Instructions for Form CT-6 Election by a Federal S Corporation to Be Treated as a New York S Corporation - New York

Form CT-6 Election by a Federal S Corporation to Be Treated as a New York S Corporation - New York

This document contains official instructions for Form CT-6 , Election by a Federal S Corporation to Be Treated as a New York S Corporation - a form released and collected by the New York State Department of Taxation and Finance. An up-to-date fillable Form CT-6 is available for download through this link.

FAQ

Q: What is Form CT-6?
A: Form CT-6 is a tax form used by a federal S Corporation to elect to be treated as a New York S Corporation.

Q: Why would a federal S Corporation want to be treated as a New York S Corporation?
A: Being treated as a New York S Corporation allows the corporation to be taxed under the state's laws and take advantage of certain tax benefits.

Q: What information do I need to fill out Form CT-6?
A: You will need to provide details about your federal S Corporation, including its federal EIN, the date it became an S Corporation, and its shareholders.

Q: Are there any filing fees for Form CT-6?
A: No, there are no filing fees for Form CT-6.

Q: When is the deadline to file Form CT-6?
A: Form CT-6 must be filed within 60 days of the federal S Corporation's election to be treated as a New York S Corporation.

Q: What happens after I file Form CT-6?
A: Once the form is processed, the New York State Department of Taxation and Finance will notify you of their determination regarding your election to be treated as a New York S Corporation.

Q: Can I revoke my election to be treated as a New York S Corporation?
A: Yes, you can revoke the election by filing a revocation with the New York State Department of Taxation and Finance.