![]() Enlarge image | PARTNERSHIP DECLARATION OF 2021 - 5UB ESTIMATED UNINCORPORATED BUSINESS TAX For CALENDAR YEAR 2021 or FISCAL YEAR beginning _________________ , _______ and ending __________________ , ________ t Business name Name Employer Identification Number Change n In Care of Print or Type Business address (number and street) Address t Change n Business Code Number as per Federal Return City and State Zip Code Country (if not US) Business Telephone Number Taxpayer’s Email Address Payment Amount A. Payment Amount included with form - Make payable to: NYC Department of Finance..A. 1. Estimate of 2021 tax............................................................................................................................ 1. 2. Amount to be paid with this declaration (Payable to: NYC DEPARTMENT OF FINANCE)................................. 2. Signature of taxpayer: _________________________________________________________________________ Title: ______________________________________ Date: ____________________________ To receive proper credit, you must enter your correct Employer Identification Number on your declaration and remittance. DETACH ON DOTTED LINE & MAIL UPPER PORTION. RETAIN LOWER PORTION FOR YOUR RECORDS ESTIMATED TAX WORKSHEET t KEEP THIS PORTION FOR YOUR RECORDS t 1. Net income from business expected in 2021 (see instructions) .................................................................... 1. 2. Exemption (see instructions)......................................................................................................................................................... 2. 3. Line 1 less line 2 (estimated taxable business income) ............................................................................... 3. 4. Tax - enter 4% of line 3 (see instructions) ................................................................................................................................ 4. 5a. Business Tax Credit (4) (Check applicable box below and enter credit amount) q Tax on line 4 is $3,400 or less. Your credit is the entire amount of tax on line 4. q Tax on line 4 is $5,400 or over. No credit is allowed. Enter "0". q Tax on line 4 is over $3,400 but less than $5,400, use formula for credit amount: Tax on line 4 x ($5,400 minus tax on line 4) ................................................................5a. $2,000 5b. Other credits (see instructions) ..........................................................................................5b. 5c. Total credits (add lines 5a and 5b) ...................................................................................................................................... 5c. 6. Estimated 2021 Unincorporated Business Tax (line 4 less line 5c) Enter here, on line 7b, and on line 1 of declaration above .......................................................................................................... 6. 7a. Partnership's 2020 Unincorporated Business Tax 7a. 7b. Estimate of 2021 tax from line 6....7b. COMPUTATION OF INSTALLMENT -(4) Check proper box below and enter amount indicated. Fiscal year taxpayers see instructions. 8. If this declaration n April 15, 2021, enter 1/4 of line 7b n Sept. 15, 2021, enter 1/2 of line 7b ............ is due on: n June 15, 2021, enter 1/3 of line 7b n Jan. 18, 2022, enter amount of line 7b...} 8. 9. Enter amount of overpayment on 2020 return which you elected to have applied as a credit against 2021 estimated tax. 9. 10. Amount to be paid with this declaration (line 8 less line 9) (Payable to: NYC DEPARTMENT OF FINANCE).10. MAILING INSTRUCTIONS Make remittance payable to the order of: MAIL YOUR DECLARATION FORM TO: NYC DEPARTMENT OF FINANCE NYC DEPARTMENT OF FINANCE Payment must be made in U.S. dollars, UNINCORPORATED BUSINESS TAX drawn on a U.S. bank. P. O. BOX 3923 NEW YORK, NY 10008-3923 NYC-5UB 2021 |
![]() Enlarge image | Form NYC-5UB - 2021 - Instructions Page 2 NOTE why an additional charge should not be made. If any due date falls on Saturday, Sunday or legal holiday, filing will be timely if made by the next day which is not a Saturday, Sunday or holiday. PENALTIES The law imposes penalties for failure to make a declaration or pay estimated tax due or for PURPOSE OF DECLARATION making a false or fraudulent declaration or certification. This declaration form provides a means of paying Unincorporated Business Tax on a current basis for partnerships, joint ventures and similar entities (other than individuals, estates and FISCAL YEAR TAXPAYERS trusts) engaged in carrying on an unincorporated business or profession, as defined in Sec- In the case of a partnership that files its Unincorporated Business Tax Return on a fiscal year tion 11-502 of the Administrative Code. Individuals, estates and trusts use Form NYC-5UBTI basis, substitute the corresponding fiscal year months for the months specified in the in- for filing their declarations. structions. For example, if the fiscal year begins on April 1, 2021, the Declaration of Esti- Every unincorporated business must file an income tax return after the close of its taxable year mated Unincorporated Business Tax will be due on July 15, 2021, together with payment of and pay any balance of tax due. If the tax has been overpaid, adjustment will be made only first quarter estimated tax. In this case, equal installments will be due on or before Septem- ber 15, 2021, December 15, 2021, and April 15, 2022. after the return has been filed. WHO MUST MAKE A DECLARATION CHANGES IN INCOME A 2021 declaration must be made by every partnership carrying on an unincorporated busi- Even though on April 15, 2021, a partnership does not expect its unincorporated business tax ness or profession in New York City if its estimated tax (line 6 of tax computation schedule) to exceed $3,400, a change in income, allocation or exemption may require that a declaration can reasonably be expected to exceed $3,400 for the calendar year 2021 (or, in the case of a be filed later. In this event the requirements are as follows: fiscal year taxpayer, for the partnership fiscal year beginning in 2021). File Amount of Installment WHEN AND WHERE TO FILE DECLARATION If requirement for filing occurs: declaration estimated payment You must file the declaration for the calendar year 2021 on or before April 15, 2021, or on by: tax due dates after ............................but before theMail applicableyour declarationlater datesformspecifiedwithinorthesewithoutinstructions.remittance to: April 1, 2021 ................June 1, 2021 June 15, 2021 1/3 (1) June 15, 2021 NYC Department of Finance ....................................... (2) Sept. 15, 2021 Unincorporated Business Tax ....................................... (3) Jan. 15, 2022 P. O. Box 3923 June 1, 2021 ..................Sept. 1, 2021 Sept. 15, 2021 1/2 (1) Sept. 15, 2021 New York, NY 10008-3923 ....................................... (2) Jan. 15, 2022 Fiscal year taxpayers, read instructions opposite regarding filing dates. Sept. 1, 2021..................Jan. 1, 2022 Jan. 18, 2022 100% None HOW TO ESTIMATE UNINCORPORATED BUSINESS TAX The worksheet on the front of this form will help you in estimating the tax for 2021. If the partnership files its 2021 Unincorporated Business Tax Return by February 16, 2022, and pays the full balance of tax due, it need not: (a) file an amended declaration or an origi- LINE 1 - nal declaration otherwise due for the first time on January 18, 2022, or (b) pay the last in- The term “net income from business expected in 2021” means the amount the partnership es- stallment of estimated tax otherwise due and payable on January 18, 2022. timates to be its income for 2021 computed before the specific exemption. Refer to Sched- ule A, line 14 of the 2020 Partnership Return (Form NYC-204) and related instructions. CAUTION LINE 2 - EXEMPTION An extension of time to file your federal tax return or New York State partnership informa- The amount of the allowable exemption may be determined by referring to the instructions tion return does NOT extend the filing date of your New York City tax return. for the 2020 Form NYC-204, Schedule A, line 15. NOTE LINE 4 - UNINCORPORATED BUSINESS TAX Filing a declaration or an amended declaration, or payment of the last installment on January If you expect to receive a refund or credit in 2021 of any sales or compensating use tax for 15, 2022, or filing a tax return by February 16, 2022, will not satisfy the filing requirements if which a credit was claimed in a prior year under Administrative Code Section 11-503 (k) the partnership failed to file or pay an estimated tax which was due earlier in the taxable year. (sales and use tax credit), the amount of the estimated refund or credit must be added to the ELECTRONIC FILING tax shown on line 4 of the tax computation schedule. Note: Register for electronic filing. It is an easy, secure and convenient was to file a declara- LINE 5b - OTHER CREDITS tion and an extension and pay taxes on-line. Enter on line 5b the amount estimated to be the sum of any credits allowable for 2021 under Administrative Code Sections 11-503(e) (real estate tax escalation credit), 11-503(f) (em- For more information log on to NYC.gov/eservices. ployment opportunity relocation costs credit), 11-503(i) (relocation and employment assis- tance program (REAP) credit, 11-503(j) (UBT paid credit), 11-503(l) (lower Manhattan REAP Credit), 11-503(n) (Industrial Business Zone Credit) and 11-503(p) (Beer Production Credit). (For additional details concerning these credits, refer to instructions for Forms NYC-114.5, NYC-114.6, NYC-114.7, NYC-114.8 and NYC-114.12.) Make remittance payable to NYC DEPARTMENT OF FINANCE. All remittances must be payable in U.S. dollars drawn on a U.S. bank. Checks drawn on foreign banks will be rejected and returned. A separate check for the declaration will expedite processing of the payment. AMENDED DECLARATION If, after a declaration is filed, the estimated tax increases or decreases because of a change in income, deductions, or allocation, you should file an amended declaration on or before the next date for payment of an installment of estimated tax. CHARGE FOR UNDERPAYMENT OF INSTALLMENTS OF ESTIMATED TAX A charge is imposed for underpayment of an installment of estimated tax for 2021. For in- formation regarding interest rates, call 311. If calling from outside of the five NYC bor- oughs, please call 212-NEW-YORK (212-639-9675). The Administrative Code follows provisions similar to the Internal Revenue Code with respect to underpayments of estimated tax. Form NYC-221 may be used to determine if any charge for underpayment is due or if any exceptions apply. If it appears that there was an underpayment of any installment of es- timated tax, a completed copy of Form NYC-221 may be attached to the return explaining To receive proper credit, you must enter your correct Employer Identification Number on your declaration and remittance. |