New York City Form NYC-202 is the Unincorporated Business Tax Return for Individuals and Single-Member LLCs that every self-employed person and single-member LLC owner doing business in New York City must file with the NYC Department of Finance when their unincorporated business income from city sources exceeds the filing threshold. The form calculates the 4% Unincorporated Business Tax (UBT) under NYC Administrative Code Title 11, Chapter 5, and getting it wrong can trigger penalties of up to 25% of the tax due plus interest that compounds daily.
The UBT catches many freelancers, consultants, and gig workers off guard because the city taxes them in addition to state and federal income tax. According to the NYC Department of Finance Annual Report, the UBT generates over $2.4 billion in annual revenue, with more than 90,000 individual filers submitting NYC-202 each year — and the agency reports a rejection or correction rate near 12% on self-prepared returns.
Here is what you will learn in this guide:
- 📋 Exactly who must file NYC-202 and who can skip it
- 🧾 Every line, box, and schedule on the Tax Year 2025 form (revised 12/25)
- 💼 Three full walk-throughs with named filers and real numbers
- 🏛️ How to file by mail, online via NYC e-Services, or through approved software
- ⚠️ The 10 most common mistakes and the penalty each one triggers
What NYC-202 Is and Who Must File It
Form NYC-202 is the official return used to compute and pay the New York City Unincorporated Business Tax, a 4% tax on the net income of unincorporated businesses carried on, in whole or in part, within the five boroughs. The tax applies to sole proprietors, single-member LLCs treated as disregarded entities, and individuals receiving self-employment income tied to a New York City trade or business. The Tax Year 2025 version of the form carries a revision date of 12/25 in the lower-left corner, and using an older revision can cause the Department of Finance to reject the return.
You must file NYC-202 if your unincorporated business has gross income from city sources of more than $95,000 (the filing threshold) or unincorporated business taxable income of more than $5,000. Even filers below those thresholds may need to file to claim a refund of estimated tax already paid. Single-member LLCs that have an EIN file the closely related NYC-202EIN instead, while multi-member partnerships file NYC-204.
Certain activities are exempt from UBT, including holding investments for one’s own account, performing services as an employee, and most real estate activities limited to the owner’s own property. The statute that creates this tax sits in NYC Admin Code §11-503, and ignoring it does not make the obligation go away — the Department of Finance routinely cross-checks federal Schedule C filings with New York State residency data to identify non-filers. A common misconception is that working from a home office in Brooklyn while serving out-of-state clients exempts the income from UBT. It does not, because the place where services are performed controls, not the client’s location.
Before You Start: Documents and Information You Need
Gathering everything before opening the form prevents the back-and-forth that causes most filing errors. The Department of Finance recommends pulling your federal return first because nearly every line on NYC-202 traces back to it. The NYC-202 Instructions PDF lists the required attachments in Part 1 of the booklet.
Pre-Filing Checklist:
- Federal Form 1040 with Schedule C or Schedule E — the starting point for net business income; missing it forces a manual recalculation that the auditor may reject.
- Federal Form 4562 for depreciation and Section 179 — NYC requires its own depreciation adjustment, so without 4562 you cannot complete Schedule B add-backs.
- Your Social Security Number and, if applicable, your single-member LLC’s EIN — mismatches trigger a hold under the agency’s identity-verification protocol.
- Prior-year NYC-202 — needed for net operating loss (NOL) carryovers, estimated tax credits carried forward, and consistency in allocation methods.
- Records of business income earned inside vs. outside NYC — used on Schedule C to allocate income; without source data you cannot apportion and must default to 100% city.
- Receipts for business expenses including rent, utilities, and contractor payments (1099-NEC copies) — the Department of Finance can demand substantiation up to six years later.
- Form NYC-5UBTI estimated tax payment receipts — entered on Line 21 as credits; missing them means paying twice.
- Any NYC-114 series credit schedules (114.5, 114.6, 114.7, 114.8, 114.10, 114.12) for credits like the biotechnology, film production, or relocation employment assistance credits.
