Fillable Nyc 204Ez Form in PDF

This form is for certain partnerships, including limited liability companies treated as partnerships for federal income tax purposes, who are required to file an Unincorporated Business Tax Return but have no tax liability. For taxable years beginning on or after January 1, 2009, a partnership engaged in an unincorpo- rated business is required to file an Unincorporated Business Tax return if its unincorporated business gross income is more than $95,000. This form may also be used by a partnership that is not required to file but wishes to disclaim any liability for tax because it is engaged solely in activities exempt from the tax.

You may not use this form if:

◆You have NYC modifications other than the addback of income and Unincorporated Business Taxes on Schedule B, line 13 of Form NYC-204. For a complete list of modifications, see instructions for Form NYC-204.

◆You allocate total business income within and without NYC. (If you allocate 100% of your business income to NYC, you may use this form.)

◆YouclaimacreditforUnincorporatedBusinessTaxPaid(seeFormNYC-114.7)orothercredits(seeFormsNYC-114.5,NYC-114.6,NYC-114.8,NYC-114.9orNYC-114.10).

◆You claim a partial exemption for investment activities. (See instructions to Form NYC-204 "Who is Subject to the Tax".)

◆You have any investment income or loss (See instructions for NYC-204, Schedule B, Lines 30 (a-f)).

◆You claim any deduction for a net operating loss. (See Form NYC-204, ScheduleA, line 11.)

◆Your unincorporated business gross income less the allowance for active partners' services is more than $90,000. (See Form NYC-204, ScheduleA, line 14.)

2.Otherincomeandexpensesnotincludedonline1thatarerequiredtobereported

3.IncometaxesandUnincorporatedBusinessTaxdeductedonfederalForm1065

5.Amountincludedinline4representingnetincomeorlossfromactivitiesexemptfromthetax(seeinstr.) ● 5.

11.EnterpaymentofestimatedUnincorporatedBusinessTaxincludingcarryovercreditfrom

Line 3. Enter the amount of income and unincorporated business taxes

imposed by New York City, New York State or any other taxing jurisdiction that was deducted in computing the amounts on lines 1 or 2. Attach a schedule.

Line 5. Enter on this line the amount included in line 4 that represents the net income or net loss from an activity that is not an unincorporated business carried on by the taxpayer wholly or partly in the City. See Instructions for Form NYC-204 "Who is Subject to the Tax." For this purpose:

(i)exclude the income or loss of an entity, other than a dealer as defined in Ad. Code §11-501(1), that, for its own account, engaged solely in the purchase, holding or sale of property, transactions in positions in property, or the acquisition, holding or disposition, other than in the ordinary course of business, of interests in other unincorporated entities that are themselves engaged solely in the foregoing activities. NOTE: entities receiving $25,000 or less of gross receipts from other activities may still be eligible for this exclusion.Ad. Code §11-502(c)(3). However, entities eligible for the partial self-trading exemption under Ad. Code §11-502(c)(4) are not eligible for this exclusion and may not use this form.

(ii)for taxable years beginning on or after July 1, 1994, exclude the income, gain or loss from real property held to produce rental income or from the disposition of such property by an entity, other than a dealer. Also exclude income or loss from a business conducted at the property solely for the benefit of tenants at the property that is not open to the public, and eligible income from parking services rendered to tenants. SeeAd. Code §11-502(d).

(iii)exclude the income or loss from any separate and distinct activity carried on wholly outside of New York City.

(iv)for tax years beginning on or after August 1, 2002, exclude all of the federal taxable income of partnerships that receive 80% or more of their gross receipts from charges for the provision of mobile telecommunications services to customers and exclude a partner's distributive share of income, gains, losses and deductions from any partnership subject to tax underAd. Code Title II, Ch. II as a “utility” as defined inAd. Code section 11-1101(6), including its share of separately reported items.

Line 7. Adeduction may be claimed for reasonable compensation for personal services rendered by the partners. The allowable deduction is the lower of (i) 20% of line 6 (if greater than zero) or (ii) $10,000 for each active partner.

PreparerAuthorization: If you want to allow the Department of Finance to discuss your return with the paid preparer who signed it, you must check the "yes" box in the signature area of the return. This authorization applies only to the individual whose signature appears in the "Preparer's Use Only" section of your return. It does not apply to the firm, if any, shown in that section. By checking the "Yes" box, you are authorizing the Department of Finance to call the preparer to answer any questions that may arise during the processing of your return. Also, you are authorizing the preparer to:

◆Give the Department any information missing from your return,

◆Call the Department for information about the processing of your return or the status of your refund or payment(s), and

◆Respond to certain notices that you have shared with the preparer about math errors, offsets, and return preparation. The notices will not be sent to the preparer.

You are not authorizing the preparer to receive any refund check, bind you to anything (including any additional tax liability), or otherwise represent you before the Department. The authorization cannot be revoked, however, the authorization will automatically expire no later than the due date (without regard to any extensions) for filing next year's return. Failure to check the box will be deemed a denial of authority.

ADDITIONAL REQUIRED INFORMATION The following information must be entered for this return to be complete.