Ct 6 form 2025

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The document provides instructions for federal S corporations to elect to be treated as New York S corporations by filing Form CT-6. It outlines the eligibility requirements, filing deadlines, penalties for late submissions, and the process for shareholder consent. Additionally, it details the tax implications for both the corporation and its shareholders, including necessary forms and procedures for maintaining compliance with New York State tax laws.

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Click ‘Get Form’ to open the CT-6 form in the editor.
Begin by entering the legal name of the corporation as it appears in official records. If applicable, include the DBA or trade name.
Input the number of shares issued and outstanding. This should reflect all shares owned by shareholders that have not been reacquired by the corporation.
In Column A, list each shareholder's name and address. For individuals, enter their social security number in Column B; for estates or trusts, provide their EIN.
In Column C, indicate how many shares each shareholder owns along with the acquisition dates. Exclude any shareholders who sold all their stock before this election.
Ensure each shareholder consents to the election by signing in Column D or attaching a separate consent statement if necessary.
Once completed, fax your CT-6 form to (518) 435-8605 or mail it to the NYS Tax Department at the specified address.

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Does NYS recognize S-corp?

If your shareholders have made an S election for federal purposes, you should be aware that New York State does not automatically treat your company as a New York S corporation unless you are mandated to file as an S corporation under Tax Law section 660(i).

How do I form an S-Corp in New York?

There are ten steps you'll complete to start an S-Corp in New York. Step 1: Choose a Business Name. ... Step 2: Obtain EIN. ... Step 3: Certificate of Incorporation. ... Step 4: Registered Agent. ... Step 5: Corporate Bylaws. ... Step 6: Directors and Meeting Requirements. ... Step 7: Stock Requirements. ... Step 8: Biennial Statement.

How much is corporate tax in NY?

The business income base is based on federal taxable income with certain New York-specific modifications. The default tax rate is 6.5%. However, a lower rate of 4.875% applies to qualified emerging technology companies (QETCs) and a 0.0% rate applies to qualified New York manufacturers.

new york ct 6 instructions

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Does New York have an S-corp tax?

Disadvantage: State and local taxes. For example, in New York City, an S-corp would be subject to the city's 8.85% business tax, on top of state and federal taxes. This could potentially increase the S-corp tax bill significantly and essentially wipe out the other tax advantages offered by this entity structure.

Is there a minimum tax for S Corp?

Every corporation that is incorporated, registered, or doing business in California must pay the $800 minimum franchise tax.

What is a CT6 form?

Shareholders of a New York S corporation should refer to Form CT\u20116.1, Termination of Election to be Treated as a New York S Corporation, for information and instructions regarding the termination or revocation of a New York S election.

Does Cadillac still make a CT6?

The CT6 (discontinued in 2020) was a true driver's car.

Who must file CT-3?

All business corporations subject to tax under Article 9-A, other than New York S corporations, must file franchise tax returns using Form CT-3, unless such corporations are required or permitted to file as members of a combined group (see Form CT-3-A).