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TM Department of Finance NYC 579GCT 2016 NEW YORK CITY DEPARTMENT OF FINANCE Signature Authorization for Filed General Corporation Tax Return ELECTRONIC RETURN ORIGINATORS (ERO): DO NOT MAIL THIS.
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Originator FAQ
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Starting in 2022, corporations that derive receipts of $1 million or more are also subject to tax. The new tax is being referred to as the Business Corporation Tax....Tax Bases and Rates. Type of BusinessRate in Tax Year 2015 and thereafterSmall businesses6.5% - 8.85%Financial corporations9%Remaining taxpayers8.85%1 more row
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The tax rate on the capital base is . 1875% for tax years beginning on or after January 1, 2021 and before January 1, 2024, and 0% for tax years beginning on or after January 1, 2024.
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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.
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New York Tax Rates, Collections, and Burdens New York has a 6.50 percent to 7.25 percent corporate income tax rate. New York has a 4.00 percent state sales tax rate, a max local sales tax rate of 4.875 percent, and an average combined state and local sales tax rate of 8.52 percent.
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The NYS Corporation Tax mailing address on page 1 was changed to: NYS CORPORATION TAX, PO BOX 15181, ALBANY NY 12212-5181. The previous PO Box 22038 is no longer valid.
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Extending the temporary Article 9-A tax rates: The Budget Bill proposes extending the current 7.25% business income tax rate for taxpayers with a business income base over $5 million, and the current 0.1875% capital base tax rate.
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