Primer: Corporate Income Taxes New York

If you have chosen to incorporate your business, you must file and pay federal income taxes, and, in many cases, state and local income taxes as well.

Local Companies

Western Business Systems
(716) 648-3150 ext. 100
7071 Boston State Road
N. Boston, NY
Virtual Offices Worldwide
00353872526210
12 Fellin Ave
NY, NY
Mega Tax
(347) 767-4126
170 Dyckman St
New York, NY
Buffamante Whipple Buttafaro, P.C.
(800) 337-5104
201 W. 3rd Street, Suite 300
Jamestown, NY
Ulster Savings
(845) 338-6322
180 Schwenk Drive
Kingston, NY
Linda Kimlin
(845) 256-0456
New Paltz, NY
AA & Tc Inc
(212) 594-0074
1220 Broadway W 30th St
New York, NY
Abramson Nicholas
(212) 496-7343
200 W 86 Amsterdam Ave
New York, NY
TaxFirm.com
(212) 352-1200
11 Penn Plaza
New York, NY
Sunbelt Business Brokers
(212) 588-9977
45 W. 34th Street
New York, NY



If you have chosen to incorporate your business, you must file and pay federal income taxes, and, in many cases, state and local income taxes as well.

If you are a C Corporation, you will pay income taxes on income left over after business expenses. These taxes are calculated on a sliding scale that usually increases as your income rises. You may also be liable for other taxes, such as personal-holding-company taxes and the accumulated-earnings tax. You should consult with your tax advisor to see exactly what corporate income taxes apply to your company.

If you are an S Corporation, your company, in most cases, will not pay direct taxes. Instead, the income or loss is passed on directly to the shareholders, who pay the tax at the personal rate. Be aware that some states do not recognize S corporation status and tax the company directly. No matter what kind of corporation you are, your federal corporate returns are due a month prior to personal income tax returns -- the fifteenth day of the third month after the company's fiscal year ends. So, if your year ends on December 31, your tax return is due March 15, instead of April 15. Corporate estimated taxes are due on the 15th day of the fourth, sixth, ninth, and twelfth month after the end of the fiscal year. For a year ending on December 31, that would be April 15, June 15, September 15, and December 15.

Featured Local Company

Western Business Systems

(716) 648-3150 ext. 100
7071 Boston State Road
N. Boston, NY

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