Tax Types & Descriptions

Banking Corporation Tax (BCT)
A tax imposed on banking corporations, including commercial and savings banks, savings and loan associations, trust companies, and certain subsidiaries of banks that do business in New York City in a corporate or organized capacity.

Cigarette Tax
This tax must be paid on the possession of all cigarettes, whether bought to resell or for consumption.

Commercial Motor Vehicle Tax (CMVT)
A tax imposed on non-passenger motor vehicles principally used in New York City or principally in connection with a business carried on in the City and on motor vehicles that are regularly used in the City for the transportation of passengers. For the purpose of CMVT, “principally” is defined as 50% or more of the vehicle’s mileage during the year is within the City, regardless of whether the owner’s or operator’s business is in the City.

Commercial Rent Tax (CRT)
A tax imposed on tenants of premises that are used to conduct businesses, professions, or commercial activities in Manhattan south of 96th Street.

E-911 Surcharge for Telecommunications Providers
A surcharge imposed on users of wireless telecommunications services.

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

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

Hotel Room Occupancy Tax
A tax imposed on the occupancy of hotel, motel, bed-and-breakfast, boardinghouse, and transient club/apartment rooms, based on the cost of the room rent and paid by the guest.

Mortgage Recording Tax
An excise tax imposed on the recording of every mortgage at the New York City Register or Richmond County Clerk.

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

Retail Beer, Wine and Liquor License Tax
A tax imposed for the privilege of selling liquor, wine, and beer at a retail establishment within New York City, for consumption on or off premises.

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

Unincorporated Business Tax (UBT)
A tax imposed on every individual or unincorporated entity carrying on a trade, business, or profession – in whole or part – in New York City.

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

NYC Taxes Administered by the State
New York State administers the following additional City taxes in conjunction with Finance:

Motor Vehicle Use Tax
A tax imposed on New York City residents who keep, store and garage a motor vehicle in the City; non-residents who also keep a motor vehicle in the City; and owners of leased or rented passenger motor vehicles.

Beer and Liquor Excise Tax
A tax imposed 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