reglab/statecodes huggingface dataset:
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 6 - REPORTS › Subpart 6-2 - COMBINED REPORTS › Section 6-2.8 - Other Rules

Current through Register Vol. 46, No. 28, July 10, 2024
(Tax Law, section 210-C)
(a) For rules regarding when REITS or RICS
					 should be included in a combined report, see Subpart 9-4 of this
					 Subchapter.
(b) A combinable
					 captive insurance company, as defined in section 2(11), is required to be
					 included in a combined report if more than 50% of the voting power of its
					 capital stock is owned or controlled directly or indirectly by a corporation
					 subject to tax under article 9-A or a corporation required to be included in a
					 combined report under article 9-A.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 6 - REPORTS › Subpart 6-3 - FORM OF REPORTS › Section 6-3.1 - Form of reports

Current through Register Vol. 46, No. 28, July 10, 2024
(Tax Law, sections 211(1), (2), (2-a) and (3),
						1085(n))
(a) Reports are required to
					 be filed on the forms and in the manner prescribed by the commissioner. The
					 forms and instructions are available from the department and may be downloaded
					 from the departmenT's website.
(b)
					 A change in Federal taxable income must be reported on an amended New York
					 State report and must be accompanied by a copy of the Federal amended return or
					 the Federal revenue agent's report, and copies of all other related
					 information.
(c) Every taxpayer
					 must submit such other reports and other information that the commissioner may
					 require in the administration of article 9-A.
(d) Every report must include a certification
					 that the statements in the report are true. The certification must be made by
					 the president, vice-president, treasurer, assistant treasurer, chief accounting
					 officer or any other officer of the taxpayer authorized to act in that
					 capacity. The fact that an individual's name is signed on the certification of
					 the report is prima facie evidence that the individual is authorized to sign
					 and to certify the report on behalf of the corporation.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 6 - REPORTS › Subpart 6-3 - FORM OF REPORTS › Section 6-3.2 - Form of reports on combined basis

Current through Register Vol. 46, No. 28, July 10, 2024
(Tax Law, section 211(1))
(a) In all cases where a combined report is
					 required or permitted, a combined franchise tax report must be submitted by the
					 designated agent responsible for paying the combined tax. In addition, each
					 member of the combined group must submit such other reports and other
					 information that the commissioner may require.
(b) It is not necessary that all corporations
					 in the combined group have the same accounting period. (See Subpart 2-1 of this
					 Subchapter for information relating to accounting periods.) Where a
					 corporation's taxable year is different from that of the designated agent, the
					 applicable taxable year of such corporation to be included in the combined
					 group is the taxable year that ends within the taxable year of the designated
					 agent. Only amounts from the months included in the combined report are used in
					 the computation of tax for the period. The commissioner may permit or require a
					 corporation to use a different accounting period where appropriate.
(c) Each member of a combined group,
					 including non-taxpayer members, annually must file an information return with
					 the department. This required form includes a detailed schedule of information
					 needed to compute the combined group's tax and the fixed dollar minimum base of
					 each taxpayer member, including but not limited to the member's business and
					 investment capital and business apportionment items. This required form also
					 must include the employer identification number (EIN) of the designated
					 agent.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 6 - REPORTS › Subpart 6-4 - TIME AND PLACE FOR FILING REPORTS › Section 6-4.2 - Time for filing reports of corporations ceasing to exercise franchise or be subject to tax

Current through Register Vol. 46, No. 28, July 10, 2024
(Tax Law, section 211(1))
(a) A domestic corporation that ceases to
					 exercise its franchise is required to file a report on the date of cessation or
					 at such other times as the commissioner may require covering each year or
					 period for which no report was filed. The report is required in any such case
					 whether the corporation continues in existence and remains subject to article
					 9-A or is dissolved and ceases to be subject to tax.
(b) A foreign corporation that ceases to do
					 business in New York State or to employ capital, or to own or lease property in
					 this State in a corporate or organized capacity, or to maintain an office in
					 this State, or to derive receipts from activity in this State and, thus, ceases
					 to be subject to tax under article 9-A, or any corporation that ceases to be
					 subject to tax under article 9-A because of a change of classification, is
					 required to file a report on the date of cessation, or date of change of
					 classification, or at such other time as the commissioner may require, covering
					 each year or period for which no report was filed.
(c) If a corporation that is taxed on the
					 basis of a combined report ceases to be subject to tax under article 9-A but
					 continues to be included in the next combined report, it need not file a
					 separate report at the time of cessation.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 6 - REPORTS › Subpart 6-4 - TIME AND PLACE FOR FILING REPORTS › Section 6-4.4 - Place for filing reports

