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 member of a partnership.
- 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
- 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.
- may be required to pay an annual filing fee.
- may be required to pay estimated income tax on behalf of certain partners.
When to file partnership returns
Form IT-204, Partnership Return, and any attachments to Form IT-204
For tax years beginning before January 1, 2016:
For tax years beginning on or after January 1, 2016:
|Form IT-204-LL, Partnership, Limited Liability Company, and Limited Liability Partnership Filing Fee Payment Form||
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 five-month extension of time to file.
Fiscal year filers should contact us to request an extension of time to file.
For more information see:
- E-file mandate for business taxpayers
- Partnership and LLC/LLP tax forms
- New York State income tax credits
- New York State corporation tax credits
- Tax and reporting requirements
- E-file partnership information
- E-file partnership publications and forms
- TSB-M-00(1)I, New York Tax Treatment of Partnership and New York S Corporation Income of Part-Year Residents
Other useful Web sites
- Internal Revenue Service (IRS)
- New York State Department of State
- New York State Department of Labor
- New York City Finance