Instructions for Form CT-222 Underpayment of Estimated Tax by a Corporation - New York

Form CT-222 Underpayment of Estimated Tax by a Corporation - New York

This document contains official instructions for Form CT-222 , Underpayment of Estimated Tax by a Corporation - a form released and collected by the New York State Department of Taxation and Finance. An up-to-date fillable Form CT-222 is available for download through this link.

FAQ

Q: What is Form CT-222?
A: Form CT-222 is the form used by corporations in New York to report underpayment of estimated tax.

Q: Who needs to file Form CT-222?
A: Corporations in New York who have underpaid their estimated tax throughout the year need to file Form CT-222.

Q: What is the purpose of Form CT-222?
A: The purpose of Form CT-222 is to calculate and report the underpayment of estimated tax by a corporation in New York.

Q: When is the deadline for filing Form CT-222?
A: The deadline for filing Form CT-222 is the same as the deadline for filing your corporation's tax return (usually March 15th).

Q: What happens if a corporation underpays its estimated tax?
A: If a corporation underpays its estimated tax, it may be subject to penalties and interest.

Q: Can I file Form CT-222 electronically?
A: Yes, you can file Form CT-222 electronically through the New York State Department of Taxation and Finance's e-file system.

Q: What supporting documentation do I need to include with Form CT-222?
A: You may need to include copies of federal Form 2220 and federal Schedule J, if applicable, with Form CT-222.

Q: Is there an extension available for filing Form CT-222?
A: Yes, you can request an extension of time to file Form CT-222 by filing Form CT-5.