N.Y. Tax Law § 871: Payment of estimated tax

§ 871. Payment of estimated tax. (a) Definition of estimated tax.

Estimated tax means the amount that an electing city partnership or

electing city resident S corporation estimates to be the tax imposed by

section eight hundred sixty-nine of this article for the current taxable

year.

(b) General. Except as provided in subsection (c) of this section, the

estimated tax shall be paid as follows for an electing city partnership

and an electing city resident S corporation:

(1) The estimated tax shall be paid in four equal installments on

March fifteenth, June fifteenth, September fifteenth and December

fifteenth in the calendar year prior to the year in which the due date

of the return required by this article falls.

(2) The amount of any required installment shall be twenty-five

percent of the required annual payment.

(3) Without regard to paragraph four of subsection (c) of section six

hundred eighty-five of this chapter, the required annual payment is the

lesser of: (A) ninety percent of the tax shown on the return for the

taxable year; or (B) one hundred percent of the tax shown on the return

of the electing city partnership or electing city resident S corporation

for the preceding taxable year.

(c) Application to short taxable year. This section shall apply to a

taxable year of less than twelve months in accordance with procedures

established by the commissioner.

(d) Installments paid in advance. An electing city partnership or

electing city resident S corporation may elect to pay any installment of

its estimated tax prior to the date prescribed for the payment thereof.