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Axpayer identification number (SSN or EIN) Name(s) as shown on return Part 1 Partner (see instructions) Name of partnership (as shown on Form NYC-204) Partnership year end (from Form NYC-204) Partnership EIN 1 Enter the amount from Form NYC-204, line 25 (see instr.) ... 1. . 2 Enter the amount from Form NYC-204, line 22 (see instr.) ... 2. . 3 Add lines 1 and 2. .

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More In Forms and Instructions Partnerships file an information return to report their income, gains, losses, deductions, credits, etc. A partnership does not pay tax on its income but "passes through" any profits or losses to its partners. Partners must include partnership items on their tax or information returns.

Partnerships are the simplest structure for two or more people to own a business together. There are two common kinds of partnerships: limited partnerships (LP) and limited liability partnerships (LLP).

(a) Under the entity method, for purposes of determining the taxes measured by the entire net income base, capital base, minimum taxable income base, and the fixed dollar minimum, a corporate partner is treated as owning an interest in the partnership entity.

(d) For purposes of paragraph (c) of this subdivision, the term "portfolio investment partnership" means a limited partnership that meets the gross income requirement of § 851(b)(2) of the Internal Revenue Code.

Partnerships use Schedule B-1 (Form 1065) to provide information applicable to certain entities, individuals, and estates that own, directly or indirectly, an interest of 50% or more in the profit, loss, or capital of the partnership.

The NY State PTET tax rates are as follows: $2,000,000 of taxable income: 6.85% Over $2,000,000 up to $5,000,000: 9.65% Over $5,000,000 up to $25,000,000: 10.3%

Under the entity approach, the partnership is treated as a separate entity in which partners have no direct interest in partnership assets and operations.

For New York State income tax purposes, a partnership is a syndicate, group, pool, joint venture, or other unincorporated organization that is carrying on a trade or business and is classified as a partnership for federal income tax purposes.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
Content Takedown Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232