What is New York State Franchise Tax?

Businesses in New York State must pay an annual franchise tax. For S-Corps, this tax is due every year on March 15, the deadline for tax returns.

How much is due can be determined at this link https://www.tax.ny.gov/forms/current-forms/ct/ct3si.htm#fdm-schedule

Read more details and explanations at this link https://www.tax.ny.gov/bus/ct/s_corporations_post.htm

The best way to pay the New York State Franchise Tax is to have your Accountant schedule a Direct Debit payment with your NY Business Tax Return.

Alternatively, you may pay online here https://www.tax.ny.gov/online/createaccount.htm#bus
Or mail paper vouchers which can be provided to you (this is not recommended)

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