Form NYC-5UBTI "Declaration of Estimated Unincorporated Business Tax (For Individuals, Estates and Trusts)" - New York City, New York City

Form NYC-5UBTI or the "Declaration Of Estimated Unincorporated Business Tax (for Individuals, Estates And Trusts)" is a form issued by the New York City Department of Finance.

The form was last revised in January 1, 2017 and is available for digital filing. Download an up-to-date Form NYC-5UBTI in PDF-format down below or look it up on the New York City Department of Finance Forms website.

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Download Form NYC-5UBTI "Declaration of Estimated Unincorporated Business Tax (For Individuals, Estates and Trusts)" - New York City, New York City

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5UBTI
-
DECLARATION OF ESTIMATED
2017
UNINCORPORATED BUSINESS TAX
TM
Department of Finance
(FOR INDIVIDUALS, ESTATES AND TRUSTS)
For CALENDAR YEAR 2017 or Fiscal YEAR beginning ___________________________ and ending ____________________________
First name and initial
Last name
Name
n
SOCIAL SECURITY NUMBER
Change
Business name
BUSINESS CODE NUMBER AS PER FEDERAL RETURN
Business address (number and street)
n
Address
Change
City and State
Zip Code
Country (if not US)
ESTATES AND TRUSTS ONLY, ENTER EMPLOYER IDENTIFICATION NUMBER
Business Telephone Number
Taxpayer’s Email Address
Payment Amount
Payment
Amount included with form - Make payable to: NYC Department of Finance...........A.
A.
1.
............................................................................................................................1.
Estimate of 2017 tax
2.
2.
Amount to be paid with this declaration (Payable to: NYC DEPARTMENT OF FINANCE).................................
Title __________________________________________________
Signature of taxpayer
Date ______________________
_______________________________________________________________________
To receive proper credit, you must enter your correct Social Security Number or Employer Identification Number on your declaration and remittance.
DETACH ON DOTTED LINE & MAIL UPPER PORTION. RETAIN LOWER PORTION FOR YOUR RECORDS
ESTIMATED TAX WORKSHEET
t KEEP THIS PORTION FOR YOUR RECORDS t
1.
Net income from business expected in 2017
1.
(see instructions)
..........................................................................................................
2.
Exemption
2.
(see instructions)
.........................................................................................................................................................................................................
3.
Line 1 less line 2 (estimated taxable business income)
3.
.....................................................................................................................
4.
Tax - enter 4% of line 3
4.
(see instructions)
.....................................................................................................................................................................
5a. Business Tax Credit
(4) (Check applicable box below and enter credit amount)
Tax on line 4 is $3,400 or less. Your credit is the entire amount of tax on line 4.
q
Tax on line 4 is $5,400 or over. No credit is allowed. Enter "0".
q
Tax on line 4 is over $3,400 but less than $5,400, use formula for credit amount:
q
5a.
Tax on line 4 x ($5,400 minus tax on line 4)
....................................................
$2,000
5b. Other credits
5b.
(see instructions)
.........................................................................................................
5c. Total credits (add lines 5a and 5b)
5c.
...........................................................................................................................................................................
6.
Estimated 2017 Unincorporated Business Tax (line 4 less line 5c)
Enter here, on line 7b, and on line 1 of declaration above
6.
............................................................................................................
7a.
7a.
7b.
..7b.
2016 Unincorporated Business Tax..
Estimate of 2017 tax from line 6
}
-
(4) Check proper box below and enter amount indicated. Fiscal year taxpayers see instructions.
COMPUTATION OF INSTALLMENT
n
n
8.
April 18, 2017, enter 1/4 of line 7b
Sept. 15, 2017, enter 1/2 of line 7b
If this declaration
......
8.
n
n
is due on:
June 15, 2017, enter 1/3 of line 7b
Jan. 16, 2018, enter amount of line 7b
...9.
9.
Enter amount of overpayment on 2016 return which you elected to have applied as a credit against 2017 estimated tax
10.
