New York has three layers of tax. We keep all of them straight.
A Queens business can owe federal tax, New York State tax and New York City tax, each with its own forms and dates. We file them together so nothing is missed.
Taxes Queens businesses commonly owe
| Tax | Who pays | Notes |
|---|---|---|
| NYS sales tax | Stores, restaurants, salons and most retail | Register before you open; file quarterly or more often depending on sales |
| NYC Unincorporated Business Tax | Sole proprietors, partnerships and LLCs doing business in NYC | 4% of business income, with small-business credits |
| NYC General Corporation Tax | S-Corporations doing business in NYC | 8.85%; NYC does not recognize the S election |
| NYC Business Corporation Tax | C-Corporations doing business in NYC | Separate city return from your state return |
| NYS franchise tax & LLC fee | Corporations and LLCs registered in New York | Annual filing; amount depends on income |
| NYS & NYC personal income tax | NYC residents and business owners | Filed together on your state return |
Sources: NY Tax Dept: How to register for sales tax · NYC Finance: Unincorporated Business Tax · NYC Finance: General Corporation Tax instructions (S corporations) · NYSSCPA: New York City taxes primer
New York’s pass-through entity tax (PTET)
New York lets partnerships and S-Corps elect to pay state tax at the business level. The business deducts it on the federal return, which can work around the federal SALT cap, and the owners take a credit on their personal New York return. New York City has its own version for city tax.
The election must be made each year by the state’s deadline, and it is not right for every business. We check whether it saves you money during the free consultation.
Frequently asked
Do I need to collect sales tax?
Most retail stores, restaurants and many service businesses in New York must register and collect sales tax. We can help you register and keep the records.
Does living in NYC change my personal taxes?
Yes. NYC residents pay city income tax on top of state and federal tax. It is filed with your New York State return.
Sources: NY Tax Dept: How to register for sales tax · NYC Finance: Unincorporated Business Tax · NYC Finance: General Corporation Tax instructions (S corporations) · NYSSCPA: New York City taxes primer · NY Tax Dept: Pass-through entity tax
Figures and rules on this page come from the official and published sources linked above, as of November 2026. People and numbers in the examples are made up to explain the idea. This page is general information, not tax or legal advice for your situation, and laws change; check the linked source or ask a licensed CPA before you act.
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