N.Y. Tax Law § 864 — Payment of estimated tax

§ 864. Payment of estimated tax. (a) Definition of estimated tax.\nEstimated tax means the amount that an electing partnership or electing\nS corporation estimates to be the tax imposed by section eight hundred\nsixty-two of this article for the current taxable year.\n (b) General. The estimated tax shall be paid as follows for an\nelecting partnership and an electing S corporation:\n (1) The estimated tax shall be paid in four equal installments on\nMarch fifteenth, June fifteenth, September fifteenth and December\nfifteenth in the calendar year prior to the year in which the due date\nof the return required by this article falls.\n (2) The amount of any required installment shall be twenty-five\npercent of the required annual payment.\n (3) Notwithstanding paragraph four of subsection (c) of section six\nhundred eighty-five of this chapter, the required annual payment is the\nlesser of: (A) ninety percent of the tax shown on the return for the\ntaxable year; or (B) one hundred percent of the tax shown on the return\nof the electing partnership or electing S corporation for the preceding\ntaxable year.\n (c) Application to short taxable year. This section shall apply to a\ntaxable year of less than twelve months in accordance with procedures\nestablished by the commissioner.\n (d) Installments paid in advance. An electing partnership or electing\nS corporation may elect to pay any installment of its estimated tax\nprior to the date prescribed for the payment thereof.\n