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Nyc-400 2023

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36 views2 pages

Nyc-400 2023

Uploaded by

ruslan futkaradze
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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-400 ESTIMATED TAX BY BUSINESS CORPORATIONS 2023

*30312391* AND SUBCHAPTER S GENERAL CORPORATIONS


For CALENDAR YEAR 2023 or FISCAL YEAR beginning _______________, _______ and ending _______________, ________

Print or Type:

n
Name (If combined filer, give name of reporting corporation) See Instructions Name Taxpayer’s Email Address
Change

In Care of
EMPLOYER IDENTIFICATION NUMBER

Address (number and street)


n
Address
Change

City and State Zip Code Country (if not US)


BUSINESS CODE NUMBER AS PER FEDERAL RETURN

Business telephone number Person to contact

n Business C Corporations only n General-Subchapter S Corporations and Qualified Subchapter S Subsidiaries only
NYC-2 NYC-2S NYC-2A NYC-3L NYC-3A NYC-4S NYC-4SEZ

C O M P U TAT I O N O F E S T I M AT E D TA X
Payment Amount

A. Payment Amount included with form - Make payable to: NYC Department of Finance ......A.

1. Declaration of estimated tax for current year ........................................................................ 1.

2. Estimated Payment Amount ................................................................................................. 2.

MAILING MAIL FORM TO: Make remittance payable to the order of: To receive proper credit, you must
NYC DEPARTMENT OF FINANCE NYC DEPARTMENT OF FINANCE enter your correct Employer Identi-
INSTRUCTIONS:
P.O. BOX 3922 Payment must be made in U.S.dollars, fication Number on your declaration
NEW YORK, NY 10008-3922 drawn on a U.S. bank. and remittance.

KEEP A COPY OF THIS FORM FOR YOUR RECORDS. SEE INSTRUCTIONS ON PAGE 2.

ELECTRONIC FILING
Register for electronic filing. It is an easy, secure and convenient way to file a declaration and an extension and pay taxes on-line.
For more information log on to NYC.gov/eservices

30312391 NYC-400 2022


Form NYC-400 - 2023 - Instructions Page 2

WHO MUST FILE


Every corporation subject to the New York City General Corporation Tax or Business Corporation Tax (Title 11, Chapter 6, Subchapter 2
or Subchapter 3-A of the Administrative Code) must file a declaration (NYC-400) if its estimated tax for the current year can reasonably
be expected to exceed $1,000. The term “estimated tax” means the amount of tax the taxpayer estimates to be imposed by section 11-603
(GCT) or section 11-653 (Business Corporation Tax) of the Administrative Code less the sum of the credits estimated to be allowable
against the tax. For a group filing a combined return, this form should be filed by the group member filing the return and paying the tax.
In the case of a combined group subject to the Business Corporation Tax, the reporting corporation is the designated agent of the group, as
defined in Administrative Code §11-654.3(7).

NOTE: If the current year’s tax is reasonably estimated to exceed $1,000, an estimated payment is required even if this is the first year of busi-
ness in New York City for the taxpayer or the taxpayer paid only the minimum tax for the preceding year. Failure to pay or underpay-
ment of estimated tax in these circumstances will result in penalties.

LINE 1 - DECLARATION OF ESTIMATED TAX FOR CURRENT YEAR


S corporations and qualified Subchapter S subsidiaries subject to the New York City General Corporation Tax whose tax liability for the
preceding year exceeds $1,000 are required to pay, with the tax report for the preceding year or with the application for extension of time
for the filing of such report, 25% of the tax liability for the preceding year as a first installment of estimated tax for the current year. Every
C corporation subject to the New York City Business Corporation Tax must file Form NYC-300 (Mandatory First Installment (MFI) by Busi-
ness C Corporations) and pay 25% of the tax liability for the second preceding year as a first installment of estimated tax for the current
year if its tax for the second preceding year exceeded $1,000. The second preceding year’s tax means the tax imposed on the taxpayer by
section 11-653 of the Administrative Code for the second preceding calendar or fiscal year. After taking credit for that 25% payment and
for the amount of any overpayment shown on last year’s return which the taxpayer elected to have applied as a credit against the current
year’s tax, taxpayers filing estimated tax are required to pay the balance of estimated tax in fractional installments.

ESTIMATED TAX DUE DATES

If the requirements for filing estimated payments File the form on or before the: The balance of estimated tax is due as follows:
are first met during the taxable year:
Before the first day of the 6th month 15th day of the 6th month l 1/3 by the 15th day of the 6th month
l 1/3 by the 15th day of the 9th month
l 1/3 by the 15th day of the 12th month
On or after the first day of the 6th month and before the 15th day of the 9th month l 1/2 by the 15th day of the 9th month
first day of the 9th month l 1/2 by the 15th day of the 12th month
On or after the first day of the 9th month and before the 15th day of the 12th month. In lieu of this form, Pay in full
first day of the 12th month a completed tax report, with payment of any unpaid
balance of tax, may be filed on or before the 15th day
of the 2nd month of the following year.

If any of the above dates fall on a Saturday, Sunday or legal holiday, the due date is the next business day.

AMENDMENTS
An amended form should be filed, if necessary, to correct the tax estimate and related payments. Use Form NYC-400 for the amendment.
If the amendment is made after the 15th day of the 9th month of the taxable year, any increase in tax must be paid with the amendment.

LATE FILING
If the NYC-400 is filed after the time prescribed in the chart above, all installments of estimated tax due on or before such time are payable
at once and the remaining installments are due as if the form were timely filed.

PENALTY
The law imposes penalties for failure to pay or underpayment of estimated tax. (Refer to Section 11-676, Subdivisions 3 and 4 of the Admin-
istrative Code.)

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