Corporation tax forms corrections and changes for 2021 (Articles 9, 9-A, 13, and 33)
The following changes were not reflected on the forms for 2021 when they went to print.
If any of the following updates impact a tax form that you are responsible for filing, and you have not yet filed such form, you must incorporate these updates when filing such form.
If you have already filed such form, and one of the following updates affects a calculation previously reported, you must file an amended form reflecting such update.
Select a tax form from the following list to identify the changes affecting that form. If a form is not listed, there have been no changes affecting that form.
On page 1, 2nd column, 3rd paragraph should read as follows:
Estimated tax for corporate partners means a corporate partner’s distributive share of the partnership’s income derived from New York sources for the year, multiplied by the highest rate of tax under Tax Law section 210(1)(a) for the year (7.25% for 2021), and reduced by the corporate partner’s distributive share of any allowable credits from the partnership.
On page 2, Estimated tax worksheet, line 2 should read as follows:
2. Multiply line 1 by 7.25% (.0725)