- Bank routing and account numbers for direct debit if paying electronically.
- A signed Power of Attorney (Form POA-1) if a preparer is signing for you.
Where to Get the Form and How to Access It
The official Tax Year 2025 NYC-202 lives on the NYC Department of Finance Business Tax Forms page, refreshed each January with the new tax year’s version. Always download directly from nyc.gov rather than a third-party site, because aggregator copies sometimes lag a revision behind, and the OCR boxes on outdated PDFs misread when the city scans paper returns.
You can also access the form through the NYC e-Services portal, which lets you fill, validate, and submit online. The portal includes built-in math checks that catch the most common arithmetic errors, such as transposed digits on Line 17. Approved tax software vendors — including TurboTax Self-Employed, H&R Block Premium, TaxAct, and Drake — also support NYC-202 e-filing through the IRS Modernized e-File (MeF) program that New York City joined in 2014.
If you prefer paper, the Department of Finance mails forms on request through its forms-by-mail service or hands them out at the Manhattan Business Center at 66 John Street. A misconception filers carry is that the version posted on nyc.gov in January is final — it is not, and the Department of Finance occasionally posts a corrected revision in February or March. Check the revision date in the bottom-left margin against the current posted version before mailing.
Step-by-Step: How to Fill Out NYC-202 Line by Line
The 2025 NYC-202 has a header section, four numbered schedules (A, B, C, and D), and a signature block. Work top to bottom, left to right, and use black ink in block capital letters if filing by paper, because the agency’s OCR scanner rejects cursive and pencil. Each H3 below covers one field group with the six elements every filer needs.
Header: Taxpayer Name
The form opens by asking for your full legal name as it appears on your federal return. Enter your first name, middle initial, and last name in the order printed on your Social Security card. Maria Lopez writes MARIA E LOPEZ in the box. If you operate under a “doing business as” (DBA) name, that goes on the next line, not here. The most common mistake is using a nickname or shortened name like Mike instead of Michael, which causes a name-mismatch hold at the SSA cross-check stage and delays processing six to eight weeks. A misconception is that married filers should use a hyphenated last name even if their Social Security card shows only the maiden name; always match the SSA card exactly.
Header: Trade Name or Doing Business As
This field captures the name your business uses with customers, which may differ from your legal name. Enter the DBA exactly as it appears on your county clerk DBA certificate or LLC formation document. Lopez Design Studio is what Maria writes if that is the name on her Kings County DBA filing. If you have no DBA, leave this line blank rather than repeating your personal name. The most common mistake is entering a casual name like Maria’s Designs when the legal DBA is Lopez Design Studio; the mismatch triggers a Schedule C name-comparison flag. A misconception is that a single-member LLC’s name belongs on this line — it does not, because the LLC name goes on NYC-202EIN, not NYC-202.
Header: Business Address
Enter the street address where your business is conducted, including suite or apartment number. Use a physical address, not a P.O. Box, because the Department of Finance uses this address to determine borough-level allocation. Maria enters 123 ATLANTIC AVE STE 4, BROOKLYN, NY 11201. If you have multiple locations, list the primary one and attach a schedule with the others. The most common mistake is using your home address when you actually rent commercial space; the agency may then deny rent deductions claimed on Schedule B. A misconception is that a Manhattan business address increases your tax — UBT is a flat 4% citywide, so the borough listed does not change the rate.
Header: Social Security Number / EIN
Enter your nine-digit SSN in the boxes, one digit per box, with no dashes. Maria enters 123456789, not 123-45-6789. If your single-member LLC has an EIN, you should be filing NYC-202EIN instead, but if you are filing NYC-202 as a sole proprietor with both an SSN and an EIN, use the SSN here. The most common mistake is transposing two digits, which forces the return into manual review and can delay any refund by 90 days or more. A misconception is that you can use an ITIN in this box; the form requires an SSN, and ITIN holders must file under different procedures explained in Finance Memorandum 17-5.
