Free CT-32 - New York


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Preview CT-32
CT-32
Amended return
Employer identification number (EIN)

Staple forms here

New York State Department of Taxation and Finance

Banking Corporation Franchise Tax Return
Tax Law -- Article 32
All filers must enter tax period: beginning
File number If the address below is new, mark an X in the box Business telephone number

ending
If you claim an overpayment, mark an X in the box Date of incorporation

(

)

Legal name of corporation

Trade name/DBA

Mailing name (if different from legal name above)

State or country of incorporation

Date received (for Tax Department use only)

c/o
Number and street or PO box County code

City

State

ZIP code

Foreign corporations: date began business in NYS Audit (for Tax Department use only)

NAICS business code number (from federal return)

If your name, employer identification number, address, or owner/officer information has changed, you must file Form DTF-95. If only your address has changed, you may file Form DTF-96. You can get these forms from our Web site, or by fax, or phone. See Need help? section of the instructions.

Principal business activity

ZIP code (U.S. headquarters)

Name of country (foreign headquarters)

or
Type of bank
New York assets

Clearinghouse

Savings

Other commercial

Total assets everywhere

If the IRS has completed an audit of any of your returns in the past 5 years,
. list years During the tax year, did you do business in the Metropolitan Commuter Transportation District (MCTD)? ................ Yes If Yes, you must file Form CT-32-M.

No

A. Pay amount shown on line 15. Make payable to: New York State Corporation Tax Attach your payment here. Detach all check stubs. (See instructions for details.) B. Federal return filed: (mark an X in one box) Form 1120 Form 1120F Attach a complete copy of your federal return. Consolidated basis Other:

Payment enclosed

A.

C. If you included a qualified subchapter S subsidiary (QSSS) in this return, mark an X in the box and attach Form CT-60-QSSS ..........

D. Are you a member of a federal consolidated group? ...................................................................................... Yes If Yes, complete items a through c below. a. Number of corporations included in the federal consolidated group ............................................... b. Total consolidated federal taxable income (FTI) before the net operating loss (NOL) deduction ... c. If 65% or more of the voting stock of this corporation is owned or controlled, directly or indirectly, by another corporation, give the name and employer identification number of that corporation below.
Name Employer identification number

No

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CT-32 (2008)

Schedule A ­ Computation of tax and installment payments of estimated tax (see instructions, Form CT-32-I)
1 Allocated taxable entire net income (ENI) (enter amount from line 61, and multiply by the tax rate of .071) .............................. × .071 1. 2 Allocated taxable alternative ENI from line 69 ...................... × .03 2. 3 Allocated taxable assets (enter amount from line 73..................... and multiply by the appropriate tax rate; mark an X in the box) .00002 .00004 .0001 .... 3. 4 Fixed minimum tax ........................................................................................................................ 4. 5 Franchise tax (amount from line 1, 2, 3, or 4, whichever is largest) ..................................................... 5. 6 Tax credits (see instructions) .......................................................................................................... 6. 7 Net franchise tax (subtract line 6 from line 5) ................................................................................... 7. First installment of estimated tax for next period: 8a If you filed an application for extension, enter amount from Form CT-5, line 2 ............................ 8a. 8b If you did not file Form CT-5 and line 7 is over $1,000, see instructions ...................................... 8b. 9 Total (add line 7 and line 8a or 8b) .................................................................................................... 9. 10 Total prepayments from line 167 .................................................................................................. 10. 11 Balance (if line 10 is less than line 9, subtract line 10 from line 9) ......................................................... 11. 12 Estimated tax penalty (see instructions; mark an X in the box if Form CT-222 is attached) ......... 12. 13 Interest on late payment (see instructions) .................................................................................... 13. 14 Late filing and late payment penalties (see instructions) ................................................................ 14. 15 Balance due (add lines 11 through 14 and enter here; enter payment amount on line A on page 1) ........ 15. 16 Overpayment (if line 9 is less than line 10, subtract line 9 from line 10) ................................................ 16. 17 Amount of overpayment to be credited to the next period ........................................................... 17. 18 Balance of overpayment (subtract line 17 from line 16) ................................................................... 18. 19 Amount of overpayment to be credited to Form CT-32-M ............................................................ 19. 20a Refund of overpayment (subtract line 19 from line 18; see instructions) ............................................. 20a. 20b Refund of unused tax credits (see instructions) ............................................................................. 20b. 20c Tax credits to be credited as an overpayment to next year's tax return (see instructions).............. 20c. 21 Issuer's allocation percentage (see instructions; show computation on page 9) ................................. 21. Schedule B ­ Computation and allocation of ENI (see instructions) 22 FTI before NOL and special deductions ...................................................................................... 22. Additions 23 Dividends and interest effectively connected with the conduct of a trade or business not included on line 22 ............................................................................................................. 23. 24 Income effectively connected with the conduct of a trade or business not included on line 22 ... 24. 25 Dividends and interest not included on line 22 ............................................................................ 25. 26 Income taxes paid to the United States, its possessions, or foreign countries, deducted on federal return ........................................................................................................................... 26. 27 New York State franchise taxes deducted on federal return ........................................................ 27. 28 Total federal depreciation from Form CT-399 and, if applicable, from lines 76 and 78 ................ 28. 29 New York State gains or losses on disposition of property from line 80 ....................................... 29. 30 Amount deducted on your federal return as a result of a safe harbor lease ................................ 30. 31 Amount that would have been required to be included on your federal return except for a safe harbor lease ..................................................................................................................... 31. 32 Amount of special additional mortgage recording tax deducted on your federal return and claimed as a tax credit ............................................................................................................. 32. 33 Any other federal deduction previously allowable as a deduction under Article 9-B or 9-C (attach explanation) ..................................................................................................................... 33. 34 Bad debt deduction allowed under Internal Revenue Code (IRC) section 166 or 585 ................ 34. 35 Twenty percent of the excess of bad debt deduction (see instructions; attach computation) ............ 35. IRC Section 199 deduction: 36 Other additions (see instructions) ..... 36. 37 Total additions (add lines 23 through 36) .......................................................................................... 37.

250 00

%

(continued)

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CT-32 (2008) Page 3 of 10

Schedule B ­ Computation and allocation of ENI (continued)
Subtractions 38 Interest and other expenses not deducted on federal return that are applicable to lines 23, 24, and 25 .................................................................................................................. 38. 39 Enter total amount of allowable New York depreciation from Form CT-399 and, if applicable, from line 79 ............................................................................................................................. 39. 40 Federal gains or losses on disposition of property from lines 81 and 83 ...................................... 40. 41 Federal income or gain from installment method transactions under Article 9-B or 9-C ............. 41. 42 IRC section 78 dividends included in the computation of lines 22 through 25............................. 42. 43 Amount included on your federal return as a result of a safe harbor lease ................................. 43. 44 Amount that would have been deducted on your federal return except for safe harbor lease ..... 44. 45 Amount of wages not deducted on the federal return due to IRC section 280C (see instructions) 45. 46 Amount of money received from the FDIC, FSLIC, or RTC (see instructions) ............................... 46. × 17% (.17) 47 Interest income from subsidiary capital (attach list)......... $ 47. × 60% (.6) 48 Dividend income from subsidiary capital (see instructions) $ 48. × 60% (.6) 49 Net gains from subsidiary capital (see instructions) ......... $ 49. 50 Interest income on obligations of New York State, its political subdivisions, × 22½% (.225) and the United States (attach list) ..................................... $ 50. 51 Adjusted eligible net income of an international banking facility (IBF) from line 107 ........................ 51. 52 Recaptured reserve for losses on loans for IRC section 585(c) taxpayers included on line 22 .... 52. 53 Recoveries of charged-off loans included on line 22 for IRC section 585 taxpayers ................... 53. 54 Bad debt deduction under section 1453(h) (attach computation) ................................................... 54. 55 Bad debt deduction under section 1453(i) (attach computation) .................................................... 55. 56 New York State NOL deduction (see instructions) .......................................................................... 56. 57 Other subtractions from FTI (attach list; include S-6 dividend income: ) 57. 58 Total subtractions (add lines 38 through 57) .................................................................................... 58. 59a ENI (add line 22 and line 37; subtract line 58) .................................................................................... 59a. 59b Allocated ENI (multiply line 59a by % from line 131 or line 123) ................................... 59b. 60 Optional depreciation adjustments (add lines 77 and 82) ................................................................ 60. 61 Allocated taxable ENI (line 59b plus or minus line 60; enter on Schedule A, next to line 1) .................... 61. 62 63 64 65 66 67 68 69 ENI from line 59a .......................................................................................................................... Interest income from subsidiary capital from line 47 ................................................................... Dividend income and net gain from subsidiary capital from lines 48 and 49 ............................... Interest income on obligations of New York State, its political subdivisions, and the United States, from line 50 ............................................................................................................................... Alternative ENI (add lines 62 through 65) ......................................................................................... Allocated alternative ENI: (multiply line 66 by % from line 137 or line 123) ................. Optional depreciation adjustments from line 60............................................................................ Allocated taxable alternative ENI (line 67 plus or minus line 68; enter here and on Schedule A, next to line 2) ............................................................................................................. 62. 63. 64. 65. 66. 67. 68. 69.

Schedule C -- Computation and allocation of alternative ENI

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CT-32 (2008)

Schedule D -- Computation of taxable assets and tax rate (see instructions)
70 71 72 73 Average value of total assets ......................................................................................................... Money or other property received from the FDIC, FSLIC, or RTC (see instructions) ....................... Taxable assets (subtract line 71 from line 70) ...................................................................................... Allocated taxable assets: (multiply line 72 by % from line 161 or line 153; enter here and on Schedule A, next to line 3) ................................................................................... Net worth on last day of the tax year = 74 Compute net worth ratio: Total assets on last day of the tax year ....................... Average quarterly balance of mortgages = 75 Compute percentage of mortgages Average quarterly balance of total assets included in total assets: ................... 70. 71. 72. 73. 74. 75. % %

Tax rates
Use the chart below to determine your tax rate. This rate must be used to compute the alternative minimum tax measured by taxable assets. You must meet both the net worth ratio and percentage of mortgages included in the total assets requirements to qualify for the lower tax rates. Mark an X in the appropriate box in the last column and use this rate on line 3. If the net worth ratio (from line 74) is: Less than 4% At least 4% but less than 5% All others And the % of mortgages included in total assets (from line 75) is: 33% or more 33% or more All others The tax rate is: .00002 .00004 .0001 Indicate the appropriate rate

Schedule E -- Depreciation on certain property when method differs from federal
Part 1 -- Depreciation on qualified New York property acquired between January 1, 1964, and December 31, 1967 (list each property and
the date acquired here; for each property, complete columns C through H on the corresponding lines below; see instructions) Item A B C D E Item A B C D E Totals C Cost D Federal depreciation prior years E Federal depreciation this year F New York depreciation prior years G New York depreciation this year H Undepreciated balance A Description of property B Date acquired

76 Add column E amounts Combine this total with line 78, and enter on line 28. 77 Add column G amounts Combine this total with line 82, and enter on line 60.





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Part 2 -- Other property on which New York depreciation differs from federal
Item A B C D E Item C Cost D Federal depreciation prior years E Federal depreciation this year F G New York depreciation New York depreciation prior years this year H Undepreciated balance A Description of property B Date acquired

A B C D E Totals

78 Add column E amounts Combine this total with line 76, and enter on line 28. 79 Add Part 2 column G amounts; enter on line 39.





