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Free Nys Ct 245 Form

The NYS CT-245 form is a Maintenance Fee and Activities Return required for foreign corporations doing business in New York State. This form allows corporations to declare their tax liability and provide essential information about their business activities within the state. Proper completion of the CT-245 is crucial for compliance with New York tax regulations.

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The New York State CT-245 form is a crucial document for foreign corporations operating within the state, serving as a Maintenance Fee and Activities Return. This form is essential for ensuring compliance with state tax obligations and must be filed by corporations that wish to disclaim tax liability. It requires detailed information, including the corporation's legal name, trade name, and mailing address, as well as the employer identification number (EIN) and business telephone number. The form also includes sections for reporting the tax period, indicating whether the corporation is taxable or not, and detailing the corporation's principal business activities. Furthermore, it addresses financial aspects, such as maintenance fees, prepayments, and any potential overpayments. Corporations must also provide information about their operations in New York State, including locations of offices, real property ownership, and any services performed. The CT-245 form ensures that foreign corporations accurately report their activities and obligations, thereby facilitating the state's tax administration process.

Similar forms

The NYS CT-245 form is a specific document used by foreign corporations to report maintenance fees and activities in New York State. There are several other forms that share similarities with the CT-245 in terms of purpose, structure, or the information required. Below is a list of seven such documents:

NYS CT-1: This form is used for reporting corporation tax information. Like the CT-245, it requires details about the corporation’s activities, including locations and types of business conducted in New York State.
NYS CT-3: This is the general corporation tax return for New York. It is similar to the CT-245 in that it assesses tax liability based on business activities within the state and requires detailed financial information.
NYS CT-4: This form is utilized for claiming a New York State corporation tax credit. Similar to the CT-245, it necessitates the reporting of business activities and financial information relevant to tax credits.
NYS CT-5: This is the application for a refund of overpaid corporation tax. Like the CT-245, it involves calculations of overpayments and requires a detailed account of the corporation's financial activities.
NYS CT-6: This form is for making a New York S corporation election. It is similar to the CT-245 in that it requires information about the corporation’s structure and activities within New York State.
NYS CT-7: This form is used for reporting New York State excise taxes. It shares similarities with the CT-245 in requiring detailed reporting of business activities and compliance with state tax laws.
NYS CT-9: This is the form for filing a New York State partnership return. Like the CT-245, it requires information on business activities and the allocation of income among partners, reflecting the corporation's operations in the state.

Each of these forms serves a distinct purpose but shares a common thread with the CT-245 in terms of the information needed to comply with New York State tax regulations. Understanding these similarities can help corporations navigate their tax obligations more effectively.

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New York State Department of Taxation and Finance

CT-245 Maintenance Fee and Activities Return

Final

For a Foreign Corporation

return

Disclaiming Tax Liability All ﬁlers must enter tax period:

Amended

Tax Law— Article 9, Section 181.2

beginning

ending

return

Employer identiication number (EIN)

File number

Business telephone number

If you claim an

(

)

overpayment, mark

an X in the box

Legal name of corporation

Trade name/DBA

Mailing name (if different from legal name above)

State or country of incorporation

Date received (for Tax Department use only)

c/o

Number and street or PO box

Date of incorporation

City

State

ZIP code

Foreign corporations: date began

business in NYS

NAICS business code number (from NYS Pub 910)

If address/phone

Audit use

above is new,

If you need to update your address or phone

Taxable

mark an X in the box

information for corporation tax, or other tax

Not taxable

NYS principal business activity

types, you can do so online. See Business

information in Form CT-1.

Date

Location of commercial domicile

Date authorized to do business in New York State

If not authorized to do business in

New York State, mark an X here ..........

A. Pay amount shown on line 6. Make payable to: New York State Corporation Tax				Payment enclosed
	Attach your payment here. Detach all check stubs. (See instructions for details.)		A
			A
Maintenance fee (See Form CT-245-I, Instructions for Form CT-245, for assistance.)

