Corviniti/Local Services/Business Tax Preparation on Long Island, NY
Local Services / New York / Long Island
Business Tax Preparation on Long Island, NY
Federal and New York business returns filed from reconciled books, with the CT-6 S election, the PTET SALT-cap election, and the MCTMT handled, and no April surprises.
What it is. Preparation and filing of your federal and New York business returns, plus the owner's personal return, by a CPA working from reconciled books, with the New York elections handled.
Where the value is. The New York S election, the PTET SALT-cap election, entity-correct treatment, the MCTMT, and estimated taxes managed so the return has no surprises.
Why a New York firm. New York business tax has its own forms and elections, and Long Island adds the MCTMT. A preparer who does not live in the rules leaves money and compliance on the table.
Corviniti prepares and files business tax returns for Long Island companies: S corporations (Form 1120-S), partnerships and multi-member LLCs (Form 1065), C corporations (Form 1120), and single-owner businesses on Schedule C, together with the matching New York returns and the owners' personal returns. Every return is prepared by a CPA from reconciled books, so filing assembles books that are already done, skipping the year-end reconstruction billed at tax-season rates. Long Island businesses file federal and New York returns only; the Unincorporated Business Tax and the other city taxes are New York City rules that do not apply here.
The value of good business tax preparation in New York is in the elections and treatment a preparer working outside the rules misses: the separate New York S election, the pass-through entity tax election modeled per owner now that the 2025 federal law raised the SALT cap, entity-correct handling of owner compensation and distributions, and estimated payments sized so you are neither penalized nor lending the government money interest-free. For Long Island, add the MCTMT payroll tax, which upstate businesses do not owe and which has to be planned into payroll.
For Nassau and Suffolk businesses, we keep books, plan taxes, and file returns under one roof. That means the return is prepared by the same people who know your numbers, and the planning that lowers it happens during the year, not at the filing table. What we file, and the deadlines that govern it, is below.
This page sits under Corviniti Accounting in New York City, our New York headquarters. That page covers the full New York City and New York State picture, and links to the rest of our local coverage.
PTET mechanics
How the New York PTET works
The pass-through entity tax, step by step: what happens without the election, what changes with it, and the calendar it depends on.
How the PTET works, with and without the election. Illustrative, not tax advice.
Which return
Which return does your business file
Each entity type files a federal return and a matching New York return. The map, plus the filing calendar.
Business returns by entity type. Illustrative and not exhaustive.
The SALT cap
The 2025 SALT cap change, and who benefits
The federal cap on deducting state and local taxes changed in July 2025. The cap by year, and who still benefits from electing the PTET.
The SALT cap by year and who benefits. Illustrative, not tax advice.
This is for you if
You need your business return filed and are not confident last year's was done right.
You elected S corp federally but never filed New York's CT-6.
You are a profitable pass-through and have never heard your preparer mention the PTET.
You have employees and want the MCTMT handled with the return, not forgotten.
What you get
Both returns filed The federal return and the matching New York return, tied to the books and to each owner's K-1.
The elections that cut the bill The CT-6 S election and the PTET, elected on time and reconciled onto the personal returns.
The MCTMT handled The Long Island payroll and self-employment MCTMT tracked, booked, and filed with the return.
The owner's return, coordinated Prepared alongside the business return so the K-1, the credits, and the estimates all line up.
How We Help
What you get
Federal and New York business returns prepared from reconciled books, with the elections and the MCTMT that lower or govern the bill.
Both returns filedThe federal return and the matching New York return, tied to the books and to each owner's K-1.
The elections that cut the billThe CT-6 S election and the PTET, elected on time and reconciled onto the personal returns.
The MCTMT handledThe Long Island payroll and self-employment MCTMT tracked, booked, and filed with the return.
The owner's return, coordinatedPrepared alongside the business return so the K-1, the credits, and the estimates all line up.
When companies bring us in
You need your business return filed and are not confident last year's was done right.
You elected S corp federally but never filed New York's CT-6.
You are a profitable pass-through and have never heard your preparer mention the PTET.
You have employees and want the MCTMT handled with the return, not forgotten.
