Instructions for Form CT-33-C Captive Insurance Company Franchise Tax Return - New York

Form CT-33-C Captive Insurance Company Franchise Tax Return - New York

This document contains official instructions for Form CT-33-C , Captive Insurance Company Franchise Tax Return - a form released and collected by the New York State Department of Taxation and Finance. An up-to-date fillable Form CT-33-C is available for download through this link.

FAQ

Q: What is Form CT-33-C?A: Form CT-33-C is the Captive Insurance CompanyFranchise Tax Return for the state of New York.

Q: Who needs to file Form CT-33-C?A: Captive insurance companies operating in New York need to file Form CT-33-C.

Q: What is the purpose of Form CT-33-C?A: The purpose of Form CT-33-C is to calculate and report the franchise tax owed by captive insurance companies in New York.

Q: When is Form CT-33-C due?A: Form CT-33-C is due on March 15th of each year.

Q: Are there any penalties for late filing of Form CT-33-C?A: Yes, there are penalties for late filing. It is important to file the form on time to avoid penalties.

Q: What information do I need to complete Form CT-33-C?A: You will need information about your captive insurance company's income, deductions, and credits to complete Form CT-33-C.

Q: Is there a minimum franchise tax for captive insurance companies in New York?A: Yes, there is a minimum franchise tax of $5,000 for captive insurance companies in New York.

Q: Can I request an extension to file Form CT-33-C?A: Yes, you can request an extension to file Form CT-33-C by filing Form CT-33-EXT.