Form NYC-EXT "Application for Automatic Extension of Time to File Business Income Tax Returns" - New York City

What Is Form NYC-EXT?

This is a legal form that was released by the New York City Department of Finance - a government authority operating within New York City. As of today, no separate filing guidelines for the form are provided by the issuing department.

Form Details:

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Download Form NYC-EXT "Application for Automatic Extension of Time to File Business Income Tax Returns" - New York City

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- EXT
2020
n
Final Return
- Check this box if you have ceased operations in NYC.
For CALENDAR YEAR 2020 or Fiscal Year beginning ___________________, 2020 and ending ________________, ________
PRINT OR TYPE
Name (if combined corporate filer, give name of reporting corporation)
n
EMPLOYER IDENTIFICATION NUMBER
Name
Change
In Care of
First Name
Last Name
OR
Unincorporated
n
Name
Business-Individuals
SOCIAL SECURITY NUMBER
Change
Only
-
(
)
FOR UNINCORPORATED BUSINESS
INDIVIDUALS ONLY
Business 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
Email Address
Tax Type
Corporation Tax
Unincorporated Business Tax (UBT)
n
n
n
n
n
Business
General-Subchapter S
Banking
Partnership
Individuals
C Corporations only
Corporations and
Subchapter S
Single-Member LLCs,
Qualified Subchapter S
Corporations only
Estates or Trusts
Subsidiaries only
NYC-2
NYC-3L
NYC-1
NYC-204
NYC-202
NYC-2A
NYC-3A
NYC-1A
NYC-204EZ
NYC-202S
NYC-2S
NYC-4S
NYC-202EIN
NYC-4SEZ
n
Check the box if the organization is a corporation and is the common parent of a group that intends to file
a combined return. If checked, attach a schedule, listing the name, address and Employer Identification
Number (EIN) for each member covered by this application.
Payment Information
For payment amount, refer to the tax form for the tax that you will be filing after the extension period.
Finance forms and instructions are available on line at NYC.gov/finance.
Payment Amount
Amount included with form.
A. Payment
Make payable to: NYC Department of Finance........................A.
1. Current Year Estimated Tax ...................................................................... 1. ________________________________
2. If amount on line 1 exceeds $1,000, enter 25% of line 1
(For S Corporations only -- UBT and C Corporations leave blank
and see instructions) ................................................................................. 2. ________________________________
3. Total of lines 1 and 2 ................................................................................. 3. ________________________________
4. Total payments and credits ....................................................................... 4. ________________________________
5. Balance due. Subtract line 4 from line 3 ................................................... 5. ________________________________
CERTIFICATION OF TAXPAYER OR OF AN ELECTED OFFICER OF THE CORPORATION
I hereby certify that this form, including any accompanying rider, is, to the best of my knowledge and belief, true, correct and complete.
______________________________________________________
______________________________________________
_______________________________
Signature:
Title (if an officer):
Date:
31212091
NYC-EXT 2020
- EXT
2020
n
Final Return
- Check this box if you have ceased operations in NYC.
For CALENDAR YEAR 2020 or Fiscal Year beginning ___________________, 2020 and ending ________________, ________
PRINT OR TYPE
Name (if combined corporate filer, give name of reporting corporation)
n
EMPLOYER IDENTIFICATION NUMBER
Name
Change
In Care of
First Name
Last Name
OR
Unincorporated
n
Name
Business-Individuals
SOCIAL SECURITY NUMBER
Change
Only
-
(
)
FOR UNINCORPORATED BUSINESS
INDIVIDUALS ONLY
Business 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
Email Address
Tax Type
Corporation Tax
Unincorporated Business Tax (UBT)
n
n
n
n
n
Business
General-Subchapter S
Banking
Partnership
Individuals
C Corporations only
Corporations and
Subchapter S
Single-Member LLCs,
Qualified Subchapter S
Corporations only
Estates or Trusts
Subsidiaries only
NYC-2
NYC-3L
NYC-1
NYC-204
NYC-202
NYC-2A
NYC-3A
NYC-1A
NYC-204EZ
NYC-202S
NYC-2S
NYC-4S
NYC-202EIN
NYC-4SEZ
n
Check the box if the organization is a corporation and is the common parent of a group that intends to file
a combined return. If checked, attach a schedule, listing the name, address and Employer Identification
Number (EIN) for each member covered by this application.
Payment Information
For payment amount, refer to the tax form for the tax that you will be filing after the extension period.
Finance forms and instructions are available on line at NYC.gov/finance.
Payment Amount
Amount included with form.
A. Payment
Make payable to: NYC Department of Finance........................A.
1. Current Year Estimated Tax ...................................................................... 1. ________________________________
2. If amount on line 1 exceeds $1,000, enter 25% of line 1
(For S Corporations only -- UBT and C Corporations leave blank
and see instructions) ................................................................................. 2. ________________________________
3. Total of lines 1 and 2 ................................................................................. 3. ________________________________
4. Total payments and credits ....................................................................... 4. ________________________________
5. Balance due. Subtract line 4 from line 3 ................................................... 5. ________________________________
CERTIFICATION OF TAXPAYER OR OF AN ELECTED OFFICER OF THE CORPORATION
I hereby certify that this form, including any accompanying rider, is, to the best of my knowledge and belief, true, correct and complete.
______________________________________________________
______________________________________________
_______________________________
Signature:
Title (if an officer):
Date:
31212091
NYC-EXT 2020
Form NYC-EXT - 2020
Page 2
I N S T R U C T I O N S
Legislative Changes
and is the corporation’s taxable year for that pe-
riod. The corporation must file a final return or
For tax years beginning in 2019 and 2020, New
apply for an extension of time to file a final return
York City has decoupled from certain provisions
on or before the 15th day after the date that the
of the federal CARES Act. See Chapter 121 of
corporation ceases to be subject to the Corpora-
the New York State Laws of 2020. Instructions
tion Tax.
to the forms may not reflect these legislative
changes at this time.
4. A properly estimated tax must be either:
The Corporation Tax, as used in these instructions,
a) not less than 90% of the tax for the year for
refers to the Business Corporation Tax under Sub-
which an extension is requested as finally de-
chapter 3-A, General Corporation Tax under Sub-
termined
- or -
chapter 2 and Banking Corporation Tax under Part 4
b) not less than the tax shown on the return for
of Subchapter 3 of Chapter 6 of Title 11 of the NYC
the preceding taxable year if that year con-
Administrative Code.
sisted of 12 months.
See the instructions to Forms NYC-2, NYC-2A,
NOTE: For this purpose, the tax as finally deter-
NYC-2S, NYC-3L, NYC-3A, NYC-4S, NYC-4S-EZ,
mined includes a final determination of the tax due
NYC-1 and NYC-1A for legislative changes affecting
for the taxable period after an audit, the filing of an
the calculation of the Corporation Tax.
amended return or any other adjustment or cor-
See the instructions to Forms NYC-202, NYC-
rection.
202EIN and NYC-204 for legislative changes affect-
The preceding tax year is the tax year occurring
ing the calculation of the Unincorporated Business
Tax (UBT).
immediately before the tax year for which this ex-
tension is requested.
Requirements for a Valid New York City Extension
For UBT partnership filers, if the partnership had
1. If you file this application on or before the due
$1,000,000 or more of unincorporated business
date, you will automatically receive an extension
taxable income allocated to the City for any tax-
of six months after the due date for the filing of
able year during the three years immediately pre-
your completed tax return, if you properly estimate
ceding the taxable year covered by this
the tax and send a remittance in the amount
application, a properly estimated tax is not less
shown on line 5. (If line 4 exceeds line 3, no re-
than 90% of the tax as it is finally determined.
mittance is required.)
Clause (b) above is not applicable.
2. A corporate taxpayer that has received an auto-
Finance will not grant an extension to a taxpayer
matic six-month extension by filing this form may
that fails to meet all of these requirements. If the
request up to two additional three-month exten-
tax return for which the extension was requested
sions by filing NYC-EXT.1. A separate form NYC-
is filed after the due date, the Department may as-
EXT.1 must be filed for each additional three-month
sess late charges and interest. If the taxpayer has
extension requested. The Department of Finance
obtained a valid automatic extension, only interest
may grant one or both additional three-month ex-
will be charged on any balance due with the re-
tensions if good cause exists.
turn.
A UBT taxpayer may not request an additional ex-
Line 1
tension.
On line 1, enter the estimated tax, after allowable
credits for the year covered by this application. See
3. If a corporation ceases to be subject to tax under
paragraph 4 under “Requirements for a Valid New
the Corporation Tax, the tax accounting period
York City Extension”.
ends on the date on which the cessation occurs
Form NYC-EXT - 2020
Page 3
Combined Filers
(ii) for corporations other than the reporting corpora-
The combined filing is subject to revision or disal-
tion (“subsidiaries”), the amount on Form NYC-3A/B,
lowance on audit. The combined group should file a
Schedule H, Line 6a in the column for that subsidiary,
joint application for automatic extension on one form.
except if there is only one subsidiary, in which case
the amount entered on Form NYC-3A, Schedule H,
The amount entered on this line should be the esti-
Column B, Line 6a.
mated tax plus the minimum tax for each taxpayer
TABLE 1 - GENERAL CORPORATION TAX -
included in the combined group, except the reporting
FIXED DOLLAR MINIMUM TAX
corporation, which is responsible for the combined
tax.
For a corporation with New York City receipts of:
The minimum tax for Corporation Tax except for
Not more than $100,000:..................................$25
Banking Corporation Tax, is calculated based on a
More than $100,000
sliding scale (see tables below). The minimum tax
but not over $250,000: .....................................$75
for Banking Corporation Tax is $125.
More than $250,000
but not over $500,000: ...................................$175
NOTE: A combined return member is excused from
More than $500,000
the minimum tax payment if it is not subject to tax.
but not over $1,000,000: ................................$500
More than $1,000,000
MINIMUM TAX
but not over $5,000,000: .............................$1,500
To determine the Minimum Tax for Corporations ex-
More than $5,000,000
cept Banking Corporations, use the following tables.
but not over $25,000,000: ...........................$3,500
Table 1 is for all corporations subject to the Gen-
Over $25,000,000:.......................................$5,000
eral Corporation Tax. This would apply to Subchap-
ter S Corporations and Qualified Subchapter
TABLE 2 - BUSINESS CORPORATION TAX -
Subsidiaries only. Table 2 applies to all C corpora-
FIXED DOLLAR MINIMUM TAX
tions subject to the Business Corporation Tax.
For a corporation with New York City receipts of:
The amount of New York City receipts for this purpose
is the total amount of all receipts the taxpayer has re-
Not more than $100,000:..................................$25
ceived in the regular course of business from such
More than $100,000
sources as sales of personal property, services per-
but not over $250,000: .....................................$75
formed, rentals of property and royalties. For C cor-
More than $250,000
porations filing on Forms NYC-2, NYC-2A or NYC-2S,
but not over $500,000: ...................................$175
the receipt amount would be the amount shown on
More than $500,000
NYC-2, Schedule F, Part 1, Line 1, Column A, or
but not over $1,000,000: ................................$500
Schedule F, Part 2, Line 2a, Column A; or NYC-2S,
More than $1,000,000
Schedule A, line 14. For combined groups filing Form
but not over $5,000,000: .............................$1,500
NYC-2A, the minimum tax for member corporations
More than $5,000,000
(other than the designated agent) is the amount that
but not over $25,000,000: ...........................$3,500
would be entered on line 5 of Schedule A of that form
More than $25,000,000
and the minimum tax for the designated agent is the
but not over $50,000,000: ...........................$5,000
amount that would be entered on line 3 of Schedule A
More than $50,000,000
of that form. See the instructions to Form NYC-2A.
but not over $100,000,000: .......................$10,000
For S corporations subject to General Corporation
More than $100,000,000
Tax, the receipts amount would be the same as the
but not over $250,000,000: .......................$20,000
amount that would have to be shown on Form NYC-
More than $250,000,000
3L, Schedule H, Column A, Line 6. For taxpayers
but not over $500,000,000: .......................$50,000
which are part of a combined group, the amount would
More than $500,000,000
be (i) for the reporting corporation, the amount on
but not over $1,000,000,000: ..................$100,000
Form NYC-3A, Schedule H, Column A line 6a; and
More than $1,000,000,000: .....................$200,000
Form NYC-EXT - 2020
Page 4
Short periods - fixed dollar minimum tax. Compute
NYC-EXT) but have not paid the MFI due for the
the New York City receipts for short periods (tax pe-
2020 tax year (for a calendar year taxpayer, this
riods of less than 12 months) by dividing the amount
would have been due on March 15, 2020), you must
of New York receipts by the number of months in the
pay that amount with Form NYC-300, not with this
short period and multiplying the result by 12. The
form.
fixed dollar minimum tax may be reduced for short
periods:
When to File
This application must be filed no later than 2 1/2
Period Reduction
months after the year end for the S corporations and
UBT - Partnerships or 3 1/2 months after the year
l Not more than 6 months ............................50%
end for C corporations and UBT - Individuals. Cor-
l More than 6 months
porate taxpayers requesting an extension to file a
but not more than 9 months .......................25%
final return, see paragraph #3 under “Requirements
for a Valid New York City Extension”.
l More than 9 months..................................None
CAUTION
Line 2
An extension of time to file your federal tax return or
This line is only applicable to S corporations re-
New York State Franchise Tax return does NOT ex-
questing an extension to file a return, except S cor-
tend the filing date of your New York City tax return.
porations requesting an extension to file a final
return. It is not applicable to C corporations or tax-
payers subject to the New York City Unincorporated
Business Tax.
l S Corporations only - If the estimated tax
shown on line 1 exceeds $1,000, you must pay
E L E C T R O N I C F I L I N G
the amount shown on line 2 as the first install-
ment payment of estimated tax for the calendar
Register for electronic filing. eServices is an
year or fiscal year following the tax year cov-
easy, secure and convenient way to file an ex-
ered by this application. The amount shown on
tension and pay tax on-line.
line 2, if properly computed, is your required
For more information log on to:
first installment of estimated tax for the follow-
ing year, and cannot be changed when filing
NYC.gov/eservices
your completed tax return.
M A I L I N G I N S T R U C T I O N S
l C Corporations Only - Every C corporation sub-
ject to the New York City Business Corporation
Make remittance payable to the order of:
Tax (Title 11, Chapter 6, Subchapter 3-A of the
NYC DEPARTMENT OF FINANCE
Administrative Code) must file Form NYC-300
Payment must be made in U.S.dollars, drawn
and pay the Mandatory First Installment (“MFI”)
on a U.S. bank.
if its tax for the second preceding year ex-
ceeded $1,000. The MFI is equal to 25 percent
To receive proper credit, you must enter your cor-
of the tax for the second preceding tax year,
rect Employer Identification Number or Social Se-
and is due with the filing of Form NYC-300 2-1/2
curity Number on your application and remittance.
months into the year for which the first install-
ment is paid. For a calendar year taxpayer, the
M A I L A P P L I C AT I O N S T O :
due date of Form NYC-300 is March 15th. If any
of the dates fall on a Saturday, Sunday or legal
NYC DEPARTMENT OF FINANCE
holiday, the due date is the next business day.
P.O. BOX 3653
If you wish to file an application for extension (Form
NEW YORK, NY 10008-3653
Page of 4