT33R

2011 Form CT-33-R

Form CT-33-R:2011:Claim for Retaliatory Tax Credits:CT33R


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