2023 New York Laws › TAX - Tax › Article 24-A - Pass-Through Entity Tax › 865 - Filing of Return and Payment of Tax.

§  865. Filing of return and payment of tax. (a) General. On or before
March fifteenth following the close of the taxable year,  each  electing
partnership  and  each electing S corporation must file a return for the
taxable  year  reporting  the  information  required  pursuant  to  this
article.  For  each electing partnership and each electing S corporation
that has a fiscal taxable year, the return is due  on  or  before  March
fifteenth  following  the  close  of the calendar year that contains the
final day of the entity's taxable year.
(b) Certification of  eligibility.  Every  return  filed  pursuant  to
subsection  (a) of this section shall include, in a format as prescribed
by the commissioner, a certification by an individual authorized to  act
on behalf of the electing partnership or electing S corporation that the
taxpayer:
(1)  made  a  timely,  valid election to be subject to tax pursuant to
this article; and
(2) that all statements contained therein are true.
(c) Information on the  electing  partnership  return.  Each  electing
partnership shall report on such return:
(1) Any tax due pursuant to this article. The balance of any tax shown
on  such  return,  not previously paid as installments of estimated tax,
shall be paid with such return;
(2) Identifying information of all partners and/or members eligible to
receive a credit pursuant to section eight hundred sixty-three  of  this
article;
(3)  Each  partner's  and/or member's share of the pass-through entity
tax imposed on the electing partnership;
(4)  Each  partner's  and/or  member's  distributive  share   of   the
pass-through  entity taxable income calculated pursuant to paragraph one
of subsection (h) of section eight hundred sixty of this article;
(5) The classification of each partner and/or member as a resident  or
nonresident  for  purposes  of  calculating  the  electing partnership's
pass-through entity taxable income under paragraph one of subsection (h)
of section eight hundred sixty of this article; and
(6) Any other information as required by the commissioner.
(d) Information on electing S  corporation  return.  Each  electing  S
corporation shall report on such return:
(1) Any tax due pursuant to this article. The balance of any tax shown
on  such  return,  not previously paid as installments of estimated tax,
shall be paid with such return;
(2) Identifying information of all shareholders eligible to receive  a
credit pursuant to section eight hundred sixty-three of this article;
(3)  Each  shareholder's  direct  share of the pass-through entity tax
imposed on the electing S corporation; and
(4) Any other information as required by the commissioner.
(e) Special rules for partners,  members  and  shareholders  that  are
disregarded  entities.  To  meet  the  requirements  of paragraph two of
subsection (c) of this section for an electing partnership or  paragraph
two of subsection (d) of this section for an electing S corporation, the
electing  partnership or electing S corporation must provide information
sufficient to identify both the disregarded entity that  is  a  partner,
member  and/or shareholder and the taxpayer subject to tax under article
twenty-two of this chapter eligible for a credit under subsection (a) of
section eight hundred sixty-three of this article.
(f) Extensions and  amendments.  (1)  The  commissioner  may  grant  a
reasonable extension of time for payment of tax or estimated tax (or any
installment),  or  for  filing  any return, statement, or other document
required pursuant to this article, on such terms and  conditions  as  it

may require. No such extension for filing any return, statement or other
document, shall exceed six months.
(2)  No  amended  returns. Once a return has been filed by an electing
partnership or electing S corporation, it may not be amended without the
consent of or otherwise authorized by the commissioner.
(g)  Information  provided  to  partners.  Each  electing  partnership
subject to tax under this article shall report to each partner or member
its:
(1)  classification  as  a  resident  or  nonresident  for purposes of
calculating the  electing  partnership's  or  electing  S  corporation's
pass-through entity taxable income under subsection (g) of section eight
hundred sixty of this article;
(2)  direct  share  of  the  pass-through  entity  tax  imposed on the
electing partnership; and
(3) any other information as required by the commissioner.
(h) Information provided to shareholders. Each electing S  corporation
subject to tax under this article shall report to each shareholder its:
(1)  direct  share  of  the  pass-through  entity  tax  imposed on the
electing S corporation;
(2) the electing S corporation's status  as  an  electing  resident  S
corporation or electing standard S corporation; and
(3) any other information as required by the commissioner.