Current through Register Vol. 46, No. 28, July 10, 2024
Reports must be filed electronically or mailed to the
						address provided in the most recent report instructions or on the New York
						State Department of Taxation and Finance website. Every corporation must file
						electronically if it:
(1) prepares tax
					 documents without the assistance of a tax professional;
(2) uses approved e-file tax software or a
					 computer to prepare, document, or calculate its report, extension, mandatory
					 first installment or estimated tax payment; and
(3) has broadband internet access.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 6 - REPORTS › Subpart 6-4 - TIME AND PLACE FOR FILING REPORTS › Section 6-4.5

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 6 - REPORTS › Subpart 6-4 - TIME AND PLACE FOR FILING REPORTS › Section 6-4.6

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 6 - REPORTS › Subpart 6-4 - TIME AND PLACE FOR FILING REPORTS › Section 6-4.7

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 7 - PAYMENT OF TAX, DECLARATION AND PAYMENT OF ESTIMATED TAX, AND COLLECTION › Subpart 7-1 - PAYMENT OF TAX › Section 7-1.1 - Time for payment of tax

Current through Register Vol. 46, No. 28, July 10, 2024
(Tax Law, sections 213(1) and (3), 1091)
(a) The tax imposed by article 9-A is payable
					 to the department in full at the time the report is required to be filed. The
					 time when the payment is required to be made is determined without regard to
					 any extension of time for filing such report.
(b) The Commissioner may grant a reasonable
					 extension of time for payment of the tax upon receipt of a written request from
					 the taxpayer giving complete information as to the reasons for its inability to
					 make payment of the tax on or before the prescribed due date. Interest must be
					 paid on any balance due from the original due date of the report, without
					 regard to any extension, to the date of payment.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 7 - PAYMENT OF TAX, DECLARATION AND PAYMENT OF ESTIMATED TAX, AND COLLECTION › Subpart 7-1 - PAYMENT OF TAX › Section 7-1.2 - Properly estimated tax

Current through Register Vol. 46, No. 28, July 10, 2024
(Tax Law, section 213(2))
(a) A taxpayer applying for an automatic
					 six-month extension for filing its tax report must pay, on or before the date t
					 h a t its report is required to be filed, without regard to any extension of
					 time, its properly estimated tax. The estimated tax paid, or balance thereof,
					 will be deemed properly estimated if the tax paid is either:
(1) not less than 90% of the tax as finally
					 determined; or
(2) not less than
					 the tax shown on the taxpayer's report for the immediately preceding taxable
					 year, if such preceding year was a taxable year of 12 months.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 7 - PAYMENT OF TAX, DECLARATION AND PAYMENT OF ESTIMATED TAX, AND COLLECTION › Subpart 7-1 - PAYMENT OF TAX › Section 7-1.3 - Cessation tax

Current through Register Vol. 46, No. 28, July 10, 2024
(Tax Law, section 213(1))
Any taxpayer that ceases to exercise its franchise or to
						be subject to the tax imposed by article 9-A must pay the tax, or balance
						thereof, at the time the report is required to be filed; see section
						6-4.2  of this Subchapter.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 7 - PAYMENT OF TAX, DECLARATION AND PAYMENT OF ESTIMATED TAX, AND COLLECTION › Subpart 7-1 - PAYMENT OF TAX › Section 7-1.4

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 7 - PAYMENT OF TAX, DECLARATION AND PAYMENT OF ESTIMATED TAX, AND COLLECTION › Subpart 7-2 - DECLARATION OF ESTIMATED TAX › Section 7-2.1 - Requirement of declaration

Current through Register Vol. 46, No. 28, July 10, 2024
(Tax Law, section 213-a(a))
(a) Every taxpayer subject to the tax imposed
					 by article 9-A must make a declaration of its estimated tax for the current
					 taxable year if such estimated tax can reasonably be expected to exceed $1,000
					 for the taxable year.
(b) The
					 declaration required by this section must cover a calendar-year accounting
					 period if the taxpayer files its report on the basis of a calendar year, or a
					 full fiscal year if the taxpayer files its report on the basis of a fiscal
					 year, unless a declaration for a short period is required. No declaration may
					 be made for a period of more than 12 months.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 7 - PAYMENT OF TAX, DECLARATION AND PAYMENT OF ESTIMATED TAX, AND COLLECTION › Subpart 7-2 - DECLARATION OF ESTIMATED TAX › Section 7-2.2 - Amendments of declaration

