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11052: NY - Filing an S Corporation Extension


New York

How do I file an extension for a New York S Corporation return (based on a federal 1120-S)?

 

New York does not recognize a federal extension. If you cannot meet the filing deadline for a NY S corporation return, you should request a six-month extension of time by filing Form CT-5.4, Request for Six-Month Extension to File, on or before the due date of the return. The full amount of tax is due on the original due date of the return, regardless of any extension. Only one extension is permitted.

The CT-5.4 is available from NY screen EXT. The form can be printed and paper filed, or it can be e-filed separately from the federal 7004 extension.

To apply for an extension:

  1. Complete the EXT screen (on the Other tab).
    1. Select Yes from the drop list for Generate an Extension.
    2. To automatically compute the extension amount due: Check this box to get the software to compute the extension payment due, based on data entered in the return. If the box is not checked, no payment amount will be shown on the voucher unless the override fields are entered.

    Note: The field Amount paid with extension should not be entered before the extension request is filed. An amount entered in this field carries to the main return and suppresses the extension form. Use this field only when you are preparing the main return and therefore want the extension payment included there and don’t want the extension form to be printed.

  2. Arrange payment. If you e-file the extension and want to send the payment electronically, use the PMT screen to set up a direct payment.
  3. From the federal PIN screen, click the link New York e-File and Direct Debit Authorization and check the first box to authorize e-file and the second box to authorize direct debit of the extension. These are NY requirements. If you paper file, see the CT-5.4 instructions.
  4. Select NY EXT in the State E-File Override section on the EF screen. If you are also filing the federal 7004, be sure to check the Federal 7004 Only option from the Federal E-File Override section of this screen. If you are not filing the federal 7004, check the box Do NOT send federal.
  5. Calculate or view the return. The NY extension should appear on the 1120SEF page in View. It will also show in the EF Documents column on the EF Return Selector when you select the return for e-filing (EF > Select Returns for EF).

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