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Department of Taxation and Finance

Partnerships

For New York State income tax purposes, a partnership is a syndicate, group, pool, joint venture, or other unincorporated organization that is carrying on a trade or business and is classified as a partnership for federal income tax purposes. A limited liability partnership (LLP) or a limited liability company (LLC) that is treated as a partnership for federal income tax purposes is also a partnership for New York State income tax purposes.

A corporation, trust, or estate is not a partnership although it may be a partner or member of a partnership.

Tiered partnerships

A partnership that is a partner or member of another partnership (lower tier partnership) will report its distributive share of profits and losses from the lower tier partnership on its partnership return.

Income tax responsibilities

A partnership:

  • does not pay income tax directly on its income. The partnership's income is passed through to its partners and is included as income on each partner's income tax or franchise tax return.
  • must file Form IT-204, Partnership Return if it has either (1) at least one partner who is an individual, estate, or trust that is a resident of New York State, or (2) any income, gain, loss, or deduction from New York sources (see instructions).

When to file partnership returns 

When to file partnership returns
Form Due date

Form IT-204, Partnership Return, and any attachments to Form IT-204
  • Returns for calendar year filers are due March 15.
  • Fiscal-year returns are due the 15th day of the third month after the end of the tax year.
  • If a partnership is terminated and completely liquidated during its normal tax year, resulting in an accounting period of less than 12 months for federal income tax purposes, the return is due the 15th day of the third month after the end of the accounting period.
Form IT-204-LL, Partnership, Limited Liability Company, and Limited Liability Partnership Filing Fee Payment Form

The annual filing fee is due:

  • March 15 for calendar year filers.
  • The 15th day of the third month after the end of the tax year for fiscal year filers.

Note: There is no extension of time to file Form IT-204-LL or pay the fee.

When the due date falls on a Saturday, Sunday, or legal holiday, you may file your return on or before the next business day. 

Extension of time to file

If you can't file your partnership return by the due date, you can apply for an automatic six-month extension of time to file. 

Fiscal year filers should contact us to request an extension of time to file. 

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