1	............................................Maintenance fee ($300 for a full year; see instructions for short-period return)		1
2	Total prepayments		2
3	Subtotal (if line 2 is less than or equal to line 1, subtract line 2 from line 1) ....	3
4	Interest (see instructions)	4
5	Additional charges (see instructions)	5
6	Balance due (add lines 3, 4, and 5 and enter here; enter the payment amount on line A above)		6
7	......................................Refund of overpayment (if line 1 is smaller than line 2, subtract line 1 from line 2)		7

Activities (For lines 9 through 23, mark an X in the appropriate box.)

8List all locations of ofices and other places of business in and outside New York State (attach additional sheets if necessary)

Location	Nature of activities	Date began

9Does the corporation own or lease real property in New York State (this includes trucking terminals


	used exclusively in interstate commerce)?	Yes
10	Does the corporation maintain inventory or own or lease property in New York State?	Yes
	If Yes, explain
11	Does the corporation employ any other assets in New York State?	Yes
	If Yes, explain
12	Did the corporation perform services in New York State?	Yes
	If Yes, attach a separate sheet with details.
13	Does the corporation own assets in New York State that are leased to others?	Yes
	If Yes, explain

14Did the corporation perform any construction, erection, installation or repair work, or other

services in New York State?		Yes	No
If Yes, explain		(continued on page 2)

417001140094

Page 2 of 2 CT-245 (2014)

15Did the corporation participate in a partnership, limited liability company/partnership, or joint venture doing

business in New York State?

Yes

16Did the oficers or employees of the corporation do any of the following in New York State?

a.	Perform public relations activities	Yes
b.	Furnish technical advice to retailers or consumers	Yes
c.	Investigate claims	Yes
d.	Collect accounts	Yes
e.	Perform services	Yes
f.	Approve or reject orders	Yes
g. Perform other activities (attach an explanation)		Yes
h. Coordinate or supervise, or both, the activities of a subsidiary that is taxable in New York State		Yes
If you answered Yes to any of the above questions (16a-h), attach a separate sheet with details of the
	activities, including continuity, frequency, and regularity.

17Transportation corporations only: Did the corporation make any pickups or deliveries in New York State

during this calendar year?	Yes
If Yes, attach a sheet indicating the number of pickups and deliveries made and describe the total activities
of the corporation in this state.

18Is the corporation formed for or engaged in the business of extracting, producing, reining, manufacturing, or

compounding petroleum?

Yes

19Does the corporation sell petroleum products (crude oil, plant condensate, gasoline, aviation fuel, kerosene,

	diesel motor fuel, benzol, fuel oil, residual oil, or liqueied or liqueiable gases such as butane, ethane, or propane)? ...	Yes	No
	If Yes, is any of the petroleum shipped to New York State from a location outside New York State?	Yes	No
20	Does the corporation import petroleum products into New York State for its own consumption?	Yes	No
21	Has the corporation been terminated in the state in which it was incorporated?	Yes	No
	If Yes, enter date of termination
22	Was the corporation previously subject to tax in New York State?	Yes	No
	If Yes, enter date the corporation ceased doing business in New York State

23	Is the corporation a qualiied subchapter S subsidiary (QSSS)?	Yes	No
	If Yes, enter name and federal employer identiication number of the parent corporation

24List all employees, including oficers, employed within New York State (attach additional sheets if necessary).

Name	Title	Date began	Duties and responsibilities	Compensation

Third – party

designee

(see instructions)

		Designee’s name (print)	Designee’s phone number
		Designee’s name (print)	Designee’s phone number
Yes	No		(	)

Designee’s e-mail address				PIN
				PIN

Certiﬁcation: I certify that this return and any attachments are to the best of my knowledge and belief true, correct, and complete.

