Have a client who runs an S-Corp that owns real property on Long Island. The corp receives rent and has a few expenses, all paid by client from his home. He moved his residence from Westchester to NYC. Is the corp. now subject to NYC Corp tax?
i would think not. at least as far as Corp Taxes. The corp is not doing business where it books are, but rather where the property is situated.
However, the individual has now moved to NYC and if it an ":S" corp, and it produces a profit, the income would be subject to tax on their individual return.
if it is a "C" corp and i hope not, then no to NYC taxes.
I suppose this issue is whether writing checks and paying payroll taxes. etc constitutes doing business in the City.
I believe you do have to file. You can apportion all of the income outside of the city.