The partnership's income is passed through to its partners and is included as income on each partner's income tax or franchise tax return. does not pay income tax directly on its income.Tiered partnershipsĪ partnership that is a partner or member of another partnership ( lower tier partnership) will report its distributive share of profits and losses from the lower tier partnership on its partnership return. A limited liability partnership (LLP) or a limited liability company (LLC) that is treated as a partnership for federal income tax purposes is also a partnership for New York State income tax purposes.Ī corporation, trust, or estate is not a partnership although it may be a partner or member of a partnership. Request an installment payment agreementįor New York State income tax purposes, a partnership is a syndicate, group, pool, joint venture, or other unincorporated organization that is carrying on a trade or business and is classified as a partnership for federal income tax purposes.Metropolitan commuter transportation mobility tax.
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