Header: Date Business Began in NYC
Enter the date you first conducted business in New York City in MM/DD/YYYY format. Maria writes 03/15/2021 if she opened her studio that day. If your business existed elsewhere first and only later expanded into NYC, use the NYC start date, not the original founding date. The most common mistake is entering the federal Schedule C “started business” date, which may predate NYC operations and can trigger penalty calculations for years you did not actually owe UBT. A misconception is that the date must match the LLC’s New York State formation date; the field measures NYC operations, not legal formation.
Schedule A, Line 1: Net Income from Business
Line 1 captures the net profit or loss from your federal Schedule C, Schedule E, or Schedule F. Pull the bottom-line number from federal Schedule C, Line 31, and enter it here. Maria’s Schedule C shows $112,400 net profit, so she enters 112400 with no commas, no dollar sign, and no cents. If you have multiple Schedule Cs, add them and enter the sum, attaching a statement showing the breakdown. The most common mistake is entering gross receipts (Schedule C Line 1) instead of net profit (Line 31), which inflates UBT income by tens of thousands. A misconception is that home-office expenses already deducted federally must be added back here; they stay deducted, and only the items in Schedule B require add-back.
Schedule A, Line 2: Income from Rental Real Estate
Line 2 picks up rental real estate income from federal Schedule E, but only if the rental activity rises to a trade or business. Most passive rentals are exempt under NYC Admin Code §11-502(d) and should be entered as zero. Carlos Reyes, a real estate professional managing eight units full-time, enters his Schedule E Line 26 amount of 68500. If you own a single rental and meet the self-rental exemption, leave this line blank. The most common mistake is reporting passive rental income from a small two-family house, which is not subject to UBT and should not appear here. A misconception is that all rental income must be reported; only rentals that constitute a trade or business count.
Schedule A, Line 3: Other Business Income
This line captures business income not picked up on Lines 1 or 2, such as guaranteed payments to a single member, royalties tied to a trade or business, or recapture of depreciation. Enter the total in dollars only. Aisha Williams, a single-member LLC consultant, enters 4500 in royalties from a published professional handbook. If you have nothing to report, leave the line blank rather than entering zero, which keeps the OCR scan cleaner. The most common mistake is including investment interest or dividends here; those belong on a different return entirely and overstating them can trigger an investment-allowance audit. A misconception is that 1099-MISC income shown in Box 3 always goes here; it depends on whether it relates to your trade or business.
Schedule A, Line 4: Total Income (Sum of Lines 1–3)
Line 4 simply adds Lines 1, 2, and 3. Maria writes 112400, Carlos writes 68500, and Aisha writes her sum 254500. Double-check the addition, because the e-Services portal flags discrepancies but paper filings do not catch them until manual review. The most common mistake is forgetting to update Line 4 after correcting Lines 1–3, leaving a stale total that fails the checksum. A misconception is that this line equals federal “total income”; it does not, because the federal figure includes wages and investment income that UBT excludes.
Schedule B: Modifications (Add-Backs and Subtractions)
Schedule B adjusts federal income to match NYC rules. Common add-backs include charitable contributions deducted federally (NYC disallows them at the entity level), state and city income taxes deducted as a business expense, and the difference between federal and NYC depreciation. Common subtractions include the 50% exemption for self-employment retirement contributions and the wage-equivalent of services performed by the proprietor. Maria adds back 2200 in NYC tax deducted on her Schedule C. The most common mistake is forgetting to add back charitable contributions, which the Department of Finance flags through 1040 cross-checks. A misconception is that the federal 20% qualified business income deduction (QBI) reduces UBT; it does not, because UBT starts before QBI.
Schedule A, Line 6: Allowance for Active Owner Services
NYC grants a deduction for the value of services rendered by the active proprietor, capped at $10,000 per active owner. Enter $10,000 if you actively work in the business. Maria enters 10000. If you are passive, enter zero. The most common mistake is entering a higher number based on actual labor value; the cap is statutory under §11-509 and the agency will reduce it automatically. A misconception is that two co-owners on the same NYC-202 each get $10,000; NYC-202 has a single proprietor by definition, so only one allowance applies.
