Taxes on Business Income in New York

April 13, 2006

	Visited: 154
	Not rated
	Rate:

Okay, you've complied with all the state requirements for starting up your business and now you're on your way to success! We wish we could tell you to breathe easy at this point, but here's where it really gets tough on a state level — complying with the various filing and payment requirements. In New York, you're generally free to choose to operate your business as a corporation, S corporation, partnership, limited liability company (LLC), or sole proprietorship. However, the entity type you select for your business determines what type of fees and taxes you and your business pay for your business and on your business income. Here's what you'll need to know to get you squared away with New York: