New York New York S Corporation Franchise Tax Return

New York S Corporation Franchise Tax Return
Form CT-3-S New York S Corporation Franchise Tax Return Tax Year 2023
Department of Taxation and Finance

New York S Corporation Franchise Tax Return
Tax Law – Articles 9-A and 22

Final return (see instructions)

All filers must enter tax period:
beginning

Amended return

Employer identification number (EIN)	

CT-3-S

File number	

If you claim an overpayment,
mark an X in the box ...................................

Business telephone number

(	

		

ending

)

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	

Country (if not United States)

No	

For office use only

New York S election effective date
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.

	 Has the corporation revoked its election to be treated as a New York S corporation?
	 Yes	

Foreign corporations: date began business in NYS

Date of incorporation	

	 Number of shareholders

If Yes, enter effective date:	

	 A	 Pay amount shown on Part 2, line 46. Make payable to: New York State Corporation Tax	
		 Attach your payment here. Detach all check stubs. (See instructions for details.) 	

A

Payment
enclosed
			

You must attach a copy of the following: (1) federal Form 1120S as filed; (2) Form CT-34-SH; (3) Form CT-60, if applicable;
(4) any applicable credit claim forms, (5) Form CT-225, if applicable; and (6) Form CT-227, if applicable.
	B	 If you filed a return(s) other than federal Form 1120S, enter the form number(s) here........
	 C	 Enter your business apportionment factor (from Part 3, line 56)....................................................................................
	 D	 Did the S corporation make an IRC section 338 or 453 election?.........................................................................	Yes	

No

	 E	 Did this entity have an interest in real property located in New York State during the last three years?...............	Yes	

No

	 F	 Has there been a transfer or acquisition of a controlling interest in this entity during the last three years?..........	Yes	

No

	 G	 If the IRS has completed an audit of any of your returns within the last five years, list years.....
	 H	 If this return is for a New York S termination year, mark an X in the appropriate box to indicate which method of accounting was 		
	 	  used for the New York S short year (see New York S corporation termination year in instructions)
	 		
Normal accounting rules	
Daily pro rata allocation
	I	

Mark an X in the box if you are filing Form CT-3-S as a result of the mandatory New York S election of Tax Law, Article 22, section 660(i)...

	 J	 If you are one of the following, mark an X in one box:	

QETC	

Qualified New York manufacturer

	K	 If you filed as a New York C corporation in previous years, enter the last year filed as such.........................................
	L	 Are you a residual interest holder in a real estate mortgage investment conduit (REMIC)?.................................	Yes	

No

	M	 Enter the amount, if any, of tax paid from federal Form 1120S, line 23c ...............................................
	N	 If you include the activities of a qualified subchapter S subsidiary (QSSS), partnership, single member limited liability
		  company (SMLLC), or DISC in this return, or have other affiliated entities, mark an X in the box and attach Form CT-60 ......
440001230094

Page 2 of 6  CT-3-S (2023)
	O	 If you are a foreign corporation computing your tax taking into account only your distributive shares from multiple limited
		  partnerships, mark an X in the box ............................................................................................................................................
	P	 If you made a voluntary contribution to any available funds, mark an X in the box and attach Form CT-227 ..............................

Part 1 – Federal Form 1120S information
Provide the information for lines 1 through 10 from the corresponding lines on your federal Form 1120S, Schedule K, total
amount column. (Show any negative amounts with a minus (-) sign; do not use parentheses or brackets.)
	1	
Ordinary business income or loss....................................................................................................	1
	2	
Net rental real estate income or loss...............................................................................................	
2
	3	
Other net rental income or loss........................................................................................................	
3
	 4	 Interest income................................................................................................................................	
4
	 5	 Ordinary dividends...........................................................................................................................	
5
	 6	 Royalties..........................................................................................................................................	
6
	 7	 Net short-term capital gain or loss...................................................................................................	
7
	8	
Net long-term capital gain or loss....................................................................................................	
8
	9	
Net section 1231 gain or loss..........................................................................................................	
9
	10	Other income or loss........................................................................................................................	 10
	11	Loans to shareholders (from federal Form 1120S, Schedule L, line 7, columns b and d)
		  Beginning of tax year	
End of tax year	
	12	Total assets (from federal Form 1120S, Schedule L, line 15, columns b and d)
		  Beginning of tax year	
End of tax year	
	13	Loans from shareholders (from federal Form 1120S, Schedule L, line 19, columns b and d)
		  Beginning of tax year	
End of tax year
Provide the information for lines 14 through 21 from the corresponding lines on your federal Form 1120S, Schedule M-2.
(Show any negative amounts with a minus (-) sign; do not use parentheses or brackets.)
A
Accumulated adjustments
account

	 14	 Balance at beginning of
		  tax year................................
	 15	 Ordinary income from federal
		  Form 1120S, page 1, line 22...
	 16	 Other additions........................
	 17	 Loss from federal Form 1120S,
		  page 1, line 22......................
	 18	 Other reductions......................
	 19	 Combine lines 14 through 18...
	 20	 Distributions..............................
	 21	 Balance at end of tax year.
		  Subtract line 20 from line 19...