	Printed name of authorized person		Signature of authorized person				Oficial title
Authorized
person	E-mail address of authorized person				Telephone number				Date
					(	)

Paid	Firm’s name (or yours if self-employed)			Firm’s EIN				Preparer’s PTIN or SSN
preparer
preparer	Signature of individual preparing this return	Address				City		State		ZIP code
use	Signature of individual preparing this return	Address				City		State		ZIP code
use
only
only	E-mail address of individual preparing this return					Preparer’s NYTPRIN			Date

(see instr.)

See instructions for where to ile.

417002140094

Common mistakes

Filling out the NYS CT-245 form can be a straightforward process, but many people make common mistakes that can lead to delays or issues with their submission. One frequent error is failing to provide the correct Employer Identification Number (EIN). This number is essential for identifying your corporation, and inaccuracies can result in processing delays. Always double-check this number before submitting the form.

Another common mistake is not marking the correct tax period. The form requires filers to enter the beginning and ending dates of the tax period. If this information is missing or incorrect, it can complicate the review process. Make sure to fill this section out completely to avoid unnecessary complications.

Many filers also overlook the importance of the legal name of the corporation. It must match exactly with the name registered with the state. If there are discrepancies, it can cause confusion and potentially lead to rejection of the form. Always ensure that the legal name is accurate and complete.

Some individuals forget to indicate whether their corporation is taxable or not taxable. This selection is crucial for determining the corporation's tax obligations. If this box is left unchecked, it can lead to miscalculations or misunderstandings about the corporation's tax status.

Additionally, failing to provide detailed explanations when answering "Yes" to certain questions can be problematic. For example, if the corporation performed services in New York State, a separate sheet with details is required. Omitting this information can lead to delays in processing or additional requests for information.

Finally, many people neglect to sign the form. The certification section must be completed by an authorized person, and without a signature, the form is considered incomplete. Always remember to sign and date the document before submission to ensure it is processed without issues.

More About Nys Ct 245

What is the purpose of the NYS CT-245 form?

The NYS CT-245 form is used by foreign corporations to report their maintenance fees and activities in New York State. This form allows corporations to disclaim tax liability while providing essential information about their business operations within the state. Completing this form accurately is crucial for compliance with New York State tax laws.
Who needs to file the NYS CT-245 form?

Any foreign corporation that conducts business in New York State must file the NYS CT-245 form. This includes corporations that own or lease property, maintain inventory, or perform services in the state. If your corporation has activities in New York, it is important to determine whether you meet the criteria for filing this form.
What information is required on the NYS CT-245 form?

The form requires various details, including:
- Employer Identification Number (EIN)
- Legal name of the corporation
- Trade name or DBA (Doing Business As)
- Date of incorporation
- Principal business activity
- Locations of offices and business activities
Additionally, corporations must indicate whether they own or lease property in New York State and provide information about any services performed within the state.
What is the maintenance fee, and how is it calculated?

The maintenance fee for filing the NYS CT-245 form is typically $300 for a full year. If your corporation is filing for a short period, the fee may be prorated based on the length of time the corporation operated in New York State. It is essential to refer to the instructions provided with the form to ensure the correct fee is submitted.
What should I do if I need assistance with the NYS CT-245 form?

If you require help completing the NYS CT-245 form, you can consult the instructions provided with the form, which offer detailed guidance. Additionally, seeking advice from a tax professional or accountant familiar with New York State tax laws can be beneficial. They can assist you in ensuring that your form is completed accurately and submitted on time.

Misconceptions

Misconception 1: The CT-245 form is only for corporations doing business in New York State.

In reality, the CT-245 form is applicable to foreign corporations as well. These corporations must file the form to disclaim tax liability even if they do not conduct business directly in New York.

Misconception 2: Filing the CT-245 form is optional for foreign corporations.

This is incorrect. Foreign corporations that meet certain criteria must file the CT-245 form to comply with New York tax regulations.

Misconception 3: The maintenance fee is a one-time payment.

