Tax Types & Descriptions

Banking Corporation Tax (BCT)
A tax on banking corporations, commercial and savings banks, savings and loan associations, bank holding companies, and trust companies. Certain subsidiaries of banks that are owned by a bank or bank holding company are also taxed.

Cigarette Tax
A tax paid by an agent or distributor and passed onto the cost of each pack of cigarettes.

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.  Motor vehicles used regularly in NYC for passenger transportation are also taxed.

Commercial Rent Tax (CRT)
A tax charged to commercial tenants who occupy or use a premise for commercial activity in Manhattan, south of 96th Street.

E-911 Surcharge for wireless phone and internet voice communication 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 Horse Racing admissions.

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

Mortgage Recording Tax
A New York City tax charged for mortgages recorded on property in the five boroughs

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

Retail Beer, Wine and Liquor License Tax
A tax charged on each retail licensee for selling liquor, wine, or beer within New York City.

Taxicab License Transfer Tax
A tax charge on every transfer of a taxicab license.

Unincorporated Business Tax (UBT)
A tax charged to 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 charged to New York City owners or lessees who garage a motor vehicle in New York City.

Beer and Liquor Excise Tax
A tax charged to 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.