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Form NYC-204

KGCPA
Level 1

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???

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3 Replies 3
sjrcpa
Level 15

 I bet NYC thinks so.


ex-AllStar
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KGCPA
Level 1

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. 

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sjrcpa
Level 15

Where do the clients' butts sit? Where are the computers they use?

I'm guessing they didn't pick Brooklyn out of thin air.


ex-AllStar
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