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TEDSHERMAN4
Returning Member

any reason why NY state now looking for ny CT - 3 - S?

Now penalities and interst apply.  Why wouldnt turbo submit this form, and why isnt anyone asking about it?  They all use accountants?

2 Replies
Rick19744
Level 11

any reason why NY state now looking for ny CT - 3 - S?

TT doesn't file any form unless you direct it to do so.  TT isn't artificial intelligence in that just because it may see an S corporation tax return it automatically completes any and all state tax returns and files them.

You, the taxpayer, need to go into the NY state software and make the necessary inputs in order for TT to understand that this then needs to be filed.  Some information may be auto filled, but not necessarily all.

Hopefully you completed the required form CT-6 and have received approval from NY to be taxed as an S corporation.  See the attached from the instructions:

If a corporation is a federal S corporation and wishes to make the election for New York State, the corporation is required to file Form CT-6 and receive approval before filing Form CT-3-S or Form CT-34-SH, New York S Corporation Shareholders’ Information Schedule. Federal approval as an S corporation is not automatic approval for New York State.

*A reminder that posts in a forum such as this do not constitute tax advice.*
ajbaman
New Member

any reason why NY state now looking for ny CT - 3 - S?

according to you go and update ct-3 form update and check your update but when i do that its not updating my form

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