Corporation tax up-to-date information for 2014 (Articles 9, 9-A, 13, and 33)
The following changes were not reflected on the forms for 2014 when they went to print.
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.
- Various forms
Mailing addresses for many corporation tax forms have changed. The new addresses are on the 2015 forms. Follow this link to see the new mailing addresses for older year forms. (Corporation tax forms for tax years 2014 and before that were recently mailed to the older addresses have been forwarded.)
The line 74 instructions on page 7 should read: If you have other additions to FTI, you must complete Form CT-225-A, New York State Modifications (for filers of combined franchise tax returns). Enter the amount from Form CT-225-A, line 5.
The line 83 instructions on page 8 should read: If you have other subtractions from FTI, you must complete Form CT-225-A, New York State Modifications (for filers of combined franchise tax returns). Enter the amount from Form CT-225-A, line 10.
Subtraction modification code S-108 on page 4 must no longer be used and is replaced for Form CT-3-S filers with new subtraction modification code S-217.
This new subtraction modification code will be used by Form CT-3-S filers to report taxable refunds (with the exception of franchise tax refunds) included in federal income.
If an S corporation shareholder received what was an ES-108 modification, enter subtraction modification code ES-217 instead of subtraction modification code ES-108.
Page 5 of Form CT-225-I should include this subtraction modification code and read as follows:
S-217 Taxable refunds or credits (Form CT-3-S filers only) - Include the amount of any refund or credit of the tax (including the New York City unincorporated business tax and any taxes imposed under Tax Law Article 23 (MCTMT)) that was properly included as income for federal income tax purposes by the New York S corporation, and for which no exclusion or deduction was allowed in computing the federal income of the New York S corporation for any prior year.
2) (Posted May 25, 2016) Chapter 60 of the Laws of 2016 amended the definition of real property tax for the manufacturer's real property tax credit. The amendment is effective for tax years beginning on or after January 1, 2014. The bolded text below has been added to the definition. The instructions will not be updated for this law change until 2016.
Real property tax means a charge imposed upon real property by or on behalf of a county, city, town, village, or school district for municipal or school district purposes, provided that the charge is levied for the general public welfare by the proper taxing authorities at a like rate against all property over which such authorities have jurisdiction, and provided that where taxes are levied pursuant to Real Property Tax Law, Article 18 or 19, the property must have been taxed at the rate determined for the class in which it is contained, as provided by such article, whichever is applicable.
The term real property tax includes taxes paid by the taxpayer on real property principally used during the tax year by the taxpayer in manufacturing where the taxpayer leases such real property from an unrelated third party if the following conditions are satisfied:
- the tax must be paid by the taxpayer as lessee pursuant to explicit requirements in a written lease, and
- the taxpayer as lessee has paid such taxes directly to the taxing authority and has received a written receipt for payment of taxes from the taxing authority.
A taxpayer principally engaged in the production of goods by farming, agriculture, horticulture, floriculture, viticulture, or commercial fishing that satisfies the above conditions, is eligible if the taxpayer leases such real property from a related or unrelated third party.
In the case of a combined group that constitutes a qualified New York manufacturer, the conditions in the preceding sentence are satisfied if one corporation in the combined group is the lessee and another corporation in the combined group makes the payments to the taxing authority.
The term real property tax does not include a payment made by the taxpayer in connection with an agreement for the payment in lieu of taxes (PILOT) on real property, whether such property is owned or leased by the taxpayer.
The term real property tax does not include a charge for local benefits, including any portion of that charge that is properly allocated to the costs attributable to maintenance or interest, when:
- the property subject to the charge is limited to the property that benefits from the charge;
- the amount of the charge is determined by the benefit to the property assessed; or
- the improvement for which the charge is assessed tends to increase the property value.
The instructions are not being revised to reflect this change.
1) A new version of this form was posted to our Web site on 1/9/15. If you downloaded the form prior to this date, changes were made to the text below and are now reflected in the instructions:
In the third paragraph, last sentence, under Credit information, the instruction now reads as follows (changes are shown in bold):
The amount of property taxes to be excluded may be allocated based upon square footage.
The third paragraph under Definitions, the instruction now reads as follows:
A taxpayer or 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 and the taxpayer or combined group has property in the state used in these activities, the adjusted basis of which for federal income tax purposes at the close of the tax year is at least $100 million.