Schedule C: Business Allocation
Schedule C apportions income between NYC and elsewhere using a three-factor formula based on property, payroll, and gross receipts. If 100% of your business happens inside the city, check the box on Line 1 of Schedule C and skip the formula. Maria, who works only in Brooklyn, checks the box. Aisha, with 30% of receipts from New Jersey clients, completes the formula and arrives at an allocation percentage of 72.5%. The most common mistake is checking the 100% box when you actually do work outside the city, which overstates tax. A misconception is that “client location” controls allocation; it is the location where services are performed under §11-508.
Schedule A, Line 17: Tax Before Credits
Multiply allocated taxable income by 4%. Maria’s allocated income of $100,200 yields 4008. The form does the math automatically in e-Services; on paper, calculate it yourself and double-check. The most common mistake is forgetting to apply the allocation percentage before multiplying, which inflates tax. A misconception is that the rate changes based on income; the rate is a flat 4% under §11-503(a).
Schedule A, Line 18: UBT Credit (The $5,400 Credit and Phase-Out)
Filers with tax of $3,400 or less get a credit equal to 100% of the tax (zeroing it out). Filers with tax between $3,400 and $5,400 get a sliding-scale partial credit calculated using the formula in the instructions. Filers with tax above $5,400 get nothing. Maria’s $4,008 tax produces a partial credit of 2789 using the worksheet. The most common mistake is claiming the full credit when tax exceeds $3,400, which overstates the credit and causes a notice of deficiency. A misconception is that the credit phases out based on gross income; it phases out based on tax, not income.
Schedule A, Line 21: Estimated Tax Payments
Enter the total of all NYC-5UBTI estimated payments made during the year, plus any prior-year overpayment applied forward. Maria paid $1,000 on each of four quarterly due dates and enters 4000. The most common mistake is forgetting to include the prior-year credit-forward, which causes a refund to be missed. A misconception is that federal estimated tax payments count here; they do not, because UBT is a separate city tax with its own payment system.
Schedule A, Line 23: Balance Due or Refund
Subtract Line 22 (total credits and payments) from Line 17 (tax). A positive number means you owe; a negative number means a refund. Maria shows a small refund of 2781 and checks the “refund” box. The most common mistake is reversing the sign, leading to a payment when a refund is owed. A misconception is that small balances under $1 must still be paid; the Department of Finance does not collect amounts under $1 and does not issue refunds under $1.
Schedule D: Schedule of Officers, Partners, and Members
Single-member LLCs and sole proprietors fill out only the proprietor row. List your name, title (typically “Sole Proprietor” or “Member”), SSN, and percentage of ownership (100%). Aisha enters AISHA WILLIAMS, MEMBER, 987654321, 100. The most common mistake is leaving Schedule D blank assuming it applies only to multi-owner entities; the Department of Finance requires it even for single-owner filers. A misconception is that a spouse listed as an authorized user must appear here; only owners go on Schedule D.
Signature Block
Sign and date the bottom of the form in blue or black ink. Print your name, title, and daytime phone number. If a paid preparer assisted, they sign the preparer block and enter their PTIN. The most common mistake is failing to sign — an unsigned NYC-202 is treated as not filed under §11-526, and late-filing penalties accrue from the original due date. A misconception is that an electronic signature on a printed PDF counts; only a wet ink signature is accepted on paper returns, while e-Services uses its own e-signature flow.
Three Filled-Out Examples Using Real Scenarios
Three scenarios show how NYC-202 plays out in the most common situations.
