Form NYC-245 "Activities Report of Business and General ... 2025

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The document is an Activities Report for Business and General Corporations that must be filed by corporations claiming exemption from the New York City General Corporation Tax or Business Corporation Tax. It outlines the necessary information required for filing, including corporate details, operational status, and activities conducted in New York City. The report serves as a declaration of non-liability for tax purposes and includes instructions on filing deadlines and conditions under which corporations are exempt from taxation.

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Click ‘Get Form’ to open it in the editor.
Begin by entering your corporation's name, Employer Identification Number (EIN), and contact information in the designated fields. Ensure accuracy as this information is crucial for identification.
Indicate the type of corporation by checking the appropriate box (Business Corporation or General Corporation) and provide details about your business activities in New York City.
Fill out Section 1 regarding offices and other places of business in NYC, detailing each location, nature of activity, and date established.
Complete Section 3 by listing officers, agents, and representatives in NYC along with their official titles and residence addresses.
Answer questions in Section 6 regarding property ownership, employment of assets, and any other relevant activities. Attach additional schedules if necessary.
Finally, certify the report by signing it as an elected officer of the corporation before submitting it through our platform for a streamlined process.

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Who is subject to NYC general corporation tax?

All domestic and foreign S corporations and qualified S subsidiaries in New York City that are: Doing business; Employing capital; Owning or leasing property, in a corporate or organized capacity; or.

What is form NYC 204?

If an amended federal or New York State return is filed reflecting a change in unincorporated busi- ness income or deductions, an amended Unincor- porated Business Tax return must be filed within 90 days. Use Form NYC-204 to file an amended return and check the box on page 1.

What is the NYC 245 activities report of business and general corporations?

The NYC Activities Report Form NYC-245 is required for corporations claiming exemption from the General Corporation Tax. This form captures essential information regarding business operations in New York City. Proper filing ensures compliance with NYC financial regulations.

How much is the NYC general corporation tax?

Minimum Tax Amounts and Adjustments The minimum tax amount under GCT varies based on a corporations NYC receipts: Receipts up to $100,000: $25 minimum tax. $100,001$250,000: $75 minimum tax. $250,001$500,000: $175 minimum tax.

Who must file NYC 4S?

FILE FORM NYC-4S Corporations (as defined in Section 11- 602.1 of the New York City Administra- tive Code) doing business, employing capital, or owning or leasing property in a corporate or organized capacity, or main- taining an office in New York City must file a General Corporation Tax return.

What is NYC form 245?

The purpose of the NYC-245 form is to provide the NYC Department of Finance with information from corporations that claim exemption from the General Corporation Tax. It helps the city assess compliance and accurately track the taxation liabilities of corporations conducting business within its jurisdiction.

Form NYC-245 "Activities Report of Business and General ... 2025

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How to use or fill out Form NYC-245 'Activities Report of Business and General Corporations' with our platform