Current through Register Vol. 46, No. 28, July 10, 2024
(Tax Law, section 213-a(d))
In making a declaration of estimated tax, the taxpayer is
						required to take into account the facts and circumstances existing at the time,
						as well as those reasonably to be anticipated, that relate to the prospective
						article 9-A tax. Amended or revised declarations may be made if the taxpayer
						finds that its estimated tax differs from the estimated tax reflected in its
						most recent declarations of estimated tax. However, an amended declaration may
						only be made on an installment date (see section
						7-3.4  of this Part Other
						installments of estimated tax) and no further amendment may be made until a
						succeeding installment date. The amended declaration must be made on form
						CT-400 and marked "AMENDED". No refund will be issued as a result of the filing
						of an amended declaration. Consideration will be given to a refund only in
						connection with a completed report filed by a taxpayer for the taxable year
						covered by its declaration (and amended declaration).
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 7 - PAYMENT OF TAX, DECLARATION AND PAYMENT OF ESTIMATED TAX, AND COLLECTION › Subpart 7-2 - DECLARATION OF ESTIMATED TAX › Section 7-2.3 - Report as declaration or amendment

Current through Register Vol. 46, No. 28, July 10, 2024
(Tax Law, section 213-a(e) and (f))
(a) If the taxpayer files its report for the
					 calendar year on or before February 15th of the succeeding calendar year (or if
					 the taxpayer files on a fiscal-year basis, on or before the 15th day of the
					 second month succeeding the taxable year) and pays together with such report
					 the balance, if any, of the full amount of the tax shown to be due on the
					 report:
(1) Such report will be considered to
					 be its declaration if no declaration was required to be filed on or before the
					 15th day of the ninth month of the calendar year or fiscal year for which the
					 tax was imposed, but a declaration was required to be filed on or before the
					 15th day of the twelfth month of the calendar year or fiscal year.
(2) Such report will be considered as the
					 amendment permitted by section
					 7-2.2  of this Subpart to be filed
					 on or before the 15th day of the twelfth month of the calendar year or fiscal
					 year if the tax shown on the report is greater than the estimate shown on the
					 declaration previously made.
(3)
					 Examples.
Example 1: A taxpayer that reports on the basis of a
						calendar year first meets the requirement for making a declaration of estimated
						tax on September 7, 2021. The taxpayer may satisfy the requirements for making
						a declaration of estimated tax by making and filing its report for the 2021
						taxable year on or before February 15, 2022, and paying, at the time of filing,
						the balance, if any, of the full amount of tax shown to be payable. The report
						will be treated as the declaration required to be filed on or before December
						15, 2021.
Example 2: The taxpayer makes and files, on or before
						September 15, 2021, a timely declaration of estimated tax for such year, and,
						on or before February 15, 2022, files its 2021 tax report and pays the balance,
						if any, of the full amount of tax shown to be payable. If the taxpayer's report
						shows the tax to be greater than the estimated tax shown on the declaration,
						the report will be treated as the amended declaration permitted to be filed on
						or before December 15, 2021.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 7 - PAYMENT OF TAX, DECLARATION AND PAYMENT OF ESTIMATED TAX, AND COLLECTION › Subpart 7-2 - DECLARATION OF ESTIMATED TAX › Section 7-2.4 - Short periods

Current through Register Vol. 46, No. 28, July 10, 2024
(Tax Law, section 213-a(g))
If a taxpayer is required to make a declaration of
						estimated tax pursuant to section
						7-2.1  of this Subpart and a short
						taxable year is involved, a declaration for the fractional part of the year is
						required. No declaration is required if the short taxable year is a period of
						five months or less.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 7 - PAYMENT OF TAX, DECLARATION AND PAYMENT OF ESTIMATED TAX, AND COLLECTION › Subpart 7-2 - DECLARATION OF ESTIMATED TAX › Section 7-2.5 - Time for filing declaration of estimated tax for short taxable year

