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New York State Department of Taxation and FinanceCorporation Tax MeF Acceptance Testing System for Tax Year 2024

Test 12—CTEF33M

Blank or zero field values are not included. Fields requiring software calculations are not provided. ACH debit payment is required if test results in a balance due. Please use the two-digit codes provided to you to replace the 6th and 7th digits in each test EIN.

Test Scenario

Return type: CT-33, CT-33-M
Liability period: 01-01-2024 – 12-31-2024
EIN: 00219XX12
Legal name: CTEF33M (followed by a space, then your software ID)
File number: Software calculated 
Telephone number: 518-555-2626
Address: 33M WA Harriman Campus, Albany, NY 12227
State of incorporation: NYS
Date of incorporation: 11-01-1988
NAICS business code number: 524113
NYS principal business activity: Life insurance carrier
MCTD area: Yes
Line B. Federal return filed: Consolidated basis
Parent corporation name: CTEF33 Inc
Parent corporation EIN: 111222333


Computation of tax


Line 3. Alternative tax: 1,179,439
Line 6. Life insurance company premiums: 7,526,730
Line 8. Section 1505(b) floor limitations on tax: 7,526,730
Line 10. Section 1505(a)(2) floor limitations on tax: 7,526,730

Schedule A

Allocation of reinsurance premiums when location of risks cannot be determined

A

 Name of ceding company

B

 Reinsurance premiums received

C

 Reinsurance allocation %
CED Company 1 7,483,200 25
CED Company 2 1,401,225 50
CED Company 3 454,247 100

Schedule B

Line 31. New York taxable premiums: 7,625,488
Line 33. New York premiums for annuity contacts and insurance for the elderly: 2,556,023
Line 34. New York premiums on reinsurance assumed: 3,025,660
Line 36. New York premiums ceded that are included on line 35: 5,506,786
Line 38. Total premiums: 22,538,900
Line 41. New York wages, salaries, personal service compensation, and commissions: 222,275
Line 42. Total wages, salaries, personal service compensation, and commissions: 636,274

Schedule C

Computation and allocation of subsidiary capital
Name EIN
A CTEF33M-A 123123123
B CTEF33M-B 456456456
C CTEF33M-C 789789789

Computation and allocation of subsidiary capital continued

Item

B

 % of voting stock owned

C

 Average fair market value

F

 Allocation %
A 100 22,908,235 5.5611
B 100 2,601,000 94.0000
C 100 1,020,800 25.5000

Schedule D

Computation and allocation of business investment capital
Line number Description A Beginning of year B End of year
Line 48 Total assets from annual statement 165,120,191 225,010,950
Line 49 Fair market value adjustment 2,009,560 1,888,650
Line 50 Non-admitted assets from, annual statement 3,225,181 3,561,884
Line 52 Current liabilities 16,000,000 16,226,799
Line 56 Assets, excluding subsidiary assets included on line 54, held as  reserves under NYS insurance law sections 1303, 1304, and 1305 83,248,100 79,643,760

Schedule E—No Content

No content

Schedule F

Officers and certain stockholders

A

Name and address

B

Social security number

C

 Official title

D

 Salary and all other compensation received from corporation

Steve Perry

Journey St Unit 1, San Francisco, CA 94016

 867530909 President 856,249

Neal Schon

Santana Ct Unit 5, San Francisco, CA 94016

 250624000 Vice-President 450,963

Schedule G

Line 62. Federal taxable income before net operating loss deduction: 14,000,225
Line 63. Dividends-received and other special deductions: 13,555
Line 64. Dividends or interest income not included in line 62: 31,020
Line 68. New York State franchise tax deducted on federal return: 79,300
Line 70. Total amount of federal depreciation from form CT-399: 51,988
Line 73. Income from subsidiary capital: 3,665,525
Line 74. Fifty percent of dividends from non-subsidiary corporations: 125,600
Line 78. Total amount of NY depreciation allowed under Article 33 section 1503(b) from form CT-399: 195,700

Schedule H

Line 83. Life insurance premiums: 6,389,600
Line 84. Accident and health insurance premiums: 946,730
Line 85. Other insurance premiums: 190,400

Schedule I—No content

No content

Schedule J

Composition of prepayments
Date paid Amount
Line 92 3-15-2024 41,600
Line 93 6-15-2024 20,500
Line 94 9-15-2024 20,500
Line 95 12-15-2024 20,500

Tax credits claimed

CT-33-R: 4,180
CT-33.1: 19,056

CT-33.1

Parts 1 and 2—Software caclulated

No content

Part 3

Allocated CAPCO credit available for the current tax year

A

Description of CAPCO

B

Total credit allocated to the superintendent of financial services

C

Accumulated credit available in prior tax years
CAPCO CREIT 1 190,556

150,763

CT-33-R

Part 1

Computation of section 1511(c) retaliatory tax credit for insurance corporations organized or domiciled in NYS
Line number Description

A

 2022

B

2023

C

 2024
Line 1 Tax less credits 98,902 132,395 131,479
Line 2 Section 1511(c) retaliatory ttax credit claimed in 2022 and 2023 1,290 3,884
Line 3 90% of retaliatory taxes paid in 2024 on 2022 permiums and income 0
Line 5 90% of retaliatory taxes paid in 2024 on 2023 permiums and income 2,123
Line 6 90% of retaliatory taxes paid in 2024 on 2024 permiums and income 2,057

Part 2—No content

No content

Part 3—Software calculated

No content

CT-399

Part 1—No content

No content

Part 2

Disposition adjustments
Item Property
A Property 1
B Property 2

A

 Item

B

Date placed in service

C

 Total federal depreciation deduction taken

D

 Total NYS depreciation taken
A 2-1-2020 230,900 35,200
B 3-1-2021 9,200 61,188

Part 3—Software calculated

No content

CT-33-M

Line 3b. MCTD Premiums included on line 3a: 2,772,916
Line 6b. MCTD wages included on line 6a: 143,431

Composition of prepayments on line 17
Date paid Amount
Line 39 3-15-2024 2,500
Line 40a 6-15-2024 1,500
Line 40b 9-15-2024 1,500
Line 40c 12-15-2024 1,500
Updated: