Unincorporated Business Tax

Yes, there’s another tax that your have to look out for in New York City, the Unincorporated Business Tax.

  • It has a total gross income of more than $25,000 for a partnership or more than $75,000 for any other type of unincorporated business, prior to any deduction for the cost of goods sold or services performed; or
  • It has an unincorporated business taxable income of more than $15,000 for a partnership or more than $35,000 for any other type of unincorporated business.

Filing Deadlines
Unincorporated businesses that use a calendar year accounting period must file their UBT return by April 15th of the following year.

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2 thoughts on “Unincorporated Business Tax

  1. Can a partner of an LLP who is not a resident of NYC, deduct his parnter’s share of the LLP’s unincorporated business tax as a tax paid, like state and property tax on Schedule A itemized deductions for federal income tax purposes?

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