440002230094

B
Shareholders’
undistributed taxable
income previously taxed

C
Accumulated earnings
and profits

D
Other adjustments
account

CT-3-S (2023)  Page 3 of 6

Part 2 – Computation of tax (see instructions)
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	
You must enter an amount on line 22; if none, enter 0.
	22	New York receipts (from Part 3, line 55, column A (New York State))...................................................... 	 22
	23	Fixed dollar minimum tax (see instructions)........................................................................................ 	 23
	 24	 Recapture of tax credits (see instructions).......................................................................................... 	 24
	 25	 Total tax after recapture of tax credits (add lines 23 and 24) .............................................................. 	 25
	 26	 Special additional mortgage recording tax credit (current year or deferred; see instructions) ............... 	 26
	 27	 Tax due after tax credits (subtract line 26 from line 25) ....................................................................... 	 27

First installment of estimated tax for the next tax period:

	28	Enter amount from line 27.................................................................................................................	
	29	If you filed a request for extension, enter amount from Form CT-5.4, line 2.................................... 	
	30	If you did not file Form CT-5.4 and line 28 is over $1,000, enter 25% (0.25) of line 28.
		  Otherwise enter 0 ........................................................................................................................ 	
	31	Add line 28 and line 29 or 30.............................................................................................................	
	Composition of prepayments (see instructions):
Date paid
Amount
	32	Mandatory first installment .................................	32
	33	Second installment from Form CT-400...............	 33
	 34	 Third installment from Form CT-400...................	 34
	 35	 Fourth installment from Form CT-400.................	 35
	 36	 Payment with extension request from
		  Form CT-5.4....................................................	 36
	 37	 Overpayment credited from prior years (see instructions)..................	 37
	38	Total prepayments (add lines 32 through 37) ...................................................................................... 	
	39	Balance (subtract line 38 from line 31; if line 38 is larger than line 31, enter 0) ...........................................	
	 40	 Estimated tax penalty (see instructions; mark an X in the box if Form CT-222 is attached) 	
............... 	
	 41	 Interest on late payment (see instructions) ........................................................................................ 	
	 42	 Late filing and late payment penalties (see instructions) ................................................................... 	
	 43 	 Balance (add lines 39 through 42) ........................................................................................................	

	Voluntary gifts/contributions

28
29
30
31

38
39
40
41
42
43

	 44	 Total voluntary gifts/contributions (from Form CT-227, Part 2, line 1)......................................................	 44	
	 45	 Add lines 31, 40, 41, 42, and 44........................................................................................................	 45
	 46	 Balance due (If line 38 is less than line 45, subtract line 38 from line 45 and enter here. This is the amount
		  due; enter your payment amount on line A on page 1.) .................................................................... 	 46
	 47	 Overpayment (If line 38 is more than line 45, subtract line 45 from line 38 and enter here. This is the
		  amount of your overpayment; see instructions.).....................................................................................	 47
	 48	 Amount of overpayment to be credited to next period (see instructions)............................................ 	 48
	 49	 Refund of overpayment (subtract line 48 from line 47; see instructions) ................................................ 	 49
	 50	 Refund of unused special additional mortgage recording tax credit (see instructions) ...................... 	 50
	 51	 Amount of special additional mortgage recording tax credit to be applied as an overpayment to
		  next period .................................................................................................................................. 	 51

440003230094

No

Page 4 of 6  CT-3-S (2023)

Part 3 – Computation of business apportionment factor (see instructions)
Mark an X in this box only if you have no receipts required to be included in the denominator of the apportionment factor (see instr.)....
A – New York State

Section 210-A.2

B – Everywhere

	1	
Sales of tangible personal property ...................................................... 	
	2	
Sales of electricity ................................................................................ 	
	3	
Net gains from sales of real property ................................................... 	

1
2
3

	 4	 Rentals of real and tangible personal property ..................................... 	
	 5	 Royalties from patents, copyrights, trademarks, and similar intangible
		  personal property .............................................................................. 	
	 6	 Sales of rights for certain closed-circuit and cable TV transmissions
		  of an event ........................................................................................ 	

4

	

7	 Sale, licensing, or granting access to digital products .......................... 	

7

	

8	 To make this irrevocable election, mark an X in the box  (see instructions)...............................................................................	

