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New York Form IT-2658 / CT-2658 Report of Estimated Tax

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New York Form IT-2658 / CT-2658 Report of Estimated Tax

IT-2658
Partnerships and New York S corporations must file Form IT-2658 to make required estimated tax payments on behalf of partners or shareholders who are nonresident individuals with the following exceptions:
  • Estimated tax payments are not required for any partner or shareholder whose estimated New York State tax required to be paid for the tax year by the partnership or New York S corporation is $300 or less per tax type (for example, if a partnership is doing business in the MCTD and they calculate an individual partner?s required NYS personal income estimated tax payment to be $250 and their estimated MCTMT payment to be $85, no payment is required). Note: Partners are still required to make estimated MCTMT payments in their individual capacities if they owe any MCTMT.
  • Estimated payments are not required for any partner or shareholder if the entity is authorized to file a group return, and the partner or shareholder has elected to be included on the group return. For more information on group returns, see Form IT 203-GR-I, Instructions for Form IT203-GR, Group Return for Nonresident Partners, and Form IT-203-S-I, Instructions for Form IT-203-S, Group Return for Nonresident Shareholders of New York S Corporations.
Note: To make estimated personal income tax payments on behalf of partners that are C corporations, use Form CT-2658, Report of Estimated Tax for Corporate Partners, and Form(s) CT-2658ATT, Attachment to Report of Estimated Tax for Corporate Partners.

 

Exemption Certificates:
Estimated tax payments are not required for any partner or shareholder that files Form IT-2658-E, Certificate of Exemption from Partnership or New York S Corporation Estimated Tax Paid on Behalf of Nonresident Individual Partners and Shareholders, with the partnership or New York S corporation certifying that the partner or shareholder will comply in his or her individual capacity with the New York State estimated tax and tax return filing requirements. For more information, see Form IT-2658-E.
 
CT-2658
Partnerships must file Form CT-2658 to make estimated tax payments on behalf of partners that are C corporations. Partnerships that have income derived from New York sources must make estimated tax payments on behalf of any partner that is a corporation, unless the partnership receives information from the corporation that the corporation is a federal S corporation.
 
Exceptions: 
Estimated tax payments are not required for any partner whose New York State estimated tax required to be paid or the tax year by the partnership is $300 or less.
 
Exemption Certificates: 
Estimated tax payments are not required for any partner that files Form CT-2658-E, Certificate of Exemption from Partnership Estimated Tax Paid on Behalf of Corporate Partners, with the partnership certifying one of the following;
  • The corporation is exempt from any tax imposed by New York State Tax Law, Articles 9, 9-A, and 33; or
  • The corporation will comply in its corporate capacity with all New York State corporation estimated tax payment provisions and tax return filing requirements.
For more information, see Form CT-2658-E.
 

Partnerships: 
Do not submit copies of Forms CT-2658-E to the Tax Department. The partnership may rely on these forms to exempt the partner from the estimated tax provisions. The partnership must maintain copies of Forms CT-2658-E for its records.
 
Note: To make estimated tax payments on behalf of partners who are nonresident individuals, use Form IT-2658, Report of Estimated Tax for Nonresident Individual Partners and Shareholders, and Form IT2658-NYS, Attachment to Form IT-2658, Report of Estimated Personal Income Tax for Nonresident Individuals, or Form IT-2658-MTA, Attachment to Form IT-2658, Report of Estimated Metropolitan Commuter Transportation Mobility Tax (MCTMT) for New York Nonresident Individual Partners, whichever are applicable.


Solution :

Suppress Form IT-2658 / CT-2658 for All Partners:
For Partnerships:
  1. Go to Screen 37, Miscellaneous Information (State & Local).
  2. Select New York Miscellaneous in the St. Misc. Info. box on the left side of the screen.
  3. Scroll down to the Form IT-2658 / CT-2658 section.
  4. Check the box next to Suppress, code 24. 
The Form IT-2658 or CT-2658 will not be generated.
 
For S-Corporations:
  1. Go to Screen 42, Miscellaneous (State & Local).
  2. Select New York State in the St. Misc. box on the left side of the screen.
  3. Check the box next to Suppress Form IT-2658, code 68. 

Form IT-2658 is not Generated for Non-Individual Partners or Shareholders:
Partnerships:
  1. Go to Screen 7, Partner Information.
  2. Type of Entity must be set to Individual to generate the form IT-2658.  
    • Note: Partnerships generate form CT-2658 for Corporate partners.
S-Corporations:
  1. Go to Screen 5, Shareholder Information.
  2. Entity Status must be set to Individual to generate the form IT-2658.

Form IT-2658 is not Generated for Residents of New York:
 
Resident State must be set to some other state. (For Shareholders, NY Residency Status should be set to NY State nonresident.)
  • Form IT-2658 is not generated for exempt shareholders/partners. Persons whose estimated tax is less than $300 are automatically considered exempt; others may be marked "Exempt from Withholding" by checking that box on the Partner/Shareholder Information screen.  (Screen 7 in Partnership / Screen 5 in S-Corporation).
 
Force the Entire Estimated Amount to be Paid with the First Quarterly Voucher:
Partnerships:
  1. Go to Screen 37, Miscellaneous Information (State & Local).
  2. Select New York Miscellaneous Information in the St. Misc. Info. box on the left side of the screen.
  3. Scroll down to the Form IT-2658 / CT-2658 section.
  4. Check the box next to Pay all estimates with first quarter voucher, code 25.
S-Corporations:
  1. Go to Screen 42, Miscellaneous (State & Local).
  2. Select New York State in the St. Misc. box on the left side of the screen.
  3. Check the box next to Pay all estimates with first quarter voucher (Form IT-2658), code 65.
Overrides and Other Input Available on a Partner or Shareholder Basis:
Partnerships:
  1. Go to Screen 32, Schedule K-1 Miscellaneous.
  2. Select appropriate partner in the Partner box on the left side of the screen.
  3. Scroll down to the Form IT-2658 / CT-2658 section.
  4. Select 2009 New York Estimated Tax (IT-2658/CT-2658) (Nonresident Ind/Corp) in the Section box on the left side of the screen.
S-Corporations:
  1. Go to Screen 46, Schedule K-1 (State & Local).
  2. Select appropriate shareholder in the Shareholder box on the left side of the screen.
  3. Select 2009 Nonresident Individual Shareholders Only in the Section box on the left side of the screen.

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