Business Owner's Manual

State Taxes

There are several handbooks for small and new businesses that offer guidance on state tax issues and include many of the necessary forms. They can be ordered by calling 1-800-462-8100. Some of this material, as well as forms and information, is also available from the New York State Department of Taxation and Finance site. Here is a partial listing of some of the publications that you may need to consult:

• Publication 20: New York State Tax Guide for New Businesses
  
  
• Publication 750: New York State Guide to Sales Tax
  
  Note: A sales tax number is required for all businesses that sell taxable goods. The Application for registration, Form DTF-17, is available online, or by fax or mail from the State (see below). After filing, you will receive a Certificate of Authority which must be posted at your place of business.
  
  
• Publication WT-100: New York State Tax Guide to Withholding Tax and Wage Reporting (applicable if you have employees)
  

 

Important Issues

For state, as well as federal taxes, there are a number of important issues to keep in mind:

• In addition to federal withholding, you are required to deduct State and City income taxes from employees' pay. Publication WT-100 provides the essential information, including withholding tax tables and employees instructions.
  
  
• State income taxes are imposed on corporations, partnerships, sole proprietorships, and LLCs in the same manner as federal income taxes.