Bowery NYC Unincorporated Business Tax Worksheet Kept in this browser Demo
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Tax Years
Payments
The NYC-202, line by line, and the credit that often wipes it out
Tax Years
Whether gross business income crossed $95,000, and if so the NYC-202 worked through: allowance, exemption, 4% tax, business tax credit.
 
Payments
The tax due with each return, and the estimate declaration when next year's tax is expected over $3,400.
 
These Records
Where they are kept, and how to take them to your preparer.
 
Tax Years×

An individual carrying on a business wholly or partly in New York City - a one-member LLC counts as a sole proprietor - files Form NYC-202 when total gross business income, wherever earned, is over $95,000. The return takes the business income allocated to the City, allows 20% of it (no more than $10,000) for the owner's own services, then a $5,000 exemption (prorated for part of a year), and charges 4%. A tax of $3,400 or less is wiped out by the business tax credit; $5,400 or more gets none; between, the credit is tax × ($5,400 − tax) ÷ $2,000. Due April 15.

Payments×

The tax left after the credit is paid with the return. If next year's tax can reasonably be expected to exceed $3,400, a Declaration of Estimated Unincorporated Business Tax (NYC-5UBTI) is due on the 15th day of the fourth month of that year - see NYC-5UBTI for the installments.

These Records×
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