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Level 2
posted Apr 16, 2024 2:20:56 PM

SMLLC in NYC - Did I pay unincorporated business tax?

Hi All,

In 2023 I opened a SM- LLC and filed using Turbo-Tax.

 

I live and work from home in NYC so I was very careful when I chose NYC during the filing process.

 

In my 1040, I can see my Schedule-C.

However, I talked to a real accountant which told me that as an SMLLC in NYC, I also need to pay "unincorporated business tax" aka UBT.

I dont see it in my 1040! Does turbo tax support that? If so, where can I see if I paid that? or if not, where did I get it wrong during the process?

 

Thanks!

0 2 11641
2 Replies
Level 2
Apr 16, 2024 3:33:02 PM

To clarify- my taxable income is high enough that I won't be exempt from paying UBT.

Expert Alumni
Apr 19, 2024 10:44:54 AM

The NYC Unincorporated Business Tax (UBT) interview is in the NY state "Taxes and Credits" section. You will not find the form in your federal forms but in your NY forms.   It is not supported as an e-file form so you would've been prompted and needed to print/mail that tax form.   Since it sounds like that didn't happen, here are the steps.

 

  1. Sign in to your account and if you have already e-filed you will need to "Add a state" to allow access back into your already filed return. If you haven't filed your NY return you can go to the next step.
  2. Navigate to the NY state interview 
  3. Edit/update the Taxes/Credits section
  4. Scroll down to the other taxes
  5. There you will find the UBT topic
  6. Once you complete the interview TurboTax will tell you what if any tax is due and show you the address where the return is to be mailed.
  7. Continue to completion
  8. In the left hand menu select "Print Center"
  9. Follow the prompts to download/print your returns
  10. You will be looking for the NYC-202

@elilevi84