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Unincorporated Business Tax (UBT)
What Activities are Subject to This Tax?
Unincorporated Businesses include: trades, professions, and certain occupations of an individual, partnership, limited liability company, fiduciary, association, estate or trust. The business can be active or in the process of being liquidated.
If you have two or more Unincorporated Businesses, all are treated as one for the purpose of this tax.
Tax Rates
A 4% tax rate is charged for taxable income allocated to New York City.
- Performing services as an employee is not subject to UBT.
- A person or entity, other than a dealer, who is only engaged in the purchase, holding, and sale of property for their own personal account (e.g. a person who owns and rents a two-family house); and
- An owner, lessee, or fiduciary who is engaged in holding, leasing, or managing real property for their own account.
- Entities engaged primarily with qualifying investment activities are partially exempt from UBT on the income.
- Associations and publicly traded partnerships treated as corporations for Federal income tax purposes; and “S Corps.” are subject to the General Corporation Tax.
Credits For Tax Years
A liability of $3,400 or less is allowed a credit for the full amount of the tax.
Liabilities between $3,401 and $5,400 are allowed a partial credit.
Individual New York City residents are allowed to claim a credit against their NYC Personal Income Tax for a portion of the UBT payments made as sole proprietors. The amount of the credit depends on the City resident's taxable income for personal income tax purposes. Part-year residents receive a partial credit.
Tax Forms
- NYC-EXT - Application for Automatic Extension of Time to File Business Income Tax Returns
File online with e-Services - NYC-NOLD-UBTI - Net Operating Loss Deduction Computation (for Individuals, Single-Member LLCs, Estates and Trusts)
- NYC-NOLD-UBTP - Net Operating Loss Deduction Computation (for Partnerships including Limited Liability Companies)
- NYC-5UB for 2024 - Partnership Declaration of Estimated Unincorporated Business Tax
File online with e-Services - NYC-5UBTI for 2024 - Declaration of Estimated Unincorporated Business Tax (for Individuals, Estates, and Trusts)
File online with e-Services - NYC-114.5 - REAP Credit Applied to Unincorporated Business Tax
- NYC-114.6 - Claim for Credit Applied to Unincorporated Business Tax
- NYC-114.7 - UBT Paid Credit For Unincorporated Business Taxpayers
- NYC-114.8 - Lower Manhattan Relocation Employment Assistance Program (LMREAP) Credit Applied to Unincorporated Business Tax
- NYC-114.10 - Claim for Biotechnology Credit (Attach to Form NYC-202 or NYC-204)
- NYC-114.12 - Claim for Beer Production Credit for Unincorporated Business Taxpayers
- NYC-202 - Unincorporated Business Tax Return (for Individuals, Single-Member LLCs)
Download Instructions
Download Unincorporated Business Tax Worksheet - You must attach this worksheet to amended returns reporting changes or corrections to taxable income or other bases of tax by the IRS or New York State DTF.
NYC-202EIN - Unincorporated Business Tax Return (for Estates, and Trusts)
Download Instructions
Download Unincorporated Business Tax Worksheet - You must attach this worksheet to amended returns reporting changes or corrections to taxable income or other bases of tax by the IRS or New York State DTF.
NYC-202S - Unincorporated Business Tax Return for Individuals
Download Instructions
Download Unincorporated Business Tax Worksheet - You must attach this worksheet to amended returns reporting changes or corrections to taxable income or other bases of tax by the IRS or New York State DTF.
File online with e-Services - NYC-204 - Unincorporated Business Tax Return for Partnerships (including Limited Liability Companies)
Download Instructions
Download Unincorporated Business Tax Worksheet - You must attach this worksheet to amended returns reporting changes or corrections to taxable income or other bases of tax by the IRS or New York State DTF.
NYC-WPE - Worksheet for Partial Exemption (attach to NYC-204) - NYC-204EZ - Unincorporated Business Tax Return for Partnerships (including Limited Liability Companies)
- NYC-221 - Underpayment of Estimated Unincorporated Business Tax
- NYC-399 - Schedule of New York City Depreciation Adjustments
- NYC-399Z - Depreciation Adjustments for Certain Post 9/10/01 Property
- NYC-579-EIN - Signature Authorization for E-Filed Unincorporated Business Tax Return for Estates and Trusts
- NYC-579-UBTI - Signature Authorization for E-Filed Unincorporated Business Tax Return for Individuals
- NYC-579-UBTP - Signature Authorization for E-Filed Unincorporated Business Tax Return for Partnerships
- Power of Attorney POA-1
- DOF-1 (Change of Business Information)
DOF-1 Online - Computer Data Request
- Conciliation Conference Request
- Conciliation Conference (CMVT) Request
For Use By NYC Commercial Motor Vehicles Taxpayers Only - Request for Consent to Dissolution (GCT)
- Request for Supplementary Information for Consent to Dissolution
- Electronic Transmittal of Tax Information
- Commercial Motor Vehicle Tax (CMVT) Exemption Affidavit
- Letter Ruling Request Form
- Tax Status Report Application
- Vendor Forms
The Metropolitan Commuter Transportation Mobility Tax does not need to be added back when filing UBT returns.
Tax Credits
NYC Biotechnology Tax CreditLegal Authority
Title 11, Chapter 5 Administrative Code
Enabling Act: Chapter 772 of the Laws of 1966