Business General Corporation Tax - GCT

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General Corporation Tax (GCT)

Effective for tax years beginning on or after January 1, 2015, the general corporation tax (GCT) only applies to subchapter S corporations and qualified subchapter S subsidiaries under the U.S. Internal Revenue Code. These corporations will continue to file GCT tax returns in tax years beginning on or after January 1, 2015, if they are otherwise taxable under the GCT. The applicable forms have not changed. All other corporations are now subject to tax under the business corporation tax and will file business corporation tax returns instead of GCT returns. For more information, see the Business Corporation Tax page.

Who must pay the general corporation tax?

All domestic and foreign S corporations and qualified S subsidiaries in New York City that are:

Doing business;

Employing capital;

Owning or leasing property, in a corporate or organized capacity; or

Maintaining an office.

Please note that New York City does not have an S corporation election and does not recognize a New York State S corporation election. In general, federal subchapter S corporations and qualified subchapter S subsidiaries are subject to the GCT.

If a corporation is not subject to the tax, but it has an officer, employee, agent or other representative within the five boroughs, it must nevertheless file Form NYC-245, Activities Report of Business and General Corporations.

Who is exempt from the general corporation tax?

The instructions to Forms NYC-3L and NYC-4S explain in detail which types of S corporations are exempt from the general corporation tax, including:

Dormant S corporations, which did not engage in any business activity or hold title to real property located in New York City

S corporations subject to tax under the banking corporation tax

S corporations subject to the utility tax, except vendors of utility services which are subject to the GCT

S corporations organized to hold title to property as described in sections 501(c)(2) or (25) of the Internal Revenue Code

Insurance corporations

Non-stock non-for-profit companies that are granted an exemption by the New York City Department of Finance

Limited-profit housing and housing development fund companies organized and operating under articles 2 and 11, respectively, of the Private Housing Finance Law

Tax Forms

General Corporation Tax - NYC-400

2024 General Corporation Tax (GCT) Forms

NYC-ATT-S-CORP - Calculation of Federal Taxable Income For S Corporations

NYC-EXT - Application for Automatic Extension of Time to File Business Income Tax Returns
File online with e-Services

NYC-EXT.1 - Application for Additional Extension
File online with e-Services

NYC-NOLD-GCT - Net Operating Loss Deduction Computation

NYC-3A - Combined General Corporation Tax Return
Download Instructions

Download General Corporation Tax Worksheet - You must attach this worksheet to amended returns reporting changes or corrections to taxable income or other bases of tax by the IRS or New York State DTF.

NYC-3A/B - Attachment to NYC-3A (Subsidiary Detail Spreadsheet)
NYC-3A-ATT - Attachment to NYC-3A (Schedules C,D,F and G for reporting Corporations and/or situations in which form NYC-3A/B is not required)

NYC-3L - General Corporation Tax Return
Download Instructions

Download General Corporation Tax Worksheet - You must attach this worksheet to amended returns reporting changes or corrections to taxable income or other bases of tax by the IRS or New York State DTF.

NYC-4S - General Corporation Tax Return
Download Instructions

Download General Corporation Tax Worksheet - You must attach this worksheet to amended returns reporting changes or corrections to taxable income or other bases of tax by the IRS or New York State DTF.

NYC-4S EZ - General Corporation Tax Return
Download Instructions

Download General Corporation Tax Worksheet - You must attach this worksheet to amended returns reporting changes or corrections to taxable income or other bases of tax by the IRS or New York State DTF.
File online with e-Services

NYC-9.5 - Claim for REAP Credit Applied to Business, General and Banking Corporation Taxes

NYC-9.6 - Claim for Credit Applied to Business and General Corporation Taxes

NYC-9.7 - UBT Paid Credit for General Corporation Taxpayers

NYC-9.8 - Claim for Lower Manhattan Relocation Employment Assistance Program (LMREAP) Credit Applied to Business, General and Banking Corporation Taxes

NYC-9.10 - Claim for Biotechnology Credit Applied to Business and General Corporation Taxes

NYC-9.12 - Claim for Beer Production Credit

NYC-222 - Underpayment of Estimated Tax by Business and General Corporations

NYC-245 - Activities Report of Business and General Corporations
File online with e-Services

NYC-399 - Schedule of New York City Depreciation Adjustments

NYC-399Z - Depreciation Adjustments for Certain Post 9/10/01 Property

NYC-400 for 2025 - Estimated Tax by Business and Subchapter S General Corporations
File online with e-Services

NYC-579-GCT - Signature Authorization for E-Filed General Corporation Tax Return

Archived General Corporation Tax (GCT) Forms (2023 - 2012)

2023

2022

2021

2020

2019

2018

2017

2016

2015

2014

2013

2012

Related Tax Forms

Power of Attorney POA-1

DOF-1 (Change of Business Information)
DOF-1 Online

Computer Data Request

Conciliation Conference Request

Conciliation Conference (CMVT) Request
For Use By NYC Commercial Motor Vehicles Taxpayers Only

Request for Consent to Dissolution (GCT)

Request for Supplementary Information for Consent to Dissolution

Electronic Transmittal of Tax Information

Commercial Motor Vehicle Tax (CMVT) Exemption Affidavit

Letter Ruling Request Form

Tax Status Report Application

Vendor Forms

Tax Credits

NYC Biotechnology Tax Credit

Automatic Extension

Businesses that are subject to GCT may get an automatic six-month extension by filing Form NYC-EXT. This extension is given only if the extension form is filed before the original due date for the return and the tax was estimated correctly and paid. The application will be denied if the estimated amount of tax is not correct or if it is not paid before the original due date.

Additional Extensions

A business with a valid six-month extension may request up to two additional 3-month extensions by filing Form NYC-EXT.1. A separate form must be filed for each 3-month extension requested.

Estimated Tax

If the corporation can reasonably expect its tax to exceed $1,000 for the taxable year, it must file Form NYC-400 (Declaration of Estimated Tax) and pay the estimated tax. Estimated tax can also be paid in installments. A payment of 25% of the tax liability for the preceding year is required as the first installment of estimated tax for the current year.

Estimated tax must be either:

Not less than 90% of the tax that is finally determined, or

Not less than the tax for the previous taxable year.

Tax Rates

Filing Deadlines

Annual returns and tax payments must be postmarked by March 15 of the following year, if the corporation chooses an accounting period that is based on the calendar year.

A corporation that uses an accounting period other than the calendar year (e.g., a fiscal year) must file a return on the 15 day of the third month after the close of its fiscal year.

If a due date falls on a weekend or a legal holiday, the filing must be made by the next business day.

Dissolution Requirement

Under Section 1004 of the Business Corporation Law, as of October 1, 2009, Tax Clearance must be obtained from Department of Finance when dissolving corporations that have done business in and incurred tax liability to the City of New York. You must complete the Request For Dissolution and mail to Department of Finance. Department of Finance will send a Dissolution Consent to the address provided on the Request. The Dissolution Consent must be attached to Certificates of Dissolution that are filed with the New York State Secretary of State.

If you are not an officer of the corporation, and are filing a Request for Dissolution on behalf of a corporation, you will need to obtain and submit a signed and dated Power of Attorney with your request.

Legal Authority
Title 11, Chapter 6 (Subchapter 2) Administrative Code Enabling Act: Chapter 772 of the Laws of 1966

Additional Information

Business Corporation Tax