Form Nyc-5ubti - Declaration Of Estimated Unincorporated Business Tax

Form NYC-5UBTI - 2009 - Instructions

Page 2

AMENDED DECLARATION

NOTE

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

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

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 amended

PURPOSE OF DECLARATION

schedule of the Notice of Estimated Tax Payment Due (Form NYC-B100). This notice will be

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

automatically mailed to you.

basis for individuals, estates and trusts engaged in carrying on an unincorporated business or

CHARGE FOR UNDERPAYMENT OF INSTALLMENTS OF ESTIMATED TAX

profession, as defined in Section 11-502 of the Administrative Code. Partnerships use Form

NYC-5UB for filing their declarations.

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

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

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

ministrative Code follows provisions similar to the Internal Revenue Code with respect to

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

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

after the return has been filed.

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

WHO MUST MAKE A DECLARATION

of any installment of estimated tax, a completed copy of Form NYC-221 may be attached to the

A 2009 declaration must be made by every individual, estate and trust carrying on an unincor-

return explaining why an additional charge should not be made.

porated business or profession in New York City if its estimated tax (line 6 of tax computation

PENALTIES

schedule) can reasonably be expected to exceed $1,800 for the calendar year 2009 (or, in the

case of a fiscal year taxpayer, for the fiscal year beginning in 2009).

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

making a false or fraudulent declaration or certification.

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 the

applicable later dates specified in these instructions.

A taxpayer filing its Unincorporated Business Tax Return on a fiscal year basis should substi-

tute the corresponding fiscal year months for the months specified in the instructions. For ex-

- Declarations with remittances -

- All other declarations -

ample, if the fiscal year begins on April 1, 2009, the Declaration of Estimated Unincorporated

NYC Department of Finance

Business Tax will be due on July 15, 2009, together with payment of first quarter estimated

Unincorporated Business Tax

tax. In this case, equal installments will be due on or before September 17, 2008, December 15,

P.O. Box 5070

P.O. Box 5080

2009, and April 15, 2010.

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, you do not expect your unincorporated business tax to exceed

HOW TO ESTIMATE UNINCORPORATED BUSINESS TAX

The worksheet on the

$1,800, a change in income, allocation or exemption may require that a declaration be filed

front of this form will help you in estimating the tax for 2008.

later. In this event the requirements are as follows:

LINE 1 -

Installment

File

Amount of

The term “net income from business expected in 2009” means the amount estimated to be the

If requirement for filing occurs:

payment

declaration by:

estimated

2009 net income from business, including professions, before the unincorporated business ex-

dates

tax due

emption. See Schedule A, line 14 of the 2008 Unincorporated Business Tax Return and related

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

instructions (Form NYC-202).

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

June 15, 2009

1/3

(1) June 15, 2009

LINE 2 - EXEMPTION

(2) Sept. 15, 2009

For the amount of the allowable exemption, see the instructions for the 2008 Form NYC-202,

(3) Jan. 15, 2010

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, 2009

If you expect to receive a refund or credit in 2008 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 tax shown

If you file your 2009 Unincorporated Business Tax Return by February 16, 2009, and pay the

on line 4 of the tax computation schedule.

full balance of tax due, you need not: (a) file an amended declaration or an original declaration

otherwise due for the first time on January 15, 2010, or (b) pay the last installment of estimated

LINE 5b - OTHER CREDITS

tax otherwise due and payable on January 15, 2010.

Enter on line 5b the amount estimated to be the sum of any credits allowable for 2008 under

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

CAUTION

ment opportunity relocation costs credit) 11-503(i) (relocation and employment assistance pro-

An extension of time to file your federal tax return or New York State personal income tax re-

gram (REAP) credit, 11-503(l) (lower Manhattan REAP Credit) 11-503(m) (NYC Film

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

Production Credit) and 11-503(n) (Industrial Business Zone Credit). (For additional details

concerning these credits, refer to instructions for Forms NYC-114.5, NYC-114.6, NYC-114.8

ELECTRONIC FILING

and NYC-114.9)

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

DECLARATION

extension on-line.

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

For more information log on to

incorporated business reported as tax on line 23 of its 2008 Form NYC-202. On line 1b (line

7b of the Estimated Tax Worksheet) enter the amount from line 6 of the Estimated Tax Work-

sheet. This is the amount the business estimates as its 2009 Unincorporated Business Tax lia-

NOTE

bility.

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

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

PAYMENT OF ESTIMATED TAX

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

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

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

PRIVACY ACT NOTIFICATION

2009 and January 15, 2010

The first installment payment must accompany the declaration.

The Federal Privacy Act of 1974, as amended, requires agencies requesting Social Security Numbers to in-

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

form individuals from whom they seek this information as to whether compliance with the request is vol-

If there was an overpayment on the 2008 Unincorporated Business Tax Return and on line 30b

untary or mandatory, why the request is being made and how the information will be used. The disclosure

of the NYC-202 or line 10 of the NYC-202EZ you elected to have that overpayment applied

of Social Security Numbers for taxpayers is mandatory and is required by section 11-102.1 of the Admin-

as a credit toward your 2009 estimated tax, enter the amount from line 30b of the NYC-202 or

istrative Code of the City of New York. Such numbers disclosed on any report or return are requested for

line 10 of the NYC-202EZ on line 3 of the declaration.

tax administration purposes and will be used to facilitate the processing of tax returns and to establish and

maintain a uniform system for identifying taxpayers who are or may be subject to taxes administered and

Make remittance payable to NYC DEPARTMENT OF FINANCE. All remittances must be

collected by the Department of Finance, and, as may be required by law, or when the taxpayer gives writ-

payable in U. S. dollars drawn on a U. S. bank. Checks drawn on foreign banks will be rejected

ten authorization to the Department of Finance for another department, person, agency or entity to have ac-

and returned. A separate check for the declaration will expedite processing of the payment.

cess (limited or otherwise) to the information contained in his or her return.

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

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

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