New York—Corporate Income Tax: MTA Surcharge Rate Increased for 2020, Deriving Receipts Thresholds Unchanged

26 December 2019

The New York corporate franchise tax MTA surcharge rate will increase from 28.9% to 29.4% for tax year 2020. The rate will remain the same in later tax years, unless the Commissioner of Taxation and Finance establishes a new rate.

Deriving Receipts Thresholds

There will be no change for 2020 in the thresholds at which a corporation is considered to be deriving receipts from activity in New York State and in the Metropolitan Commuter Transportation District for purposes of imposing the corporate franchise tax and the MTA surcharge.

TSB-M-19(6)C, New York Department of Taxation and Finance, December 20, 2019, ¶409-601