New York
Business Tax Returns — New York
Business entities operating in New York face a layered tax environment that includes federal corporate or partnership returns, New York State corporate tax, and potentially New York City general corporation tax or unincorporated business tax. Reed Corporation prepares business tax returns for S-Corporations, partnerships, LLCs, and C-Corporations with New York nexus.
What’s Included
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S-Corporation Returns (1120-S) — Federal Form 1120-S and New York CT-3-S with proper shareholder K-1 preparation.
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Partnership Returns (1065) — Federal Form 1065 and New York IT-204 with partner K-1 allocation schedules.
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C-Corporation Returns (1120) — Federal Form 1120 and New York CT-3 with all applicable credits and deductions.
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NYC Business Tax Compliance — General corporation tax (GCT), unincorporated business tax (UBT), and commercial rent tax filings as applicable.
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Pass-Through Entity Tax (PTET) — New York PTET election analysis and filing for qualifying entities seeking state tax deduction above the SALT cap.
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Annual Report & Franchise Tax — New York State annual filing requirements and franchise tax calculations.
Business Tax Returns in New York
New York’s business tax landscape includes several obligations that do not exist in most other states. The unincorporated business tax applies to sole proprietors and partnerships earning income in New York City. The commercial rent tax affects businesses in certain Manhattan ZIP codes. And the pass-through entity tax election, introduced to address the federal SALT deduction cap, requires careful analysis to determine whether it benefits your specific situation.
Reed Corporation evaluates each client’s entity structure and business activities to ensure compliance with all applicable filing requirements while identifying every available credit and deduction.
Ready to Get Started?
Contact us to learn more about business tax returns services in New York.