How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Barbara Your Own Question
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 3775
Experience:  20+ years of experience in tax preparation; 25+ years of experience as a real estate/corporate paralegal.
Type Your Tax Question Here...
Barbara is online now
A new question is answered every 9 seconds

I want to sell my NYS business. what can I expect to have to

Customer Question

Hello. I want to sell my NYS business. what can I expect to have to pay in taxes?
JA: PayPal, Debitcard or credit card are all fine.
Customer: I mean...a percentage
JA: The Accountant will know how to help. Please tell me more, so we can help you best.
Customer: Just a ballpark. Is it "Sales Tax?" (8.75%?)
JA: Is there anything else important you think the Accountant should know?
Customer: Not really. Ill probably be seeling for about 100K
Submitted: 1 year ago.
Category: Tax
Expert:  Barbara replied 1 year ago.

Welcome to Just Answer. My name is ***** ***** I will be happy to assist you.

In New York, you will pay capital gains tax on the sale of your business. The highest possible rate you will pay is 8.80%.

Please remember that you will also pay capital gains tax at the federal level.

Let me know if I can assist you further.

Thank you and best regards,


Expert:  Barbara replied 1 year ago.

Just following up with you to see if you have any other questions about this topic. If so, please let me know, and I will be happy to assist you.

Best regards,