Instructions for Form CT-3-S New York S Corporation Franchise Tax Return - New York

This document contains official instructions for Form CT-3-S , New York S Corporation Franchise Tax Return - a form released and collected by the New York State Department of Taxation and Finance.

FAQ

Q: What is Form CT-3-S?
A: Form CT-3-S is the New York S Corporation Franchise Tax Return.

Q: Who needs to file Form CT-3-S?
A: S corporations in New York need to file Form CT-3-S.

Q: What is the purpose of Form CT-3-S?
A: The purpose of Form CT-3-S is to report the income, deductions, and tax liability of a New York S corporation.

Q: When is Form CT-3-S due?
A: Form CT-3-S is due on the fifteenth day of the third month after the end of the corporation's taxable year.

Q: What are the penalties for late filing of Form CT-3-S?
A: The penalty for late filing of Form CT-3-S is $50 for each month or part of a month the return is late, up to a maximum of $500.

Q: Are there any extensions available for filing Form CT-3-S?
A: Yes, a six-month extension may be granted if a properly completed Form CT-5 is filed before the original due date of the return.

Q: What are the general instructions for completing Form CT-3-S?
A: The general instructions for completing Form CT-3-S are provided in the official instructions booklet accompanying the form.

Q: Can I make changes to my Form CT-3-S after it has been filed?
A: Yes, amendments to Form CT-3-S can be made by filing Form CT-3-AMX, Amended S Corporation Franchise Tax Return.