Tax Types & Descriptions

Banking Corporation Tax (BCT)
A tax on banks and the companies they control. Some examples include Commercial and Savings Banks, Savings and Loan Associations and bank Trust Companies.

Cigarette Tax
This tax must be paid on all smoking products, whether bought for resale or for the consumer.

Commercial Motor Vehicle Tax (CMVT)
A tax on non-passenger motor vehicles principally used in New York City or by a business conducted in NYC.  And, on motor vehicles used regularly in NYC for the transportation of passengers.

For the purpose of CMVT, “principally” means 50% or more of the vehicle’s mileage during the year was within the five boroughs of New York City. This is whether or not the business owner or operator is located in NYC.

Commercial Rent Tax (CRT)
A tax on tenants who have businesses, professions, or commercial services in Manhattan, south of 96th Street.

E-911 Surcharge for wireless phone and internet services
A fee used to improve the public safety communications network.

General Corporation Tax (GCT)
A tax on corporations that have business activities, employ capital, own or lease property or maintain an office in New York City.

Horse Race Admissions Tax
A tax on all patrons of horse races as part of the price of admissions.

Hotel Room Occupancy Tax
A tax on guests who occupy a hotel, motel, bed-and-breakfast, boardinghouse, or transient club/apartment room. The tax is based on the cost of the room rent.

Mortgage Recording Tax
An excise tax for recording a mortgage by Finance’s Land Records Division or the Richmond County Clerk.

Real Property Transfer Tax (RPTT)
An excise tax on the transfer of real property or controlling economic interest of a property located in New York City.

Retail Beer, Wine and Liquor License Tax
A tax for selling liquor, wine, and beer at retail establishments within New York City, for use on or off premises.

Taxicab License Transfer Tax
A tax on every transfer of a taxicab license or the transfer of a controlling economic interest in a taxicab license.

Unincorporated Business Tax (UBT)
A tax on every individual or unincorporated business carrying on a full or partial trade or profession in New York City.

Utility Tax
A tax on every utility and vendor of utility services doing business in New York City.

NYC Taxes Administered by the State
New York State collects the following New York City taxes with Finance:

Motor Vehicle Use Tax
A tax on New York City residents and non-residents who own and garage a motor vehicle in NYC.  Owners of leased or rented passenger motor vehicles are also included.

Beer and Liquor Excise Tax
A tax on distributors and noncommercial importers of beer and liquor used or sold in New York City.

Sales and Use Tax
A tax on the sale of tangible personal property and certain services.

Personal Income Tax
There is a tax on certain types of income for New York City residents.  There is no separate NYC return.  Taxpayers fill in the New York City section on their New York State income tax form.   The return (and any payment) is filed with the NYS Department of Taxation.