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Instructions for Form NYC-4S - 2022 Page 5
officers, as deducted on the federal return plying the result by 12. Once this annualized d) The total of the additional charges in aand c
and reported in Schedule D, line 2. For amount is calculated (do not replace your NYC may not exceed 5% for any one month except
taxable years beginning after 6/30/99, no receipts on Line 4 with this annualized amount) as provided for in b.
portion of officers’ compensation is added use the table above to determine the fixed dollar
back unless the officer is also a more than minimum tax based on the annualized amount. If you claim not to be liable for these additional
5% shareholder. The resulting fixed dollar minimum tax may be charges, attach a statement to your return explain-
reduced for short periods as indicated below. ing the delay in filing, payment or both.
In determining whether a stockholder owns Enter the reduced amount on line 4 (If applicable).
more than 5% of the issued capital stock, LINE 11c - PENALTY FOR
include all classes of voting and nonvoting PERIOD REDUCTION UNDERPAYMENT OF ESTIMATED TAX
A penalty is imposed for failure to file a declara-
stock, issued and outstanding. Not more than 6 months.................................50%
tion of estimated tax or for failure to pay the entire
LINE 4 More than 6 months (For
but not more than 9 months ...........................25% installment payment of estimated tax due.
Enter $40,000. (If the return does not cover more information, refer to Form NYC-222,
an entire year, the exclusion must be prorat- More than 9 months......................................None Underpayment of Estimated Tax by Corporations.)
ed based on the period covered by the If you underpaid your estimated tax, use Form
return.) LINE 6b - FIRST INSTALLMENT NYC-222 to compute the penalty. Attach Form
PAYMENT NYC-222. If no penalty is due, enter “0” on line
LINE 6 Do not use this line if an application for automatic 11c.
Pursuant to NYC Administrative Code § 11- extension (NYC-EXT) has been filed. The payment
604(1)(H)(c) as added by Chapter 491 of the of the amount shown at line 6b is required as pay- LINE 15 - TOTAL REMITTANCE DUE
Laws of 2007, the amount on Line 5 is mul- ment on account of estimated tax for the 2023 calen- NYC DEPARTMENT OF FINANCE
tiplied by 15% for tax years beginning on or dar year, if a calendar year taxpayer, or for the taxable If the amount on line 9 is greater than zero or the
after January 1, 2010. year beginning in 2023, if a fiscal year taxpayer. amount on line 13 is less than zero, enter on line
15 the sum of line 9 and the amount, if any, by
LINE 4 - MINIMUM TAX LINE 8 - PREPAYMENTS
which line 12 exceeds the amount on line 10. If
Enter the New York City Gross Receipts and Enter the sum of all estimated tax payments made
filing and paying electronically, enter the amount
Minimum Tax amount from the following table. for this tax period, the payments made with the
of your remittance on Line A. If not paying elec-
The amount of New York City receipts for this extension request, if any, and both the carryover
tronically, leave Line A blank.
purpose is the total amount of all receipts the tax- credit and the first installment recorded on the prior
payer has received in the regular course of busi- tax period’s return. This figure should be obtained All remittances must be payable in U.S. dollars
ness from such sources as sales of personal prop- from the completed Composition of Prepayments drawn on a U.S. bank. Checks drawn on foreign
erty, services performed, rentals of property and Schedule on page 2 of Form NYC-4S. banks will be rejected and returned. Remittance
royalties. This receipts amount would be the same must be made payable to the order of:
Form NYC-3L, Schedule H, Column A, Line 6 if If the tax is not paid on or before the due date
as the amount that would have to be shown on LINE 11a - LATE PAYMENT / INTEREST NYC Department of Finance
the taxpayer had filed Form NYC-3L. (determined without regard to any extension of LINE 16 - RENT DEDUCTED
time), interest must be paid on the amount of the ON FEDERAL RETURN
For taxpayers who use Form NYC-4S, and, underpayment from the due date to the date paid. Enter on this line total rent paid on business prem-
accordingly, allocate 100 percent of their income to For information as to the applicable rate of inter- ises located inside New York City and deducted
the City, the amount of receipts used for this pur- est, see the Finance website at nyc.gov/finance or on federal return.
pose is the total amount of all receipts the taxpay- call 311. If calling from outside of the five NYC
er has received in the regular course of business. boroughs, please call 212-NEW-YORK (212-639- SCHEDULE B
9675). Computation of New York City Taxable Income
TABLE - FIXED DOLLAR MINIMUM TAX
For a corporation with New York City receipts LINE 11b - LATE PAYMENT OR LATE LINE 1 -FEDERAL TAXABLE INCOME
FILING/ADDITIONAL CHARGES S Corporations and qualified subchapter S
of: a) Alate filing penalty is assessed if you fail to subsidiaries (QSSS) must file as ordinary cor-
Not more than $100,000:.................................$25 file this form when due, unless the failure is porations. Federal S Corporation taxpayers
More than $100,000 due to reasonable cause. For every month or must complete form NYC-ATT-S-CORP,
but not over $250,000: ....................................$75 partial month that this form is late, add to the Calculation of Federal Taxable Income for S
More than $250,000 tax (less any payments made on or before the Corporations and include it with their GCT
but not over $500,000: ..................................$175 due date) 5%, up to a total of 25%. Form 3L, 4S or 4S-EZ.
More than $500,000 b) If this form is filed more than 60 days late, For tax years beginning on or after August 1,
but not over $1,000,000: ...............................$500 the above penalty will not be less than the 2002, corporations that are partners in partner-
More than $1,000,000 lesser of (1) $100 or (2) 100% of the amount ships that receive at least eighty percent of their
but not over $5,000,000: ............................$1,500 required to be shown on the form (less any gross receipts from providing mobile telecom-
More than $5,000,000 payments made by the due date or credits munications services must exclude their distribu-
claimed on the return). tive share of income, gains, losses and deduc-
but not over $25,000,000: ..........................$3,500 tions from any such partnership, including their
Over $25,000,000:......................................$5,000 c) A late payment penalty is assessed if you share of separately reported items, from their
fail to pay the tax shown on this form by the federal taxable income reported on line 1.
SHORT PERIODS - FIXED DOLLAR prescribed filing date, unless the failure is
MINIMUM TAX due to reasonable cause. For every month or NOTE:
Compute the New York City receipts for short partial month that your payment is late, add The charitable contribution deduction from fed-
periods (tax periods of less than 12 months) by to the tax (less any payments made) 1/2%, up eral Form 1120S, Schedule K, line 12a may not
dividing the amount of New York receipts by the to a total of 25%. exceed 10% of the sum of lines 1 through 12d
number of months in the short period and multi-
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