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10836: NY - Filing a Corporate Return Extension


New York

How do I file an extension for a New York corporate return (based on a federal 1120)?

 

New York does not recognize a federal extension. If you cannot meet the filing deadline for a NY business return, you should request a six-month extension of time by filing Form CT-5, Request for Six-Month Extension to File (For Franchise/Business Taxes, MTA Surcharge, or Both), on or before the due date of the return. The full amount of tax is due on the original due date of the return, regardless of any extension.

You may request up to two additional extensions by filing Form CT-5.1, Request for Additional Extension of Time to File (For Franchise/Business Taxes, MTA Surcharge, or Both). File it on or before the expiration date of the original extension or previously filed additional extension.

The CT-5 and CT-5.1 are available from NY screen EXT. The form can be printed and paper filed, or it can be e-filed separately from the federal 7004 extension.

To apply for an extension:

  1. Complete the EXT screen (on the Other tab).
  2. Select one of the following from the drop list for Generate an Extension:
    • 1 – CT-5 Extension of Time to File
    • 2 – CT-5.1 First Additional Extension of Time to File
    • 3 – CT-5.1 Second Extension of Time to File
    • 4 – Neither (Do not generate Form CT-5 or CT-5.1)

    Note: The CT-5.1 requires an explanation at the bottom of the screen.

  1. Check the appropriate box to indicate what forms the extension request is for. Check CT-3 or CT-3-M.
  2. Complete the applicable sections Estimated Franchise Surcharge and Estimated MTA Surcharge.
    Note: The two Amount paid with extension…. fields should not be entered before the extension request is filed. An amount entered in either field carries to the main return and suppresses the extension form. Use these fields only when you are preparing the main return and therefore want the extension payment included there and don’t want the extension form to be printed.
  3. Arrange payment using the PMT screen to set up a direct payment.
  4. From the federal PIN screen, click the link New York e-File and Direct Debit Authorization and check the first box to authorize e-file and the second box to authorize direct debit of the extension. These are NY requirements. If you paper file, see the CT-5 instructions.
  5. Select the extension on the EF screen
    1. under States/cities to e-file select NY EXT, and any other state forms that apply
    2. also select either Federal 7004 Only or Do NOT send Federal under Federal E-File Override.
  6. Confirm your choices. The extension should appear on the 1120EF page in view, and also in the EF Documents column on the EF Return Selector when you select the return for e-filing (EF > Select Returns for EF).

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