Section 210-A.3

Section 210-A.4

5
6

Section 210-A.5(a)(1) – Fixed percentage method for qualified financial instruments (QFIs)
Section 210-A.5(a)(2) – Mark an X in each box that is applicable (see line 8 instructions)
Section 210-A.5(a)(2)(A)
	9	
Interest from loans secured by real property ........................................ 	
	10	Net gains from sales of loans secured by real property ....................... 	
	11	Interest from loans not secured by real property (QFI
 ) ............... 	
	12	 Net gains from sales of loans not secured by real property  (QFI
 ).	
Section 210-A.5(a)(2)(B) (QFI
 )
	13	 Interest from federal debt ..................................................................... 	
	 14	
	 15	 Interest from NYS and its political subdivisions debt  ........................... 	
	 16	 Net gains from federal, NYS, and NYS political subdivisions debt ....... 	
	 17	 Interest from other states and their political subdivisions debt  ............ 	
	18	 Net gains from other states and their political subdivisions debt  ......... 	
Section 210-A.5(a)(2)(C) (QFI
 )
	19	 Interest from asset-backed securities and other government agency debt.	
	20	 Net gains from government agency debt or asset-backed securities
		  sold through an exchange ................................................................ 	
	21	 Net gains from all other asset-backed securities .................................. 	
Section 210-A.5(a)(2)(D) (QFI
 )
	22	 Interest from corporate bonds .............................................................. 	
	23	 Net gains from corporate bonds sold through broker/dealer or
		  licensed exchange ............................................................................ 	
	 24	 Net gains from other corporate bonds .................................................. 	
Section 210-A.5(a)(2)(E)
	 25	 Net interest from reverse repurchase and securities borrowing agreements.	
Section 210-A.5(a)(2)(F)
	 26	 Net interest from federal funds ............................................................. 	
Section 210-A.5(a)(2)(I) (QFI
 )
	 27	 Net income from sales of physical commodities .................................. 	
Section 210-A.5(a)(2)(J) (QFI
 )
	 28	 Marked to market net gains .................................................................. 	
Section 210-A.5(a)(2)(H) (QFI
 )
	
210-A.5(a)(2)(G) (QFI
 )
	29	 Interest from other financial instruments .............................................. 	
	30	 Net gains and other income from other financial instruments .............. 	
440004230094

9
10
11
12
13
15
16
17
18
19
20
21
22
23
24
25
26
27
28

29
30

8

CT-3-S (2023)  Page 5 of 6

Part 3 – Computation of business apportionment factor (continued)
A – New York State

Section 210-A.5(b)

	31	
	32	
	33	
	 34	
	 35	
	 36	
	 37	

Brokerage commissions ....................................................................... 	
Margin interest earned on behalf of brokerage accounts ..................... 	
Fees for advisory services for underwriting or management of underwriting .	
Receipts from primary spread of selling concessions .......................... 	
Receipts from account maintenance fees ............................................ 	
Fees for management or advisory services ......................................... 	
Interest from an affiliated corporation ................................................... 	

31
32
33
34
35
36
37

	38	
	39	
	 40	
	 41	
	 42	

Interest, fees, and penalties from credit cards ..................................... 	
Service charges and fees from credit cards ......................................... 	
Receipts from merchant discounts ....................................................... 	
Receipts from credit card authorizations and settlement processing ... 	
Other credit card processing receipts ................................................... 	

38
39
40
41
42

	 43	 Receipts from certain services to investment companies .................... 	

43

	 44	 Global intangible low-taxed income ..................................................... 	

44	

	 45	 Receipts from railroad and trucking business ...................................... 	

45

	 46	 Receipts from the operation of vessels ................................................ 	

46

	 47	 Receipts from air freight forwarding ..................................................... 	
	 48	 Receipts from other aviation services .................................................. 	

47
48

	 49	 Advertising in newspapers or periodicals ............................................. 	
	 50	 Advertising on television or radio ......................................................... 	
	 51	 Advertising via other means ................................................................. 	

49
50
51

	 52	 Transportation or transmission of gas through pipes ........................... 	

52

	 53	 Receipts from other services/activities not specified ............................ 	

53

	 54	 Discretionary adjustments .................................................................... 	

54

	 55	 Add lines 1 through 54 in columns A and B .......................................... 	

55

Section 210-A.5(c)

Section 210-A.5(d)
Section 210-A.5-a
Section 210-A.6

Section 210-A.6-a
Section 210-A.7
Section 210-A.8

Section 210-A.9

Section 210-A.10
Section 210-A.11
Total receipts

B – Everywhere

0	00

Calculation of business apportionment factor

	 56	 New York State business apportionment factor (divide line 55, column A by line 55, column B and enter
		  the resulting decimal here; round to the sixth decimal place after the decimal point; see instructions) .................... 	

440005230094

56

Page 6 of 6  CT-3-S (2023)

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:	

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.

440006230094

Official title

)

Firm’s EIN	

Date
Preparer’s PTIN or SSN

City	
Preparer’s NYTPRIN	

State	
or	

Excl. code	 Date

ZIP code