Ct 247 2025

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The document CT-247 is an application form for not-for-profit organizations seeking exemption from New York State corporation franchise taxes. It outlines the eligibility criteria, including being organized as a not-for-profit, not issuing stock, and ensuring that no part of net earnings benefits any individuals associated with the organization. The form requires detailed information about the organization, its activities, and its federal tax status. Additionally, it provides instructions on filing procedures and necessary documentation.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Is the $800 LLC fee tax deductible?

Is the limited liability company fee deductible? Generally, the limited liability fee is considered a deductible ordinary and necessary business expense.

Why am I being charged a franchise tax?

A franchise tax must be paid by enterprises that wish to conduct business in certain states. Franchise tax applies to corporations, partnerships, and many limited liability companies but does not apply to fraternal organizations, non-profits, and some limited liability corporations.

Is CT a 10% surtax?

Connecticut charges a 10% surtax on a businesss tax liability if it has gross proceeds of $100 million or more, or if it files as part of a combined unitary group. This surtax was recently extended and is scheduled to expire on January 1, 2026.

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

The California Minimum Franchise Tax of $800 will be automatically calculated for applicable corporate and S corp returns on CA Form 100, page 2, line 23 or CA Form 100S, page 2, line 21. The amount due for the current return can be paid via the PMT screen or with voucher CA 3586-V.

Do you have to pay the $800 California S corp fee every year?

Also, all LLCs and S Corps must pay a minimum franchise tax of $800 annually, except for the first year. Your business will be required to pay these taxes in advance four times per year in the form of estimated corporate taxes. For more details, check out the Instructions for Form 100-ES.

form ct 247

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Who must file a NYC corporate tax return?

Who has to pay this tax? Corporations that do business, employ capital, or own or lease property, or maintain an office in the city in a corporate or organized capacity must pay this tax.

How do I pay my $800 corporation fee?

California Franchise Tax Board (FTB) - Online Payment Instructions - Estimated Tax Payment or Annual $800 for Corporations Go to Pay | FTB.ca.gov. Under Make a Payment, choose Bank Account. Under the business column, click on Use Web Pay Business. Enter Corporation for entity type. Enter entity ID.

What is the franchise tax for S corp?

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.