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Mark Taylor
Mark Taylor, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 2280
Experience:  Certified Public Accountant
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S-Corp incorporated in NJ, business located in NJ and 90% of

Customer Question

S-Corp incorporated in NJ, business located in NJ and 90% of business takes place in NJ. If 10% of business is performed in NY do you need to file a NY S-Corp return?
Submitted: 1 year ago.
Category: Tax
Expert:  Mark Taylor replied 1 year ago.

Hi, my name is Mark. I will be happy to help you with your questions. What kind of services are being performed in New York? Do you have an office in New York?

Customer: replied 1 year ago.

No office in NY. It is a steel construction company that performs some jobs in NYC

Expert:  Mark Taylor replied 1 year ago.

Since you are performing services in NY you will need to file a NY S-Corporation return. There are several factors that states use to determine how income should be allocated. These are based on sales, fixed assets, rental expense. So only a small amount would be allocated to NY.

Expert:  Mark Taylor replied 1 year ago.

https://www.tax.ny.gov/pdf/current_forms/ct/ct3s.pdf ​ Pages 4 and 5 detailed the factors that NY used to determine the amount that gets allocated to NY.

Expert:  Mark Taylor replied 1 year ago.

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