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Instructions for Form NYC-4S-EZ - 2022 Page 5
6 if the taxpayer had filed Form NYC-3L and LINE 9a banks will be rejected and returned. Remittance
completed that schedule. LATE PAYMENT / INTEREST must be made payable to the order of:
If the tax is not paid on or before the due date
NYC DEPARTMENT OF FINANCE
For taxpayers who use Form NYC-4S-EZ, and, (determined without regard to any extension of
accordingly, allocate 100 percent of their income time), interest must be paid on the amount of the Attach a copy of all pages of your federal form
to the City, the amount of receipts used for this underpayment from the due date to the date paid. 1120S.
purpose is the total amount of all receipts the tax- For information as to the applicable rate of inter-
SCHEDULE B, LINE 1
payer has received in the regular course of busi- est, see the Finance website at nyc.gov/finance or
FEDERAL TAXABLE INCOME
ness. call 311. If calling from outside of the five NYC
S Corporations and qualified subchapter S
TABLE - FIXED DOLLAR MINIMUM TAX boroughs, please call 212-NEW-YORK (212-639-
subsidiaries (QSSS) must file as ordinary cor-
For a corporation with New York City receipts 9675).
porations. Federal S Corporation taxpayers
of: LINE 9b - LATE PAYMENT OR LATE must complete form NYC-ATT-S-CORP,
FILING/ADDITIONAL CHARGES Calculation of Federal Taxable Income for S
Not more than $100,000:.................................$25 late filing penalty is assessed if you fail to Corporations and include it with their GCT
a) A
More than $100,000 Form 3L, 4S or 4S-EZ.
file this form when due, unless the failure is
but not over $250,000: ....................................$75 due to reasonable cause. For every month or
NOTE:
More than $250,000 partial month that this form is late, add to the
The charitable contribution deduction from fed-
but not over $500,000: ..................................$175 tax (less any payments made on or before the
eral Form 1120S, Schedule K, line 12a may not
More than $500,000 due date) 5%, up to a total of 25%.
exceed 10% of the sum of lines 1 through 12d
but not over $1,000,000: ...............................$500 b) If this form is filed more than 60 days late, (other than line 12a) of Schedule K, subject to
More than $1,000,000 the above penalty will not be less than the any exception provided in the IRC with respect
but not over $5,000,000: ............................$1,500 lesser of (1) $100 or (2) 100% of the amount to C corporations.
More than $5,000,000 required to be shown on the form (less any
but not over $25,000,000: ..........................$3,500 payments made by the due date or credits Corporations that are partners in partnerships
that receive at least eighty percent of their gross
Over $25,000,000:......................................$5,000 claimed on the return).
receipts from providing mobile telecommunica-
c) A late payment penalty is assessed if you
tions services must exclude their distributive
SHORT PERIODS - FIXED DOLLAR fail to pay the tax shown on this form by the
share of income, gains, losses and deductions
MINIMUM TAX prescribed filing date, unless the failure is
from any such partnership, including their share
Compute the New York City receipts for short due to reasonable cause. For every month or
of separately reported items, from their federal
periods (tax periods of less than 12 months) by partial month that your payment is late, add
taxable income reported on line 1.
dividing the amount of New York City receipts by to the tax (less any payments made) 1/2%, up
the number of months in the short period and mul- to a total of 25%. LINE 2
tiplying the result by 12. Once this annualized
amount is calculated (do not replace your NYC d) The total of the additional charges in aand c STATE AND LOCAL INCOME TAXES
receipts on Line 2 with this annualized amount) may not exceed 5% for any one month except DEDUCTED ON FEDERAL RETURN
use the table above to determine the fixed dollar as provided for in b. The amount deducted on your federal return for
income taxes paid or accrued to any state, any
minimum tax based on the annualized amount. If you claim not to be liable for these additional political subdivision of a state or to the District of
The resulting fixed dollar minimum tax may be charges, attach a statement to your return explain- Columbia, if they are on or measured by profits
reduced for short periods as indicated below. ing the delay in filing, payment or both. or income or include profits or income as a meas-
Enter the reduced amount on line 2 (If applicable).
ure of tax, including taxes expressly in lieu of any
LINE 9c - PENALTY FOR
PERIOD REDUCTION of the foregoing taxes. Include the New York
UNDERPAYMENT OF ESTIMATED TAX State Metropolitan Transportation business tax
Not more than 6 months.................................50% A penalty is imposed for failure to file a declara- surcharge, the amount of MTA payroll tax (Tax
More than 6 months but tion of estimated tax or for failure to pay the entire Law, Art. 23) and the amount of New York City
not more than 9 months..................................25% installment payment of estimated tax due. (For General Corporation Tax and Banking
More than 9 months......................................None more information, refer to Form NYC-222, Corporation Tax deducted on your federal return.
Underpayment of Estimated Tax by Do not include pass through entity taxes, includ-
LINE 4b Corporations.) If you underpaid your estimated ing the NYS PTET and NYC PTET on this line.
FIRST INSTALLMENT PAYMENT tax, use Form NYC-222 to compute the penalty. Taxpayers are required to file the NYC 3L
Do not use this line if an application for automat- Attach Form NYC-222. If no penalty is due, enter instead of the NYC 4S EZ if they are required to
ic extension (NYC-EXT) has been filed. The pay- “0” on line 11c. add back any pass through entity taxes when cal-
ment of the amount shown at line 4b is required as
payment on account of estimated tax for the 2023 LINE 13 culating entire net income.
calendar year, if a calendar year taxpayer, or for TOTAL REMITTANCE DUE LINE 4
the taxable year beginning in 2023, if a fiscal year NYC DEPARTMENT OF FINANCE NET OPERATING LOSS
taxpayer. If the amount on line 7 is greater than zero or the Enter New York City net operating loss carryfor-
amount on line 11 is less than zero, enter on line ward from prior years. A deduction may only be
LINE 6 13 the sum of line 7 and the amount, if any, by claimed for net operating losses sustained in tax-
PREPAYMENTS which line 10 exceeds the amount on line 8. If fil- able years during all or part of which the corpo-
Enter the sum of all estimated tax payments made ing and paying electronically, enter the amount of ration was subject to the General Corporation
for this tax period, the payments made with the your remittance on Line A. If not paying electron- Tax. New York City allows net operating losses
extension request, if any, and both the carryover ically, leave Line A blank. to be used in the same manner as provided by
credit and the first installment recorded on the All remittances must be payable in U.S. dollars Section 172 of the Internal Revenue Code. Note
prior tax period’s return. drawn on a U.S. bank. Checks drawn on foreign that according to the federal Tax Cuts and
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