Corviniti/Local Services/Business Tax Preparation in New York City
Local Services / New York / New York City
Business Tax Preparation in New York City
Federal, New York State, and New York City business returns filed from reconciled books, with the UBT, the S election, and the state and city PTET handled, and no April surprises.
What it is. Preparation and filing of your federal, New York State, and New York City business returns, plus the owner's personal return, by a CPA working from reconciled books, with the city taxes and elections handled.
Where the value is. The New York City layer and the elections: the UBT, the entity-level city tax on S corporations, the state and city PTET, and estimated taxes managed so the return has no surprises.
Why a New York City firm. New York City business tax has its own forms and its own rules. A preparer who does not live in the city rules leaves the UBT, the city PTET, and the city corporation tax on the table or gets them wrong.
Corviniti prepares and files business tax returns for New York City companies across all three layers: the federal return, the matching New York State return, and the New York City return that a business outside the city generally does not file. That covers S corporations, partnerships and multi-member LLCs, C corporations, and single-owner businesses on Schedule C, together with the owners' personal returns. Every return is prepared by a CPA from reconciled books, so filing pulls from finished books and avoids the year-end reconstruction billed at tax-season rates.
The value of good business tax preparation in New York City is in the city layer that a preparer working outside it misses: the 4 percent Unincorporated Business Tax on sole proprietors and partnerships, the 8.85 percent city tax the company pays because New York City does not recognize the S election, the separate New York State S election on CT-6, and the state and city PTET modeled per owner now that the 2025 federal law raised the SALT cap. Get those right and the return is lower and cleaner; get them wrong and no amount of careful data entry recovers it.
For New York City businesses, we keep books, plan taxes, and file returns under one roof, so the return is prepared by the same people who know your numbers, and the planning that lowers it happens during the year. 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. New York City adds a second PTET on top.
How the PTET works, with and without the election. Illustrative, not tax advice.
City business taxes
The New York City layer on a business return
Every New York City business files a city return on top of the federal and state ones. The UBT, the city corporation tax, the city PTET, and the Commercial Rent Tax, on one page.
The New York City business taxes. Current NYC law; illustrative, not tax advice.
Which return
Which returns does your business file
Each entity type files a federal return, a matching New York State return, and a New York City 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 city return was done right.
You never filed New York's CT-6, or you did not know New York City taxes your S corporation.
You are a profitable pass-through and have never heard your preparer mention the state or city PTET.
Your books are behind and a filing deadline is coming.
What you get
All three layers filed The federal return, the New York State return, and the New York City return, tied to the books and to each owner's K-1.
The Unincorporated Business Tax Determined, filed on the city's forms, and reduced with the exemptions and credit, then coordinated with the personal return.
The elections that cut the bill The CT-6 S election and the state and city PTET, elected on time and reconciled onto the personal returns.
The owner's return, coordinated Prepared alongside the business return so the K-1, the credits, and the city income tax all line up.
How We Help
What you get
Federal, New York State, and New York City business returns prepared from reconciled books, with the city taxes and elections that lower the bill.
All three layers filedThe federal return, the New York State return, and the New York City return, tied to the books and to each owner's K-1.
The Unincorporated Business TaxDetermined, filed on the city's forms, and reduced with the exemptions and credit, then coordinated with the personal return.
The elections that cut the billThe CT-6 S election and the state and city PTET, elected on time and reconciled onto the personal returns.
The owner's return, coordinatedPrepared alongside the business return so the K-1, the credits, and the city income tax all line up.
When companies bring us in
You need your business return filed and are not confident last year's city return was done right.
You never filed New York's CT-6, or you did not know New York City taxes your S corporation.
You are a profitable pass-through and have never heard your preparer mention the state or city PTET.
Your books are behind and a filing deadline is coming.
The Detail
The gaps, and how we close each one
Service 01
The right returns for your entity: federal, state, and city
Each entity type files differently at each of three levels, and the New York City return is the one owners and out-of-town preparers forget. Mismatches between the books, the federal return, the state return, and the city return are where problems start.
How we handle it
We prepare the federal return for your structure, 1120-S, 1065, 1120, or Schedule C, the matching New York State return, CT-3-S, IT-204, or CT-3 under the Article 9-A franchise tax, and the New York City return: a C corporation files the city Business Corporation Tax at 8.85 percent, an S corporation files the city General Corporation Tax at 8.85 percent because the city taxes it as an entity, and a sole proprietor or partnership files the Unincorporated Business Tax. Owner K-1s tie to the returns, and the returns tie to the books, so all four reconcile and an examiner has nothing to pull on.
What you get: Federal, New York State, and New York City returns that tie to each other and to the books.
