CT-33: Life Insurance Corporation Franchise Tax Return (2025)
New York · NY DTF · Used for tax years 2025
Form CT-33 is New York’s Life Insurance Corporation Franchise Tax Return under Tax Law Article 33. It reports income, capital, premiums, allocation amounts, tax credits, and prepayments to calculate franchise tax due or an overpayment.
Who files this form
Form CT-33 is the Life Insurance Corporation Franchise Tax Return under New York Tax Law Article 33. The supplied form does not give detailed rules for who must file it.
If you did business, employed capital, owned or leased property, or maintained an office in the Metropolitan Commuter Transportation District during the tax year, the form says you must also file Form CT-33-M.
What you'll need
The form requires these attachments:
- A complete copy of your federal return.
- Your Annual Report of Premiums and Exhibit of Premiums and Losses (New York), as filed with the New York State Department of Financial Services.
- These parts of your Annual Statement: Assets; Liabilities, Surplus and Other Funds; the Summary by Country portion of Schedule D; Exhibit of Premiums Written, Schedule T; and Reinsurance Assumed, Part 1 of Schedule S.
Depending on your entries, you may also need:
- The appropriate form or statement for each tax credit claimed.
- Calculations for the alternative tax, fair market value adjustment, and New York net operating loss deduction.
- Lists supporting income, deductions, premiums, or other entries where the form asks for them.
- Documentation for applicable amended-return items.
Have your corporation’s EIN, file number, tax-period dates, business information, and prepayment records available to complete the return.
Common mistakes
- Leaving the tax period blank: All filers must enter beginning and ending dates.
- Missing the overpayment box: Mark an X in the box if you claim an overpayment.
- Leaving line 45 blank when not claiming an allocation: Schedule B says to enter 100 on line 45.
- Omitting officers from Schedule F: Include all officers, even those receiving no compensation. Also include stockholders who own more than 5% of the corporation’s issued capital stock and received compensation.
- Using federal gain or loss treatment for certain older property: Schedule E warns that gains or losses on property acquired before January 1, 1974, may no longer be reported in the same manner as on the federal income tax return.
- Reducing tax below the minimum with EZ and ZEA credits: Line 100 says these credits cannot reduce the tax below the minimum tax.
Questions people ask
Who should the payment be made payable to?
Make it payable to New York State Corporation Tax. The form says to pay the amount on line 21, enter the payment amount on line A, attach the payment in the designated area, and detach all check stubs.
What if this return includes a disregarded entity?
Mark Yes in item C and enter the entity’s legal name and EIN. If there is more than one, attach a list of names and EINs.
Can an overpayment be credited instead of refunded?
The form provides lines for crediting an overpayment to the next period or to Form CT-33-M. It also provides a line for a refund of the remaining overpayment.
What extra information is requested for an amended return?
Mark the applicable boxes in the amended-return information area and attach documentation. If you mark the final federal determination box, enter the determination date.