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(a) Requirement of declaration. (Administrative Code § 11-511(a)).
(1) Every unincorporated business shall make a declaration of estimated unincorporated business tax for each taxable year if: (i) for taxable years beginning after 1986 but before 1996, its unincorporated business taxable income can reasonably be expected to exceed $15,000; (ii) for taxable years beginning in 1996, its unincorporated business taxable income can reasonably be expected to exceed $20,000; and (iii) for taxable years beginning after 1996, its estimated unincorporated business tax can reasonably be expected to exceed $1,000 for the taxable year. The declaration must cover a calendar year accounting period, or a full fiscal year if the taxpayer files its unincorporated business tax return on a fiscal year basis, unless a declaration for a short period is required by 19 RCNY § 28-15(k).
(2) If the unincorporated business is carried on by an individual, an estate or a trust, any declaration required by paragraph (1) of this subdivision (a) shall be made on form NYC-5UBTI.
(3) If the unincorporated business is carried on by a partnership, joint venture or other similar unincorporated entity, any declaration required by paragraph (1) of this subdivision (a) shall be made on form NYC-5UB.
(b) Contents of declaration. For the purpose of making the declaration, the amount of the unincorporated business taxable income which the business can reasonably be expected to receive or accrue, depending upon the method of accounting upon which the unincorporated business taxable income is computed, or, for taxable years beginning after 1996, the amount of the estimated tax, shall be determined upon the basis of the facts and circumstances existing at the time prescribed for the filing of the declaration as well as those facts and circumstances reasonably to be anticipated for the taxable year.
(c) Definition of estimated tax. (Administrative Code, § 11-511(b)). For purposes of this section the terms "estimated tax" and "estimated unincorporated business tax" mean the amount which the unincorporated business estimates to be its tax for the taxable year under Chapter 5 of Title 11 of the Administrative Code, less the amount which it estimates to be credits, if any, allowable under 19 RCNY § 28-03(c), other than the credit relating to stock transfer tax allowable under 19 RCNY § 28-03(c)(2). These terms, as used in this section do not include the personal income tax imposed by Chapter 17 of Title 11 of the Administrative Code or the earnings tax imposed by Chapter 19 of Title 11 of the Administrative Code.
(d) Time for filing declaration of estimated unincorporated business tax for calendar year. (Administrative Code § 11-511(c)). A declaration of estimated unincorporated business tax for a calendar year shall be made on or before April 15 of such calendar year (except in cases referred to in 19 RCNY § 28-15(e)). If, however, the requirements necessitating the filing of a declaration are first met, in the case of a business on a calendar year basis, after April 1 but before June 2 of the calendar year, the declaration must be filed on or before June 15 of the taxable year; if such requirements are first met after June 1 and before September 2, the declaration must be filed on or before September 15 of the taxable year; and if such requirements are first met after September 1, the declaration must be filed on or before January 15 of the succeeding calendar year.
(e) Time for filing declaration by an unincorporated business having estimated unincorporated business income from farming. (Administrative Code, § 11-511(d)(1)).
(1) An unincorporated business which has an estimated unincorporated business taxable income from farming (including oyster farming) which is at least two-thirds of its total estimated unincorporated business taxable income for the taxable year may file its declaration for the taxable year by the date specified below, in lieu of the time prescribed in 19 RCNY § 28-15(d) and (j):
(i) if on a calendar year basis, on or before the 15th day of January of the succeeding calendar year, or
(ii) if on a fiscal year basis, on or before the 15th day of the month immediately following the close of the taxable year, or
(iii) in the case of a short taxable year, on or before the 15th day of the month immediately following the close of such taxable year.
(2) Income is attributable to farming if obtained from the cultivation of the soil, the raising or harvesting of any agricultural or horticultural commodities, or the raising of livestock, bees or poultry. The requisite percentage of unincorporated business income must be derived from the operation of stock, dairy, poultry, fruit or truck farming or from a plantation, ranch, nursery or orchard. If an unincorporated business receives, for the use of its land, income in the form of a share of the crops produced thereon, such income is from farming.
