Estimated tax requirements for corporations

New York C corporations subject to tax under Article 9-A; corporations subject to tax under Article 9, §184, 186-a, 186-a, and 186-e; and corporations subject to tax under Article 33 whose tax after credits for the second preceding tax year exceeds $1,000 must use Form CT-300, Mandatory First Installment (MFI) of Estimated Tax for Corporations, to pay their mandatory first installment (MFI) of estimated tax for the upcoming tax year. If the second preceding year’s tax after credits exceeds $1,000 and the corporation is subject to the metropolitan transportation business tax (MTA surcharge), it is also required to pay an MFI of estimated MTA surcharge.

These corporate taxpayers can no longer make MFI payments with the prior year’s tax return or MTA surcharge return, or with a request for an extension of time to file such returns.

If your corporation reasonably expects to owe more than $1,000 in tax after credits, you must file estimated tax forms (Form CT-400, Estimated Tax for Corporations) and make quarterly payments of all estimated tax due. Most corporations are mandated to e-file the estimated tax.

How to file

• Use Corporation Tax Web File
  
  
  1. Log in to your Business Online Services account or create one.
  2. Select the ≡ Services menu in the upper left corner of your Account Summary homepage.
  3. Select Corporation Tax Web File.

• Use tax preparation approved software to submit Form CT-400.
• File paper Form CT-400.

Log in Create Account

How to request interest on an overpayment of your mandatory first installment (MFI)

Starting with tax year 2019, if your corporation made an MFI of estimated tax and overpaid, we’ll automatically:

• calculate interest on the overpayment, and
• apply it to the next liability period as a credit against your tax liability.

We’ll also send you a Notice of Account Adjustment letter (Form DTF-160) to notify you of the overpayment and adjustment to your next tax liability.

If you prefer to receive a refund of the interest, contact us at 518-485-0384 to make your request. You must make your request within the applicable statute of limitations.

For liability periods prior to tax year 2019, you must request a refund of the interest on excess MFI within the applicable statute of limitations. Please mail your request to:

NYS TAX DEPARTMENT
CORP TAX ACCOUNT RESOLUTION UNIT
W A HARRIMAN CAMPUS
ALBANY NY  12227-0852  

A New York S corporation or continuing §186 corporation whose tax for the preceding tax year exceeded $1,000 is required to pay a mandatory first installment (MFI) with its tax return for the previous year or with the request for an extension of time to file such return. These taxpayers do not use Form CT-300, Mandatory First Installment (MFI) of Estimated Tax for Corporations. 

If a continuing §186 corporation’s preceding year’s tax exceeded $1,000 and the corporation is subject to the MTA surcharge, it is also required to pay an MFI of estimated MTA surcharge. New York S corporations are not subject to the MTA surcharge.

If your corporation reasonably expects to owe more than $1,000 in franchise tax after credits, you must file estimated tax forms (Form CT-400, Estimated Tax for Corporations) and make quarterly payments of all estimated tax due. Most corporations are mandated to e-file the estimated tax.

• Use Corporation Tax Web File to submit Form CT-400. You will need to first create an Online Services account.
• Use tax preparation approved software to submit Form CT-400.
• File paper Form CT-400.

Log in Create Account