Zulch Tax Consultants
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Zulch Tax News & Updates

Change to Our Processing of the Annual NY Form IT-204-LL

 

Is Your Business an LLC or LLP?

Did you know that if your business is an LLC or LLP, you may be required to file Form IT-204-LL annually with New York? Form IT-204-LL, Partnership, Limited Liability Company, & Limited Liability Partnership Filing Fee Payment Form, must be filed by:

  • Every limited liability company (LLC) that is a disregarded entity (not a corporation) for federal income tax purposes that has income, gain, loss, or deduction from New York State sources.

  • A limited liability partnership (LLP) that is required to file a New York State partnership return and that has income, gain, loss, or deduction from New York State sources.

  • Every regular partnership (those that are not an LLC or LLP) that is required to file a New York partnership return that has income, gain, loss, or deduction from New York State sources, and had New York source gross income for the preceding tax year of at least $1 million.

We are taking a new approach with our LLC filing process this coming year.  We will now be sending an invoice in advance of the LLC filing.  If you want us to prepare the LLC filing Form IT-204-LL, you should pay the invoice indicating your approval for the filing.  If you do not wish to have us prepare the form, then you do not need to pay the invoice.  If we do not receive payment, then we will remove you from our LLC list and will assume that you are handling the filing yourself.  We will send the invoice in December and will ask for payment of the invoice by 1/5/2025.  If you pay the invoice for us to prepare the form, then we will send you the completed IT-204-LL form with filing instructions before the 3/15/2025 deadline.

Additionally, if you have a New York LLC, you are required to file a Biennial Statement updating information with the Department of State every two years. This form is not sent in the mail. It is your responsibility to go online to update the information and pay the $9 fee every two years. Please keep in mind the Biennial Statement is different than Form IT-204-LL. You can file and pay your Biennial Statement by visiting: https://filing.dos.ny.gov/eBiennialWeb/

 

Kevin Zulch