2023 Tax Deadlines for New York City Startups

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How Much Does a Startup Tax Return Cost? Try Kruze Consulting’s Tax Preparation Pricing Tool

• JAN 31: Send 1099s to contractors. Send W2s to employees. E-file 1099-MISC for nonemployee compensation with the IRS on this date. Remember, while some payroll providers may provide 1099s to contractors, they can miss important vendors (like law firms, ad agencies, etc.) that need to get 1099s. Read more on why it makes sense to manage your 1099 process outside of your payroll provider.
• JAN 31: If you need an extension on your W2 s and 1099, then file Form 8809 for a 30-day extension to file W2s and 1099-MISC for non-employee compensation. Carefully read to make sure you understand which Form 8809s can be filed online.
• JAN 31: Send 1095-B and 1095-C forms to employees.
• JAN 31: Claim your R&D Tax Credits on Form 941. These credits can reduce a startup’s payroll tax by up to $250,000 a year.
• JAN 31: File annual Federal Unemployment Tax Act (FUTA) tax return on Form 940.
• JAN 31: Quarterly New York State Payroll Taxes Form NYS-45 deadline for prior year Q4.
• FEB 15: Hurricane Ida Victims’ Extended Deadline for filing and payment obligations from January 1 to February 14.
• MAR 1: IRS Affordable Care Act Compliance 1094-B, 1095-B, 1094-C and 1095-C filings are due for paper filing (due April 1 if e-filing). File Form 8809 for a 30-day extension.
• MAR 1: Delaware Annual Franchise Report filing deadline for Delaware C-Corporations: Pay a minimum of $400, which increases if you have significant funding. Use the Kruze Delaware Franchise Tax calculator to estimate how much you owe, but work with your CPA to get the exact amount.
• MAR 2: IRS 30-day automatic extension: provide Form 1095-B and Form 1095-C to employees.
• MAR 15: New York State and New York City estimated tax payments due for Q1.
• MAR 31: IRS ACA Compliance 1094-B, 1095-B, 1094-C and 1095-C filings are due (e-file).
• MAR 31: 1099s and W2s must be e-filed with the IRS by this deadline.
• APR 18*: C Corp Form 1120 Tax Return deadline. Can extend to October 16*.
• APR 18*: File the R&D Tax Credit Form 6765 with your tax return. Can extend to October 16*.
• APR 18*: Federal Quarterly Estimated Tax first installment.
• APR 18*: New York State General Business Corporation Franchise Tax Form CT-3 due. Can extend to October 16*.
• APR 30: Claim R&D Tax Credits on Form 941 .
• APR 30: Quarterly NY State Payroll Taxes Form NYS-45 due for Q1.
• JUN 1: NYC Business Registration check for current status.
• JUN 1: Delaware Quarterly Estimated Franchise Tax. Pay 40% of estimated annual amount (if annual amount expected to exceed $5,000).
• JUN 15: Federal Quarterly Estimated Tax second installment.
• JUN 15: New York State and NYC estimated tax payments due for Q2.
• JULY 31*: Quarterly NY State Payroll Taxes Form NYS-45 due for Q2.
• JULY 31*: Claim R&D Tax Credits on Form 941.
• SEP 1: Delaware Quarterly Estimated Franchise Tax. Pay 20% of estimated annual amount (if annual amount expected to exceed $5,000).
• SEP 15: Federal Quarterly Estimated Tax third installment.
• SEP 15: New York State and NYC estimated tax payment due for Q3.
• OCT 16*: C Corp Form 1120 Tax Return final due date if extension was filed.
• OCT 16*: NY State General Business Corporation Franchise Tax Form CT-3 final due date/deadline if extension was filed.
• OCT 31*: Quarterly NY State Payroll Taxes Form NYS-45 due for Q3.
• OCT 31*: Claim your R&D Tax Credits by using Form 941.
• DEC 1: Delaware Quarterly Estimated Franchise Tax. Pay 20% of estimated annual amount (if annual amount expected to exceed $5,000).
• DEC 15: Federal Quarterly Estimated Tax fourth installment.
• DEC 15: New York State and NYC estimated tax payment deadline for Q4.
• ROLLING: NY Biennial Statement for Corporations (every two years in the month of original Application for Authority with New York State).

*Note: Most states usually follow the federal calendar when setting state income tax return deadlines. Normally, when the tax deadline is on weekend or holiday, the deadline is moved to the next business day. The federal tax deadline in 2023 falls on April 18, rather than April 15, which is a Saturday. However, Monday, April 17, is Emancipation Day, a holiday recognized in the District of Columbia, where the Internal Revenue Service is headquartered. The federal extension deadline for 2023 is October 16, since October 15 falls on a Sunday.

How Much Does a Startup Tax Return Cost? Try Kruze Consulting’sTax Preparation Pricing Tool.

