What are the New York and NYC Filing Requirements for an S Corporation?

Forum|Forum|5 years ago
September 10, 2020
5 replies
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I have a client who is an S Corporation (made the IRS and NY S Corp elections) and has been operating in NYC for all of 2019. It's a simple S Corp return - the client is an author who made $550,000 in royalties in 2019, so it's not a complicated return.

For NY state/city filing purposes, it looks like I need to file NY Form CT-3-S and then also file New York City Form NYC-4S-EZ. Is that correct? Anything else I should be aware of for filing purposes in NYC?

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qbteachmt

Level 15

"the client is an author who made $550,000 in royalties in 2019, so it's not a complicated return"

And yet, you have a Person who needed to be paid through Payroll, because they elected S Corp status. The Client is not the Person. The Client is the S Corp. The Person doesn't get royalties.

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E

Ephesians3-14Author

Level 7

Huh? That wasn't my question. Turns out the S Corp paid him $400K in wages in 2019, but that's not relevant to my question.

qbteachmt

Level 15

"but that's not relevant to my question"

You asked about Filing Requirements for an S Corp. That would include payroll, and if that had not been done, you would not move on to income tax filings or business filings.

So, yes, it's very relevant.

Did you use the googles:

https://nystax.custhelp.com/app/answers/detail/a_id/4184/~/what-is-required-to-file-as-a-new-york-state-s-corporation%3F

https://www.tax.ny.gov/bus/ct/ctidx.htm

https://www.tax.ny.gov/forms/corp_s_forms.htm

https://www.tax.ny.gov/bus/ct/s_corporations_post.htm

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