INSTRUCTIONS: NEW YORK GENERAL BUSINESS CORPORATION FRANCHISE TAX RETURN (Form CT-3)
New York business corporations can file their state franchise tax owed with a form CT-3. This document is found on the website of the state's Department of Taxation and Finance.
New York General Business Corporation Franchise Tax Return CT-3 Step 1: Give your employer identification number, file number, business phone number, trade name, legal name, the state or country of your incorporation and the date of your incorporation. Foreign corporations should give the date on which they began operations in the state.
New York General Business Corporation Franchise Tax Return CT-3 Step 2: Give your NAICS code number and a brief description of your primary business activity.
New York General Business Corporation Franchise Tax Return CT-3 Step 3: Indicate with a check mark if you operated in an area subject to the MTA tax. If so, you must also file form CT-3M/4M.
New York General Business Corporation Franchise Tax Return CT-3 Step 4: Answer the questions on lines B through H.
New York General Business Corporation Franchise Tax Return CT-3 Step 5: Lines 1 through 25 provide instructions for computing your entire net income base.
New York General Business Corporation Franchise Tax Return CT-3 Step 6: Lines 26 through 41 provide instructions for computing your capital base.
New York General Business Corporation Franchise Tax Return CT-3 Step 7: Lines 42 through 71 provide instructions for computing your minimal taxable income base.
New York General Business Corporation Franchise Tax Return CT-3 Step 8: Lines 72 through 93 provide instructions for computing your tax due. If claiming credits against the current year's franchise tax on line 79, skip to the fifth page and complete lines 100a and 100b. If documenting prepayments already made, complete lines 101 through 106 and transfer the result to line 85.
New York General Business Corporation Franchise Tax Return CT-3 Step 9: Transfer the balance due from line 93 to line A on the first page.
New York General Business Corporation Franchise Tax Return CT-3 Step 10: Lines 94 through 99b concern credits and refunds for overpayments made.
New York General Business Corporation Franchise Tax Return CT-3 Step 11: Lines 108 through 111 concern income paid to shareholders. Complete the rest of the form as instructed. Sign and date the bottom of page 8.
