This is the official New York State Tax Department 2024 Form CT3I, Instructions for Form CT3. A new corporate tax applies to corporations and banks, other than federal S-corporations, that do business in New York City.The general corporation tax (GCT) only applies to subchapter S corporations and qualified subchapter S subsidiaries under the US Internal Revenue Code. A business usually has many assets. Minimize applicable transaction taxes i.e. The word "property" as used herein shall mean and include everything, whether tangible or intangible, subject to ownership. 1.2 Definition of Personal Property. Discounted rates apply to groups of 10 or more visitors, age 3 and over.