If a business is incorporated in New York State or does business or participates in certain other activities in New York State, they may have to file an annual New York State corporation tax return to pay a franchise tax under the New York State Tax Law.
The way the tax is computed and the type of return filed will depend on the type of business the corporation conducts.
The fixed dollar minimum (FDM) tax is determined by the corporation's New York State receipts. TaxSlayer Pro will calculate this amount based on the current amounts of the FDM tax that are as follows:
For a corporation with New York State receipts of: | FDM |
Not more than $100,000 | $25 |
More than $100,000 but not over $250,000 | $75 |
More than $250,000 but not over $500,000 | $175 |
More than $500,000 but not over $1,000,000 | $500 |
More than $1,000,000 but not over $5,000,000 | $1,500 |
More than $5,000,000 but not over $25,000,000 | $3,500 |
More than $25,000,000 but not over $50,000,000 | $5,000 |
More than $50,000,000 but not over $100,000,000 | $10,000 |
More than $100,000,000 but not over $250,000,000 | $20,000 |
More than $250,000,000 but not over $500,000,000 | $50,000 |
More than $500,000,000 but not over $1,000,000,000 | $100,000 |
Over $1,000,000,000 | $200,0000 |
Additional Information: