CT-186-M: Utility Corporation MTA Surcharge Return (2024)
New York · NY DTF · Used for tax years 2024
Form CT-186-M is New York’s Utility Corporation MTA Surcharge Return for calendar year 2024, for continuing section 186 taxpayers only (certain independent power producers). It reports the Metropolitan Commuter Transportation District allocation percentage, calculates the MTA sur
Who files this form
Form CT-186-M is the Utility Corporation MTA Surcharge Return for continuing section 186 taxpayers only, described on the form as certain independent power producers. This version is for calendar year 2024.
What you'll need
Have the following information available to complete the return:
- Your corporation’s EIN, file number, principal business activity, legal name, mailing address, and incorporation details.
- Gross earnings from operating revenue, interest and dividends, and other revenues for both the MCTD and New York State.
- Form CT-186, including the net New York State franchise tax on line 7 and any overpayment credited to this return.
- Form CT-5.6, if you requested an extension, for the amounts on lines 7 and 10.
- Form CT-400 installment amounts, plus dates and amounts of prepayments and overpayments credited from prior years.
- The authorized signer’s name, title, contact information, signature, and date.
How to file
Complete the return and have the authorized person sign and date the certification.
If enclosing a payment, pay the amount on line 16 and enter the payment amount on line A. Make it payable to New York State Corporation Tax, attach it in the space indicated, and detach all check stubs.
The form says to see the instructions for where to file. No instructions were provided, so the supplied text does not give a mailing address or e-file directions.
Common mistakes
- If you claim an overpayment, mark an X in the overpayment box.
- Detach all check stubs before attaching your payment.
- Enter the payment amount on line A as directed by line 16.
- If Form CT-222 is attached, mark an X in the box on line 13.
- Enter total prepayments from line 27 on line 11 as well.
Questions people ask
How do I calculate the MCTD allocation percentage?
Divide total gross earnings on line 4, column A (MCTD), by line 4, column B (New York State). Enter the allocation percentage on line 5.
How is the MTA surcharge calculated?
Enter the net New York State franchise tax from Form CT-186, line 7, on line 6. Multiply it by the line 5 allocation percentage to get line 7. Then multiply line 7 by 17% (.17) to calculate the surcharge on line 8.
What can I do with an overpayment?
The form provides lines to credit an overpayment to New York State franchise tax, credit it to the next period’s MTA surcharge, or request a refund.
How can I update my corporation’s address or phone information?
The form says you can update this information online. It directs you to the Business information section in Form CT-1.