CT-183: Transportation and Transmission Corporation Franchise Tax Return on Capital Stock (2024)
New York · NY DTF · Used for tax years 2024
Form CT-183 is New York’s Transportation and Transmission Corporation Franchise Tax Return on Capital Stock for 2024. It reports capital stock, assets, liabilities, retained earnings, and dividends to calculate franchise tax, credits, and any balance due or overpayment.
Who files this form
Form CT-183 is the Transportation and Transmission Corporation Franchise Tax Return on Capital Stock under New York Tax Law, Article 9, Section 183. The supplied form does not give complete rules for determining who must file.
- Every taxpayer required to file CT-183 must also file CT-184, except non-local telephone companies.
- If you do business, employ capital, own or lease property, or maintain an office in the Metropolitan Commuter Transportation District, the form says you must also file CT-183-M.
What you'll need
Gather the information and attachments needed for the parts of the return that apply to your corporation:
- Corporation identification details, including EIN, file number, legal name, mailing address, incorporation information, and federal return type.
- Asset values and allocation information for 2024, plus assets, liabilities, and capital figures as of December 31, 2024.
- Stock ownership, share values, dividends, and retained earnings records.
- A profit and loss statement to attach for line 38.
- A list of stock owned in other companies for line 18, showing each corporate name, shares held, and actual value.
- If the corporation purchased its own capital stock during the year, a separate sheet showing the number and kinds of shares, consideration received when the shares were issued, and purchase price of each share.
- Any tax credit forms claimed on line 5. Mark the applicable boxes and attach the forms.
- Prepayment information, including the payment with Form CT-5.9 and overpayments credited from the prior year or Form CT-183-M.
How to file
Complete the applicable schedules and transfer their totals to the tax computation. Line 4 uses the largest amount from lines 1, 2, and 3.
If payment is due, enter the line 11 payment amount on line A. Make payment payable to New York State Corporation Tax, attach it where indicated, and detach all check stubs.
The return includes a certification for an authorized person to sign and date.
The form says to see the instructions for where to file. No filing address or e-file directions are provided in the supplied text.
Common mistakes
- Leaving the allocation percentage blank when no allocation is claimed. The form says to enter 100 on line 24 or 26.
- Completing Schedule E when told not to. Local telephone companies with no more than 1 million access lines in New York State must not complete Schedule E.
- Converting the dividend percentage to a decimal in Schedule E’s tax rate computation. The form specifically says not to do this when multiplying by .000375.
- Missing the overpayment checkbox. If you claim an overpayment, mark an X in the box on the first page.
- Leaving check stubs attached. The payment directions say to detach all check stubs.
Questions people ask
What is the minimum tax shown on the form?
Line 3 shows a $75 minimum tax. Line 4 takes the largest amount from the allocated capital stock tax, the dividend-based tax, or the minimum tax, before tax credits.
Which prepayments go on line 7?
Line 7 comes from Schedule F, line 82. It includes the extension-request payment from Form CT-5.9, line 5, an overpayment credited from the prior year, and an overpayment credited from Form CT-183-M.
What can I do with an overpayment?
The form provides lines to credit an overpayment to the next period, credit it to Form CT-183-M, or request a refund of the remaining amount.
Can I update the corporation’s address or phone information online?
Yes. The form says these details can be updated online and refers you to Business information in Form CT-1.