If you are an employer in New, New York, it is important to be aware of the local payroll tax requirements for businesses operating in the city. These requirements may include registering your business with the city and withholding a certain percentage of your employees' wages for local taxes.
How to Register for Payroll Tax in New
New York Metropolitan Commuter Transportation Mobility Tax (MCTMT) Setup for
Corporation, LLC, LLP, Professional Corporation, PLLC
The Metropolitan Commuter Transportation Mobility Tax (MCTMT) is a tax imposed on employers "doing business" within the Metropolitan Commuter Transportation District (MCTD) e.g., NYC and surrounding counties. If you have at least $312,500 in quarterly payroll from employees located in the MCTD, you are required to withhold and pay MCTMT. The MCTD is defined as Manhattan, Bronx, Brooklyn, Queens, Staten Island, Rockland, Nassau, Suffolk, Orange, Putnam, Dutchess, and Westchester counties.
Determine if you Meet the Criteria for Paying MCTMT
Mark "Done" if you have at least $312,500 in quarterly payroll from employees located in the Metropolitan Commuter Transportation District, or are otherwise required to withhold and pay MCTMT.
Identify Employees that Qualify for MCTMT
An employee is considered to be a covered employee if the employee's services are allocated to the Metropolitan Commuter Transportation District. New York State provides guidance on determining if an employees is a covered employee.
Update Payroll Settings for Each Qualifying Employee
Some payroll providers need to be told which employees are covered by MCTMT so they can remit payment and file returns.
The limited liability company (LLC) entity type provides many advantages—like reducing the owners’ personal liability, and providing flexibility in tax classification and management structure.
Once you’ve established LLC status, you’ll need to comply with ongoing LLC compliance requirements to maintain LLC protections and avoid any penalties against your business. In most states, this includes filing an LLC annual report.
What is an LLC annual report? An LLC annual report is a brief overview of key facts about a limited liability company (LLC). It typically includes business contact information, contact information for owners (called “members” of the LLC), and a record of any major activities (such as change in ownership, business purpose, or location) during a given reporting period.
Mosey has successfully completed SOC2 Type 1 certification!
We understand that our customers rely on us to handle their critical workflows, and we take that responsibility seriously. Our SOC2 Type 1 certification is just one way that we show our commitment to keeping our customers’ data safe and secure.
SOC2 Type 1 certification is a significant milestone. It validates that our security practices and procedures are in line with industry standards and best practices. This certification is a testament to the hard work and dedication of our team, who continuously prioritize security.
In many states, paid sick leave laws are not a luxury — they’re a legal requirement to ensure employees can take short absences from work to care for themselves or family members.
While there are no federal paid sick leave laws, 15 states and the District of Columbia have adopted and legalized several laws of their own. That means private employers who operate in these states—or employ individuals who operate in them—must provide paid sick leave.
Gabrielle Sinacola |Jan 4, 2025
Ready to get started?
Schedule a free consultation to see how Mosey transforms business compliance.
