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Form NYC-5UB - 2009 - Instructions

Page 2

AMENDED DECLARATION

NOTE

If any due date falls on Saturday, Sunday or legal holiday, filing will be timely if made

If, after a declaration is filed, the estimated tax increases or decreases because of a change in

by the next day which is not a Saturday, Sunday or holiday.

income, deductions, or allocation, you should file an amended declaration on or before the

next date for payment of an installment of estimated tax. This is done by completing the

PURPOSE OF DECLARATION

amended schedule of the Notice of Estimated Tax Payment Due (Form NYC-B100). This no-

This declaration form provides a means of paying Unincorporated Business Tax on a current

tice will be automatically mailed to you.

basis for partnerships, joint ventures and similar entities (other than individuals, estates and

CHARGE FOR UNDERPAYMENT OF INSTALLMENTS OF ESTIMATED TAX

trusts) engaged in carrying on an unincorporated business or profession, as defined in Sec-

tion 11-502 of the Administrative Code. Individuals, estates and trusts use Form NYC-5UBTI

A charge is imposed for underpayment of an installment of estimated tax for 2009. For in-

for filing their declarations.

formation as to the applicable rate of interest, call Taxpayer Assistance at: (212) 504-4034.

The Administrative Code follows provisions similar to the Internal Revenue Code with re-

Every unincorporated business must file an income tax return after the close of its taxable year

spect to underpayments of estimated tax. Form NYC-221 may be used to determine if any

and pay any balance of tax due. If the tax has been overpaid, adjustment will be made only

charge for underpayment is due or if any exceptions apply. If it appears that there was an un-

after the return has been filed.

derpayment of any installment of estimated tax, a completed copy of Form NYC-221 may be

WHO MUST MAKE A DECLARATION

attached to the return explaining why an additional charge should not be made.

A 2009 declaration must be made by every partnership carrying on an unincorporated busi-

PENALTIES

ness or profession in New York City if its estimated tax (line 6 of tax computation schedule)

The law imposes penalties for failure to make a declaration or pay estimated tax due or for

can reasonably be expected to exceed $1,800 for the calendar year 2009 (or, in the case of a

making a false or fraudulent declaration or certification.

fiscal year taxpayer, for the partnership fiscal year beginning in 2009).

WHEN AND WHERE TO FILE DECLARATION

FISCAL YEAR TAXPAYERS

You must file the declaration for the calendar year 2009 on or before April 15, 2009, or on

In the case of a partnership that files its Unincorporated Business Tax Return on a fiscal year

the applicable later dates specified in these instructions.

basis, substitute the corresponding fiscal year months for the months specified in the in-

structions. For example, if the fiscal year begins on April 1, 2009, the Declaration of Esti-

- Declarations with remittances -

- All other declarations -

mated Unincorporated Business Tax will be due on July 15, 2009, together with payment of

NYC Department of Finance

first quarter estimated tax. In this case, equal installments will be due on or before Septem-

Unincorporated Business Tax

ber 15, 2009, December 15, 2009, and April 15, 2010.

P. O. Box 5070

P. O. Box 5080

Kingston, NY 12402-5070

Kingston, NY 12402-5080

CHANGES IN INCOME

Fiscal year taxpayers, read instructions opposite regarding filing dates.

Even though on April 16, 2008, a partnership does not expect its unincorporated business tax

to exceed $1,800, a change in income, allocation or exemption may require that a declaration

HOW TO ESTIMATE UNINCORPORATED BUSINESS TAX

be filed later. In this event the requirements are as follows:

The worksheet on the front of this form will help you in estimating the tax for 2009.

LINE 1 -

File

Amount of

Installment

If requirement for filing occurs:

declaration

estimated

payment

The term “net income from business expected in 2009” means the amount the partnership es-

by:

tax due

dates

timates to be its income for 2009 computed before the specific exemption. Refer to Sched-

after ............................but before

ule A, line 14 of the 2008 Partnership Return (Form NYC-204) and related instructions.

