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Department of Taxation and Finance

Corporation tax up-to-date information for 2018 (Articles 9, 9-A, 13, and 33)

The following changes were not reflected on the forms for 2018 when they went to print

If any of the following updates impact a tax form that you are responsible for filing, and you have not yet filed such form, you must incorporate these updates when filing such form.

If you have already filed such form, and one of the following updates affects a calculation previously reported, you must file an amended form reflecting such update.

Select a tax form from the following list to identify the changes affecting that form. If a form is not listed, there have been no changes affecting that form. 

CT-3-A
CT-3-A-I

CT-225-A-I


  •  CT-3-A

    • On page 4, Part 3, line 1c, replace the words “dividends received deduction (DRD)” with the words “special deductions”.
    • On Page 4, Part 3, line 1e, replace the acronym “DRD” with the words “special deductions“.
  • CT-3-A-I

    1.  On page 15, 2nd column, under Line 1a instructions, a new 3rd paragraph is added that reads:

    Note: If you were required to include in your calculation of federal CTI an IRC section 965(a) inclusion amount, the inclusion is already reflected in the line 1a amount. Also reflected in the line 1a amount is the deduction amount allowed under IRC section 965(c). §208.9(b)(23) requires that any IRC section 965(c) amount deducted when computing CTI must be added back to FTI. The addback of the IRC section 965(c) deduction amount is included on line 1c, Addback federal consolidated special deductions. Also reflected in the line 1a amount is the IRC section 250(a)(1)(A) deduction, as reduced by IRC section 250(a)(2) (excluding captive REITS and captive RICs). §208.9(b)(24) requires that any IRC section 250(a)(1)(A) amount deducted (as reduced by IRC section 250(a)(2)) when computing federal CTI must be added back to federal CTI. The addback of the IRC section 250(a)(1)(A) amount deducted (as reduced by IRC section 250(a)(2)) is included on line 1c, Addback federal consolidated special deductions. You are allowed the IRC section 250 deduction for the portion of such deduction computed under IRC section 250(a)(1)(B)(i), as reduced by IRC section 250(a)(2). Use Form CT-225-A to report this subtraction modification.”

    2. On Page 15, 2nd column, Line 1a instructions, under “If you file Form 1120-REIT, use:”, a new 3rd bullet is added that reads:

    Note: If you are required to include a captive REIT in your combined return, and the captive REIT is required to include in its calculation of REIT taxable income an IRC section 965(a) inclusion amount, such inclusion, as well as the corresponding IRC section 965(c) amount, is already reflected in the line 1a amount. §208.9(b)(23) requires that any IRC section 965(c) amount deducted when computing federal CTI must be added back to federal CTI. The addback of the IRC section 965(c) deduction amount is reported on Form CT-225-A (do not include this amount on line 1c). A federal election can be made under IRC section 965(m)(1)(B). When this election is made, New York State conforms to it.”

    3. On Page 16, 1st column, Line 1a instructions, under “If you file Form 1120-RIC, use:”, a new 4th bullet is added that reads:

    Note: If you are required to include a captive RIC in your combined return, and the captive RIC is required to include in its calculation of investment company taxable income an IRC section 965(a) inclusion amount, this inclusion, as well as the corresponding IRC section 965(c) amount, is already reflected in the line 1a amount. §208.9(b)(23) requires that any IRC section 965(c) amount deducted when computing federal CTI must be added back to federal CTI. The addback of the IRC section 965(c) deduction amount is reported on Form CT-225-A (do not include this amount on line 1c).”

  • CT-225-A-I

    On page 4, 1st column, the text for code A-510, IRC section 965(c) deduction amount, is changed to read as follows:. 

    (only CT-3-A and CT-33-A filers that have a combined group member that is a captive REIT or captive RIC) You must include the amount of deduction allowed under IRC section 965(c) to the extent such amount was deducted in computing your federal CTI reported on Form CT-3-A, Part 3, line 1g, or, for Form CT-33-A, on Schedule D, line 64 (do not include this amount on Form CT-3-A, line 1c, or on Form CT-33-A, Schedule D, line 65).  Note: A captive REIT can make a federal election under IRC section 965(m)(1)(B). When this election is made, New York State conforms to it. (§§ 208.9(b)(23) and 1503(b)(2)(W))”


Other information

Updated: