Due date reminders for corporation tax filers
Mandatory first installment due March 15, 2018
New York C corporations subject to tax under Article 9-A, Article 33 corporations, and corporations subject to tax under Article 9, sections 184, 186-a, and 186-e, whose second preceding year’s franchise, excise, or gross receipts tax after credits exceeds $1,000 must pay a mandatory first installment (MFI) of estimated tax for the upcoming tax year. If the second preceding year’s tax after credits exceeds $1,000 and the corporation is subject to the metropolitan transportation business tax (MTA surcharge), an MFI of estimated MTA surcharge is also required.
This payment is due 2 ½ months after the close of your tax year, so for calendar-year filers, the MFI is due on March 15, 2018. These taxpayers file and pay using Form CT-300, Mandatory First Installment (MFI) of Estimated Tax for Corporations.
If you do not have a second preceding tax year because a return was not required to be filed, then you are not required to make an MFI of estimated tax. However, you must still make a declaration of estimated tax, and pay the remaining three installments of estimated franchise tax and MTA surcharge with Form CT-400, Estimated Tax for Corporations. In order to properly determine the amount of second, third, and fourth payments, the effect of not having made an MFI payment must be taken into consideration and reflected in the remaining payments.
New York S corporations and continuing section 186 corporations do not file Form CT-300. These entities must remit their mandatory first installment of estimated tax for the next tax period on their respective prior year’s tax return or extension due on March 15, 2018, and it is based upon the preceding year’s tax rather than the second preceding year’s tax. New York S corporations are not subject to the MTA surcharge. If the continuing section 186 corporation’s preceding year’s tax exceeded $1,000 and the corporation is subject to the MTA surcharge, it is also required to pay an MFI of estimated MTA surcharge.
Article 9, section 183 taxpayers are not required to make MFI payments.
For more information, including answers to frequently asked questions, see:
- TSB-M-16(10)C, Changes to the Mandatory First Installment of Estimated Tax for Corporations, and
- Form CT-300, Mandatory First Installment of Estimated Tax for Corporations.
2017 corporate tax returns due starting April 17, 2018
Calendar-year New York C corporations subject to tax under Article 9-A (except DISCs), Article 33 corporations, and corporations subject to tax under Article 9, sections 183, 183-a, 184, 184-a, 186-a, 186-c, and 186-e are required to file a return or extension by April 17, 2018. Fiscal-year filers must file a return or extension 3 ½ months after the close of their tax year.
Note: The tax imposed under section 185 on farmers’, fruit growers’ and agricultural cooperatives has been repealed beginning in 2018 and Form CT-185 has been obsoleted. Additionally, these taxpayers are exempt from tax under Article 9-A for tax years beginning on or after 1/1/18 and are not required to file Form CT-3.
2017 New York S corporation, partnership, and LLC/LLP filing fee returns due March 15, 2018
Calendar-year New York S corporations and partnerships are required to file a return or extension by March 15, 2018. Fiscal-year filers must file their return or extension 2 ½ months after the close of their tax year. The LLC/LLP filing fee is due 2 ½ months after the close of each tax year but no extensions for filing or paying the fee are allowed.
For more information regarding return and extension due dates, see TSB-M-16(9)C, (7)I, Amendments to Tax Return Due Dates and Extensions.
With the change to a new Article 9-A corporate tax system starting with the 2015 tax year, corporations were required to file tax returns that had some notable differences from prior versions. The Tax Department noticed a number of mistakes that were occurring fairly frequently among filers. In response, we created a webpage that addresses these common filing errors and provides guidance to avoid making these mistakes and slowing the processing of your return: Avoid common Article 9-A corporation filing errors.