Author Topic: Corporation Tax - NY  (Read 416 times)

Offline SwellCindy

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Corporation Tax - NY
« on: May 11, 2020, 02:42:48 AM »
Ouch.

Just remembered I owe Corp Tax for Q1 2020, it's definitely State or City (I think General). Anyone have any DP on whether penalties & interest will be waived due to current situation? All info I've come across relates to Federal Income Tax deadlines having been extended to July 15, didn't get much clarity re State or Local Business Tax post Apr. 25.

Paging @cgr , your expertise is appreciated.

Offline cgr

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Re: Corporation Tax - NY
« Reply #1 on: May 11, 2020, 09:30:29 AM »
Ouch.

Just remembered I owe Corp Tax for Q1 2020, it's definitely State or City (I think General). Anyone have any DP on whether penalties & interest will be waived due to current situation? All info I've come across relates to Federal Income Tax deadlines having been extended to July 15, didn't get much clarity re State or Local Business Tax post Apr. 25.

Paging @cgr , your expertise is appreciated.

Assuming you mean estimated taxes for 2020, see here: https://www.tax.ny.gov/help/calendar/general-taxcalendar-2020.htm
including installments of estimated taxes for the 2020 tax year, will not be subject to any failure to file, failure to pay, late payment, or underpayment penalties, or interest if filed and paid by July 15, 2020.

Offline SwellCindy

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Re: Corporation Tax - NY
« Reply #2 on: May 11, 2020, 11:11:20 AM »
Thank you.
Wasn't sure that State Tax includes city, assuming it does from your response. Much appreciated!