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Form NYC-5UB - 2018 - Instructions

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timated tax, a completed copy of Form NYC-221 may be attached to the return explaining

NOTE

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

why an additional charge should not be made.

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

PENALTIES

PURPOSE OF DECLARATION

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

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

making a false or fraudulent declaration or certification.

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

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

FISCAL YEAR TAXPAYERS

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

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

for filing their declarations.

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, 2018, the Declaration of Esti-

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

mated Unincorporated Business Tax will be due on July 15, 2018, together with payment of

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

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

after the return has been filed.

ber 17, 2018, December 17, 2018, and April 15, 2019.

WHO MUST MAKE A DECLARATION

CHANGES IN INCOME

A 2018 declaration must be made by every partnership carrying on an unincorporated busi-

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

Even though on April 17, 2018, a partnership does not expect its unincorporated business tax

can reasonably be expected to exceed $3,400 for the calendar year 2018 (or, in the case of a

to exceed $3,400, a change in income, allocation or exemption may require that a declaration

fiscal year taxpayer, for the partnership fiscal year beginning in 2018).

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

WHEN AND WHERE TO FILE DECLARATION

File

Amount of

Installment

You must file the declaration for the calendar year 2018 on or before April 17, 2018, or on

If requirement for filing occurs:

declaration

estimated

payment

the applicable later dates specified in these instructions.

by:

tax due

dates

Mail your declaration form with or without remittance to:

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

NYC Department of Finance

April 1, 2018 ................June 2, 2018

June 15, 2018

1/3

(1) June 15, 2018

Unincorporated Business Tax

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

(2) Sept. 17, 2018

P. O. Box 3923

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

(3) Jan. 15, 2019

New York, NY 10008-3923

June 1, 2018 ..................Sept. 2, 2018

Sept. 17, 2018

1/2

(1) Sept. 17, 2018

Fiscal year taxpayers, read instructions opposite regarding filing dates.

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

(2) Jan. 15, 2019

HOW TO ESTIMATE UNINCORPORATED BUSINESS TAX

Sept. 1, 2018..................Jan. 1, 2019

Jan. 15, 2019

100%

None

The worksheet on the front of this form will help you in estimating the tax for 2018.

If the partnership files its 2018 Unincorporated Business Tax Return by February 15, 2019,

LINE 1 -

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

The term “net income from business expected in 2018” means the amount the partnership es-

nal declaration otherwise due for the first time on January 15, 2019, or (b) pay the last in-

timates to be its income for 2018 computed before the specific exemption. Refer to Sched-

stallment of estimated tax otherwise due and payable on January 15, 2019.

ule A, line 14 of the 2017 Partnership Return (Form NYC-204) and related instructions.

CAUTION

LINE 2 - EXEMPTION

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

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

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

for the 2017 Form NYC-204, Schedule A, line 15.

LINE 4 - UNINCORPORATED BUSINESS TAX

NOTE

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

If you expect to receive a refund or credit in 2018 of any sales or compensating use tax for

15, 2019, or filing a tax return by February 15, 2019, will not satisfy the filing requirements if

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

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

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

tax shown on line 4 of the tax computation schedule.

ELECTRONIC FILING

LINE 5b - OTHER CREDITS

Note: Register for electronic filing. It is an easy, secure and convenient was to file a declara-

Enter on line 5b the amount estimated to be the sum of any credits allowable for 2018 under

tion and an extension and pay taxes on-line.

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

For more information log on to NYC.gov/eservices.

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

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

Credit), 11-503(n) (Industrial Business Zone Credit), 11-503(o) (Biotechnology Credit) and 11-

503(p) (Beer Production Credit). (For additional details concerning these credits, refer to in-

structions for Forms NYC-114.5, NYC-114.6, NYC-114.7, NYC-114.8, NYC-114.10 and

NYC-114.12.)

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.

AMENDED DECLARATION

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

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

next date for payment of an installment of estimated tax.

CHARGE FOR UNDERPAYMENT OF INSTALLMENTS OF ESTIMATED TAX

A charge is imposed for underpayment of an installment of estimated tax for 2018. For in-

formation regarding interest rates, call 311. If calling from outside of the five NYC bor-

oughs, please call 212-NEW-YORK (212-639-9675). The Administrative Code follows

provisions similar to the Internal Revenue Code with respect to underpayments of estimated

tax. Form NYC-221 may be used to determine if any charge for underpayment is due or if

any exceptions apply. If it appears that there was an underpayment of any installment of es-

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 - 2018 Page 2

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