(f) Time for filing declaration by an unincorporated business having estimated unincorporated business tax of $40 or less for taxable year. (Administrative Code, § 11-511(d)(2)).
(1) For taxable years beginning before 1997, an unincorporated business which has an estimated unincorporated business tax of $40 or less may file its declaration for the taxable year as follows:
(i) if on a calendar year basis, on or before the 15th day of January of the succeeding calendar year, or
(ii) if on a fiscal year basis, on or before the 15th day of the month immediately following the close of such taxable year.
(iii) in the case of a short taxable year, on or before the 15th day of the month immediately following the close of such taxable year.
(2) Alternatively, if on or before
(i) February 15 of the succeeding calendar year, or
(ii) the 15th day of the second month immediately following the close of the taxable year, if a fiscal other than a calendar year, or
(iii) the 15th day of the second month immediately following the close of a short taxable year, an unincorporated business files its return for the taxable year and pays therewith the full amount of the tax shown to be due thereon, such return shall be considered as its declaration if the tax shown on the return is $40 or less.
(g) Amendments to declaration. (Administrative Code, § 11-511(e)). In making a declaration of estimated unincorporated business tax, the taxpayer is required to take into account the then existing facts and circumstances as well as those reasonably to be anticipated relating to prospective unincorporated business gross income, deductions, exemptions and credits for the taxable year. Amended or revised declarations may be made in any case in which the taxpayer estimates that the unincorporated business gross income, deductions, exemptions or credits will differ from the corresponding amounts reflected in the previous declaration. The amended declaration should be made on Part II of Notice of Estimated Tax Payment Due, Form NYC-B100, mailed to the taxpayer or, if such form is not received or if no installment payments are due on the prior declaration, on form NYC-5UBTI (or form NYC-5UB in the case of a partnership) marked "Amended." No refund will be issued due to the filing of an amended declaration, as consideration will be given to a refund only in connection with a completed unincorporated business tax return filed by the taxpayer for the taxable year covered by the declaration (and amended declaration).
(h) Time for filing amended declarations. (Administrative Code, § 11-511(e)). An amended declaration of estimated unincorporated business tax may be filed during any interval between installment dates prescribed for the taxable year. However, no amended declaration may be filed until after the due date of the original declaration and only one amended declaration may be filed during each interval between installment dates.
(i) Return as declaration or amendment. (Administrative Code, § 11-511(f)).
(1) If an unincorporated business files its unincorporated business tax return for the calendar year on or before February 15 of the succeeding calendar year, or if the taxpayer is on a fiscal year basis, the date corresponding thereto, and pays therewith the full amount of tax shown to be due on the return, then
(i) if the declaration is not required to be filed during the taxable year, but is required to be filed on or before January 15 of the succeeding year (or the date corresponding thereto in the case of a fiscal year), such return shall be considered as such declaration; or
(ii) if a declaration was filed during the taxable year, such return shall be considered as the amendment of the declaration permitted to be filed on or before January 15 of the succeeding year (or the date corresponding thereto in the case of a fiscal year), if the tax shown on the return is greater than the estimated tax shown in the declaration.
(2) The filing of a declaration or amended declaration or the payment of the last installment of estimated tax on January 15, or the filing of an unincorporated business tax return by February 15 (or the dates corresponding thereto in the case of a fiscal year) will not relieve the taxpayer of the additional charge for underpayment of installments if he failed to pay estimated unincorporated business tax which was due earlier in the taxable year.
(j) Fiscal years. (Administrative Code, § 11-511(g)).
(1) The provisions of this section and 19 RCNY § 28-16 shall apply to a taxable year other than a calendar year by the substitution of the corresponding fiscal year month for calendar year months referred to in this section.
(2) In the case of a business on a fiscal year basis (except in cases referred to in 19 RCNY § 28-15(e)), the declaration must be filed on or before the 15th day of the fourth month of the taxable year. If, however, the requirements prescribed for filing a declaration are first met after the first day of the fourth month, but before the second day of the sixth month, the declaration must be filed on or before the 15th day of the sixth month of the taxable year; such requirements are first met after the first day of the sixth month, but before the second day of the ninth month, the declaration must be filed on or before the 15th day of the ninth month of the taxable year; and if such requirements are first met after the first day of ninth month, the declaration must be filed on or before the 15th day of the first month of the succeeding fiscal year. Thus, if the business has a fiscal year ending on June 30, 1984, its declaration for such fiscal year must be filed on or before October 15, 1983. If, however, as a further example, the requirements for filing are met after October 1, 1983 and prior to December 2, 1983, the declaration need not be filed until December 15, 1983.
(k) Short taxable year. (Administrative Code, § 11-511(h)).
(1) No declaration may be made for a period of more than 12 months. If an unincorporated business is required to make a declaration of estimated unincorporated business tax pursuant to 19 RCNY § 28-15(a), and a short taxable year is involved, a separate declaration for such fractional part of the year is required, except as noted in paragraph (2) of this subdivision (k) below. For the purpose of determining whether the anticipated unincorporated business taxable income for a short taxable year, resulting from a change of accounting period, necessitates the filing of a declaration, the anticipated unincorporated business taxable income is computed on the basis of the short taxable year for which a return is to be made in accordance with the applicable rules for determination of unincorporated business taxable income as set forth in 19 RCNY § 28-18(a).
(2) No declaration is required if the short taxable year is:
(i) A period of less than four months, or
(ii) A period of at least four months, but less than six months, and the requirements of 19 RCNY § 28-15(a) are first met after the day of the fourth month, or
(iii) A period of at least six months, but less than nine months, and the requirements of 19 RCNY § 28-15(a) are first met after the first day of the sixth month, or
(iv) A period of nine months or more, and the requirements of 19 RCNY § 28-15(a) are first met after the first day of the ninth month.
(l) Time for filing declaration of estimated unincorporated business tax for a short taxable year. (Administrative Code, § 11-511(h)). In the case of a short taxable year, the declaration shall be filed (except in cases referred to in 19 RCNY § 28-15(k)(2)) on or before the 15th day of the fourth month of such taxable year. If the requirements for filing are first met after the first day of the fourth month, but before the second day of the sixth month, the declaration must be filed on or before the 15th day of the sixth month. If such requirements are first met after the first day of the sixth month, but before the second day of the ninth month, the declaration must be filed on or before the 15th day of the ninth month. If, however, the period for which the declaration is filed is
(1) at least four months, but less than six months, or
(2) at least six months, but less than nine months, and the requirements are not met until after the first day of the fourth month, or
(3) is for nine months or more, and such requirements are not met until after the first day of the sixth month, the declaration may be filed on or before the 15th day of the succeeding taxable year.
(m) Declaration of unincorporated business under a disability. (Administrative Code, § 11-511(i)). The declaration of estimated tax for an unincorporated business which is unable to make a declaration by reason of a disability shall be made and filed by the committee, fiduciary or other person charged with the care of the property of such unincorporated business (other than a receiver in possession of only a part of such property), or by his duly authorized agent.
(a) General. (Administrative Code, § 11-512(a)). The amount of estimated unincorporated business tax due as shown on a declaration of estimated unincorporated business tax (Form NYC-5UBTI or Form NYC-5UB) may be paid in installments or, at the election of the taxpayer, may be paid in full at the time of filing the declaration. If the estimated tax is paid in installments, the first installment payment must accompany the declaration. In the case of a declaration for a calendar year, the initial installment payment and the subsequent installment payments required are as follows:
Date of filing declaration | Dates of installment payments |
(1) On or before April 15 | In four equal installments – first at time of filing declaration (on or before April 15), second on or before June 15, third on or before September 15, and fourth on or before January 15 of the succeeding taxable year. |
(2) After April 15 and before June 16, if not required to be filed on or before April 15 | In three equal installments – first at time of filing declaration, second on or before September 15, and third on or before January 15 of the succeeding taxable year. |
(3) After June 15 and before September 16,if not required to be filed on or before June 15 | In two equal installments – first at time of filing declaration, and second on or before January 15 of the succeeding taxable year. |
(4) After September 15, if not required to be filed on or before September 15 | In full at time of filing declaration. |
(5) If a declaration is filed after the time prescribed in 19 RCNY § 28-15(d), or within any extension of time or after the expiration of any extension of time, then paragraphs (2), (3) and (4) of this subdivision (a) shall not apply, and there shall be paid at the time of filing all installments of estimated unincorporated business tax which would have been payable at or before such time if the declaration had been filed at the time prescribed in 19 RCNY § 28-15(d). The remaining installments shall be paid at the time and in the amounts in which they would have been payable if the declaration had been filed at the time prescribed in 19 RCNY § 28-15(d). Thus, for example, B, required to file a declaration of estimated unincorporated business tax on or before April 15, 1983, files the declaration for 1983 on September 18, 1983. In such case, at the time of filing the declaration, B was delinquent in the payment of three installments of the estimated unincorporated business tax for the taxable year 1983. Hence, upon filing the declaration of September 18, 1983, three-fourths of the estimated tax shown thereon must be paid.
(b) Estimated tax payments by an unincorporated business having estimated unincorporated business income from farming or total estimated unincorporated business tax of $40 or less. Where an unincorporated business defers the filing of a declaration of estimated unincorporated business tax to January 15 of the succeeding taxable year as provided in 19 RCNY § 28-15(e) and (f), the estimated tax due shall be paid in full at the time of filing such declaration.
(c) Amendments of declaration. (Administrative Code, § 11-512(b)). If any amendment of a declaration is filed, the remaining installments, if any, shall be ratably increased or decreased (as the case may be) to reflect any increase or decrease in the estimated tax by reason of such amendment, and if any amendment is made after September 15 of the taxable year, any increase in the estimated tax by reason thereof shall be paid at the time of making such amendment.
(d) Short taxable years. (Administrative Code, § 11-512(c)). In the case of a short taxable year of an unincorporated business for which a declaration is required to be filed, the estimated unincorporated business tax may be paid in equal installments, one at the time of filing the declaration, one on the 15th day of the sixth month of the taxable year and another on the 15th day of the ninth month of such year (unless the short taxable year closed prior to such sixth or ninth month, in which case the respective installment will be eliminated and the remaining installments increased proportionately) and on the 15th day of the first month of the succeeding taxable year. For example, if the short taxable year is the period of 10 months from January 1, 1983 to October 31, 1983, and the declaration is required to be filed on or before April 15, 1983, the estimated tax is payable in four equal installments, one on the date of filing the declaration, and one each on June 15, September 15 and November 15, 1983. If, in such a case, the declaration is required to be filed after April 15 but on or before June 15, the tax will be payable in three equal installments, one on the date of filing the declaration, and one each on September 15 and November 15, 1983.
(e) Fiscal years. (Administrative Code, § 11-512(d)). In the case of an unincorporated business on a fiscal year basis, the dates prescribed for payments of the estimated unincorporated business tax shall be the 15th day of the fourth month, the 15th day of the sixth month, the 15th day of the ninth month of the taxable year, and the 15th day of the first month of the succeeding taxable year. For example, if an unincorporated business, having a fiscal year ending on June 30, 1983, first meets the requirements for filing a declaration on January 15, 1983 (i.e., the seventh month) and the declaration is filed on or before March 15, 1983, (i.e., the ninth month), the tax may be paid in two equal installments, one at the time of filing of such declaration and the other on or before July 15, 1983 (i.e., the first month of the succeeding taxable year).
(f) Installments paid in advance. (Administrative Code, § 11-512(e)). At the election of the taxpayer, any installment of estimated unincorporated business tax may be paid prior to the date prescribed for its payment.
(g) Application of installment payments. The payment of any installment of estimated unincorporated business tax (including the amount of any overpayment on a return for a preceding taxable year which the taxpayer elects to have applied in payment of estimated tax due for the succeeding taxable year) shall be considered payment on account for the taxable year for which the declaration is made. An election to credit an overpayment to estimated unincorporated business tax for the succeeding year cannot be changed after the date prescribed for filing the unincorporated business tax return.
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