does NY accept a late s-election like the IRS does?

[schirallicpa]

The attorney didn't file the 2553. whats new. Why don't people just come to the accountants first? It is not legal work setting up a corp. Just let me do it. It's easier......

Anyway - I know I can file the 2553 with the 1120S in this first year "Filed pursuant to Rev Proc 2003-43" And it will fly. But does anyone know if NYS will take a late election?

thanks again.

[jainen]

>>"Filed pursuant to Rev Proc 2003-43" And it will fly.<<

In my opinion, that procedure requires more reasonable cause than "Why don't people just come to the accountants first?" The original post doesn't explain WHY the attorney didn't file the 2553.

Anyway, I understand that New York needs a separate election, so (according to the instructions to the form on which to make the election) "To be effective for the tax year, file Form CT-6 at any time during the preceding tax year, or on or before the fifteenth day of the third month of the tax year to which the election will apply." Maybe people don't come to accountants first because accountants don't know the answer either.

[michaelmars]

i have used the same proceedure for NY and have had it accepted. They will ask for a copy of th efederal election.

i usually say there was a mixup whether the client, attorney or cpa was going to file the election with each thinking the other was doing it. Make sure any individual returns are filed as if the s was in effect which further shows intent!

[schirallicpa]

i have used the same proceedure for NY and have had it accepted. They will ask for a copy of th efederal election.

i usually say there was a mixup whether the client, attorney or cpa was going to file the election with each thinking the other was doing it. Make sure any individual returns are filed as if the s was in effect which further shows intent!

Hey - thanks! I appreciate your reply and your helpfulness. Some of the replies you get are not helpful at all, and really a chiding because you dared to ask. I just need some one elses opinion, and I thank you for yours!!

Have a wonderful day....

[jainen]

>>I just need some one elses opinion<<

My apologies! I didn't understand your post to mean that you were looking for one particular opinion. The sarcasm I closed with followed the tone you yourself opened with. But I am serious concerning reasonable cause.

[aknse]

I have filed many late NY CT-6 elections. Just use the same Rev. Proc. as you used on the federal. Also check the box if the federal election is pending.