An Overview of New York State Business Income Tax Extension Forms

- Updated Feb 27, 2021 - 8.00 AM by Admin, ExpressExtension

Does New York support tax extension for business income tax returns?

Q

Yes. New York requires a separate tax extension Form to be filed with the state department apart from the federal tax extension Form 7004.

What Form does the state of New York require to apply for an extension?

Q
For Corporation

The businesses operating (as Corporation or S-Corporation) in New York need to file Form CT-5 with the state to obtain a 6-month extension of time to file their business income tax return with the state.

  • Form CT-5 - Request for Six-Month Extension to File
    (for franchise/business taxes, MTA surcharge, or both
  • Form CT-5.3 - Request for Six-Month Extension to File
    (for a combined franchise tax return or combined MTA surcharge return, or both)
  • Form CT-5.4 - Request for Six-Month Extension to File New York S Corporation Franchise Tax Return
For Partnership

The businesses operating (as Partnership) in New York need to file Form IT-370-PF with the state to obtain a 6-month extension of time to file their business income tax return with the state.

Note: Make sure to pay any taxes due along with the extension Form to avoid penalties and interest.

When is the deadline to file Form CT-5 and IT-370-PF with the state of New York?

Q
New York General Corporation Tax Extension

New York State General Business Corporation tax return Form CT-3 is due within 3 months and 15 days following the end of the corporation reporting period.

For corporations operating on a calendar year, this deadline is on April 15.

To file an extension for Form CT-3, apply for an extension using Form CT-5 on or before the same date the business tax return is due.

Form CT-5 grants an automatic 6-month extension of time to file Form CT-3.

Note: Make sure to pay any taxes due along with the extension Form to avoid penalties and interest.

New York S-Corporation Tax Extension

New York state S-Corporation tax return Form CT-3-S is due within 2 months and 15 days following the end of the S-Corporation reporting period.

For S-Corporations operating on calendar year, this deadline is on March 15, 2021.

To file an extension for Form CT-3-S, apply for an extension using Form CT-5.4 on or before the same date the business tax return is due.

Form CT-5 grants an automatic 6-month extension of time to file Form CT-3.

Note: Make sure to pay any taxes due along with the extension Form to avoid penalties and interest.

New York Limited Liability / Partnership Tax Extension

New York state Partnership tax return Form IT-204, and limited liability Form IT-204-LL is due by the 15th day of the third month after the end of the partnership reporting period.

For partnership and Limited Liability business operating on calendar year, this deadline is on March 15, 2021.

To file an extension for Form IT-204, apply for an extension using Form IT-370-PF on or before the same date the partnership tax return is due.

Form IT-370-PF grants an automatic 6-month extension of time to file Form IT-204.

Note: Make sure to pay any taxes due along with the extension Form to avoid penalties and interest.

How do I pay my balance due along with the extension Form?

Q

You can choose to pay your balance due along with your return by using any one of the following option:

  • Online services offered by New York State (https://www.tax.ny.gov/online/bus.htm).
  • Web File to pay estimated tax for corporation (CT-400) and Mandatory First Installment of Estimated Tax for corporations (CT-300).
    • Direct debit from your bank account or ACH Credit.
  • For partnership returns, you can pay from your bank account, or by credit card.
  • Payment Vouchers - for those who e-filed returns, but want to make payments by check or money order.
    • Form CT-200-V, Payment Voucher for those who filed the extension, but want to pay by check or money order.
    • Form IT-370-V, Payment Voucher, or Form IT-370-PF, Payment Voucher for Partnerships and Fiduciaries.

Where do I mail the extension Form CT-5 and Form IT-370-PF?

Q

Mail Form CT-5 to the following address

NYS CORPORATION TAX
PO BOX 15180
ALBANY NY 12212-5180

Mail Form IT-370-PF to the following address

EXTENSION REQUEST
PO BOX 4125
BINGHAMTON NY 13902-4125