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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 for which 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-3-I
CT-3-S-I
CT-33-I
CT-33-A-I
CT-225-I
CT-225-A-I
CT-641-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 11, 1st column, Part 1, Section A, line 2 instruction, the 1st bullet is changed to read:

    “the New York adjusted basis of the property is at least $1 million at the close of the tax year (see TSB-M-19(5)C, (6)I, New York State Adjusted Basis for Qualified New York Manufacturers); or”

    2.  On page 11, 1st column, Part 1, Section A, Line 4 instructions, 2nd paragraph, last sentence, replace the words “federal income tax purposes” to read:

    “New York State tax purposes (see TSB-M-19(5)C, (6)I)”

    3.  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.”

    4. 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.”

    5. 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-3-I

    1. On page 11, 1st column, Part 1, Section A, line 2 instruction, the 1st bullet is changed to read:

     “the New York adjusted basis of the property is at least $1 million at the close of the tax year (see TSB-M-19(5)C, (6)I, New York State Adjusted Basis for Qualified New York Manufacturers); or”

    2. On page 11, 2nd column, Part 1, Section A, line 4 instruction, 2nd paragraph, replace the words “federal income tax purposes” to read: 

    “New York State tax purposes (see TSB-M-19(5)C, (6)I)”

  • CT-3-S-I

    1. On page 7, 2nd column, line J instruction, 1st bullet, 2nd paragraph, replace the words “federal income tax purposes” to read:

    “New York State tax purposes (see TSB-M-19(5)C, (6)I, New York State Adjusted Basis for Qualified New York Manufacturers)”.

    2. On page 7, 2nd column, 2nd bullet under the Line J instruction, the 1st bullet under the qualified New York manufacturer definition is changed to read:

    “the New York adjusted basis of the property is at least $1 million at the close of the tax year (see TSB-M-19(5)C, (6)I); or”

  • CT-33-I  

    On page 5, 1st column, line 62 instruction, 1st sentence is changed to read:

    “Line 62 – Enter the amount of life insurance company taxable income (LICTI) (including, in the case of a stock life insurance company, the phased inclusion [one-eighth] of the balance in existing policyholders surplus accounts that was required to be included in FTI), plus the NOL deduction included in LICTI as reported to the U.S. Treasury Department for the tax year.”

  • CT-33-A-I 

    On page 7, 1st column, line 64 instruction, 1st sentence is changed to read:

     “Line 64 – Enter the amount of life insurance company taxable income (LICTI) (including, in the case of a stock life insurance company, the phased inclusion [one-eighth] of the balance in existing policyholders surplus accounts that was required to be included in federal taxable income [FTI]), plus the NOL deduction included in LICTI as reported to the U.S. Treasury Department for the tax year.”

  • CT-225-I 

    On page 7, 1st column, immediately following subtraction modification S-512, add new subtraction modification S-513 that reads:

    “S-513 – Amount excluded from the term contribution to capital by IRC section 118(b)(2) (CT-3 and CT-33 filers only) – Enter the amount of contributions to your capital that was included in your federal taxable income as a result of IRC section 118(b)(2). (§§208(9)(a)(20), and 1503(b)(1)(T))”

  • CT-225-A-I

    1. 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))”

    2. On page 5, 2nd column, immediately following subtraction modification S-512, add new subtraction modification S-513 that reads:

    “S-513 – Amount excluded from the term contribution to capital by IRC section 118(b)(2) (CT-3-A and CT-33-A filers only) - Enter the amount of contributions to your capital that was included in your federal taxable income as a result of IRC section 118(b)(2). (§§208(9)(a)(20), and 1503(b)(1)(T))”

  • CT-641-I

    1. On page 1, 2nd column, the definition of “A qualified New York manufacturer” is changed to read:

    A qualified New York manufacturer is a manufacturer that either (1) has property in New York State of the type described for the investment tax credit under Tax Law section 210-B.1(b)(i)(A)* that has an adjusted basis for New York State tax purposes of at least $1 million at the end of the tax year, or (2) has all its real and personal property in New York State.

    2. On page 1, 3rd paragraph under Definitions is changed to read: 

    A taxpayer (or in the case of a combined report, a combined group) that does not satisfy the principally engaged test (see the definition of manufacturer below) may be a qualified New York manufacturer if the taxpayer or the combined group employs at least 2500 employees during the tax year in manufacturing, processing, assembling, refining, mining, extracting, farming, agriculture, horticulture, floriculture, viticulture, or commercial fishing in New York State and the taxpayer or combined group has property in the state used in these activities, the adjusted basis of which for New York State tax purposes at the close of the tax year is at least $100 million.

    For more information, see TSB-M-19(5)C, (6)I, New York State Adjusted Basis for Qualified New York Manufacturers. 

Other information

Updated: