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Is income earned outside of New York City exempt from corporate tax?
Q. Is income earned outside of New York City exempt from corporate tax? My company is an 'S' corp in Brooklyn New York and I do 100% of my work in New Jersey. Can anyone tell me if this income is exempt from New York corporate tax?
A. -I believe what you'll find, as is the same in most every state, is that your "S" profits are taxable on your individual income tax return (federal and state) and since you have nexus in Jersey, you'll file both a "S" corporate (foreign corporatio
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