Instructions for Form IT-2663 Nonresident Real Property Estimated Income Tax Payment Form - New York

This document contains official instructions for Form IT-2663 , Nonresident Income Tax Payment Form - a form released and collected by the New York State Department of Taxation and Finance.

FAQ

Q: What is Form IT-2663?
A: Form IT-2663 is the Nonresident Real Property Estimated Income Tax Payment Form for New York.

Q: Who needs to file Form IT-2663?
A: Nonresidents of New York who own real property in the state and expect to have income from that property need to file Form IT-2663.

Q: What is the purpose of Form IT-2663?
A: The purpose of Form IT-2663 is to report and pay estimated income tax on the income from real property in New York.

Q: When is Form IT-2663 due?
A: Form IT-2663 is due annually on or before the 15th day of the 4th month following the close of the taxable year.

Q: What information is required on Form IT-2663?
A: Form IT-2663 requires information about the nonresident property owner, the property being taxed, the estimated income, and the calculation of the estimated tax.

Q: Is there a penalty for not filing Form IT-2663?
A: Yes, there may be penalties for not filing Form IT-2663 or for underpaying the estimated income tax due.

Q: Can I claim a refund of the estimated tax paid?
A: Yes, if the actual tax liability is less than the estimated tax paid, a refund may be claimed on the nonresident tax return.

Q: Are there any exemptions or credits available for nonresidents?
A: Yes, there are certain exemptions and credits available for nonresidents. Consult the instructions for Form IT-2663 or contact the New York State Department of Taxation and Finance for more information.