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Estimated tax requirements for corporations


We have new guidance about Form CT-300.

For more information, see:
  • New verification requirements for e-file New posting
  • Frequently asked questions about Form CT-300 New posting


Generally, corporations whose tax in the past has exceeded $1,000 after credits are required to make a mandatory first installment (MFI) of estimated tax for their upcoming tax year. Corporations whose tax will exceed $1,000 in the current tax year are also required to file a declaration of estimated tax and make additional installment payments. Estimated tax is the amount estimated to be the franchise, excise, or gross receipts tax and MTA surcharge for the current tax year minus the amount of estimated allowable tax credits for the current tax year.

Rules regarding the MFI and how to remit the payments are discussed below.

New York C corporations subject to tax under Article 9-A; corporations subject to tax under Article 9, §184, 186-a, 186-a, and 186-e; and corporations subject to tax under Article 33 whose tax after credits for the second preceding tax year exceeds $1,000 must use Form CT-300, Mandatory First Installment (MFI) of Estimated Tax for Corporations, to pay their mandatory first installment (MFI) of estimated tax for the upcoming tax year. If the second preceding year’s tax after credits exceeds $1,000 and the corporation is subject to the metropolitan transportation business tax (MTA surcharge), it is also required to pay an MFI of estimated MTA surcharge.

These corporate taxpayers can no longer make MFI payments with the prior year’s tax return or MTA surcharge return, or with a request for an extension of time to file such returns.

If your corporation reasonably expects to owe more than $1,000 in tax after credits, you must file estimated tax forms (Form CT-400, Estimated Tax for Corporations) and make quarterly payments of all estimated tax due. Most corporations are mandated to e-file the estimated tax.

  • Use Corporation Tax Web File to submit Form CT-400. You will need to first create an Online Services account.
  • Use tax preparation approved software to submit Form CT-400.
  • File paper Form CT-400.

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A New York S corporation or continuing §186 corporation whose tax for the preceding tax year exceeded $1,000 is required to pay a mandatory first installment (MFI) with its tax return for the previous year or with the request for an extension of time to file such return. These taxpayers do not use Form CT-300, Mandatory First Installment (MFI) of Estimated Tax for Corporations

If a continuing §186 corporation’s preceding year’s tax exceeded $1,000 and the corporation is subject to the MTA surcharge, it is also required to pay an MFI of estimated MTA surcharge. New York S corporations are not subject to the MTA surcharge.

If your corporation reasonably expects to owe more than $1,000 in franchise tax after credits, you must file estimated tax forms (Form CT-400, Estimated Tax for Corporations) and make quarterly payments of all estimated tax due. Most corporations are mandated to e-file the estimated tax.

  • Use Corporation Tax Web File to submit Form CT-400. You will need to first create an Online Services account.
  • Use tax preparation approved software to submit Form CT-400.
  • File paper Form CT-400.

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