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Maintenance fee under Tax Law Article 9, section 181.2

If you are a foreign corporation (a business incorporated outside New York State) that is authorized to do business in New York State, you must pay an annual maintenance fee of $300.

Exemption from the maintenance fee

You are exempt from this fee if you are:

  • a banking corporation as defined in Article 32, section 1452(a), paragraphs 1 through 8;
  • an insurance corporation;
  • a limited liability company (LLC);
  • a limited liability partnership (LLP);
  • a publicly traded partnership taxed as a corporation under the Internal Revenue Code; or
  • a corporation that:
    • has been approved to participate in the START-UP NY program, and
    • is accepted to locate in a tax-free NY area, and
    • is located exclusively within the state in a tax-free NY area approved pursuant to Article 21 of the Economic Development Law, and
    • operates at the approved location in the tax-free NY area, and
    • satisfies the requirements of section 433(1)(b) of the Economic Development Law.

For more information on the START-UP NY program, see TSB-M-13(7)C, SUNY Tax-Free Areas to Revitalize and Transform Upstate New York Program.

How and when to file

If you are a foreign corporation that is authorized to do business in New York State and wish to disclaim tax liability, you must file Form CT-245, Maintenance Fee and Activities Return For a Foreign Corporation Disclaiming Tax Liability, within 2½ months after the end of your annual reporting period.

If you are required to file a tax return under Article 9, 9-A, or 32, or the additional MTA surcharges associated with those returns, or any of the excise taxes imposed under Article 9, and the payments you made for those taxes total less than the $300 maintenance fee, you must adjust your tax to meet the maintenance fee requirement.

For more information about the requirements for paying the annual maintenance fee, see Form CT-245 Instructions.

For information about Corporate Tax reform taking place in 2015, click here.

Updated: August 05, 2014