New York compliance at a glance
- Sales tax: 4.00% state rate. Many services taxable (info, parking, repair). Combined 8-8.875%.
- Late fees: Up to 2% per month. (NY Gen. Oblig. Law §5-501) Civil usury cap 16%/yr (1.33%/mo); construction Prompt Pay allows 1%/mo.
- Written contracts: Required for jobs over $500.
- Prompt-pay law: NY Prompt Payment Act (General Business Law Article 35-E). Payment due within 30 days of approved invoice; 1% per month interest if late.
New York metros
- New York19,498,249 residents · 0% combined tax
- Buffalo1,155,604 residents · 0% combined tax
- Rochester1,052,087 residents · 0% combined tax
- Albany904,682 residents · 0% combined tax
- Kiryas Joel704,620 residents · 0% combined tax
- Syracuse652,956 residents · 0% combined tax
- Utica287,039 residents · 0% combined tax
- Binghamton243,792 residents · 0% combined tax
- Kingston182,333 residents · 0% combined tax
- Glens Falls125,427 residents · 0% combined tax
- Watertown114,787 residents · 0% combined tax
- Ithaca103,558 residents · 0% combined tax
- Elmira81,325 residents · 0% combined tax