Instructions For Form Ct-1 - Supplement To Corporation Tax - New York State Department Of Taxation And Finance - 2012
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5CT-1
New York State Department of Taxation and Finance
Supplement to Corporation Tax Instructions
Legislative changes
Up-to-date information affecting
Articles 9, 9-A, 32, and 33
your tax return
Chapter 59, Laws of 2012
Visit our Web site for the tax law changes or forms corrections
that occurred after the forms and instructions were finalized
E-filing and e-payment mandate changes — The sunset date
(see Need help?).
for the revised provisions established under section 23 of Part U
of Chapter 61 of the Laws of 2011 for tax preparers was extended
through December 31, 2013.
Contents of this form
In addition to the extension of the mandate, the new law changed
Form CT-1 contains both changes for the current tax year and
several provisions of the revised e-file mandate. These changes are
general instructional information, serving as a supplement to
summarized below.
corporation tax instructions.
• For tax years beginning on or after January 1, 2012, and before
This form contains information on the following topics:
January 1, 2014, the e-file mandate threshold for tax preparers
who become subject to the mandate for the first time was
• Changes for the current tax year (non-legislative and legislative)
changed. A tax preparer who prepares tax documents for more
• Business information (how to enter and update)
than 10 different taxpayers during any calendar year, and in a
• Entry formats
succeeding year prepares one or more authorized returns using
tax software, must e-file all authorized tax documents in that
— Dates
succeeding tax year and each tax year thereafter.
— Negative amounts
The tax preparer e-file mandate was previously based on the
— Percentages
number of authorized tax documents prepared by a tax preparer
— Whole dollar amounts
using tax software. Tax preparers that met the prior e-file
• Are you claiming an overpayment?
mandate requirement by preparing more than five authorized
• Third-party designee
tax documents in a previous year are still required to e-file
all authorized tax documents in succeeding tax years if they
• Paid preparer identification numbers
prepare one or more returns using tax software.
• Is your return in processible form?
• Effective March 30, 2012, the definition of an authorized tax
• Use of reproduced and computerized forms
document was changed to exclude any return or report that
• Electronic filing and electronic payment mandate
includes one or more tax documents that cannot be e-filed.
• Web File
For the most up-to-date information on the e-file mandate for tax
• Form CT-200-V
preparers, visit our Web site (see Need help?).
• Collection of debts from your refund or overpayment
• Fee for payments returned by banks
Article 9
• Reporting requirements for tax shelters
Chapter 59, Laws of 2012
• Tax shelter penalties
• Voluntary Disclosure and Compliance Program
Biofuel production credit extended — This credit, previously
scheduled to expire December 31, 2012, was extended through
• Your rights under the Tax Law
tax years beginning before January 1, 2020. For more information
• Need help?
on this credit, see Form CT-243, Claim for Biofuel Production
• Privacy notification
Credit, and its instructions.
Changes for 2012
Article 9-A
Non-legislative changes
Chapter 56, Laws of 2011
Empire State Jobs Retention Program — This program was
Form CT-186-EZ, Telecommunications Tax Return – Short
established to create financial incentives to retain strategic
Form, discontinued — For calendar years beginning in 2012,
businesses and jobs that are at risk of leaving the state due to
every provider of telecommunication services subject to Tax Law
the impact on business operations of an event (such as a natural
Article 9 must now file Form CT-186-E, Telecommunications Tax
disaster) leading to an emergency declaration by the governor.
Return, to report the tax due under section 186-e.
The program offers qualifying businesses a tax credit based
Form CT-400 no longer mailed to you — The Tax Department
on a percentage of the gross wages paid for retained jobs that
no longer preprints and mails Form CT-400, Estimated Tax for
otherwise would have been impacted by the event. For more
Corporations. In most cases, you must Web File Form CT-400 (see
information, see TSB-M-12(3)C, Summary of Corporation Tax
Web File); however, it is also available on our Web site (see Need
Changes Enacted in Extraordinary Legislative Session.
help?). Each May, an updated Form CT-400 will be made available
New York Youth Works Tax Credit Program — This program
online.
(administered by the NYS Department of Labor) was established
to provide tax incentives to qualified businesses employing at-risk
youths in full-time and part-time positions in 2012 and 2013. For
more information, see TSB-M-12(5)C, (4)I, Legislative Amendments
to the New York Youth Works Tax Credit Program.
Tax rates for qualified New York manufacturers who are
considered eligible — For tax years beginning on or after
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