CT-186: Utility Corporation Franchise Tax Return (2025)
New York · NY DTF · Used for tax years 2025
Form CT-186 is New York’s Utility Corporation Franchise Tax Return for calendar year 2025, for continuing section 186 taxpayers only (certain independent power producers). It reports gross earnings, dividends, tax credits, and prepayments to calculate franchise tax and any balanc
Who files this form
Form CT-186 is for continuing Tax Law Article 9, Section 186 taxpayers only, described on the form as certain independent power producers. This version covers calendar year 2025.
If you do business or exercise a corporate franchise in the Metropolitan Commuter Transportation District (MCTD), the form says you must also file Form CT-186-M.
What you'll need
- A copy of the federal return filed, such as Form 1120, to attach to this return.
- Your corporation’s EIN, file number, business contact information, incorporation details, and NAICS business code from NYS Publication 910.
- Gross earnings figures for New York State and everywhere, including operating revenue, interest, dividends, and other revenue.
- Stock, paid-in capital, dividend, and retained earnings information for the schedules.
- Prepayment amounts and payment dates, including applicable Form CT-400 installments, Form CT-5.6 extension payments, and overpayments credited from prior years or Form CT-186-M.
- Applicable tax credit forms, which must be identified on line 6b and attached.
How to file
The form directs you to the instructions for where to file. The provided text does not include a mailing address or e-file directions.
For payment, pay the balance due on line 15 and enter the payment amount on line A. Make the payment payable to New York State Corporation Tax, attach it in the space provided, and detach all check stubs.
Attach a copy of your federal return and any tax credit forms claimed on line 6b. Complete the authorized person’s certification and signature fields.
Common mistakes
- Forgetting to mark the overpayment box when claiming an overpayment.
- Leaving check stubs attached to the payment. The form says to detach all check stubs.
- Omitting the required copy of the federal return or the tax credit forms identified on line 6b.
- Missing the additional Form CT-186-M filing requirement after answering Yes to the MCTD business question.
- Failing to follow the extra-space directions for prepayments: enter all relevant prepayment information on a separate sheet, write “see attached” in the prepayment section, and transfer the total to line 10.
Questions people ask
What minimum tax is shown on the 2025 form?
Line 4 shows a $125 minimum tax. Line 5 uses the larger of the total tax on line 3 or the minimum tax on line 4, before the tax credits on line 6b are subtracted.
Do I need to include a first installment of estimated tax for the next period?
If you filed an extension request, line 8a asks for the amount from Form CT-5.6, line 2. If you did not file Form CT-5.6 and line 7 is over $1,000, line 8b directs you to enter 25% of line 7 and refers you to the instructions.
Can an overpayment be credited instead of refunded?
The form has lines for an overpayment credited to the next period, an amount credited to Form CT-186-M, and an amount to be refunded.
How can I update my corporation’s address or phone information?
The form says you can update this information online. It refers you to “Business information” in Form CT-1.