Scenario 1: Maria Lopez, Freelance Graphic Designer in Brooklyn
| Form Section | What Maria Enters |
|---|---|
| Taxpayer Name | MARIA E LOPEZ |
| DBA | LOPEZ DESIGN STUDIO |
| Business Address | 123 ATLANTIC AVE STE 4, BROOKLYN, NY 11201 |
| Date Business Began in NYC | 03/15/2021 |
| Schedule A, Line 1 (Net Schedule C) | 112400 |
| Schedule B Add-Backs (NYC tax) | 2200 |
| Line 6 Active Owner Allowance | 10000 |
| Schedule C Allocation | 100% NYC (box checked) |
| Line 17 Tax (4%) | 4008 |
| Line 18 UBT Credit | 2789 |
| Line 21 Estimated Payments | 4000 |
| Line 23 Refund | 2781 |
Scenario 2: Carlos Reyes, Real Estate Professional in Queens
| Form Section | What Carlos Enters |
|---|---|
| Taxpayer Name | CARLOS J REYES |
| DBA | REYES PROPERTY MGMT |
| Business Address | 45-12 QUEENS BLVD, SUNNYSIDE, NY 11104 |
| Date Business Began in NYC | 01/02/2018 |
| Schedule A, Line 2 (Schedule E rentals) | 68500 |
| Schedule B Depreciation Add-Back | 3200 |
| Line 6 Active Owner Allowance | 10000 |
| Schedule C Allocation | 100% NYC (box checked) |
| Line 17 Tax (4%) | 2468 |
| Line 18 UBT Credit | 2468 (full credit since under $3,400) |
| Line 21 Estimated Payments | 0 |
| Line 23 Balance | 0 |
Scenario 3: Aisha Williams, Single-Member LLC Consultant Serving Multi-State Clients
| Form Section | What Aisha Enters |
|---|---|
| Taxpayer Name | AISHA M WILLIAMS |
| DBA | WILLIAMS STRATEGY LLC |
| Business Address | 250 W 57TH ST STE 1100, NEW YORK, NY 10107 |
| Date Business Began in NYC | 06/01/2020 |
| Schedule A, Line 1 (Net Schedule C) | 250000 |
| Schedule A, Line 3 (Royalties) | 4500 |
| Line 6 Active Owner Allowance | 10000 |
| Schedule C Allocation Percentage | 72.5% |
| Line 17 Tax (4% on $177,625) | 7105 |
| Line 18 UBT Credit | 0 (over $5,400 phase-out) |
| Line 21 Estimated Payments | 7000 |
| Line 23 Balance Due | 105 |
How to File the Completed Form
You can file NYC-202 through three channels: online, by mail, or through approved tax software. The deadline for Tax Year 2025 returns is April 15, 2026, the same as the federal deadline, with an automatic six-month extension available by filing NYC-EXT and paying the estimated balance.
Online via NYC e-Services. Log in at a836-mspu.nyc.gov/MSPU, select “File Returns,” choose Unincorporated Business Tax — Individual, and follow the screens. There is no filing fee, payment is by ACH debit or credit card (a 2.49% convenience fee applies to cards), and processing typically completes within 7 business days. Save the confirmation number as proof of filing.
By mail. Send the signed paper return with payment to: NYC Department of Finance, P.O. Box 3933, New York, NY 10008-3933 for returns with payment, or P.O. Box 3922, New York, NY 10008-3922 for returns claiming a refund. Use certified mail with return receipt as proof of filing under the §11-526 mailbox rule. Processing takes 8–12 weeks for paper.
Through approved tax software. TurboTax, H&R Block, TaxAct, and Drake all support NYC-202 e-filing. The software fee varies (typically $25–$60 add-on for state and city returns), payment to the city goes through ACH, and processing matches the e-Services timeline of about 7 days. Keep the e-file acceptance acknowledgment as proof.
Estimated tax filers must also submit quarterly NYC-5UBTI vouchers on April 15, June 15, September 15, and January 15 if expected UBT exceeds $3,400.
What Happens After You File
Once the Department of Finance receives your return, it runs an automated math and identity check, then queues the file for either acceptance or further review. Returns filed through e-Services or approved software receive an acknowledgment within 24–72 hours; paper returns take 6–8 weeks before any acknowledgment posts to your account.
