Updated New York partnership, LLC, LLP filing fees

Your Guide to State, Local, Federal, Estate + International Taxation

New York, partnership, LLC, LLP, filing, taxIt is hard to believe that another tax filing season is upon us. To make matters worse, various Federal filing dates have changed depending on type of entity. States have been adjusting as well.

One that is easy to miss is the New York Form IT-204-LL, which is the Partnership, Limited Liability Company (LLC) and Limited Liability Partnership (LLP) Filing Fee Payment Form. Every partnership, LLC or LLP that has income derived from New York sources must make an annual filing fee payment. Taxpayers must file IT-204-LL on or before the 15th day of the third month following the close of the tax year. So for most taxpayers, that date is March 15th. There are no extensions of time to file.

The amount of the filing fee will be based on the New York source gross income for the tax year immediately preceding the tax year for which the fee is due. In addition, an LLC that is treated as a disregarded entity for federal income tax purposes and that has any income, gain, loss, or deduction from New York sources is also subject to this fee. The amount of the filing fee for an LLC that is treated as a disregarded entity for federal income tax purposes is $25.

The fees for LLCs and LLPs can range from $25 to $4,500. If the New York source gross income is anywhere from $0 – $100,000, then the fee is only $25. If New York source income is more than $25 million, then the fee is $4,500.

For more information, instructions can be found on the New York State Department of Taxation and Finance website.

Kelly Lynch, CPA