The Detail
The gaps, and how we close each one
Service 01
The right return for your entity, federal and New York
Each entity type files differently, and each federal return has a New York counterpart that does not always work the way owners assume. Mismatches between the books, the federal return, and the state return are where problems start.
How we handle it
We prepare the federal return for your structure, 1120-S for S corporations, 1065 for partnerships and multi-member LLCs, 1120 for C corporations, Schedule C for sole proprietors, and the matching New York return: CT-3-S for New York S corporations, IT-204 for partnerships, and CT-3 under the Article 9-A franchise tax for C corporations, at a 6.5 percent business-income rate for most small companies. New York's corporate tax also carries a fixed dollar minimum based on New York receipts. Owner K-1s tie to the return, and the return ties to the books, so the three reconcile and an examiner has nothing to pull on. There is no separate county or city business income return on Long Island, which keeps the structure simpler than in New York City.
What you get: Federal and New York returns that tie to each other and to the books.
Service 02
The New York S election (CT-6), and why federal is not enough
A business that elected S corporation status federally often assumes New York agrees. It does not, automatically, and the gap can mean the state taxing the company as a C corporation and a nasty correction later.
How we handle it
New York requires its own S election on Form CT-6, separate from the federal Form 2553. Until New York accepts it, the state generally does not treat you as an S corporation, whatever your federal status. We confirm your New York S status, file the CT-6 where it is missing, and make sure the election, the reasonable owner salary that supports it, and the distribution treatment all line up on the New York return. If a prior year was filed on the wrong assumption, we flag it so it can be corrected before the state does.
What you get: New York S status confirmed and the CT-6 filed where it was missing.
Service 03
The PTET election, filed and reconciled
The pass-through entity tax remains one of the biggest levers for high-earning Long Island pass-through owners, and it is the one most commonly missed because it lives outside the normal return and follows a strict separate calendar.
How we handle it
We confirm the PTET pays for your situation under the current federal SALT cap (roughly 40,000 dollars through 2029, phasing back toward 10,000 dollars above about 500,000 dollars of income), make the annual election by the March 15 deadline (which has no extension) through the entity's Business Online Services account, calculate and schedule the quarterly estimated payments, file the annual PTET return, and reconcile the resulting credit onto each owner's New York personal return so the deduction actually converts into cash saved. Done piecemeal by separate bookkeepers and preparers, this is exactly where the benefit leaks; done by one team, it lands cleanly.
What you get: The PTET elected on time and reconciled onto each owner's personal return.
Unsure your last return got the New York elections and the MCTMT right? Have a CPA review it before the next filing.
Estimated taxes, the MCTMT, and the deadlines that govern the year
Business tax depends on deadlines across the whole year, and Long Island adds the MCTMT. Miss the pass-through deadlines, underpay the estimates, or forget the MCTMT, and you add penalties to a bill that was avoidable.
How we handle it
We manage the calendar: 1099-NEC to contractors by January 31; S corporation and partnership returns and the PTET election due March 15; C corporation and personal returns due April 15; six-month extensions filed where needed, with the reminder that an extension to file is not an extension to pay. Because Long Island is inside the transportation district, we also handle the MCTMT for employers and the self-employed version for owners over the earnings threshold. Federal and New York estimated payments are sized off your live numbers and a safe-harbor calculation, so you avoid underpayment penalties without parking cash at the IRS.
What you get: Safe-harbor estimates and the MCTMT managed across the full deadline calendar.
Service 05
Clean books in, a defensible return out
A return is only as good as the books under it. Filed off a ledger that does not reconcile, even a technically correct return sits on a foundation an auditor can dismantle.
How we handle it
Because we keep books to a books-to-bank reconciliation standard, the return is built on numbers that tie out: reconciled cash, clean owner accounts, documented fixed assets and depreciation, and contractor detail that supports the 1099s. If you come to us at filing time with books that are behind or wrong, cleanup comes first, quoted as a one-time project, because filing off bad books just moves the problem into an amended return later. The deliverable is a return your lender, the IRS, and New York State can all rely on.
Service 06
The owner's personal return, coordinated with the business
For most Long Island small businesses, the business and the owner's personal taxes are one connected problem. Filed by two different people, the K-1, the PTET credit, and the estimated payments fall through the gap between them.