The maintenance fee is an annual fee, typically set at $300 for a full year. Corporations must pay this fee each year they are subject to it.

Misconception 4: The CT-245 form can be filed without providing detailed information about business activities.

Detailed information about the corporation's activities in New York is required. This includes locations of offices and the nature of business activities.

Misconception 5: A corporation can file the CT-245 form without an Employer Identification Number (EIN).

An EIN is necessary for filing the CT-245 form. Corporations must provide their EIN to ensure proper identification and processing of the return.

Misconception 6: There are no penalties for failing to file the CT-245 form.

Failure to file the CT-245 form can result in penalties and interest on unpaid amounts. It is essential to file timely to avoid these consequences.

Misconception 7: The CT-245 form is the same as other tax forms for corporations.

The CT-245 form serves a specific purpose related to maintenance fees and tax liability disclaimers. It is distinct from other tax forms that may address different tax obligations.

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Key takeaways

Filling out the NYS CT-245 form is an important process for foreign corporations operating in New York State. Here are some key takeaways to keep in mind:

Tax Period: Always enter the correct tax period at the top of the form. This indicates the timeframe for which you are reporting.
Employer Identification Number (EIN): Your EIN is crucial. Ensure it is accurate as it identifies your corporation for tax purposes.
Claiming Overpayment: If you believe you've overpaid, mark the appropriate box. This initiates the process for a potential refund.
Maintenance Fee: The standard maintenance fee is $300 for a full year. Be aware of any short-period returns that may have different fees.
Detailing Activities: Clearly list all business locations and activities in New York State. This includes any properties owned or leased.
Employment Information: Report all employees in New York State, including their roles and compensation. This information is critical for compliance.
Attachments: If you answer "Yes" to certain questions regarding business activities, be prepared to attach additional sheets with detailed explanations.
Authorized Signatures: Ensure the form is signed by an authorized person within the corporation. This adds legitimacy to your submission.
Submission Instructions: Follow the provided instructions carefully for where and how to file the completed form. Missing this step can lead to delays or penalties.

By keeping these takeaways in mind, you can navigate the NYS CT-245 form more effectively and ensure compliance with New York State tax regulations.

Nys Ct 245: Usage Guide

Filling out the NYS CT-245 form can feel overwhelming, but breaking it down into manageable steps makes it easier. After completing the form, you will submit it to the New York State Department of Taxation and Finance, ensuring your corporation complies with state regulations. Follow these steps to fill out the form accurately.

Enter the Tax Period: Fill in the beginning and ending dates for the tax period.
Employer Identification Number (EIN): Provide your corporation's EIN.
File Number: Input your file number.
Business Telephone Number: Enter a contact number for your business.
Claim Overpayment: If you believe there is an overpayment, mark an X in the box.
Legal Name of Corporation: Write the full legal name of your corporation.
Trade Name/DBA: If applicable, include your trade name or "doing business as" name.
Mailing Name: If different from the legal name, provide the mailing name.
State or Country of Incorporation: Indicate where your corporation was incorporated.
Date of Incorporation: Enter the date your corporation was incorporated.
Address: Fill in the street address or P.O. box, city, state, and ZIP code.
Foreign Corporations: If applicable, provide the date you began business in New York State.
NAICS Business Code Number: Enter the NAICS code from NYS Publication 910.
Taxable Status: Mark an X to indicate if your corporation is taxable or not.
Principal Business Activity: Describe the principal business activity of your corporation.
Payment Section: Complete the payment section, including the maintenance fee and any additional charges.
Activities Section: Mark an X for each applicable activity your corporation is engaged in.
Employee Information: List all employees, including their titles, duties, and compensation.
Certification: Have an authorized person sign and date the form, providing their contact information.
Preparer Information: If someone else prepared the form, include their information and signature.

After you’ve completed the form, double-check all entries for accuracy. Gather any required attachments, and then submit the form to the appropriate state department. Make sure to keep a copy for your records.

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