Page 2 of 2 CT-222.1 (2014)
Instructions
Purpose of the form
Use Form CT-222.1 to select one of the two options that can
be elected under Tax Law section 1085(d)(3) to compute the
corporation’s estimated tax under the annualized income
installment method. You may use a single form to make
the election for more than one type of return (for example,
Forms CT-3, General Business Corporation Franchise Tax
Return, and CT-3M/4M, General Business Corporation MTA
Surcharge Return). However, the due date of the election for
each return may be different. If so, a separate Form CT-222.1 is
required.
Who can elect
Any corporation using the annualized income installment
method to compute its estimated tax may elect either option 1
or option 2 by filing Form CT-222.1. If you use the standard
option, do not file Form CT-222.1.
When and where to file
File Form CT-222.1 annually to elect option 1 or option 2, even
if you select the same election each year. File Form CT-222.1
by the due date of your declaration of estimated tax for which
the election is to apply. For information concerning declarations
of estimated tax, including due dates, see Form CT-400-I,
Instructions for Form CT-400. (Note: Form CT-400 is to be
e-filed, so only Form CT-222.1 should be mailed to the address
below.) The election applies only to the tax year for which it is
made. Once the election is made it cannot be revoked for that
tax year.
Mail the completed election to:
NYS ESTIMATED CORPORATION TAX
PO BOX 4136
BINGHAMTON NY 13902-4136
Private delivery services
See Publication 55, Designated Private Delivery Services.
Signature
The election must be certified by the president, vice president,
treasurer, assistant treasurer, chief accounting officer, or other
officer authorized by the taxpayer corporation.
The election of an association, publicly traded partnership, or
business conducted by a trustee or trustees must be signed by
a person authorized to act for the association, publicly traded
partnership, or business.
If an outside individual or firm prepared the election, all
applicable entries in the paid preparer section must be
completed, including identification numbers (see Paid preparer
identification numbers in Form CT-1). Failure to sign the election
will delay the processing of any refunds and may result in
penalties.
Need help? and Privacy notification
See Form CT-1, Supplement to Corporation Tax Instructions.
532002140094