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Recordkeeping

You must keep records that allow you to prepare complete and accurate tax returns for your business. You must also keep documents, such as canceled checks, receipts, cash register tapes, purchase orders, and other sales records to support your business records. Generally, you must keep records and supporting documents for at least three years after you file a return.

Your records may be in paper, electronic format, or both. You must be able to compare records from one time period (such as month, quarter, or year) with records from another period. You must make your records available to the Tax Department if we request them.

For more detailed information about starting or buying a small business, see Publication 20, New York State Tax Guide for New Businesses.

 


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Last Modified: September 24, 2008