Pay Franchise Tax in the State of New York using this online service!
If your business is incorporated in New York State or does business or participates in certain other activities in New York State, 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.
You must file and pay the franchise tax on general business corporations if:
When considering the last 2 bullets above, an LLC or LLP that is treated as a partnership for federal income tax purposes will be treated as a partnership for New York State tax purposes. Corporations engaged in a unitary business with another corporation(s) should see Form CT-3-A-I, page 4, “Who must file a combined return” for information concerning the combined return filing requirements.
Certain not-for-profit and religious corporations are exempt from the New York State corporation franchise tax imposed by Article 9-A of the Tax Law (section 1-3.4 (b) (6) of the Article 9A regulations). You must file Form CT-247, Application for Exemption from Corporation Franchise Taxes by a Not-For-Profit Organization to apply for exemption.
Not-for-profit, nonstock organizations that are subject to federal tax on unrelated business income are taxable under Article 13 of the New York State Tax Law, if they pursue those unrelated business activities in New York State. File Form CT-13, Unrelated Business Income Tax Return, to report those activities.
Organizations required to file federal Form 1120 may be taxable under Article 9-A of the Tax Law and may be required to file Form CT-3, General Business Corporation Franchise Tax Return.
The due dates for filing Franchise taxes in New York State depends on the type of filer:
If your due date falls on a Saturday, Sunday, or legal holiday, you may file your return on or before the next business day.
You can ask any questions related to this service here. We will try to answer them soon!