Current through Register Vol. 46, No. 28, July 10, 2024
(Tax Law, section 213-a(g))
In the case of a short taxable year of more than five
						months, the declaration of estimated tax must be filed in accordance with the
						following schedule:
(a) If at any time
					 before the first day of the sixth month of the current taxable year the
					 taxpayer's estimated tax can reasonably be expected to exceed $1,000 for such
					 taxable year, then the declaration must be filed on or before the 15th day of
					 the sixth month of the current taxable year.
(b) If no declaration is required to be filed
					 pursuant to subdivision (a) of this section, and at any time after the last day
					 of the fifth month of the current taxable year, but before the first day of the
					 ninth month of the current taxable year, the taxpayer's estimated tax can
					 reasonably be expected to exceed $1,000 for such taxable year, then the
					 declaration must be filed on or before the 15th day of the ninth month or the
					 15th day of the last month of the current taxable year, whichever comes
					 first.
(c) If no declaration is
					 required to be filed pursuant to subdivision (a) or (b) of this section, and at
					 any time after the last day of the eighth month of the current taxable year the
					 taxpayer's estimated tax can reasonably be expected to exceed $1,000 for such
					 taxable year, the declaration must be filed on or before the 15th day of the
					 last month of the current taxable year.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 7 - PAYMENT OF TAX, DECLARATION AND PAYMENT OF ESTIMATED TAX, AND COLLECTION › Subpart 7-2 - DECLARATION OF ESTIMATED TAX › Section 7-2.6 - Extension of time for filing declaration of estimated tax

Current through Register Vol. 46, No. 28, July 10, 2024
(Tax Law, section 213-a(h))
The Commissioner may grant a reasonable extension of
						time, not to exceed three months, for the filing of any declaration of
						estimated tax upon receipt of a written request from the taxpayer giving
						complete information as to the reasons for its inability to file the
						declaration on or before the prescribed due date.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 7 - PAYMENT OF TAX, DECLARATION AND PAYMENT OF ESTIMATED TAX, AND COLLECTION › Subpart 7-2 - DECLARATION OF ESTIMATED TAX › Section 7-2.7

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 7 - PAYMENT OF TAX, DECLARATION AND PAYMENT OF ESTIMATED TAX, AND COLLECTION › Subpart 7-2 - DECLARATION OF ESTIMATED TAX › Section 7-2.8

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 7 - PAYMENT OF TAX, DECLARATION AND PAYMENT OF ESTIMATED TAX, AND COLLECTION › Subpart 7-3 - PAYMENTS OF ESTIMATED TAX › Section 7-3.1 - General

Current through Register Vol. 46, No. 28, July 10, 2024
The amount of estimated tax due as shown on a declaration
						of estimated tax may be paid in installments or, at the election of the
						taxpayer, may be paid in full at the time of filing the declaration. If the
						estimated tax is paid in installments, one installment, following any mandatory
						first installment paid must accompany the declaration.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 7 - PAYMENT OF TAX, DECLARATION AND PAYMENT OF ESTIMATED TAX, AND COLLECTION › Subpart 7-3 - PAYMENTS OF ESTIMATED TAX › Section 7-3.2 - Definitions

Current through Register Vol. 46, No. 28, July 10, 2024
(Tax Law, section 213-b(f))
(a) The term "preceding year's tax" as used
					 in this Subpart means the tax imposed by article 9-A for the immediately
					 preceding calendar or fiscal year. It also means, for purposes of computing the
					 first installment of estimated tax when an application has been filed for
					 extension of the time for filing the report required to be filed for the
					 immediately preceding calendar or fiscal year, the amount properly estimated as
					 the tax imposed upon the taxpayer for such preceding calendar or fiscal
					 year.
(b) The term 'second
					 preceding year's tax" as used in this Subpart means the tax imposed by article
					 9-A for the calendar or fiscal year preceding the calendar or fiscal year
					 described in the first sentence of subdivision (a) of this section.
(c) For purposes of determining the calendar
					 or fiscal year used pursuant to subdivisions (a) and (b) of this section, short
					 taxable years will be considered.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 7 - PAYMENT OF TAX, DECLARATION AND PAYMENT OF ESTIMATED TAX, AND COLLECTION › Subpart 7-3 - PAYMENTS OF ESTIMATED TAX › Section 7-3.3 - First installment of estimated tax for certain taxpayers

Current through Register Vol. 46, No. 28, July 10, 2024
(Tax Law, section 213-b(a))
(a) New York S Corporations. Every New York S
					 corporation subject to the tax imposed by article 9-A must pay with its report
					 required for the immediately preceding taxable year, or with an application for
					 extension of the time for filing such report, a mandatory first installment of
					 estimated tax equal to:
(1) 25% of such
					 preceding year's tax, if such tax exceeded $1,000 but was equal to or less than
					 $100,000; or
(2) 40% of such
					 preceding year's tax, if such tax exceeded $100,000.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 7 - PAYMENT OF TAX, DECLARATION AND PAYMENT OF ESTIMATED TAX, AND COLLECTION › Subpart 7-3 - PAYMENTS OF ESTIMATED TAX › Section 7-3.4 - Other installments of estimated tax

Current through Register Vol. 46, No. 28, July 10, 2024
(Tax Law, section 213-b(b) and (h))
(a) In the case of a declaration of estimated
					 tax for a 12-month taxable year, the other dates for filing the declaration and
					 for installment payments are:
Dates for filing the declaration
Dates for installment payments
(1) On or before the 15th day of the sixth
									 month:
The estimated tax must be paid in three equal
									 installments (after deducting the amount of mandatory first installment paid,
									 if any). One payment must be made at the time of filing the declaration, one on
									 or before the 15th day of the ninth month and one on or before the 15th day of
									 the twelfth month of the current taxable year.
(2) On or before the 15th day of the ninth
									 month:
The estimated tax must be paid in two equal
									 installments (after deducting the amount of mandatory first installment paid,
									 if any). One payment must be made at the time of filing the declaration and one
									 on or before the 15th day of the twelfth month of the current taxable
									 year.
(3) On or before the 15th day of the twelfth
									 month of the current taxable year:
The estimated tax must be paid in full at the
									 time of filing the declaration (after deducting the amount of mandatory first
									 installment paid, if any).
(b) If a declaration is filed after the time
					 prescribed in section 213-a, or after the expiration of any extension of time,
					 then the provisions of paragraphs (1)-(3) of subdivision (a) of this section do
					 not apply, and the taxpayer must pay at the time of filing the declaration all
					 installments of estimated tax that would have been payable at or before such
					 time if the declaration had been filed at the time prescribed in section 213-a.
					 The remaining installments must be paid at the time and in the amounts that
					 they would have been payable if the declaration had been filed at the time
					 prescribed in section 213-a
(c)
					 Example.
Corporation X, a New York C corporation, was required to
						file a declaration of estimated tax on or before June 15, 2022, but filed its
						declaration for calendar year 2022 on November 18, 2022. At the time of filing
						its declaration, Corporation X had failed to pay two installments of its
						estimated tax for the 2022 taxable year (i.e., the installments due on June 15,
						2022, and September 15, 2022). Upon filing the declaration on November 18,
						2022, it must pay the two installments of estimated tax that it previously
						failed to pay.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 7 - PAYMENT OF TAX, DECLARATION AND PAYMENT OF ESTIMATED TAX, AND COLLECTION › Subpart 7-3 - PAYMENTS OF ESTIMATED TAX › Section 7-3.5 - Impact of amendments of declaration on estimated payments

Current through Register Vol. 46, No. 28, July 10, 2024
(Tax Law, section 213-b(c) and (h))
If any amendment of a declaration is filed, the remaining
						installments, if any, must be ratably increased or decreased (as the case may
						be) to reflect any increase or decrease in the estimated tax by reason of such
						amendment. If an amendment is made after the 15th day of the ninth month of the
						current taxable year, any increase in the estimated tax must be paid at the
						time of making such amendment.
(a)
					 Example.
On June 15, 2022, Corporation Y files a declaration of
						estimated tax of $14,000 for the 2022 taxable year. Corporation Y has already
						paid a mandatory first installment of $2,000 on March 15, 2022, and divides the
						$12,000 of remaining estimated tax by three to compute the $4,000 installment
						amount to be paid on June 15, on September 15, and on December 15. Corporation
						Y paid the required $4,000 installment on June 15, 2022. On September 15, 2022,
						it files an amended declaration showing an estimated tax of $20,000 for the
						2022 taxable year. The balance of $14,000 ($20,000 minus $2,000 mandatory first
						installment and $4,000 June estimated payment) must be paid in two remaining
						installments: $7,000 on September 15, 2022, and $7,000 on December 15,
						2022.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 7 - PAYMENT OF TAX, DECLARATION AND PAYMENT OF ESTIMATED TAX, AND COLLECTION › Subpart 7-3 - PAYMENTS OF ESTIMATED TAX › Section 7-3.6 - Application of installments based on preceding and second preceding year's tax

Current through Register Vol. 46, No. 28, July 10, 2024
(Tax Law, section 213-b(a) and (d))
Any amount of mandatory first installment paid must first
						be applied as payment of the first installment against the estimated tax for
						the current taxable year shown on the declaration required to be filed, and any
						amount remaining must be considered as a payment on account of the tax shown on
						the report required to be filed by the taxpayer for the current taxable year.
						If no declaration of estimated tax is required to be filed by the taxpayer, any
						amount of mandatory first installment paid will be considered as a payment on
						account of the tax shown on the report required to be filed by the taxpayer for
						the current taxable year.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 7 - PAYMENT OF TAX, DECLARATION AND PAYMENT OF ESTIMATED TAX, AND COLLECTION › Subpart 7-3 - PAYMENTS OF ESTIMATED TAX › Section 7-3.7 - Short taxable years

Current through Register Vol. 46, No. 28, July 10, 2024
(Tax Law, section 213-b(g))
In the case of a short taxable year of a taxpayer for
						which a declaration of estimated tax is required to be made and filed, the
						estimated tax, after deducting the amount, if any, paid as a mandatory first
						installment for such period, must be paid in equal installments. One such
						installment must be paid at the time of filing the declaration, one on the 15th
						day of the ninth month of the current taxable year (unless the short taxable
						year closed prior to such ninth month, in which case the installment will be
						eliminated), and one on the 15th day of the last month of the current taxable
						year.
(a) Example.
Corporation A has a short taxable year of 10 months, from
						January 1, 2021, to October 31, 2021. If there is a reasonable expectation
						before June 1, 2021, that Corporation A's estimated tax will exceed $1,000 for
						such short taxable year, the declaration is required to be made and filed on or
						before June 15, 2021. The estimated tax (after deducting the amount of
						mandatory first installment paid, if any) is payable in three equal
						installments: one on the date of filing the declaration and one each on
						September 15, 2021, and October 15, 2021.
If, instead, there is a reasonable expectation on or
						after June 1, 2021, but before September 1, 2021, that Corporation A's
						estimated tax will exceed $1,000, the declaration is required to be made and
						filed on or before September 15, 2021. The estimated tax (after deducting the
						amount of mandatory first installment paid, if any) is payable in two equal
						installments: one on the date of filing the declaration and one on October 15,
						2021.
If there is a reasonable expectation on or after
						September 1, 2021, but not before such date, that Corporation A's estimated tax
						will exceed $1,000, the declaration is required to be made and filed on or
						before October 15, 2021. The estimated tax (after deducting the amount of
						mandatory first installment paid, if any) is payable in full on the date of
						filing the declaration.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 7 - PAYMENT OF TAX, DECLARATION AND PAYMENT OF ESTIMATED TAX, AND COLLECTION › Subpart 7-3 - PAYMENTS OF ESTIMATED TAX › Section 7-3.8 - Extension of time

Current through Register Vol. 46, No. 28, July 10, 2024
(Tax Law, section 213-b(i))
The commissioner may grant a reasonable extension of
						time, not to exceed six months, for payment of any installment of estimated tax
						upon receipt of a written request from the taxpayer giving complete information
						as to the reasons for its inability to pay the installment on or before the
						prescribed due date. As a condition for granting an extension of time, the
						commissioner may require the taxpayer to furnish a bond or other security in an
						amount not to exceed twice the amount of the installment. Interest must be paid
						from the original due date of the installment, without regard to any extension,
						to the date of payment.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 7 - PAYMENT OF TAX, DECLARATION AND PAYMENT OF ESTIMATED TAX, AND COLLECTION › Subpart 7-3 - PAYMENTS OF ESTIMATED TAX › Section 7-3.9 - Payments of installments in advance

Current through Register Vol. 46, No. 28, July 10, 2024
(Tax Law, section 213-b(j))
At the election of the taxpayer, any installment of the
						estimated tax may be paid prior to the date prescribed for its payment. No
						interest will be allowed or paid on such prepayment.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 7 - PAYMENT OF TAX, DECLARATION AND PAYMENT OF ESTIMATED TAX, AND COLLECTION › Subpart 7-3 - PAYMENTS OF ESTIMATED TAX › Section 7-3.10

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 7 - PAYMENT OF TAX, DECLARATION AND PAYMENT OF ESTIMATED TAX, AND COLLECTION › Subpart 7-4 - [Repealed] › Section 7-4.1

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 7 - PAYMENT OF TAX, DECLARATION AND PAYMENT OF ESTIMATED TAX, AND COLLECTION › Subpart 7-4 - [Repealed] › Section 7-4.2

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 7 - PAYMENT OF TAX, DECLARATION AND PAYMENT OF ESTIMATED TAX, AND COLLECTION › Subpart 7-4 - [Repealed] › Section 7-4.3

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 7 - PAYMENT OF TAX, DECLARATION AND PAYMENT OF ESTIMATED TAX, AND COLLECTION › Subpart 7-4 - [Repealed] › Section 7-4.4

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 7 - PAYMENT OF TAX, DECLARATION AND PAYMENT OF ESTIMATED TAX, AND COLLECTION › Subpart 7-4 - [Repealed] › Section 7-4.5 - Repealed

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 7 - PAYMENT OF TAX, DECLARATION AND PAYMENT OF ESTIMATED TAX, AND COLLECTION › Subpart 7-4 - [Repealed] › Section 7-4.6

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 7 - PAYMENT OF TAX, DECLARATION AND PAYMENT OF ESTIMATED TAX, AND COLLECTION › Subpart 7-4 - [Repealed] › Section 7-4.7

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 7 - PAYMENT OF TAX, DECLARATION AND PAYMENT OF ESTIMATED TAX, AND COLLECTION › Subpart 7-4 - [Repealed] › Section 7-4.8

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 8 - METROPOLITAN TRANSPORTATION BUSINESS TAX SURCHARGE › Subpart 8-1 - GENERAL › Section 8-1.1 - Definitions

Current through Register Vol. 46, No. 28, July 10, 2024
(Tax Law, section 209-B)
(a)
(1) The
					 term 'surcharge taxpayer" means every corporation other than a New York S
					 corporation that is exercising its corporate franchise or doing business,
					 employing capital, owning or leasing property in a corporate or organized
					 capacity, maintaining an office or deriving receipts from activity in the
					 Metropolitan Commuter Transportation District (MCTD).
(2) In the case of a combined group that has
					 at least one corporation included in the combined report that is itself
					 exercising its corporate franchise or doing business, employing capital, owning
					 or leasing property in a corporate or organized capacity, maintaining an office
					 or deriving receipts from activity in the MCTD, the term 'surcharge taxpayer"
					 means every such corporation.
(i) Where the
					 surcharge taxpayer is either permitted or required by a provision of this Part
					 to take some action, such action shall be taken by the combined group's
					 designated agent.
(ii) For purposes
					 of determining the MCTD apportionment percentage, the term 'surcharge taxpayer"
					 shall include each corporation properly includable in the combined
					 report.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 8 - METROPOLITAN TRANSPORTATION BUSINESS TAX SURCHARGE › Subpart 8-1 - GENERAL › Section 8-1.2 - Imposition of the tax surcharge

Current through Register Vol. 46, No. 28, July 10, 2024
(Tax Law, section 209-B)
(a) In addition to the tax imposed by section
					 209, a tax surcharge is imposed on every surcharge taxpayer for the privilege
					 of exercising its corporate franchise, or of doing business, or of employing
					 capital, or of owning or leasing property in a corporate or organized capacity,
					 or of maintaining an office, or of deriving receipts from activity in the
					 Metropolitan Commuter Transportation District (MCTD).
(b) The tax surcharge is imposed on the
					 surcharge base that is apportioned to the MCTD based on the surcharge
					 taxpayer's business activity carried on within the MCTD.
(c)
(1) To
					 compute the tax surcharge, the surcharge base is multiplied by the MCTD
					 apportionment percentage and the surcharge tax rate. (2) The surcharge tax rate
					 is:
(i) 25.6% for taxable years beginning on
					 or after January 1, 2015, and before January 1, 2016;
(ii) 28% for taxable years beginning on or
					 after January 1, 2016, and before January 1, 2017;
(iii) 28.3% for taxable years beginning on or
					 after January 1, 2017, and before January 1, 2018;
(iv) 28.6% for taxable years beginning on or
					 after January 1, 2018, and before January 1, 2019;
(v) 28.9% for taxable years beginning on or
					 after January 1, 2019, and before January 1, 2020;
(vi) 29.4% for taxable years beginning on or
					 after January 1, 2020, and before January 1, 2021;
(vii) 30% for taxable years beginning on or
					 after January 1, 2021, and before January 1, 2024;
(viii) The tax rate specified in section
					 209-B(1)(a) for taxable years beginning on or after January 1, 2024.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 8 - METROPOLITAN TRANSPORTATION BUSINESS TAX SURCHARGE › Subpart 8-1 - GENERAL › Section 8-1.3 - Applicability of rules on administration of tax

