I own a Delaware-incorporated company but operate using a New York bank account tied to a virtual address. My business earns revenue across multiple states. How do I determine where to report taxes, and does New York consider the virtual address as a physical presence?
Answer by: abdullah-al-naim
4 days ago
The tax obligations depend on various factors:
Delaware Taxes: As the state of incorporation, Delaware requires corporate income tax filings.
Physical Presence in New York: If the virtual address or other factors (e.g., revenue from New York clients) establish a presence, New York taxes may apply.
Revenue Source: Taxes may also depend on where the business operates and earns income.
Consulting a tax professional or an expert is recommended to ensure compliance with Delaware and New York tax laws, especially considering the complexities of multi-state taxation and potential residency or immigration factors.
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