Solely for NYC:

Aside from the miscellaneous filing and property taxes, the
major NYC business taxes are:

Unincorporated Business Tax - this tax applies to sole
proprietors and all entities that are treated as
partnerships (including an LLC that is treated as a
partnership for federal and state purposes).

The UBT generally passes through to the partners/members of
an entity, who get a credit for the amount paid against
their NYC individual income tax (thus, if a partner/member
is not required to file a separate return for NYC taxes,
there is no credit for the tax - i.e., nonresidents who are
partners in a partnership that conducts business in NYC
don't get a credit for the tax; unless they otherwise can
claim a credit for taxes paid to other states on their own
individual income tax returns for the state they reside in).

Corporation Tax - this tax applies to all corporations,
which includes S-corporations because NYC does not recognize
S-corporations as different from C-corporations.

There are also special tax regimes that apply to banking
corporations, insurance companies, and not-for-profits
(i.e., UBTI-type taxes).

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b3hks001[at]sneakemail.com wrote:

- quote -

I can only answer part of one of your questions.

The minimum NYS income tax for a NY C-Corporation is $100. I
don't know if NYC has an additional minimum tax.

There must be better reasons to choose between the various
small business entities than the minimum tax.

--
Vic Roberts
Replace xxx with vdr in e-mail address.

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Would appreciate if someone would tell me what are the
minimum taxes for various forms of [small] business entities
in NYC: LLC, C-Corp, S-Corp, Partnerships, etc.

I saw memtion of Serial LLC. Does that form apply in NYC?

TIA

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