Corporate taxes
Corporate tax collections
Corporations operating in New York State are taxed under different articles based upon business activity. The Article 9-A corporate franchise tax comprises the majority of corporate filers with nearly 320,000 taxpayers. Article 9 taxes are imposed on approximately 1,200 utility, telecommunications, and transportation companies. Article 33 taxes are imposed on approximately 1,300 insurance corporations operating in the state.
New York State collected almost $10 billion in these corporate taxes in fiscal year 2025 (April 2024–March 2025).
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Article 9-A | $3,391.8 | $3,771.8 | $3,879.7 | $5,793.2 | $7,260.8 | $7,502.0 | $6,761.4 |
| Article 33 | $1,489.6 | $1,918.5 | $1,799.3 | $1,991.2 | $2,157.0 | $2,202.8 | $2,409.1 |
| Article 9 | $805.1 | $832.6 | $715.2 | $735.8 | $720.2 | $751.1 | $739.2 |
| Total | $5,686.5 | $6,523.0 | $6,394.1 | $8,520.2 | $10,138.0 | $10,455.9 | $9,909.8 |
*Collections in a given fiscal year include both voluntary and involuntary (audit & enforcement) payments for multiple tax years and are amounts net of refunds. As such, the collections for a given fiscal year vary from the liability for a given tax year.
This pie chart shows the proportion of tax received under Articles 9, 9-A, and 33. For exact numbers, see data table.
View this data as a table
| Article | Percent of corporate tax collections |
|---|---|
| Article 9-A | 68.2% |
| Article 33 | 24.3% |
| Article 9 | 7.5% |
| Total | 100.0% |
Tax year filing and data timing
The combination of filing extensions and fiscal-year filing periods results in a lag between when returns are filed and when complete tax year data are available.
Example: A fiscal year filer with a December 2024–November 2025 liability period would be required to file its return in March 2026. If the entity uses the full one-year extension, the 2024 return would not be submitted to the department until March 2027.
Extensions of time to file
Article 9-A taxpayers are required to file tax returns by the 15th day of the 4th month following the close of the tax year (April 15th for calendar-year filers). In addition, filers may extend the statutory due date for up to one year through the use of one six-month extension and two additional three-month extensions.
Over half of the corporate franchise taxpayers file by the statutory deadline, but those entities make up less than 10% of the total tax. Meanwhile, more than 60% of the overall Article 9-A tax comes from the less than 2% of taxpayers that use either a nine-month or one-year extension.
| Extension status | Percent of taxpayers | Percent of total tax |
|---|---|---|
| No extension | 58.1% | 6.2% |
| Six-month extension | 40.2% | 31.4% |
| Nine-month extension | 1.6% | 45.3% |
| One-year extension | 0.1% | 17.2% |
| Total | 100.0% | 100.0% |
Tax years: Calendar year vs. fiscal year
Corporate franchise taxpayers file either on a calendar year (January–December) or a fiscal year (the liability period begins in a month other than January). Over two-thirds of Article 9-A taxpayers use a calendar year, reporting over 70% of the total Article 9-A liability.
| Liability period begin month | Number of taxpayers | Percent of taxpayers | Tax (in millions) | Percent of total tax |
|---|---|---|---|---|
| January | 223,114 | 67.7% | $4,819.7 | 72.4% |
| February | 7,986 | 2.4% | $340.5 | 5.1% |
| March | 8,953 | 2.7% | $28.5 | 0.4% |
| April | 12,713 | 3.9% | $300.2 | 4.5% |
| May | 8,883 | 2.7% | $42.6 | 0.6% |
| June | 9,137 | 2.8% | $85.0 | 1.3% |
| July | 13,239 | 4.0% | $367.5 | 5.5% |
| August | 8,792 | 2.7% | $100.9 | 1.5% |
| September | 8,803 | 2.7% | $65.0 | 1.0% |
| October | 12,034 | 3.7% | $314.5 | 4.7% |
| November | 8,839 | 2.7% | $120.8 | 1.8% |
| December | 7,119 | 2.2% | $70.4 | 1.1% |
| 2022 tax year total | 329,612 | 100.0% | $6,655.7 | 100.0% |
Corporate franchise tax composition
The number of corporate tax filers, and the associated liability, continues to grow since the corporate franchise tax was restructured in 2015.
| Tax liability year | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|---|---|---|
| Number of taxpayers | 281,374 | 284,605 | 293,302 | 302,909 | 311,233 | 311,147 | 319,108 | 329,612 |
| Liability (in millions) | $3,238.5 | $2,836.5 | $2,710.4 | $4,037.5 | $4,052.0 | $4,127.9 | $5,929.7 | $6,655.7 |
Over 75% of the corporation franchise tax burden is carried by less than 0.25% of filers. Nearly 80% of corporate franchise taxpayers pay less than $1,000 in tax.
| Tax year | Tax amount | Number of taxpayers | Percent of total taxpayers | Tax (in millions) | Percent of total tax |
|---|---|---|---|---|---|
| 2015 | less than or equal to $999 | 219,150 | 77.9% | $33.4 | 1.0% |
| greater than or equal to $1 million | 478 | 0.2% | $2,152.3 | 66.5% | |
| 2016 | less than or equal to $999 | 224,212 | 78.8% | $37.6 | 1.3% |
| greater than or equal to $1 million | 406 | 0.1% | $1,869.5 | 65.9% | |
| 2017 | less than or equal to $999 | 232,406 | 79.2% | $37.1 | 1.4% |
| greater than or equal to $1 million | 394 | 0.1% | $1,757.8 | 64.9% | |
| 2018 | less than or equal to $999 | 240,874 | 79.5% | $37.7 | 0.9% |
| greater than or equal to $1 million | 494 | 0.2% | $2,965.1 | 73.4% | |
| 2019 | less than or equal to $999 | 249,720 | 80.2% | $38.8 | 1.0% |
| greater than or equal to $1 million | 474 | 0.2% | $2,988.5 | 73.8% | |
| 2020 | less than or equal to $999 | 254,532 | 81.8% | $35.2 | 0.9% |
| greater than or equal to $1 million | 484 | 0.2% | $3,052.6 | 74.0% | |
| 2021 | less than or equal to $999 | 251,280 | 78.7% | $35.5 | 0.6% |
| greater than or equal to $1 million | 736 | 0.2% | $4,441.5 | 74.9% | |
| 2022 | less than or equal to $999 | 258,148 | 78.3% | $36.3 | 0.5% |
| greater than or equal to $1 million | 799 | 0.2% | $5,040.8 | 75.7% |
Article 9-A filers are subject to the highest of three bases—business income base, business capital base, or the fixed dollar minimum tax based on New York receipts.
While more than two-thirds of Article 9-A filers pay on the fixed dollar minimum base, more than 90% of the tax comes from the income base.
| Tax base | Number of taxpayers | Percent of taxpayers | Tax (in millions) | Percent of total tax |
|---|---|---|---|---|
| Entire net income | 72,723 | 22.1% | 6,062.4 | 91.1% |
| Fixed dollar minimum | 234,820 | 71.2% | 83.3 | 1.3% |
| Capital | 22,069 | 6.7% | 510.0 | 7.7% |
| 2022 Tax Year Total | 329,612 | 100.0% | 6,655.7 | 100.0% |
Article 9-A New York receipts by type
The composition of receipts remains stable from year to year. Article 9-A taxpayers reported more than $28 trillion dollars across more than 50 different types of enumerated receipts, with more than $1.4 trillion of that amount sourced to New York State in 2022.
This pie chart shows the composition of corporate tax receipts for tax year 2022. For exact numbers, see data table.
View this data as a table
| Receipts types | New York State | Everywhere | ||
|---|---|---|---|---|
| Amount of receipts (in billions) |
Percentage of total |
Amount of receipts |
Percentage of total | |
| Sales of tangible personal property | $535.6 | 37.8% | $12,831.1 | 45.7% |
| Receipts from other services/activities not specified | $642.2 | 45.3% | $12,155.0 | 43.3% |
| Rentals of real and tangible personal property | $43.4 | 3.1% | $329.8 | 1.2% |
| Financial receipts | $160.7 | 11.3% | $1,704.5 | 6.1% |
| All other receipts | $36.7 | 2.6% | $1,041.4 | 3.7% |
| 2022 Total | $1,418.6 | 100.0% | $28,061.7 | 100.0% |
View this data as a table
| State | Top rate |
|---|---|
| New Jersey (NJ) | 11.50% |
| Maine (ME) | 8.93% |
| Delaware (DE) | 8.70% |
| Vermont (VT) | 8.50% |
| Maryland (MD) | 8.25% |
| Connecticut (CT) | 8.25% |
| Massachusetts (MA) | 8.00% |
| New Hampshire (NH) | 7.50% |
| Pennsylvania (PA) | 7.49% |
| New York (NY) | 7.25% |
| Rhode Island (RI) | 7.00% |
| Source: New York State Department of Taxation and Finance analysis of corporate income tax rates. Rates reflect the highest rates, inclusive of fees and surcharges, that may be imposed on a corporation. This chart does not reflect any rate changes made after January 1, 2026. | |
Corporate income rates within New York
In addition to the Article 9-A corporate franchise tax, corporations may also be subject to the MTA Surcharge and the New York City Business Corporation Tax.
This stacked bar chart shows the top three corporate tax rates within New York. For exact numbers, see data table.
View this data as a table
| Location | Top Income Tax Rate | Location | Combined Top Rate | |
|---|---|---|---|---|
| New York State (NYS) | 7.25% | NYS | 7.25% | |
| MTA Surcharge (MTA)* | 2.18% | NYS & MTA | 9.43% | |
| New York City Business Corporation Tax (NYC)** | 8.85% | NYS, MTA, & NYC | 18.28% |
*MTA surcharge is 30% of state tax apportioned to the MCTD. The top rate is the MTA Surcharge rate multiplied by the top New York rate.
**The 8.85% rate is the top rate for most corporations. However, the top rate for large financials is 9%.
S corporations
Over 460,000 S corporations are required to pay an entity-level franchise tax under Article 9-A, ranging from $19 to $4,500 depending on the type of business and the amount of New York receipts. Shareholders of New York S corporations report the flow-through income from these corporations on their personal income tax returns. The number of New York S corporations continues to grow annually.
| Tax year | Count | Article 9-A franchise tax liability (in millions) |
|---|---|---|
| 2015 | 421,107 | $126.8 |
| 2016 | 427,341 | $123.3 |
| 2017 | 435,409 | $126.8 |
| 2018 | 443,855 | $138.5 |
| 2019 | 450,685 | $129.9 |
| 2020 | 450,926 | $120.1 |
| 2021 | 457,822 | $134.9 |
| 2022 | 463,050 | $144.5 |