If you are a Delaware C-Corp New York funded startup that needs tax help,contact us today!

NEW YORK CITY, STARTUPS AND TAXES

New York City is acknowledged as the world capital for finance and business. New York City’s tech ecosystem is home to more than 9,000 startups, and has more than 100 incubators, according to Tech:NYC. New York City boasts a deep talent pool, with more than 120 universities, and 238 tech education and training organizations across the five boroughs.

The most important taxing authorities for companies in New York City are:

• New York State Department of Taxation and Finance
• New York City Department of Finance

In 2023, businesses in New York City have several important tax deadlines beyond the April 18th state and federal returns deadline. There are quarterly New York State and City estimated tax payment due dates, plus the NY State Payroll Form due date. The calendar above shares more important deadlines for New York companies in 2023.

There are various tax credits that NY-based companies should consider. While not many venture-backed startups will be eligible for it, the New York Life Sciences Research and Development credit is one to ask your CPA about if you have biotech operations in New York.

2022 Tax Deadlines for New York City Startups

2022 startup tax deadlines are supplied for reference purposes only, and should not be used when making decisions in 2023 or beyond. Always consult your tax professional, and see our disclaimer below.

• JAN 31: Send 1099’ s to Contractors. Send W2’s to Employees. 1099-NEC for nonemployee compensation must also be e-filed to IRS on this date.
• JAN 31: Send 1095-B and 1095-C forms to Employees.
• JAN 31: Claim Research and Development Tax Credits on Prior Year Q4 Form 941, and file annual FUTA return on Form 940.
• JAN 31: Quarterly New York State Payroll Taxes Form NYS-45 deadline for prior year Q4.
• JAN 31: Employer’s quarterly Metropolitan Commuter Transportation Mobility Tax (MCTMT) return due. No extensions are allowed for this Form.
• FEB 28: W-2 and 1099-MISC, 1099-NEC filings are due on this deadline if paper-filing (due MAR 31 if e-Filing). File Form 8809 for a 30-day extension.
• FEB 28: IRS ACA Compliance 1094-B , 1095-B 1094-C and 1095-C filings are due on this deadline (if paper-filing, due MAR 31 if eFiling). File Form 8809 for a 30-day extension.
• MAR 1: Delaware Annual Franchise Report filing deadline:** Pay a min. of $400, +more if you have significant funding.
• MAR 15: New York State and New York City estimated tax payments due for Q1.
• APR 15: C Corp Form 1120 Tax Return deadline. Can extend to OCT 15 with submission of form 7004.
• APR 15: File the R&D Tax Credit Form 6765with your tax return. Can extend to OCT 15 as mentioned above.
• APR 15: Federal Quarterly Estimated Tax 1st installment.
• APR 15: New York State General Business Corporation Franchise Tax Form CT-3 due and NY City Form NYC-2. Can extend to OCT 15.
• APR 29: Claim R&D Tax Credits on Q1 Form 941.
• APR 29: Quarterly NY State Payroll Taxes Form NYS-45 due for Q1.
• JUN 1: NYC Business Registration check for current status.
• JUN 1: Delaware Quarterly Estimated Franchise Tax deadline, Pay 40% of estimated annual amount (if annual amount expected to exceed $5,000).
• JUN 15: Federal Quarterly Estimated Tax 2nd installment.
• JUN 15: New York State and NYC estimated tax payments due for Q2.
• JUL 29: Claim R&D Tax Credits on Q2 Form 941.
• JUL 29: Quarterly NY State Payroll Taxes Form NYS-45 due for Q2.
• SEP 1: Delaware Quarterly Estimated Franchise Tax deadline, Pay 20% of estimated annual amount (if annual amount expected to exceed $5,000).
• SEP 15: Federal Quarterly Estimated Tax 3rd installment.
• SEPT 15: New York State and NYC estimated tax payment due for Q3.
• OCT 15: NY State General Business Corporation Franchise Tax Form CT-3 and NY City Form NYC-2 final due date/deadline if extension was filed.
• OCT 15: C Corp Form 1120 Tax Return final due date if extension was filed.
• OCT 31: Claim your R&D Tax Credits on Q3 Form 941.
• OCT 31: Quarterly NY State Payroll Taxes Form NYS-45 due for Q3.
• DEC 1: Delaware Quarterly Estimated Franchise Tax, Pay 20% of estimated annual amount (if annual amount expected to exceed $5,000).
• DEC 15: Federal Quarterly Estimated Tax 4th installment.
• DEC 15: New York State and NYC estimated tax payment deadline for Q4.
• ROLLING: NY Biennial Statement for Corporations (every 2 years in the month of original Application for Authority with NY State).

If you are a Delaware C-Corp New York funded startup that needs tax help, contact us today!