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See also: 1120 New York frequently asked questions
General Information
Enter X if this is not a final return and the client's federal return covered a period of less than twelve months as a result of joining or leaving a federal consolidated group or as a result of a federal IRC Section S38 election. If this field is marked, the appropriate checkbox is marked on Form NYC-2, NYC-2S, NYC-3L, NYC-4S, NYC-4S-EZ, NYC-1, NYC-2A, NYC-3A or NYC-1A.
Forms NYC-4S & NYC-2S
Enter X to determine if the client meets the requirements to file Form NYC-2S. If the requirements are met, Form NYC-2S automatically prints. If the requirements are not met, Form NYC-2 prints.
Note: New clients may benefit from the new client option, Calculate Form NYC-2S. Choose Setup > 1120 Corporation > New York tab, and click the New Client Options button. Mark the Calculate Form NYC-2S checkbox. This option transfers to the city input screen for newly created clients.
Enter X to determine if the client meets the requirements to file Form NYC-4S. If the requirements are met, Form NYC-4S automatically prints. If the requirements are not met, Form NYC-3L prints.
Note: New clients may benefit from the new client option, Calculate Form NYC-4S. Choose Setup > 1120 Corporation > New York tab, and click the New Client Options button. Mark the Calculate Form NYC-4S checkbox. This option transfers to the city input screen for newly created clients.
EZ Form (S Corp)
Enter X to determine if the client meets the requirements to file Form NYC-4S-EZ. If the requirements are met, Form NYC-4S-EZ automatically prints. If the requirements are not met, Form NYC-3L will print.
Note: New clients may benefit from the new client option, Calculate Form NYC-4S-EZ. Choose Setup > 1120 Corporation > New York tab, and click the New Client Options button. Mark the Calculate Form NYC-4S-EZ checkbox. This option transfers to the city input screen for newly created clients.
Enter X to not treat the corporation as an eligible small firm. If this field is marked, NYC-3L, Schedule E, F, G and the Alternative Tax Worksheet will calculate when client is exempt from alternative tax on capital and tax on entire net income plus compensation.