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New York
Corporate Income Tax Rate at a Glance
New York's top corporate income tax rate is 7.25%, applied as graduated brackets. This places New York in the "Moderate (5–7.99%)" tier among U.S. states.
Rate Structure (Flat vs. Graduated)
Article 9-A franchise tax on business income: 6.5% for taxpayers with business income $5 million or less; 7.25% for taxpayers with business income over $5 million (rate raised in 2021, extended through 2026). Alternative bases: 0.1875% capital base ($5M cap) or fixed dollar minimum based on NY receipts ($25-$200,000).
Franchise Tax / Annual Privilege Tax
New York's corporate income tax is structured as the Article 9-A 'Franchise Tax on Business Corporations.' Multiple tax bases apply (income, capital, fixed dollar minimum) and the corporation pays the highest amount.
S-Corp & Pass-Through Treatment
New York recognizes federal S-corp election but requires a separate NY S-election (Form CT-6). NY S-corps still pay a Fixed Dollar Minimum tax. Pass-through entities may elect to pay PTET (Pass-Through Entity Tax) at graduated rates up to 10.9% on NY-source income.
Official State Revenue Department
For current corporate tax rules in New York, consult the state's official source at https://www.tax.ny.gov/bus/ct/article9a.htm. Rates and rules change annually — verify with a qualified tax professional before taking any action.
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Corporate income tax rates change frequently as states enact reform packages and phase-down schedules. Always verify current rates with the state's department of revenue and your tax advisor before making business decisions. This information is for educational purposes only and is not tax or legal advice.