How we handle it
We prepare the owner's personal return (Form 1040 and New York IT-201) alongside the business return, so the K-1 flows correctly, the PTET credit is claimed, the home-office and vehicle positions are consistent, and the personal estimated payments account for the business income. One team sees both sides. For owners whose personal situation is more involved, our personal tax accountant page covers the individual side in depth.
What you get: The owner's personal return prepared alongside the business, with every credit lined up.
FAQ
Frequently asked questions
Do you file both the federal and New York business returns?
Yes. We prepare the federal return for your entity and the matching New York return (CT-3-S, IT-204, or CT-3), plus the owners' personal returns. Long Island businesses file federal and New York returns only; there is no county or New York City business tax layer here.
We elected S corp federally. Are we set for New York?
Not necessarily. New York requires a separate S election on Form CT-6. Without it, New York can tax you as a C corporation. We check your New York S status and file the CT-6 if it is missing, and flag any prior year that was filed on the wrong assumption.
Do Long Island businesses owe the MCTMT?
Once payroll passes the exemption, yes. Long Island is inside the Metropolitan Commuter Transportation District, so employers owe the MCTMT above 312,500 dollars of quarterly payroll expense, and self-employed owners over the earnings threshold owe it too. We handle it alongside the returns and the payroll.
When are the business tax deadlines?
1099-NEC to contractors by January 31; S corporation and partnership returns and the PTET election March 15; C corporation and personal returns April 15; six-month extensions available, though an extension to file is not an extension to pay. We manage the full calendar, including the MCTMT and PTET dates.
How much does business tax preparation cost?
It depends on your entity, complexity, and whether cleanup is needed first. We quote a flat, specific price up front rather than an hourly meter, usually within one business day of seeing your details.
Do you prepare returns for contractors and the trades?
Yes, the business return and the owner's. The items that decide a contractor's tax: the accounting method for long jobs (cash, accrual, or percentage-of-completion), work in progress on the return, the New York capital-improvement versus repair sales tax split, Section 179 and bonus depreciation on vehicles and equipment, and the S corporation and PTET elections for a profitable shop.
Do you prepare returns for medical and dental practices?
Yes, for the practice and its owners. The items that matter at practice income levels: entity choice (an S corporation is common), reasonable owner compensation, equipment depreciation, retirement-plan contributions that shelter high income, and the PTET election modeled per owner.
Do you prepare returns for restaurants and cafes?
Yes, for the business and its owners. The items that matter: the FICA tip credit on the employer payroll tax paid on reported tips, which is real money most preparers skip, Section 179 and bonus depreciation on equipment and build-out, cost of goods sold, and a return that reconciles to the sales tax you filed.
Do you prepare returns for e-commerce and retail sellers?
Yes, for the business and its owners. The items that matter: inventory and cost of goods sold accounting, sales tax nexus across states and the marketplace facilitator rules, fulfillment and home-office treatment, and the entity and PTET elections as the business scales.
Do you prepare returns for law firms and professional services?
Yes, for the firm and its owners. The items that matter: the cash versus accrual method, client trust funds kept out of income, partner and shareholder compensation, the PTET election that is often a partner group's largest lever, and the qualified business income deduction limits that apply to specified service businesses at higher incomes.
Do you prepare returns for real estate investors?
Yes, for investors, landlords, and property managers. The items that matter: depreciation and cost segregation to accelerate deductions, the passive activity loss rules and the real estate professional status that can unlock them, 1031 like-kind exchanges, and per-entity returns when properties sit in separate LLCs.
Sources & authorities
Primary sources for this page
The pass-through entity tax.New York's PTET: the election, the March 15 deadline, and the credit each owner claims.
New York S corporation election.Form CT-6 and its instructions: New York requires its own election, and approval before you file CT-3-S.
Corporate franchise tax.Article 9-A: the business income rate, the capital base and the fixed dollar minimum.
Contractor reporting.Form 1099-NEC: who gets one, the threshold, and the January 31 deadline.
This page summarizes New York State tax rules for general information, and is not tax advice for your situation. Rates and thresholds change; confirm the current figures with the authority before you rely on them.