Service 02
The Unincorporated Business Tax, filed and planned
The Unincorporated Business Tax catches New York City owners who assume a pass-through pays no entity-level tax. It can in the city: a sole proprietor, partnership, or LLC can owe 4 percent on New York City business income, and the return is separate from everything else.
How we handle it
We determine whether the UBT applies, file it on the city's forms (NYC-202 for an individual or single-member LLC, NYC-204 for a partnership), and claim the exemptions and the credit that reduce it: a 5,000 dollar base exemption, a deduction for owner services, and a credit that fully offsets the tax at lower income and phases out as profit grows. New York City residents also get a partial credit against the city income tax on the personal return for the UBT paid, which we coordinate so the same dollars are not taxed twice. Filing is required once business gross income passes 95,000 dollars, and we track that threshold so the filing is not missed.
What you get: The Unincorporated Business Tax determined, filed, reduced, and coordinated with the personal credit.
Service 03
The S election and the state and city PTET
Two of the biggest levers for a New York City pass-through are the ones most commonly mishandled: the separate New York State S election, and the state and city pass-through entity taxes that live outside the normal return on a strict calendar.
How we handle it
New York requires its own S election on Form CT-6, separate from the federal Form 2553; we confirm your New York S status and file it where it is missing. Separately, we model whether the PTET pays under the current SALT cap and whether the New York City PTET adds to it for a partnership with city-resident partners or an S corporation whose shareholders are all city residents, make both elections online together by the March 15 deadline (which has no extension), schedule the quarterly estimated payments, and reconcile the resulting credits onto each owner's personal return so the deduction converts into cash saved.
What you get: The CT-6 S election confirmed and the state and city PTET elected and reconciled.
Unsure your last return got the New York City layer right? Have a CPA review it before the next filing.
Estimated taxes and the deadlines that govern the year
Business tax depends on deadlines across the whole year, and the city adds its own. Miss the pass-through deadlines or underpay the estimates 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 elections due March 15; C corporation and personal returns due April 15; the New York City business returns and UBT alongside them; six-month extensions filed where needed, with the reminder that an extension to file is not an extension to pay. Federal, New York State, and New York City estimated payments are sized off your live numbers and a safe-harbor calculation, so you avoid underpayment penalties without parking cash with the tax authorities.
What you get: Federal, state, and city estimates sized to a safe harbor, with the full deadline calendar managed.
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, and New York City runs its own examinations.
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 the New York City income detail the UBT and city corporation returns need. 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, New York State, and the New York City Department of Finance can all rely on.
What you get: A return built on reconciled books that the IRS, the state, and the city can all rely on.
Service 06
The owner's personal return, coordinated with the business
For most New York City small businesses, the business and the owner's personal taxes are one connected problem, and the city income tax makes the personal side heavier than upstate. Filed by two different people, the K-1, the PTET credit, the UBT credit, and the city income tax fall through the gap.
How we handle it
We prepare the owner's personal return (Form 1040 and New York IT-201, which carries the New York City resident tax) alongside the business return, so the K-1 flows correctly, the state and city PTET credits are claimed, the UBT credit is claimed, and the personal estimated payments account for the business income and the city tax. 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 the federal, New York State, and New York City business returns?
Yes, all three. We prepare the federal return for your entity, the matching New York State return, and the New York City return (the Business Corporation Tax, the General Corporation Tax for an S corp, or the Unincorporated Business Tax), plus the owners' personal returns. Everything is filed from reconciled books by the same team, so the numbers tie out across all of it.
We elected S corp. How is it taxed in New York City?
New York City does not recognize the S election, so the city taxes the corporation itself at 8.85 percent under the General Corporation Tax, and the shareholders still report the income on their personal returns. That city cost is real and has to be in any S-corp decision. We handle the city return and coordinate it with the federal and state S returns.
Do I owe the Unincorporated Business Tax?
If you are a sole proprietor, partnership, or LLC doing business in New York City, often yes, at 4 percent on city business income, though exemptions and a credit reduce or eliminate it at lower income. Filing generally starts once business gross income passes 95,000 dollars. We determine whether it applies, file it, and coordinate the state credit for it on your personal return.
Can you still help if our books are a mess at filing time?
Yes. We clean up and reconcile first, quoted as a one-time project, then file from books that tie out. Filing off bad books just creates an amended return later, so cleanup is the right first step.
When are the business tax deadlines?
1099-NEC to contractors by January 31; S corporation and partnership returns and the PTET elections March 15; C corporation and personal returns April 15, with the New York City business returns alongside. Extensions are available, though an extension to file is not an extension to pay. We manage the full calendar.
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.
Contractor reporting.Form 1099-NEC: who gets one, the threshold, and the January 31 deadline.
This page summarizes New York State and New York City 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.
