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NYC Administrative Code

§ 11-505 — Unincorporated business taxable income.

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What is NYC AC § 11-505?

Quick Answer

This section defines unincorporated business taxable income as the excess of gross income over deductions allocated to the city, minus specific deductions and exemptions outlined in sections 11-509 and 11-510. Applies to unincorporated businesses operating within the city.

General informational summary. Not legal advice for your situation. Consult an attorney before acting on any specific matter.

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§ 11-505 Unincorporated business taxable income.

AC § 11-505

The unincorporated business taxable income of an unincorporated business shall be the excess of its unincorporated business gross income over its unincorporated business deductions, allocated to the city, less the amount of: (1) Its deductions under section 11-509 of this chapter not subject to allocation; and (2) Its unincorporated business exemptions under section 11-510 of this chapter.

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