Does Your New York Office Qualify for Work From Home Tax Savings?
New York’s Unincorporated Business Tax (UBT) is calculated based on individual employees’ time spent in NYC. Stop overpaying taxes by collecting employees’ out-of-city time. 50% less time in the city may mean a 50% reduction in UBT owed.
Learn how to reduce your tax bill
- NYC UBT is an entity-level tax on partnerships, LLCs, and other unincorporated businesses
- Imposed at 4% rate
- For service providers: based on where services are performed
- Pandemic has had a monstrous impact on state taxes, esp. in NYC
…is Tomorrow’s opportunity
- If the individuals generating charges are located outside of NYC, the law allows you to execute from UBT apportionment
- In other words, focus on the location where income-generating employees are
- Ensure your organization has an battle-tested defense in case of audit
Download our NYC UBT One-pager to Explain How to Save More Now
Simple Math = Significant Savings
“Tax-savvy companies can potentially avoid millions in overpaid tax related to overreporting compensation for work done outside of large city limits. A technology platform that can identify work location with a high degree of accuracy combined with advanced taxation and domain knowledge can be a powerful combination to substantiate tax reductions.”
Steven Winter, Grant Thornton Tax Partner