NY Tax Filing Information

New York Filing Requirements

Residents must file if they file a federal return or if their adjusted gross income plus New York additions exceed:

• Single and can be claimed as a dependent, $3,100
• All others that cannot be claimed on another person’s return, $4,000

Part-year and nonresidents must file if they had New York sourced income and NY adjusted gross income exceeding:

• Single and dependent that can be claimed on another person’s return, $3,100
• Single and cannot be claimed on another person’s return, $8,000
• Married filing jointly, $16,050
• Married filing separately, $8,000
• Head of Household, $11,200
• Qualified Widow or Widower, $16,050
• Individual is subject to separate tax on lump-sum distributions derived from or connected to New York sources (part-year residents), or
• Incurred a New York NOL without incurring a similar federal NOL.

Filing status must follow federal filing except in the following cases:

• If one spouse is a resident of NYS and the other is not, they must file separately or file jointly as residents.
• If one spouse cannot be located and a reasonable effort has been made to locate the spouse then the taxpayer can file married filing separately.
• If one spouse will not sign the joint return and reasonable measure has been made to get the return signed and it is a case where the spouses are separated, have lived apart for the last 12 month or a restraining order is in place.

Return Due Dates

Returns are due April 15th

Corporate taxes are due March 15th

Extension Information

Must file form IT-370 as an application of 6 months extension.  NYS will not accept federal extension form in place of the application mentioned above.

Businesses can file form CT-5 to receive a 6-month extension.  

Business Taxes and Fees

The general business franchise tax is 6.5% of income.
Business capital is taxed at .100%

Business minimum tax may apply if receipts come from New York State Income.  These fees range from $25 if making less than $100,000 in receipts and goes up to $200,000 for receipts over $1 Trillion.

There is no business personal property tax in New York State. 

Real Estate

Real estate tax withholding when transfer/selling a property is .004%

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