KGCPA
Level 1
03-25-2021
02:54 PM
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Two clients formed an LLC registered with a Brooklyn, NY address. It's recognized as a partnership for IRS purposes. Their only business is an online podcast which they earn revenue for through streaming contracts--no physical studio, no events, no merchandise sold, etc. DO THEY HAVE TO FILE A NYC-204 FOR 2020???
sjrcpa
Level 15
03-25-2021
08:24 PM
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I bet NYC thinks so.
The more I know the more I don’t know.
KGCPA
Level 1
03-25-2021
09:42 PM
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I’m thinking the same thing. I’ll just file it regardless; it’s a no liability return, so no harm done if it’s unnecessary.
I've yet to find a tax expert who understands these little nuances pertaining to online services and the instructions seem to talk around the situation.
sjrcpa
Level 15
03-25-2021
10:09 PM
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Where do the clients' butts sit? Where are the computers they use?
I'm guessing they didn't pick Brooklyn out of thin air.
The more I know the more I don’t know.
