Manhattan taxpayers, be aware of the Commercial Rent Tax

By Wiss, Posted in State & Local Tax Services

By Kyle Pennacchia and Paul Ursich In New York City, the Commercial Rent Tax (CRT) is often overlooked, and many of those who miss it face penalites and interest for late or missed filings.    Here’s a brief introduction to the tax, basic qualifications and links to more detailed information. Are you subject to the CRT? The CRT applies to Manhattan tenants who occupy or use property south of 96th Street for most trade, business, professional and commercial transactions. As with most taxe... read more.