New York C-Corporation Tax Extensions
New York State C-Corporation tax returns (Form CT-3) are due within 3½ months following the end of your reporting period. For calendar year filers, this deadline is April 15. If you cannot file by that date, you can apply for a New York tax extension.
A New York State business extension will give a corporation 6 additional months to file its return.
To apply for a New York C-Corporation tax extension, use New York Form CT-5 (Request for Six-Month Extension to File). You must file Form CT-5 and pay your estimated New York tax balance by the original deadline of your return (April 15) in order for your extension to be approved. To make an extension payment, use New York Form CT-200-V (Payment Voucher for E-Filed Corporation Tax Returns and Extensions).
New York State allows for additional extensions beyond the initial 6 month extension with the filing of Form CT-5.1. A corporation taxable under Article 9 with a valid three-month extension is limited to three additional three-month extensions. A corporation taxable under Article 9-A (C-Corps), 13 (Miscellaneous Corps), or 33 (Insurance Companies) with a valid six-month extension is limited to two additional three-month extensions. A separate Form CT-5.1 is required for each additional three-month extension.
New York S-Corporation Tax Extensions
New York S-Corporation tax returns (Form CT-3-S) are due within 2½ months following the end of your reporting period. For calendar year filers, this deadline is March 15. To apply for a New York S Corporation tax extension, file Form CT-5.4 (Request for Six-Month Extension to File New York S Corporation Franchise Tax Return).
Please note that New York State S-Corporations may not use Form CT-5.1 to request an additional extension of time beyond six months. New York does not grant S-Corp extensions beyond the 6 month initial extension.
New York Limited Liability Company Tax Extensions / New York Partnership Tax Extensions
New York Limited Liability Companies (LLC's) are treated as partnerships. File New York Form IT-204 by the 15th day of the 3rd month following the close of your tax year. If you are unable to file your New York Partnership Return on time you may apply for a New York Partnership tax extension (LLC's) by filing New York Form IT-370-PF. LLC's that have made an S corporation election for federal income tax purposes are treated as S Corporations in New York. and should file New York Form CT-5.4 as described above.
Note that most corporations are required to file their New York tax extension electronically through the Department of Taxation and Finance. If you cannot file electronically, you can call (518) 457-5431 to request paper versions of Form CT-5 and Form CT-200-V. To e-file your extension and e-pay your estimated tax, go to New York’s Online Services for Businesses: www.tax.ny.gov/online/bus
A tax extension does not give you more time to pay your New York tax due. To avoid interest and penalties, your state tax balance must be paid by the original deadline (March 15).
For more information, please visit the New York State Department of Taxation and Finance website: www.tax.ny.gov
Form CT-5, Instructions (Request for Six-Month Extension to File): www.tax.ny.gov/pdf/current_forms/ct/ct5i.pdf
Form CT-5 (Request for Six-Month Extension to File): Must be filed electronically through the NY Department of Taxation and Finance website, or you can call to request a paper version
Form CT-200-V (Payment Voucher for E-Filed Corporation Tax Returns and Extensions): Must be filed electronically through the NY Department of Taxation and Finance website, or you can call to request a paper version
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The rules and regulations for business tax extensions are different in every state. Some states will automatically grant you a state tax extension if you obtain a valid Federal extension — but other states require a separate state-specific application. For state-by-state information about filing tax extensions, please visit our State Tax Extensions center.
If your company maintains financial books/records, you can determine your current tax liability if you multiply your taxable income by the applicable tax rate. Many people simply use their numbers from last year’s tax return (as long as your tax situation is relatively similar). Remember to reduce your current tax balance by the amount of tax that was withheld (or paid via estimated tax payments), if any, during the year.
Yes. You can get more time to file for an estate or trust by submitting IRS Form 7004 for a business tax extension. An extension will give you 5 extra months to file Form 1041 (U.S. Income Tax Return for Estates and Trusts). During TaxExtension.com’s online application process, you will have the option of choosing “Estate” or “Trust” for your business entity type.
It depends on what type of LLC you have. For Federal income tax purposes, a multi-member LLC is classified as a “partnership” by default (unless it specifically elects to be treated as a corporation). A multi-member LLC classified as a partnership should request a business tax extension (IRS Form 7004) to get 5 extra months to file. A multi-member LLC classified as a corporation should also request a business tax extension, which provides 6 extra months to file a corporation return. On the other hand, a single-member LLC is classified as a “disregarded entity” by default (unless it specifically elects to be treated as a corporation). When a single-member LLC is treated as a disregarded entity, that means its activities are reported on the owner’s individual income tax return (Form 1040). So if you have a single-member LLC, you only need one (1) personal tax extension (IRS Form 4868) to cover yourself and your business, which gives you 6 extra months to file your return.
Independent contractors (Form 1099), sole proprietors (Form 1040 Schedule C), and single-member LLCs that report their business activities on their personal tax return (IRS Form 1040) should request a personal tax extension — not a business extension. For these taxpayers, a personal extension (IRS Form 4868) will cover both themselves and their business. If you have a different type of business, such as a partnership or S-corporation, you should file IRS Form 7004 for a business tax extension.
An IRS tax extension will give a business 5 or 6 extra months (depending on the type of business entity) to file its Federal income tax return. A business tax extension grants 5 more months to file: Form 1041, Form 1065, and Form 8804. A business tax extension grants 6 more months to file: Form 706-GS(D), Form 706-GS(T), Form 1041 (bankruptcy estate only), Form 1041-N, Form 1041-QFT, Form 1042, Form 1065-B, Form 1066, Form 1120, Form 1120-C, Form 1120-F, Form 1120-FSC, Form 1120-H, Form 1120-L, Form 1120-ND, Form 1120-ND (section 4951 taxes), Form 1120-PC, Form 1120-POL, Form 1120-REIT, Form 1120-RIC, Form 1120S, Form 1120-SF, Form 3520-A, Form 8612, Form 8613, Form 8725, Form 8831, Form 8876, Form 8924, and Form 8928. Our easy-to-use online application makes it easy for you to select the correct business entity type. If you are unsure which business tax return is required for your business, TaxExtension.com will help you figure it out.
Most partnerships and multi-member LLCs are required to file a separate income tax return, which means you will need a business extension to cover your business tax return, plus a personal extension to cover your personal tax return. On the other hand, a single-member LLC is classified as a “disregarded entity” (or “pass-through entity”), which means the business activities are reported on the owner’s personal tax return. In that case, you would only need a personal tax extension to cover both you and your business.
If you file a separate tax return for your business and you’re required to provide the business’ EIN (employer identification number) on the return, you should also provide the EIN on your tax extension request. Note that most businesses are required to obtain an EIN, which the IRS uses to identify a business entity. However, if you have a single-member LLC — which is considered a “pass-through entity” (or “disregarded entity”) — you should use your SSN (Social Security Number) instead of an EIN. Pass-through entities are reported as part of the owner’s personal tax return, which means you only need one (1) personal tax extension (IRS Form 4868) to cover both yourself and your business.
Corporations are granted a 6-month tax extension, which moves their filing deadline from March 15 to September 15. Trusts, certain estates, most partnerships, and some multi-member LLCs are granted a 5-month tax extension, which moves their filing deadline from April 15 to September 15.
In most cases, you will hear back from the IRS within 24 hours of submitting your business tax extension online. However, it’s important to note that IRS response times will be longer than normal on the last day of filing (March 15 and April 15). As soon as your business extension is approved by the IRS, you will receive an email from TaxExtension.com with the details of your extension, including your official IRS confirmation number.
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