Form NYC-3L, Schedules E, F, and G, and alternative tax worksheet aren't printing

Form NYC-3L instructions state that Schedules E, F, and G, and the alternative tax worksheet aren't needed if the corporation is exempt from alternative tax on capital and entire net income.
A corporation is exempt from determining the alternative tax on capital and the alternative tax on entire net income plus compensation when they have the following:
  • Gross income, as defined under ยง61 of the Internal Revenue Code, of less than $250,000,
  • A business allocation of 100%
  • No investment capital or income, or subsidiary capital or income.
If a corporation meets the criteria, they may be eligible to file Form NYC-4S or Form NYC-4S-EZ.
Corporations who meet the criteria but aren't eligible to file Form NYC-4S or NYC-4S-EZ need to use Form NYC-3L. They don't need to complete Schedules E, F, and G, or the alternative tax worksheet.
Chat now

error-icon

Triva isn't available right now.

Check out the support page for our phone number and hours

error-close