10.
Amount to be paid with this declaration (line 8 less line 9) (Payable to: NYC DEPARTMENT OF FINANCE) .........
MAILING INSTRUCTIONS
Make remittance payable to the order of:
MAIL YOUR DECLARATION FORM TO:
NYC DEPARTMENT OF FINANCE
NYC DEPARTMENT OF FINANCE
UNINCORPORATED BUSINESS TAX
Payment must be made in U.S. dollars,
P. O. BOX 3923
drawn on a U.S. bank.
NEW YORK, NY 10008-3923
5UBTI
-
DECLARATION OF ESTIMATED
2017
UNINCORPORATED BUSINESS TAX
TM
Department of Finance
(FOR INDIVIDUALS, ESTATES AND TRUSTS)
For CALENDAR YEAR 2017 or Fiscal YEAR beginning ___________________________ and ending ____________________________
First name and initial
Last name
Name
n
SOCIAL SECURITY NUMBER
Change
Business name
BUSINESS CODE NUMBER AS PER FEDERAL RETURN
Business address (number and street)
n
Address
Change
City and State
Zip Code
Country (if not US)
ESTATES AND TRUSTS ONLY, ENTER EMPLOYER IDENTIFICATION NUMBER
Business Telephone Number
Taxpayer’s Email Address
Payment Amount
Payment
Amount included with form - Make payable to: NYC Department of Finance...........A.
A.
1.
............................................................................................................................1.
Estimate of 2017 tax
2.
2.
Amount to be paid with this declaration (Payable to: NYC DEPARTMENT OF FINANCE).................................
Title __________________________________________________
Signature of taxpayer
Date ______________________
_______________________________________________________________________
To receive proper credit, you must enter your correct Social Security Number or Employer Identification Number on your declaration and remittance.
DETACH ON DOTTED LINE & MAIL UPPER PORTION. RETAIN LOWER PORTION FOR YOUR RECORDS
ESTIMATED TAX WORKSHEET
t KEEP THIS PORTION FOR YOUR RECORDS t
1.
Net income from business expected in 2017
1.
(see instructions)
..........................................................................................................
2.
Exemption
2.
(see instructions)
.........................................................................................................................................................................................................
3.
Line 1 less line 2 (estimated taxable business income)
3.
.....................................................................................................................
4.
Tax - enter 4% of line 3
4.
(see instructions)
.....................................................................................................................................................................
5a. Business Tax Credit
(4) (Check applicable box below and enter credit amount)
Tax on line 4 is $3,400 or less. Your credit is the entire amount of tax on line 4.
q
Tax on line 4 is $5,400 or over. No credit is allowed. Enter "0".
q
Tax on line 4 is over $3,400 but less than $5,400, use formula for credit amount:
q
5a.
Tax on line 4 x ($5,400 minus tax on line 4)
....................................................
$2,000
5b. Other credits
5b.
(see instructions)
.........................................................................................................
5c. Total credits (add lines 5a and 5b)
5c.
...........................................................................................................................................................................
6.
Estimated 2017 Unincorporated Business Tax (line 4 less line 5c)
Enter here, on line 7b, and on line 1 of declaration above
6.
............................................................................................................
7a.
7a.
7b.
..7b.
2016 Unincorporated Business Tax..
Estimate of 2017 tax from line 6
}
-
(4) Check proper box below and enter amount indicated. Fiscal year taxpayers see instructions.
COMPUTATION OF INSTALLMENT
n
n
8.
April 18, 2017, enter 1/4 of line 7b
Sept. 15, 2017, enter 1/2 of line 7b
If this declaration
......
8.
n
n
is due on:
June 15, 2017, enter 1/3 of line 7b
Jan. 16, 2018, enter amount of line 7b
...9.
9.
Enter amount of overpayment on 2016 return which you elected to have applied as a credit against 2017 estimated tax
10.
10.
Amount to be paid with this declaration (line 8 less line 9) (Payable to: NYC DEPARTMENT OF FINANCE) .........
MAILING INSTRUCTIONS
Make remittance payable to the order of:
MAIL YOUR DECLARATION FORM TO:
NYC DEPARTMENT OF FINANCE
NYC DEPARTMENT OF FINANCE
UNINCORPORATED BUSINESS TAX
Payment must be made in U.S. dollars,
P. O. BOX 3923
drawn on a U.S. bank.
NEW YORK, NY 10008-3923
Form NYC-5UBTI - 2017 - Instructions
Page 2
NOTE
making a false or fraudulent declaration or certification.
If any due date falls on Saturday, Sunday or legal holiday, filing will be timely if made by
FISCAL YEAR TAXPAYERS
the next day which is not a Saturday, Sunday or holiday.
A taxpayer filing its Unincorporated Business Tax Return on a fiscal year basis should substi-
PURPOSE OF DECLARATION
tute the corresponding fiscal year months for the months specified in the instructions. For ex-
This declaration form provides a means of paying Unincorporated Business Tax on a current
ample, if the fiscal year begins on April 1, 2017, the Declaration of Estimated Unincorporated
basis for individuals, estates and trusts engaged in carrying on an unincorporated business or
Business Tax will be due on July 15, 2017, together with payment of first quarter estimated
profession, as defined in Section 11-502 of the Administrative Code. Partnerships use Form
tax. In this case, equal installments will be due on or before September 15, 2017, December 15,
NYC-5UB for filing their declarations.
2017, and April 16, 2018.
Every unincorporated business must file an income tax return after the close of its taxable year
CHANGES IN INCOME
and pay any balance of tax due. If the tax has been overpaid, adjustment will be made only
Even though on April 17, 2017, you do not expect your unincorporated business tax to exceed
after the return has been filed.
$3,400, a change in income, allocation or exemption may require that a declaration be filed
WHO MUST MAKE A DECLARATION
later. In this event the requirements are as follows:
A 2017 declaration must be made by every individual, estate and trust carrying on an unincor-
porated business or profession in New York City if its estimated tax (line 6 of tax computation
Installment
File
Amount of
If requirement for filing occurs:
schedule) can reasonably be expected to exceed $3,400 for the calendar year 2017 (or, in the
payment
declaration by:
estimated
dates
case of a fiscal year taxpayer, for the fiscal year beginning in 2017).
tax due
after ............................but before
WHEN AND WHERE TO FILE DECLARATION
April 1, 2016 ................June 2, 2017
June 15, 2017
1/3
(1) June 15, 2017
You must file the declaration for the calendar year 2017 on or before April 18, 2017, or on the
applicable later dates specified in these instructions.
(2) Sept. 15, 2017
Mail your declaration form with or without remittance to:
(3) Jan. 16, 2018
June 1, 2017 ..................Sept. 2, 2017
Sept. 15, 2017
1/2
(1) Sept. 15, 2017
NYC Department of Finance
Unincorporated Business Tax
(2) Jan. 16, 2018
P. O. Box 3923
Sept. 1, 2017..................Jan. 1, 2018
Jan. 16, 2018
100%
None
New York, NY 10008-3923
If you file your 2017 Unincorporated Business Tax Return by February 15, 2018, and pay the
Fiscal year taxpayers, read instructions opposite regarding filing dates.
full balance of tax due, you need not: (a) file an amended declaration or an original declaration
HOW TO ESTIMATE UNINCORPORATED BUSINESS TAX
The worksheet on the
otherwise due for the first time on January 16, 2018, or (b) pay the last installment of estimated
front of this form will help you in estimating the tax for 2017.
tax otherwise due and payable on January 16, 2018.
LINE 1 -
CAUTION
The term “net income from business expected in 2017” means the amount estimated to be the
An extension of time to file your federal tax return or New York State personal income tax re-
2017 net income from business, including professions, before the unincorporated business ex-
turn does NOT extend the filing date of your New York City tax return.
emption. See Schedule A, line 14 of the 2016 Unincorporated Business Tax Return and related
instructions (Form NYC-202 or NYC-202EIN).
ELECTRONIC FILING
Note: Register for electronic filing. It is an easy, secure and convenient was to file a declara-
LINE 2 - EXEMPTION
tion and an extension and pay taxes on-line.
For the amount of the allowable exemption, see the instructions for the 2016 Form NYC-202
or NYC-202EIN, Schedule A, line 15.
For more information log on to NYC.gov/eservices
LINE 4 - UNINCORPORATED BUSINESS TAX
NOTE
If you expect to receive a refund or credit in 2017 of any sales or compensating use tax for
which a credit was claimed in a prior year under Administrative Code Section 11-503(k) (sales
Filing a declaration or an amended declaration, or payment of the last installment on January
and use tax credit), the amount of the estimated refund or credit must be added to the tax shown
16, 2018, or filing a tax return by February 15, 2018, will not satisfy the filing requirements if
on line 4 of the tax computation schedule.
you failed to file or pay an estimated tax which was due earlier in the taxable year.
LINE 5b - OTHER CREDITS
PRIVACY ACT NOTIFICATION
Enter on line 5b the amount estimated to be the sum of any credits allowable for 2017 under Ad-
The Federal Privacy Act of 1974, as amended, requires agencies requesting Social Security Numbers to in-
ministrative Code Sections 11-503(e) (real estate tax escalation credit), 11-503(f) (employment
form individuals from whom they seek this information as to whether compliance with the request is vol-
opportunity relocation costs credit) 11-503(i) (relocation and employment assistance program
untary or mandatory, why the request is being made and how the information will be used. The disclosure
(REAP) credit, 11-503(l) (lower Manhattan REAP Credit) 11-503(n) (Industrial Business Zone
of Social Security Numbers for taxpayers is mandatory and is required by section 11-102.1 of the Admin-
Credit) and 11-503(o) (Biotechnology Credit). (For additional details concerning these credits,
istrative Code of the City of New York. Such numbers disclosed on any report or return are requested for
refer to instructions for Forms NYC-114.5, NYC-114.6, NYC-114.8 and NYC-114.10)
tax administration purposes and will be used to facilitate the processing of tax returns and to establish and
maintain a uniform system for identifying taxpayers who are or may be subject to taxes administered and
Make remittance payable to NYC DEPARTMENT OF FINANCE. All remittances must be
collected by the Department of Finance, and, as may be required by law, or when the taxpayer gives writ-
payable in U. S. dollars drawn on a U. S. bank. Checks drawn on foreign banks will be rejected
ten authorization to the Department of Finance for another department, person, agency or entity to have ac-
and returned. A separate check for the declaration will expedite processing of the payment.
cess (limited or otherwise) to the information contained in his or her return.
AMENDED DECLARATION
If, after a declaration is filed, the estimated tax increases or decreases because of a change in
income, deductions, or allocation, you should file an amended declaration on or before the next
date for payment of an installment of estimated tax.
CHARGE FOR UNDERPAYMENT OF INSTALLMENTS OF ESTIMATED TAX
A charge is imposed for underpayment of an installment of estimated tax for 2017. For infor-
mation regarding interest rates, call 311. If calling from outside of the five NYC boroughs,
please call 212-NEW-YORK (212-639-9675). The Administrative Code follows provisions
similar to the Internal Revenue Code with respect to underpayments of estimated tax. Form
NYC-221 may be used to determine if any charge for underpayment is due or if any exceptions
apply. If it appears that there was an underpayment of any installment of estimated tax, a com-
pleted copy of Form NYC-221 may be attached to the return explaining why an additional
charge should not be made.
PENALTIES
The law imposes penalties for failure to make a declaration or pay estimated tax due or for
To receive proper credit, you must enter your correct Social Security Number or Employer Identification Number on your declaration and remittance.
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