Get Ny Publication 16 2009-2025

New York requires a biennial update, meaning a report every other year. The cost is $9.

If your LLC is treated as a disregarded entity for federal income tax purposes and has any income, gain, loss, or deduction from New York sources, the filing fee is $25.

Unlike some states, New York does not require LLCs to file an annual report, but it does mandate the submission of a Biennial Statement every two years, typically accompanied by a $9 fee. In addition to this, LLCs may face various tax obligations, including state income and federal taxes.

California LLC Annual Franchise Tax A California LLC, like all entities in California, must pay the state's annual Franchise Tax. This tax is $800 for all California LLCs. The annual Franchise Tax is due the 15th day of the fourth month after the beginning of the tax year. You must file Form 3522 (LLC Tax Voucher).

If your LLC elects C-corp status in New York, you'll pay a corporation franchise tax based on the highest of three tax bases: business income base, business capital base, and fixed dollar minimum. Your business must run the numbers and get a value for all three tax bases, then pay whatever is highest.

New York has a corporation franchise tax, which applies to both traditional (C-type) corporations and to S corporations, and a tax known simply as the "filing fee," which applies to LLCs, limited liability partnerships (LLPs), and some regular partnerships.

Ongoing LLC Costs in New York Biennial report fees: Every two years, LLCs must file a report and pay a $9 fee. Franchise tax: This annual tax is a minimum of $25.

A single-member LLC (SMLLC) treated as a disregarded entity for federal income tax purposes is treated as a disregarded entity for New York tax purposes. If the SMLLC is disregarded and the single member is an individual, the SMLLC is treated as a sole proprietorship for New York tax purposes.