If you owe and paid in full, the agency posts the payment to your account and closes the year. If you claim a refund, expect direct deposit within 4–6 weeks of e-file acceptance or 10–14 weeks for paper. If the agency questions your return, it sends a Notice of Proposed Adjustment by mail with a 30-day response window — failing to respond converts the proposal into a final assessment under §11-525.
The Department of Finance can audit any UBT return within three years of filing (six years if there is a 25% understatement, and indefinitely for fraud). Keep your supporting records for at least seven years to be safe. You can check the status of your return any time through the NYC-202 account lookup using your SSN and confirmation number.
Mistakes to Avoid When Filling Out the Form
- Filing NYC-202 when you should file NYC-202EIN. Single-member LLCs with an EIN belong on -EIN; using the wrong form causes the return to be rejected and refiled, often after the deadline.
- Skipping Schedule C allocation. Failing to allocate when you have out-of-NYC work overstates tax and the agency will not refund the excess unless you amend.
- Forgetting the $10,000 active owner allowance. Leaving Line 6 blank costs you $400 in tax (4% of $10,000) every year.
- Claiming the full UBT credit when tax exceeds $3,400. This produces a deficiency notice plus interest from April 15.
- Mixing up gross receipts and net profit. Entering Schedule C Line 1 instead of Line 31 inflates tax dramatically.
- Missing the April 15 deadline without filing NYC-EXT. Late-filing penalties run 5% per month up to 25% under §11-525.
- Failing to add back NYC and state taxes deducted on Schedule C. The agency cross-checks federal returns and assesses the difference.
- Using a P.O. Box as the business address. This causes borough-allocation issues and may invalidate rent deductions.
- Forgetting to sign. Unsigned returns are treated as never filed, and penalties accrue.
- Ignoring NYC-5UBTI estimated payments. Underpayment of estimated tax triggers an additional underpayment penalty calculated on Form NYC-221.
- Entering ITIN instead of SSN. The form requires SSN; ITIN holders need different procedures.
- Using an outdated revision of the form. Older PDFs have shifted OCR boxes and get rejected.
Do’s and Don’ts
Do’s:
- Do download the form fresh from nyc.gov each year, because revisions change.
- Do reconcile every line to your federal return, since the agency cross-checks automatically.
- Do file electronically if possible — processing is 6x faster and math errors are caught instantly.
- Do keep proof of mailing or e-file acknowledgment for at least seven years.
- Do pay any balance by the original April 15 due date, even if you file an extension, because extensions cover filing only, not payment.
- Do attach Form 4562 whenever you claim depreciation, even if the federal return doesn’t require it that year.
Don’ts:
- Don’t paraphrase field labels when keeping your records; use the exact NYC-202 line numbers so any future audit lines up.
- Don’t pay UBT with a personal check from a closed account; bounced payments incur a $50 fee plus penalties.
- Don’t forget to update your address with the Department of Finance through Form DOF-1 before filing.
- Don’t claim the QBI deduction as a UBT subtraction; it is federal-only.
- Don’t file two returns for the same year if you discover an error — file NYC-202X (the amended version) instead.
- Don’t ignore agency notices; the 30-day response window in §11-525 is strict and missing it forfeits appeal rights.
Pros and Cons of Filing on Your Own vs. With Help
Pros of self-filing:
- No preparer fee, which typically runs $200–$600 for a sole proprietor return.
- Full control over data entry, reducing the chance of a miscommunicated number.
- Immediate access to your records without waiting on a preparer’s schedule.
- Builds tax literacy that helps in future years and with related forms like NYC-5UBTI.
- Faster e-file acknowledgment when you submit the moment you finish.
Cons of self-filing:
- Higher error rate — the Department of Finance reports a 12% adjustment rate on self-prepared returns versus 3% for CPA-prepared.
- No audit defense included; you handle any notice yourself.
- Easy to miss credits like the relocation employment assistance credit on NYC-9.5.