April 1, 2009 ................June 2, 2009

June 15, 2009

1/3

(1) June 15, 2009

LINE 2 - EXEMPTION

.......................................

(2) Sept. 15, 2009

The amount of the allowable exemption may be determined by referring to the instructions

.......................................

(3) Jan. 15, 2010

for the 2008 Form NYC-204, Schedule A, line 15.

June 1, 2009 ..................Sept. 2, 2009

Sept. 15, 2009

1/2

(1) Sept. 15, 2009

LINE 4 - UNINCORPORATED BUSINESS TAX

.......................................

(2) Jan. 15, 2010

If you expect to receive a refund or credit in 2009 of any sales or compensating use tax for

Sept. 1, 2009..................Jan. 1, 2010

Jan. 15, 2010

100%

None

which a credit was claimed in a prior year under Administrative Code Sections 11-503 (k)

(sales and use tax credit), the amount of the estimated refund or credit must be added to the

If the partnership files its 2009 Unincorporated Business Tax Return by February 16, 2009,

tax shown on line 4 of the tax computation schedule.

and pays the full balance of tax due, it need not: (a) file an amended declaration or an origi-

LINE 5b - OTHER CREDITS

nal declaration otherwise due for the first time on January 15, 2010, or (b) pay the last in-

Enter on line 5b the amount estimated to be the sum of any credits allowable for 2009 under

stallment of estimated tax otherwise due and payable on January 15, 2010.

Administrative Code Sections 11-503(e) (real estate tax escalation credit), 11-503(f) (em-

ployment opportunity relocation costs credit), 11-503(i) (relocation and employment assis-

CAUTION

tance program (REAP) credit, 11-503(j) (UBT paid credit), 11-503(l)(lower Manhattan REAP

An extension of time to file your federal tax return or New York State partnership informa-

Credit,) 11-503(m) (NYC Film Production Credit) and 11-503(n) (Industrial Business Zone

tion return does NOT extend the filing date of your New York City tax return.

Credit). (For additional details concerning these credits, refer to instructions for Forms NYC-

NOTE

114.5, NYC-114.6, NYC-114.7, NYC-114.8 and NYC-114.9.)

Filing a declaration or an amended declaration, or payment of the last installment on January

DECLARATION

15, 2010, or filing a tax return by February 16, 2010, will not satisfy the filing requirements if

On line 1a of the declaration (line 7a of the Estimated Tax Worksheet), enter the amount the

the partnership failed to file or pay an estimated tax which was due earlier in the taxable year.

partnership reported on line 25 of its 2008 Form NYC-204. On line 1b (line 7b of the Esti-

mated Tax Worksheet) enter the amount from line 6 of the tax computation schedule. This is

ELECTRONIC FILING

the amount the partnership estimates as its 2009 Unincorporated Business Tax liability.

Note: Register for electronic filing. It is an easy, secure and convenient way to file and pay an

extension on-line.

PAYMENT OF ESTIMATED TAX

Except as specified elsewhere in these instructions, the estimated tax on line 1b of the declara-

For more information log on to

tion is payable in equal installments on or before April 15, 2009, June 15, 2009, September 15,

2009 and January 15, 2009

The first installment payment must accompany the declaration.

However, the estimated tax may be paid in full with the declaration.

If there was an overpayment on the 2008 Partnership Tax Return and on line 32b of the NYC-

204 or line 13 of the NYC-204EZ you elected to have that overpayment applied as a credit

toward your 2009 estimated tax, enter the amount from line 32b of the NYC-204 or line 13

of the NYC-204EZ on line 3 of the declaration. (Line 9 of the Estimated Tax Worksheet)

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.

To receive proper credit, you must enter your correct Employer Identification Number on your declaration and remittance.

Form Nyc-5ub - Partnership Declaration Of Estimated Unincorporated Business Tax - 2009 Page 2

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