You may have to file an annual New York State corporation tax return to pay a franchise tax under the New York State Tax Law. The Tax Department is streamlining withholding tax and wage reporting forms and Web File applications.Corporations file Schedule M-3 (Form 1120) to answer questions about their financial statements and reconcile financial statement net income (loss) If you're not required to file Form 1040, see the line 9 instructions. Taxpayers in these areas now have until May 1, 2025, to file various federal individual and business tax returns and make tax payments. Click here to access an Open Records Request form.