New York Minimum Tax for General Business Corporation
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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.
Unless the corporation qualifies for a preferential rate, the fixed dollar minimum (FDM) tax is determined by the corporation's New York State receipts.
Fixed dollar minimum tax
| For a corporation with New York State receipts of: | FDM tax |
| 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 |
Preferential tax rates
Certain corporations may receive a preferential rate for the FDM as well as the tax rate, as follows.
FDM tax for qualified New York manufacturers and qualified emerging technology companies
| For a corporation with New York State receipts of: | FDM tax |
| Not more than $100,000 | $19 |
| More than $100,000 but not over $250,000 | $56 |
| More than $250,000 but not over $500,000 | $131 |
| More than $500,000 but not over $1,000,000 | $375 |
| More than $1,000,000 but not over $5,000,000 | $1,125 |
| More than $5,000,000 but not over $25,000,000 | $2,625 |
| Over $25,000,000 | $3,750 |
FDM tax for non-captive REITs and non-captive RICs
| For a corporation with New York State receipts of: | FDM tax |
| 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 |
| Over $500,000 | $500 |
Business Income Base
| Business Income Base | Tax rate |
| Qualified New York manufacturers | 0.00 |
| Qualified emerging technology companies | 0.04875 |
| General business taxpayers with a business income base of more than $5,000,000 | 0.0725 |
| All other general business taxpayers | 0.065 |
Capital Base
| Capital Base | Tax rate |
| Qualified New York manufacturers, qualified emerging technology companies, cooperative housing corporations, and small business taxpayers | 0.00 |
| All other general business taxpayers | 0.001875 |
Additional Information: