Form Nyc-9.6 - Claim For Credit Applied To General Corporation Taxes

form Nyc-9.6 - 2016

page 2

scHedule a

real estate tax escalation credit (administrative code sections 11-604.13 and 11-654(13))

The real estate tax escalation credit may be claimed only if the taxpayer's eligibility to receive the credit has been approved and certified by the Industrial

and Commercial Incentive Board. No credit will be allowed unless a copy of the Certificate of Eligibility issued by the Industrial and Commercial Incentive

Board is attached to Schedule A.

a .

general information

1. Number of industrial employment opportunities relocated to New York City

..............................................................

2. Number of commercial employment opportunities relocated to New York City

........................................................

total

...............................................................................................................................................................................................................................

B .

computation of real estate tax escalation credit (see instructions)

1. Current rent information - for the period covered by this report,

COLUMN A

COLUMN B

COLUMN C

enter the following amounts if payment is required under lease:

a. Basic rent paid or required to be paid to landlord for premises

1a.

....................................................

b. Real estate tax payments attributable to premises

1b.

........................................................................

c. Fuel adjustment expense paid to landlord (enter in

columns A and B)

1c.

...........................................................................................

d. Maintenance expense paid to landlord

(enter in columns A and B)

1d.

.............................................................................

e. Other amounts paid to landlord

1e.

(enter in columns A and B)

.......

2. Initial rent information - Compute amounts as if the specified

rent items below were paid for same number of months as cov-

COLUMN A

COLUMN B

COLUMN C

ered by this report (see instructions)

a. Original basic rent (see instructions)

2a.

................................................

b. Original payments required for real estate taxes

attributable to premises (see instructions)

2b.

...................................

3. Increase in basic rent (line 1a less line 2a)

........................................

column B. Add lines 1a through 1e. (enter total in columns B and C)

total

........................

column A. Add lines 1c through 3.

total

(enter total in columns A and C)

...................................................................

6. Line 4 less line 5

7. Enter amount claimed as real estate tax escalation credit (payment actually made during period covered

by this report attributable to an increase or addition to the real estate taxes imposed on leased premises).

This should be the same as amount entered on line 6

(if not, explain on rider) (enter on pg. 1, parts I and II, lines 1 and 4)

INstructIoNs for scHedule a

A corporation subject to the Business Corporation Tax or General Corporation Tax

ments. If more than one premises is included in the computation of the credit, at-

that has relocated to leased premises in New York City from a location outside New

tach a separate rider in the form of Schedule A for each such premises, and enter

York State and has created at least 100 industrial or commercial employment op-

the sum of the amounts shown on such separate riders on Schedule A.

portunities in the City is allowed a credit against the Business Corporation Tax or

PART B, LINE 2a

General Corporation Tax for the amount of any additional lease payments actually

made to the taxpayer's landlord that are based solely and directly upon increased real

Since the real estate tax escalation credit is the amount of the increased payments

estate taxes imposed upon the relocation premises. To the extent this credit exceeds

actually made that are solely and directly attributable to an increase or addition to

the taxpayer’s tax liability calculated without this credit, it shall be refunded with-

the real estate taxes imposed upon the leased premises, the basic rent originally to

out interest. Before a taxpayer can claim the credit, the taxpayer's eligibility must be

be paid under the lease for the premises must be determined. It should be com-

approved and certified by the Industrial and Commercial Incentive Board. The credit

puted as an amount due for one month, notwithstanding the manner in which it is

can be claimed annually for the length of the lease term, or for a period not to exceed

expressed in the lease for the premises. The basic monthly rent as thus determined

ten years from the date of relocation, whichever period is shorter.

must then be multiplied by the number of months in the taxable period covered by

this report so that the period covered by this report may be compared to a compa-

"Employment opportunity"

means the creation of a full-time position (not less

rable period based upon the basic rent originally required to be paid.

than 30 hours per week of gainful employment) for an industrial employee (one en-

gaged in the manufacturing or assembling of tangible goods or the processing of raw

PART B, LINE 2b

materials) or commercial employee (one engaged in the buying, selling or otherwise

If, beginning with the inception of the term, the lease for the premises requires that

providing of goods or services other than on a retail basis directly to the ultimate

an amount separate from the basic rent must be paid for real estate taxes attributa-

user or consumer) and the actual hiring of such employee for that position.

ble to the premises, you must enter on line 2b an amount to be determined by com-

puting the amount that would be due per month, if such required payment were

"Basic rent"

means the rent provided for under a written lease for the use or oc-

figured on a monthly basis, and multiplying such amount by the number of months

cupancy of premises, excluding separately stated amounts required to be paid under

in the period covered by this report.

the lease for such items as real estate taxes, maintenance expenses or fuel adjust-

Form Nyc-9.6 - Claim For Credit Applied To General Corporation Taxes - 2016 Page 2

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