Instructions for Form CT-3.1 Investment and Other Exempt Income and Investment Capital - New York

Form CT-3.1 Investment and Other Exempt Income and Investment Capital - New York

This document contains official instructions for Form CT-3.1 , Investment and Other Exempt Income and Investment Capital - a form released and collected by the New York State Department of Taxation and Finance. An up-to-date fillable Form CT-3.1 is available for download through this link.

FAQ

Q: What is Form CT-3.1?
A: Form CT-3.1 is a form used in New York to report investment and other exempt income and investment capital.

Q: Who needs to file Form CT-3.1?
A: Corporations that have investment and other exempt income and investment capital in New York need to file Form CT-3.1.

Q: What is considered investment income?
A: Investment income includes items such as dividends, interest, capital gains, and rents.

Q: What is other exempt income?
A: Other exempt income refers to income that is exempt from federal income tax but subject to tax in New York.

Q: What is investment capital?
A: Investment capital is the sum of a corporation's investments in stocks, bonds, and other securities.

Q: When is Form CT-3.1 due?
A: Form CT-3.1 is generally due on the same date as the corporation's federal income tax return, which is usually March 15.

Q: Are there any penalties for late filing of Form CT-3.1?
A: Yes, there may be penalties for late filing of Form CT-3.1, so it's important to file on time.

Q: Do I need to include supporting documentation with Form CT-3.1?
A: Yes, you may need to include supporting documentation, such as schedules and statements, with Form CT-3.1.