Current through Register Vol. 46, No. 28, July 10, 2024
(Tax Law, section 209-B)
All of the procedural provisions concerning the
						administration of the tax imposed by section 209, in law and in regulation,
						including the provisions of article 27 and the regulations promulgated
						thereunder, shall apply to the tax surcharge.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 8 - METROPOLITAN TRANSPORTATION BUSINESS TAX SURCHARGE › Subpart 8-2 - METROPOLITAN COMMUTER TRANSPORTATION DISTRICT (MCTD) APPORTIONMENT PERCENTAGE › Section 8-2.1 - Apportionment of surcharge base to the MCTD

Current through Register Vol. 46, No. 28, July 10, 2024
(Tax Law, section 209-B)
(a) A surcharge taxpayer must apportion its
					 surcharge base by multiplying such surcharge base by its MCTD apportionment
					 percentage. The surcharge taxpayer's MCTD apportionment percentage is computed
					 using a formula consisting of three factors, expressed as percentages. The
					 three factors are:
(1) real and tangible
					 personal property that is located within the MCTD and all such property that is
					 located in New York State, including real and tangible personal property that
					 is rented to the surcharge taxpayer;
(2) business receipts from within the MCTD
					 and all business receipts from New York State; and
(3) payroll within the MCTD and all payroll
					 from New York State.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 8 - METROPOLITAN TRANSPORTATION BUSINESS TAX SURCHARGE › Subpart 8-2 - METROPOLITAN COMMUTER TRANSPORTATION DISTRICT (MCTD) APPORTIONMENT PERCENTAGE › Section 8-2.2 - Discretionary adjustment to the MCTD apportionment percentage

Current through Register Vol. 46, No. 28, July 10, 2024
(a) In certain
					 circumstances, use of the rules and methods described in this Part to determine
					 the MCTD apportionment percentage may not properly reflect the surcharge
					 taxpayer's business income or business capital in the MCTD. Under such
					 circumstances, where it appears that the MCTD apportionment percentage does not
					 properly reflect the surcharge taxpayer's business income or business capital
					 within the MCTD, the commissioner, in an exercise of discretion, or at the
					 request of the surcharge taxpayer, and pursuant to the rules and standards set
					 forth in section
					 4-1.6  of this Subchapter, may
					 adjust the MCTD apportionment percentage or require that the surcharge taxpayer
					 use a different apportionment formula or a different apportionment method to
					 more accurately reflect the surcharge taxpayer's business activity carried on
					 within the MCTD.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 8 - METROPOLITAN TRANSPORTATION BUSINESS TAX SURCHARGE › Subpart 8-2 - METROPOLITAN COMMUTER TRANSPORTATION DISTRICT (MCTD) APPORTIONMENT PERCENTAGE › Section 8-2.3

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 8 - METROPOLITAN TRANSPORTATION BUSINESS TAX SURCHARGE › Subpart 8-2 - METROPOLITAN COMMUTER TRANSPORTATION DISTRICT (MCTD) APPORTIONMENT PERCENTAGE › Section 8-2.4

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 8 - METROPOLITAN TRANSPORTATION BUSINESS TAX SURCHARGE › Subpart 8-2 - METROPOLITAN COMMUTER TRANSPORTATION DISTRICT (MCTD) APPORTIONMENT PERCENTAGE › Section 8-2.5

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 8 - METROPOLITAN TRANSPORTATION BUSINESS TAX SURCHARGE › Subpart 8-2 - METROPOLITAN COMMUTER TRANSPORTATION DISTRICT (MCTD) APPORTIONMENT PERCENTAGE › Section 8-2.6

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 8 - METROPOLITAN TRANSPORTATION BUSINESS TAX SURCHARGE › Subpart 8-2 - METROPOLITAN COMMUTER TRANSPORTATION DISTRICT (MCTD) APPORTIONMENT PERCENTAGE › Section 8-2.7

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 8 - METROPOLITAN TRANSPORTATION BUSINESS TAX SURCHARGE › Subpart 8-2 - METROPOLITAN COMMUTER TRANSPORTATION DISTRICT (MCTD) APPORTIONMENT PERCENTAGE › Section 8-2.8

Current through Register Vol. 46, No. 28, July 10, 2024