Our NYC CPA office provides 2017 New York tax updates. If you have any questions about this update to the MTA surcharge, please contact our nyc accountant and tax professionals.
The New York Department of Taxation and Finance has adopted an emergency corporate franchise tax regulation amendment regarding the MTA surcharge imposed under Tax Law Article 9-A. Specifically, new Reg. Sec. 9-1.2(c) provides that the surcharge will be computed at the rate of 28.3% of the tax imposed under Tax Law Sec. 209 for tax year 2017 (the rate was 28% for tax year 2016). The rate will remain the same in any succeeding tax year, unless a new rate is determined.