Businesses that sell tangible personal property or taxable services in New York State need a Certificate of Authority. A new corporate tax applies to corporations and banks, other than federal S-corporations, that do business in New York City.Sales tax applies to retail sales of certain tangible personal property and services. Every new business owning tangible personal property on January 1 must file an initial tax return. Form must be filled out and notarized at the time of filing. As far as this article is concerned, we will discuss tangible personal property tax (TPPT) as it pertains to Florida resident business owners.