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New York

Bookkeeping services in New York

Outsourced bookkeeping for New York companies, with the city and state filings that catch founders out built into the close.

Parag Jain, CPA
Parag Jain, CPAFounder, Zinance·Last updated August 2026·6 min read
Summarize this article

At a glance

NYC Commercial Rent Tax
Applies below 96th St, ManhattanTriggered at $250,000 annual rent
Small business CRT credit
Income ≤ $5m and base rent < $500kEffectively exempt; sliding scale above
NY corporate franchise tax
Filed on Form CT-3Separate from federal and from NYC business taxes

New York is the densest concentration of venture-backed companies outside the Bay Area, and it is also one of the few places where a company can owe city taxes that have nothing to do with profit. Books kept for a New York company have to account for that, not just for the federal return.

The tax most New York founders miss

The Commercial Rent Tax applies to tenants in Manhattan south of the centre line of 96th Street, and it is triggered when annual rent reaches $250,000. It is a tax on rent, not on income, so a loss-making company can owe it.

The credit that saves most startups

A small business credit effectively exempts tenants with total income of $5,000,000 or less and annual base rent under $500,000. Above those, a sliding scale applies up to $10m of income and $550,000 of rent. Most seed and Series A companies fall inside the exemption, but you have to claim it.

Three filings, three authorities

  • Federal — the 1120 and, where the company qualifies, the R&D credit and its payroll offset.
  • New York State — corporate franchise tax on Form CT-3.
  • New York City — general corporation tax and, if the rent threshold is met, commercial rent tax.

Bookkeeping that only closes to a federal standard leaves the city and state work to be reconstructed in March. Ours is built to close against all three.

What we do for New York companies

Daily categorisation and reconciliation, a monthly close with a named accountant, and a dashboard that keeps burn and runway current rather than a month behind. Flat pricing, no long-term contract, and the books belong to you.

We are a remote team. There is no New York office, and for outsourced bookkeeping that has never mattered — what matters is whether someone answers when you ask why a number moved.

Frequently asked questions

Do I owe NYC Commercial Rent Tax?+
Only if you rent in Manhattan south of 96th Street and your annual rent reaches $250,000. Below that there is no liability. Between $250,000 and $300,000 a credit reduces the tax, and a separate small business credit effectively exempts tenants with total income of $5m or less and base rent under $500,000.
Do you have an office in New York?+
No. Zinance is a remote team serving companies across the US. You get a dedicated accountant and a named point of contact rather than a local office, which is what actually matters for outsourced bookkeeping.
Can you handle New York State and City filings as well as federal?+
Yes. That is the point of keeping the books to a New York standard rather than a purely federal one, so the state and city returns are a by-product of the close rather than a March reconstruction.

Where these numbers come from

San FranciscoSan FranciscoOutsourced bookkeeping for Bay Area companies, built around California's minimum franchise tax and San Francisco's gross receipts regime.AustinAustinOutsourced bookkeeping for Austin companies, with the Texas franchise tax report handled even in the years you owe nothing.DelawareDelawareAlmost nobody operates in Delaware. Most US startups are incorporated there, and that alone creates a filing you cannot skip.

Numbers you can actually trust

Zinance is outsourced bookkeeping, tax, and fractional-CFO support built for fast-growing companies, flat pricing, a dedicated human, and books that stay current every day.

✓ Live in 7 business days✓ No long-term contracts✓ Your books belong to you