New York · State and New York City taxes
CPA, bookkeeping & fractional CFO services in New York
New York businesses face some of the most layered taxes in the country, with state income tax, New York City income tax for residents and the NYC Unincorporated Business Tax for many partnerships and LLCs. CPA Torrance is a CPA-led firm based in Torrance, California that provides bookkeeping, tax planning, tax filing and fractional CFO support to New York businesses remotely.
- Serving all of New York remotely
- New York State and NYC filings tracked for you
- Monthly reporting included
In short
What taxes do New York City businesses pay?
A New York City business can owe federal tax, New York State tax and city tax. NYC charges its own income tax on residents, an Unincorporated Business Tax on many partnerships and LLCs, and a corporate tax on corporations. New York State and NYC also offer pass-through entity tax elections that can restore federal deductions limited by the SALT cap. CPA Torrance plans across all of these together.
- State income tax
- Graduated
- State sales tax
- 4% + local
- Key business tax
- NYC Unincorporated Business Tax
- How we serve
- Remotely, statewide
Services in New York
What we do for New York business owners
From Manhattan agencies and Brooklyn e-commerce brands to Long Island contractors and upstate manufacturers, New York businesses need careful compliance and planning. We provide monthly bookkeeping, federal and New York tax planning, filings and CFO reporting from one coordinated team.
Bookkeeping Services
- Monthly reconciliations in QuickBooks Online
- New York State and local sales tax tracking
- Payroll and contractor payment review
- Monthly profit and loss and balance sheet
- Catch-up and clean-up bookkeeping
Tax Planning & Strategy
- Entity and S corporation review
- New York PTET election analysis
- Federal and state estimated payments
- Multi-state income review
- Year-end tax planning meeting
Tax Filing & Compliance
- Federal business returns (1120, 1120S, 1065)
- New York CT-3, CT-3-S, IT-204 and NYC returns
- Owner individual returns
- IRS and state notice help
- Due-date tracking for every filing
Fractional CFO Services
- Cash-flow forecasts
- Budget versus actual reviews
- Margin and pricing analysis
- Lender- and investor-ready reporting
- Growth and hiring plans
New York tax planning
Planning around New York taxes
With state and city taxes on top of federal tax, New York planning has more moving parts, and more opportunities, than most states.
Book a 15-min callState and NYC PTET
New York offers state and city pass-through entity tax elections. We model whether electing saves you money each year.
Unincorporated Business Tax
Many NYC partnerships and LLCs owe UBT. We plan entity choice and owner pay with it in mind.
Residency and allocation
Owners who live outside the city or state need income allocated correctly to avoid paying twice.
Who we work with
New York industries we serve
We work with owner-led businesses across New York, with experience in the industries that drive the state economy.
Financial services
Advisory firms, funds and fintech startups with complex reporting.
Media and creative agencies
Project billing, contractors and margins.
Fashion and retail brands
Inventory, wholesale and e-commerce channels.
Real estate
Property owners, developers and management companies.
E-commerce sellers
Online brands with New York sales tax, inventory and multi-channel books.
Professional firms
Consultants, agencies and law firms billing by the hour, project or retainer.
Why New York businesses choose CPA Torrance
Areas we cover
Serving businesses across New York
Businesses in New York City, Brooklyn, Buffalo, Rochester, Albany work in finance, media, fashion, real estate and professional services. CPA Torrance helps New York businesses, including those owned from out of state, stay compliant and organized through remote meetings.
- New York City
- Brooklyn
- Buffalo
- Rochester
- Albany
- Syracuse
- Yonkers
- Long Island
- White Plains
- Ithaca
- Video meetings on your schedule
- Secure document portal for statements and returns
- Cloud accounting you can see any time
FAQ
New York business tax and accounting questions
Not covered here? A 15-minute call gets you a straight answer for your situation.
What financial services can CPA Torrance provide to New York businesses?
We provide monthly bookkeeping, federal and New York tax planning, business tax filing and fractional CFO services. Everything runs from one set of books, so your bookkeeper, CPA and CFO advisor work from the same numbers.
What is the NYC Unincorporated Business Tax?
It is a New York City tax on the business income of unincorporated businesses, including many partnerships, LLCs and sole proprietors operating in the city. Some small businesses get a credit that reduces or eliminates it.
Should my New York business elect the PTET?
Often, if you have significant pass-through income. The election lets the business pay state and city tax and may let owners deduct it federally. We model the result before the election deadline.
Do I owe New York tax if I work remotely from another state?
It depends on where the work is done and New York rules on remote work. We review your situation and allocate income correctly.
Can CPA Torrance work with New York businesses remotely?
Yes. We serve businesses across New York, including New York City, Brooklyn, Buffalo, Rochester, Albany, Syracuse, Yonkers, Long Island, White Plains and Ithaca, through video meetings, a secure document portal and cloud accounting you can see any time. Our office is in Torrance, California.
How do I get started?
Book a 15-minute call or request a free financial assessment. We review your books, tax position and systems and recommend the right mix of support for your New York business.
Get your New York books and taxes in order.
Book a call to review bookkeeping and tax planning for your New York business.