Schedule F -- Computation of New York gain or loss on disposition of certain property acquired prior to January 1, 1973 (see instructions)
Part 1 -- Property acquired prior to: 1/1/26 by commercial banks; 1/1/44 by savings banks; 1/1/53 by savings and loan associations
Description of property
A

Cost or fair market price on valuation date

B

Selling price

C

New York gain or loss (column C - column B)

D

Federal gain or loss

E

Totals (use minus (-) sign to indicate negative amount) 80 Add column D amounts; enter on line 29. 81 Add column E amounts; combine this total with line 83, and enter on line 40. Part 2 -- Property on which optional depreciation was claimed or on which the method used for New York State differed from federal depreciation deducted
Description of property
A

Depreciation basis for New York State

B

Selling price

C

New York gain or loss (column C - column B)

D

Federal gain or loss

E

Totals (use minus (-) sign to indicate negative amount) 82 Add column D amounts; combine this total with line 77, and enter on line 60. 83 Add column E amounts; combine this total with line 81, and enter on line 40.





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CT-32 (2008)

Schedule G -- Computation of IBF adjusted eligible net income or loss
If the corporation has an IBF located in New York State, mark an X in the appropriate box below and see instructions. The corporation computed ENI using the: IBF modification method or IBF formula allocation method Computation of eligible gross income 84 Interest income from eligible loans ............................................................................................... 85 Interest income from eligible deposits .......................................................................................... 86 Income from foreign exchange trading and hedging transactions ................................................ 87 Fee income from eligible transactions .......................................................................................... 88 Eligible gross income (add lines 84 through 87) ............................................................................... Computation of applicable expenses 89 Direct expenses ............................................................................................................................ 90 Indirect expenses .......................................................................................................................... 91 Total applicable expenses (add lines 89 and 90) ............................................................................... Computation of ineligible funding amount 92 Eligible net income (subtract line 91 from line 88) ............................................................................... 93 Average aggregate liabilities and other sources of funds of the IBF that are not owed to or received from foreign persons............................................................................................... 94 Average aggregate liabilities and other sources of funds of the IBF ............................................. 95 Divide line 93 by line 94 .................................................................................................................. 96 Ineligible funding amount (multiply line 92 by line 95) ......................................................................... 97 Remaining amount (subtract line 96 from line 92; also enter on line 105) ............................................... Computation of floor amount and adjusted eligible net income or loss 98 Average aggregate amount of loans to and deposits with foreign persons in financial accounts within New York State for tax years 1975, 1976, and 1977 ....................................................... 99 Statutory percentage for the current tax year ............................................................................... 100 Multiply line 98 by line 99................................................................................................................ 101 Average aggregate amount of loans to and deposits with foreign persons in financial accounts within New York State (other than IBF) for the current tax year................................................. 102 Balance (subtract line 101 from line 100) ............................................................................................ 103 Average aggregate amount of loans to and deposits with foreign persons in financial accounts of the IBF for the current tax year .............................................................................. 104 Enter 100 or the percentage obtained by dividing line 102 by line 103, whichever is less ............. 105 Remaining amount (enter amount from line 97) ................................................................................ 106 Floor amount (multiply line 104 by line 105) ........................................................................................ 107 Adjusted eligible net income or loss (subtract line 106 from line 105; also enter on line 51) .....................

84. 85. 86. 87. 88.

89. 90. 91.

92. 93. 94. 95. 96. 97.

%

98. 99. 100. 101. 102. 103. 104. 105. 106. 107.

%

%

42006080094

CT-32 (2008) Page 7 of 10

Schedule H -- Allocation percentages
Are you a banking corporation described in Tax Law section 1452(a)(9)? ............................................................ Yes Are you substantially engaged in providing management, administrative, or distribution services to an investment company as such terms are defined in Tax Law section 1454(a)(2)(G)?......................................... Yes If you answered Yes to both questions, then you must allocate using the receipts factor (see page 13 of the instructions). Part 1 -- Computation of ENI allocation If the corporation has an IBF located in New York State, mark an X in the appropriate box below and see instructions. The corporation computed ENI using the: IBF modification method or IBF formula allocation method If you are claiming an allocation outside New York, attach an explanation of the business carried on outside New York that gives you the right to allocate. 108 Wages, salaries, and other compensation of employees (except general executive officers)............................................................... 109 Multiply line 108, column A, by 80% (.8)............................................ 110 Percentage in New York (divide line 109, column A, by line 108, column B) Receipts during the tax period from: 111 Interest income from loans and financing leases............................... 112 Other income from loans and financing leases.................................. 113 Lease transactions and rents............................................................. 114 Interest from bank, credit, travel, entertainment, and other credit card receivables ............................................................................ 115 Service charges and fees from bank, credit, travel, entertainment, and other credit cards .................................................................... 116 Receipts from merchant discounts .................................................... 117 Income from trading activities and investment activities .................... 118 Fees or charges from letters of credit, traveler's checks, and money orders ................................................................................. 119 Performance of services .................................................................... 120 Royalties ............................................................................................ 121 All other business receipts ................................................................. 122 Total (add lines 111 through 121) ........................................................... 123 Percentage in New York (see instructions) ............................................ 124 Additional receipts factor (enter percentage from line 123) ..................... Deposits maintained in branches 125 Deposits of $100,000 or more ........................................................... 126 Deposits of less than $100,000 ......................................................... 127 Add lines 125 and 126 ....................................................................... 128 Percentage in New York (divide line 127, column A, by line 127, column B) ... 129 Additional deposits factor (enter percentage from line 128) ..................... 130 Total of New York percentages (add lines 110, 123, 124, 128, and 129) ... 131 ENI allocation percentage (see instructions) ......................................... Part 2 -- Computation of alternative ENI allocation 132 Wages, salaries, and other compensation of employees (except general executive officers).............................................................. 133 Percentage in New York State (divide line 132, column A, by line 132, column B) 134 Receipts factor (enter percentage from line 123) ...................................... 135 Deposits factor (enter percentage from line 128) ...................................... 136 Add lines 133, 134, and 135 ............................................................... 137 Alternative ENI allocation percentage (see instructions) ........................ 108. 109. 110. 111. 112. 113. 114. 115. 116. 117. 118. 119. 120. 121. 122. 123. 124. 125. 126. 127. 128. 129. 130. 131. A New York State B Everywhere No No

%

% %

% % % %

132. 133. 134. 135. 136. 137.

% % % % %

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CT-32 (2008)

Part 3 -- Computation of taxable assets allocation (see instructions) Include all activities of an IBF in both the numerator (column A) and denominator (column B) when computing the taxable asset allocation 138 Wages, salaries, and other compensation of employees (except general executive officers)............................................................... 138. 139 Multiply line 138, column A, by 80% (.8)............................................ 139. 140 Percentage in New York (divide line 139, column A, by line 138, column B) ... 140. Receipts during the tax period from: 141 Interest income from loans and financing leases............................... 141. 142 Other income from loans and financing leases.................................. 142. 143 Lease transactions and rents............................................................. 143. 144 Interest from bank, credit, travel, entertainment, and other credit card receivables ............................................................................. 144. 145 Service charges and fees from bank, credit, travel, entertainment, and other credit cards .................................................................... 145. 146 Receipts from merchant discounts .................................................... 146. 147 Income from trading activities and investment activities .................... 147. 148 Fees or charges from letters of credit, traveler's checks, and money orders .... 148. 149 Performance of services .................................................................... 149. 150 Royalties ............................................................................................ 150. 151 All other business receipts ................................................................. 151. 152 Total (add lines 141 through 151) ........................................................... 152. 153 Percentage in New York (see instructions) ............................................ 153. 154 Additional receipts factor (enter percentage from line 153) ........................ 154. Deposits maintained in branches 155 Deposits of $100,000 or more ........................................................... 155. 156 Deposits of less than $100,000 ......................................................... 156. 157 Add lines 155 and 156 ....................................................................... 157. 158 Percentage in New York (divide line 157, column A, by line 157, column B) ... 158. 159 Additional deposits factor (enter percentage from line 158) ..................... 159. 160 Total of New York percentages (add lines 140, 153, 154, 158, and 159) ... 160. 161 Taxable assets allocation percentage (see instructions) ....................... 161. Composition of prepayments on Schedule A, line 10 (see instructions) 162 163a 163b 163c 164 165 166 167 Date paid Mandatory first installment .................................................................................. 162. Second installment from Form CT-400 ............................................................... 163a. Third installment from Form CT-400 ................................................................... 163b. Fourth installment from Form CT-400 ................................................................. 163c. Payment with extension request from Form CT-5, line 5 .................................... 164. Overpayment credited from prior years (see instructions) ................................................................. 165. Overpayment credited from Form CT-32-M .................................................................................... 166. Total prepayments (add lines 162 through 166; enter here and on line 10) ............................................. 167. Amount A New York State B Everywhere

%

% %

% % % %

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CT-32 (2008) Page 9 of 10

Computation of the issuer's allocation percentage -- Complete Method 1, 2, or 3 (see instructions) Method 1 -- Enter the alternative ENI allocation percentage from line 137 (enter here and on line 21) .............................................................................................. Method 2 -- A New York State gross income .................................................... $ B Worldwide gross income............................................................ $ Divide line A by line B (enter here and on line 21) ................................................................................................
Method 3 -- Computation of subsidiary capital allocated to New York State -- Attach separate sheets displaying this information formatted as below, if necessary.
A -- Description of subsidiary capital (list the name of each corporation and the EIN here; for each corporation, complete columns B through G on the corresponding lines below) Item A B C D E F G Name EIN

%

%

Item

A

Voting stock owned %

B

Average value of subsidiary capital

C

Current liabilities attributable to subsidiary capital

D

Net average value (col. C ­ col. D)

E

Issuer's allocation %

F

Value allocated to New York State (col. E × col. F)

G

A B C D E F G

Amounts from attached list 168 Totals.......................................................................................... 168. Method 3 -- Computation of business capital allocated to New York State 169 Average value of total assets from line 70 ...................................................................................... 170 Current liabilities .......................................................................... 170. 171 Total net average value of subsidiary capital from line 168, column E 171. 172 Net business assets (subtract lines 170 and 171 from line 169) ........................................................... 173 Enter the alternative ENI allocation percentage from line 137........................................................ 174 Business assets allocated to New York State (multiply line 172 by line 173) ...................................... Method 3 -- Computation of issuer's allocation percentage 175 Subsidiary capital and business capital allocated to New York State (add line 168, column G and line 174) 176 Total worldwide capital (see instructions) .......................................................................................... 177 Issuer's allocation percentage (divide line 175 by line 176; enter here and on line 21) .........................

169.

172. 173. 174. 175. 176. 177.

%

%

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CT-32 (2008)

Summary of tax credits claimed on line 6 against current year's franchise tax (attach applicable forms; see instructions for line 6)
Form CT-41 ... Form CT-43 ... Form CT-44 ... Form CT-249 Form CT-250 Form CT-259 Form CT-601 Form CT-601.1 Form CT-602 ... Form CT-604 ... Form CT-606 ... Form CT-611 ... Form CT-612 ... Form CT-613 ... Form CT-631 ..... Form DTF-624 Form DTF-630 Credit for servicing mortgages
(attach statement)

Other credits .....

178 Total of credits listed above (enter here and on line 6 indicating a negative total with a minus (-) sign; attach appropriate form or statement for each credit claimed) ............................................................ 179 Total tax credits claimed on line 178 that are refund eligible (see instructions) ..................................

178. 179.

Designee's name (print) Third ­ party Yes No designee Designee's e-mail address (see instructions)

Designee's phone number ( )

PIN
Official title Date ID number Address City State Date ZIP code

Certification: I certify that this return and any attachments are to the best of my knowledge and belief true, correct, and complete. Authorized person Paid preparer use only
Signature of authorized person E-mail address of authorized person

Firm's name (or yours if self-employed) Signature of individual preparing this return E-mail address of individual preparing this return

See instructions for where to file.

42010080094