Corporations file Schedule M-3 (Form 1120) to answer questions about their financial statements and reconcile financial statement net income (loss) You may have to file an annual New York State corporation tax return to pay a franchise tax under the New York State Tax Law.Find out what takes place in the formation of a corporation and the resulting tax responsibilities and required forms. 2022 Business Corporation Tax Forms. Documents on this page are provided in pdf format. This site provides efile information for corporations that prepare and transmit their own electronic corporate income tax returns.