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If you work for the City of New York but live outside New York City and were hired on or after January 4, 1973, you must file Form NYC-1127 and pay the City an amount equal to the personal income tax you would owe if you lived in New York City.
Any partnership that carries on or liquidates any trade, business, profession or occupation wholly or partly within New York City and has a total gross income from all business regardless of where carried on of more than $25,000 (prior to any deduction for cost of goods sold or services performed) must file an
If you have two or more Unincorporated Businesses, all are treated as one for the purpose of this tax. A 4% tax rate is charged for taxable income allocated to New York City.
What Activities are Subject to This Tax? Unincorporated Businesses include: trades, professions, and certain occupations of an individual, partnership, limited liability company, fiduciary, association, estate or trust. The business can be active or in the process of being liquidated.
Taxpayers that are required to file an Unincorpo- rated Business Tax Return but have no tax liability may be eligible to file a Form NYC-204EZ.
New York City residents must pay a personal income tax, which is administered and collected by the New York State Department of Taxation and Finance. Most New York City employees living outside of the five boroughs (hired on or after January 4, 1973) must file form NYC-1127.
Who Must File Who Must Pay. The Unincorporated Business Tax (UBT) is imposed on any individual or unincorporated entity that is carrying on or currently liquidating a trade, business, profession, or occupation within New York City.
Income tax responsibilities must file Form IT-204, Partnership Return if it has either (1) at least one partner who is an individual, estate, or trust that is a resident of New York State, or (2) any income, gain, loss, or deduction from New York sources (see instructions).