Form CT-3-M General Business Corporation MTA Surcharge Return Tax Year 2023-2026

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The document is the CT-3-M form, a tax return for General Business Corporations in New York State, specifically for the MTA surcharge under Tax Law Article 9-A, Section 209-B. It is applicable only for tax periods starting on or after January 1, 2023. The form includes sections for reporting corporate information, calculating the MTA surcharge based on franchise tax, and detailing prepayments and overpayments. Instructions emphasize timely filing to avoid penalties.

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Click ‘Get Form’ to open it in the editor.
Begin by entering your Employer Identification Number (EIN) and the tax period dates. Ensure you mark if this is an amended return.
Fill in the legal name of your corporation, trade name/DBA, and mailing address. If applicable, provide the date your foreign corporation began business in New York State.
Complete the computation of MTA surcharge section by entering your New York State franchise tax amounts on lines 1a and 1b, then calculate the total on line 1.
Follow through with the MCTD apportionment percentage from line 83 and calculate the apportioned franchise tax on line 3.
Continue filling out lines for underpayment, estimated tax penalties, and any overpayments as instructed. Make sure to review all calculations carefully.
Finally, certify your return by signing and providing contact information for both the authorized person and preparer before submitting.

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See more Form CT-3-M General Business Corporation MTA Surcharge Return Tax Year 2023 versions

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What percentage do S Corps get taxed?

What is the tax rate for S corporations? The annual tax for S corporations is the greater of 1.5% of the corporations net income or $800. Note: As of January 1, 2000, newly incorporated or qualified corporations are exempt from the annual minimum franchise tax for their first year of business.

Does NY accept federal extension for corporations?

The State of New York does not accept the Federal tax extension (IRS Form 7004) in place of the state application (Form CT-5). New York Tax Extension Tips: The State of New York does not accept the Federal tax extension (IRS Form 7004) in place of the state application (Form CT-5).

What is NY form CT 3M?

A taxpayer filing Form CT-3, General Business Corporation Franchise Tax Return, or Form CT-3-A, General Business Corporation Combined Franchise Tax Return, under Article 9-A that does business, employs capital, owns or leases property, maintains an office, or derives receipts from activity, in the Metropolitan Commuter

What is the minimum tax on an S Corp in NY?

Key Takeaways NYS imposes a fixed dollar minimum tax on S corporations based on gross receipts, even if they owe no income tax. The NYS S Corp minimum tax for 2024 ranges from $25 to $4,500, depending on the corporations gross receipts and location.

What is the minimum tax for an S corporation in NYS?

NYS S Corp Minimum Tax 2024 NYS Gross ReceiptsMinimum Tax (Outside NYC)Minimum Tax (Doing Business in NYC) Not more than $100,000 $25 $100 $100,001 $250,000 $75 $375 $250,001 $500,000 $175 $500 $500,001 $1,000,000 $300 $1,5002 more rows Aug 6, 2025

ct 3 m instructions

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What is the minimum tax rate for S Corp?

All California LLCs or corporations that choose S Corp taxation must pay a 1.5% state franchise tax on their net income. This is paid by the business itself, not the LLC members or corporate shareholders. Also, all LLCs and S Corps must pay a minimum franchise tax of $800 annually, except for the first year.

How do I pay $800 minimum franchise tax for an S Corp?

1. Pay Online via Web Pay for Businesses: Go to the California FTB Web Pay portal. Select the Corporation option and log in using your entity information. Choose Estimated Tax Payment and select the tax year. Submit your $800 payment.

What is the CT 1040 EXT Form 2023?

Use Form CT-1040 EXT to request a six-month extension to file your Connecticut income tax return for individuals. It is not necessary to include a reason for the Connecticut extension request if you have already filed an extension request on federal Form 4868 with the Internal Revenue Service.

Form CT-3-M General Business Corporation MTA Surcharge Return Tax Year 2023-2026

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How to use or fill out Form CT-3-M General Business Corporation MTA Surcharge Return Tax Year 2023 with our platform

See more Form CT-3-M General Business Corporation MTA Surcharge Return Tax Year 2023 versions

Complete this form in 5 minutes or less

Got questions?

What percentage do S Corps get taxed?

Does NY accept federal extension for corporations?

What is NY form CT 3M?

What is the minimum tax on an S Corp in NY?

What is the minimum tax for an S corporation in NYS?

Security and compliance

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What is the minimum tax rate for S Corp?

How do I pay $800 minimum franchise tax for an S Corp?

What is the CT 1040 EXT Form 2023?

ny ct 3 m instructions 2023

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