To be recognized as an S corporation in New York, you must file Form CT-6 with the New York State Department of Taxation and Finance. This form should be submitted alongside an approved Notice CP261. You should receive IRS Notice CP261 once your 2553 is approved.
You are required to file this form for NY. Although Heard does file Form 2553 to elect S Corp status at the Federal level, we do not complete or file CT-6 on your behalf. However, Heard will certainly assist with any questions along the way.
When to file
Per the IRS, if the corporation is organized within New York State and anticipates being a New York State S corporation for its first tax year, it must file Form CT-6 on or before the fifteenth day of the third month following the effective date of its certificate of incorporation, typically March 15th.
How to complete the form
In order to elect to be treated as an S Corp in NY, you will need to complete and file Form CT-6.
- Enter the legal name of the corporation exactly as it appears in the records of the New York State Department of State.
- Enter the DBA or trade name that appears on the Certificate of Assumed Name filed with the New York State Department of State, if different from the legal name.
- Enter the number of shares of stock issued and outstanding – The number of shares of stock entered in this box should be the number of shares of stock that have been issued to shareholders and have not been reacquired by the corporation. It should equal the total shares of stock owned by all shareholders, as reported in column C, if applicable.
- Continuation sheet or separate consent statement – If you need a continuation sheet or use a separate consent statement, attach it to Form CT6. The separate consent statement must contain the name, address, and employer identification number of the corporation and the shareholder information requested in columns A through D.
- Column A – Enter the name and address of each shareholder.
- Column B – Enter the Social Security number of each shareholder who is an individual. Enter the employer identification number (EIN) of each shareholder that is an estate, a qualified trust, or an exempt organization.
- Column C – Enter the number of shares of stock each shareholder owns and the dates the stock was acquired. An entity without stock, such as a limited liability company (LLC), should enter the percentage of ownership for each member and the dates acquired. Do not list the shares of stock (percentage of ownership) for those shareholders (members) who sold or transferred all of their stock (ownership interest) before the election was made but who still must consent to the election for it to be effective for the tax year. For more information, see the instructions for column D.
- Column D – Each shareholder at the time the election is made must consent to the election by signing in column D or by signing a separate consent statement, described in Continuation sheet or separate consent statement.
- Signature - The election must be certified by the president, vice president, treasurer, assistant treasurer, chief accounting officer, or other officer authorized by the taxpayer corporation.
How to file
This form should be submitted alongside an approved Notice CP261. You should receive IRS Notice CP261 once your 2553 is approved. Once you have completed and signed the form, you can file with the state by faxing it to 518-435-8605.
If you are unable to send a fax, you can send via mail to:
NYS TAX DEPARTMENT
CT-6 PROCESSING
W A HARRIMAN CAMPUS
ALBANY NY 12227-0852