Saltaire Partners works with owners of businesses in New York worth roughly $3–100M, from the New York metropolitan area. This page links to a local guide for each New York metro area covered so far, and sets out the state rules that change what a sale looks like here: corporate tax, personal income tax, clearances, transfer taxes. Every figure and rule links to its source.
Fixed fees. No exclusives. No success fees.
These statements come from the state's own agencies. Each one links to the page it was taken from.
New York's corporation franchise tax rate on the business income base is 7.25% for tax years 2021 through 2026 for taxpayers with a business income base over $5 million, and 6.5% for all other taxpayers. From tax year 2027 the 7.25% rate reverts to 6.5%.
Resident shareholders of a New York S corporation pay personal income tax on their pro rata share of its pass-through items. Nonresident shareholders pay only on their share of items from New York sources; the corporation itself pays a fixed dollar minimum tax based on New York receipts.
When a business that collects sales tax sells or transfers business assets in bulk, the purchaser must notify the Tax Department on Form AU-196.10 at least 10 days before paying for or taking possession of the assets, whichever comes first. A purchaser who does not may be held liable for the seller's unpaid sales and use taxes.
In a New York bulk sale, the purchaser is also responsible for the sales tax due on any tangible personal property it buys or acquires, paid either to the seller or directly to the Tax Department.
New York State's real estate transfer tax is $2 for each $500 of consideration, and it applies to the transfer or acquisition of a controlling interest in an entity with an interest in real property. The grantor (seller) pays it, unless the grantor does not pay or is exempt, in which case the grantee pays.
This is general information, not tax or legal advice. Your attorney and CPA should confirm how it applies to your sale.
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