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Estimate overrides removed for NY s-corporations (Form CT-400MN) in Lacerte for tax year 2022

SOLVEDby Intuit9Updated 1 year ago

Starting in tax year 2022, New York S-Corporations are now required to pay the Mandatory First Installment (MFI) with the return, with the remaining amount being split evenly between Q2-Q4. The associated fields for overriding the state amounts per quarter on Screen 10, Estimates, have been removed for this reason.

From page 1 of the 2022 CT-400 instructions:

"Second, third, and fourth installments – To determine the estimated tax amount due in these installments, subtract the amount of the MFI payment made, as described above, from the estimated tax due and divide the result by three."

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