Will My NY State C-Corporation have to pay any minimum tax if there are no Profits?
Will I have to pay any minimum Corporation Tax for my NY State C Corporation even if my C Corporation has Zero profits, in fact, I seem to have a small loss?
What is the minimum NY State C Corporation Tax Liability?
NY State has a rather complicated mechanism to calculate the minimum corporation tax. It is function of a combination of factors such as gross receipts, payroll and total average assets.
However, for your situation, if we assume there are minimum assets, neglible payroll and a tax loss incurred in 2007, then the minimum corporation tax liability would be only $100.
Linear Mode
