Get Form Nyc-204ez - Unincorporated Business Tax Return For ...

Single-member LLCs must file on Form NYC-202. Partnerships (including any incorporated entity other than a single-member LLC treated as a partnership for federal income tax purposes) or other unincorporated organiza- tions must file Form NYC-204 or Form 204EZ. Estates and Trusts must use Form NYC-202EIN.

The amount of credit allowed to a New York City resident or part-year resident with city taxable income of $42,000 or less is 100% of the UBT imposed. The credit decreases gradually from 100% to 23% for taxpayers with city taxable incomes of more than $42,000 but less than $142,000.

GCT Tax Rates These methods are as follows: Entire net income base — 8.85 percent of entire net income. Total capital base — 0.15 percent of business and investment capital.

The amount of credit allowed to a New York City resident or part-year resident with city taxable income of $42,000 or less is 100% of the UBT imposed. The credit decreases gradually from 100% to 23% for taxpayers with city taxable incomes of more than $42,000 but less than $142,000.

Tax Rates A 4% tax rate is charged for taxable income allocated to New York City. Who is Exempt from this Tax? Performing services as an employee is not subject to UBT. An owner, lessee, or fiduciary who is engaged in holding, leasing, or managing real property for their own account.

Who is Exempt from this Tax? Performing services as an employee is not subject to UBT. An owner, lessee, or fiduciary who is engaged in holding, leasing, or managing real property for their own account. Entities engaged primarily with qualifying investment activities are partially exempt from UBT on the income.

The penalty charge is: 5% of the tax due for each month (or part of a month) the return is late, up to a maximum of 25% If your return is more than 60 days late, your minimum penalty is the lesser of $100 or the total amount due on the return.

Any partnership that carries on or liquidates any trade, business, profession or occupation wholly or partly within New York City and has a total gross income from all business regardless of where carried on of more than $25,000 (prior to any deduction for cost of goods sold or services performed) must file an ...

For New York limited liability companies, limited liability partnerships, and general partnerships, corporate income tax is referred to simply as a “filing fee.”...Entire Net Income. Federal Taxable IncomeENI Tax Rate$290,000 or less6.5%more than $290,000 but not more than $390,0007.1%More than $390,0004.35%