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New Member
posted Jun 4, 2019 9:11:36 PM

Do I need to file an IT-204 form if my business had no income or expenses? Do I also need to file an IT 204LL?

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Expert Alumni
Jun 4, 2019 9:11:37 PM

Please see the NY State Department of Taxation and Finance rules below on filing IT-204 and IT-204-LL.

Do you need to file IT-204: "Partnerships are not subject to personal income tax. But every partnership having either (1) at least one partner who is an individual, estate, or trust that is a resident of New York State, or (2) any income, gain, loss, or deduction from New York State sources, must file a return on Form IT-204, regardless of the amount of its income"

"Form IT-204-LL should not be filed by:

  • a partnership, LLC, or LLP with no income, gain, loss, or deduction from New York sources, who is filing a partnership return solely because it has a New York resident partner; or

  • a partnership, LLC, or LLP with no income, gain, loss, or deduction from New York sources, regardless of whether or not it is formed under the laws of New York State or is dormant; or

  • an LLC or LLP that has elected to be treated as a corporation for federal income tax purposes."

https://www.tax.ny.gov/pit/efile/annual_filing_fee.htm

https://www.tax.ny.gov/pit/ads/efile_addit204ll.htm

https://www.tax.ny.gov/pdf/current_forms/it/it204i.pdf