Topic: Paying IRS / NYC / NYS taxes for condo/coop association?
Paying IRS / NYC / NYS taxes for condo/coop association?
I am the treasurer for a new small 4 unit brownstone. We are about to file the taxes for last year. I understand that for the IRS we need to file 1120H. But what forms do we need to file for NYS and NYC? I can’t seem to find any info on this anywhere.
Am I correct to assume that NYS and NYC will consider us a corporation and we need to pay taxes on the paid condo fees collected last year?