- No second set of eyes on Schedule C allocation, which is the most-litigated UBT issue.
- Time cost — first-time filers report 6–10 hours to complete NYC-202 versus 30–45 minutes for an experienced CPA.
NYC-202 vs. NYC-202EIN at a Glance
| Feature | NYC-202 vs. NYC-202EIN |
|---|---|
| Filer Type | NYC-202: sole proprietors and single-member LLCs without EIN; NYC-202EIN: single-member LLCs with EIN |
| Identifier | NYC-202 uses SSN; NYC-202EIN uses EIN |
| Tax Rate | Both flat 4% under §11-503 |
| Filing Threshold | Both: gross income over $95,000 or taxable income over $5,000 |
| Active Owner Allowance | Both: $10,000 cap |
| Due Date | Both: April 15 following the tax year |
FAQs
Do I have to file NYC-202 if I live in New Jersey but work in NYC as a freelancer?
Yes. Residency does not matter for UBT; what matters is whether services are performed in NYC. A New Jersey resident working out of a Manhattan co-working space owes UBT on NYC-allocated income.
Do I write my legal name or my DBA in the Taxpayer Name box?
No, the DBA does not go in the Taxpayer Name box. Your legal name as printed on your Social Security card goes there, and the DBA goes on the next line down.
Is the $10,000 active owner allowance automatic or do I have to claim it?
No, it is not automatic. You must enter $10,000 on Line 6 yourself, and leaving the line blank costs you $400 in tax every year.
Do I need to file NYC-202 if my net profit was only $4,000?
No, if your gross income is under $95,000 and taxable income is under $5,000, no return is required. File only if you want a refund of estimated payments already made.
Can I e-file NYC-202 directly through the IRS?
No. The IRS does not handle NYC city returns directly, but NYC e-Services and approved tax software both e-file NYC-202 through the Modernized e-File channel.
Does the federal QBI deduction reduce my NYC-202 tax?
No. UBT starts before federal QBI, so the 20% qualified business income deduction has no effect on Line 17.
Do I enter SSN with dashes in the SSN boxes?
No. Enter only the digits, one per box, with no dashes, no spaces, and no commas — the OCR scanner rejects punctuation.
Should passive rental income from a two-family house go on Line 2?
No. Passive rentals that do not rise to a trade or business are exempt under §11-502(d). Leave Line 2 blank in that case.
Do I get the full UBT credit if my tax is exactly $5,400?
No. The credit phases out at $5,400, so a tax of exactly $5,400 yields zero credit. Below $3,400, you get the full credit; between, a sliding scale applies.
Is filing NYC-EXT enough to avoid late-payment penalties?
No. NYC-EXT extends the filing deadline by six months but not the payment deadline. You still owe the balance by April 15 to avoid late-payment penalties.
Do I list my spouse on Schedule D if she helps with bookkeeping?
No. Schedule D lists only owners, not employees or helpers. A spouse who is not an owner stays off Schedule D entirely.
Can I deduct my home office on NYC-202?
Yes. Home office expenses already deducted on federal Schedule C carry through to NYC-202 Line 1 automatically; do not deduct them a second time.
Does NYC-202 cover both UBT and NYC personal income tax?
No. NYC-202 is UBT only. NYC personal income tax is filed on New York State Form IT-201 with the city portion calculated there.
Do I need to attach my federal Schedule C to NYC-202?
Yes. A copy of federal Schedule C (or Schedule E or F) must be attached to every NYC-202 filing, paper or electronic, or the return is considered incomplete.
Related reading
- How to Fill Out New York Form IT-204-LL + FAQs
- How to Fill Out New York Form IT-558 (w/Examples) + FAQs
- How to Fill Out New York Form NYC-2 (w/Examples) + FAQs
- How to Fill Out New York Form NYC-204 (w/Examples) + FAQs
- How to Fill Out New York Form NYC-2A (w/Examples) + FAQs
- How to Fill Out New York Form NYC-3L (w/Examples) + FAQs