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Form NYC-9.5 - 2010

Page 2

INSTRUCTIONS

Carryover Schedule

Filers of Form NYC-1A - subtract the amount

on line 9 of Schedule A of the NYC-1A from

If you have carryover credits from preceding

General Information

the amount on line 8 of that schedule and enter

years, complete the carryover schedule regard-

the result here.

less of whether you will use any of the carry-

over credits this year. Enter on each line in

REAP benefits are available only to taxpayers

Line 2

column B the amount from each carryover year

that have previously applied to the New York

If you submitted your application before July

starting with the earliest preceding carryover

City Department of Finance and received an

1, 2003, the applicable amount is based on the

year (line 8a) that can be applied to the current

Initial Certificate of Eligibility.

date of the certification of eligibility. If you

year. The total amount of carryover credits ap-

submitted your application on or after July 1,

plied to the current year (line 8f, column B)

If you have relocated more than once, attach a

2003, the applicable amount is based on the

cannot exceed the amount on line 4.

schedule showing your apportionment of eligible

date of relocation. In completing line 2, use

aggregate employment shares to each relocation.

The credit is refundable only if all of the fol-

the appropriate applicable amount below:

See Administrative Code §11-604(17)(a) and

lowing three criteria are met:

§11-643.7(a).

If you submitted your application before

1. the initial Certification of Eligibility must be

July 1, 2003 and your certification of eligi-

You must attach your annual certificate of eli-

dated on or after July 1, 2000;

bility for REAP is dated before July 1, 1995,

gible aggregate employment shares (ACEAES)

the applicable amount is $500.

received from the New York City Department

2. the relocation must be to eligible premises

of Finance and your initial Certificate of Eligi-

located in a "Revitalization Area" as defined

If you submitted your application before

bility for each relocation for which you are

in subdivision (n) of §22-621 of the New

July 1, 2003 the applicable amount is $1,000 if

claiming credit.

York City Administrative Code;

your certification of eligibility for REAP is

dated on or after July 1, 1995 and either your

Specific Instructions

3. the taxable year for which the credit is being

certification of eligibility is dated before July

claimed must be either the year of the reloca-

1, 2000, or your relocation was not to a revi-

tion or one of the four taxable years immedi-

The credit is non-refundable unless all of the

talization area (as defined in subdivision (n)

ately succeeding the year of the relocation.

three criteria listed below are met. For relo-

of section 22-521 of the New York City Ad-

cations where the credit is non-refundable fill

NOTE

ministrative Code.)

out lines 1 through 9 of this schedule and not

This form may no longer be used to claim

line 10. If all of the three criteria are met the

If you submitted your application before

Sales and Use Tax Credits.

credit is refundable. If the credit is refundable,

July 1, 2003, the applicable amount is $3,000

skip lines 1 through 9 and fill out line 10.

if both your certification of eligibility for

The credit for sales and use taxes paid on elec-

REAP is dated on or after July 1, 2000 and

tricity or electric service used in the production

A non-refundable REAP credit is limited to the

your relocation was to a revitalization area.

of tangible personal property formerly allowed

tax imposed for the year less the UBT paid

by Admin. Code §11-604.15 has been repealed

Credit. It must be taken before all other cred-

If you submitted your application on or after

for purchases on or after November 1, 2000.

its except the UBT paid credit. If the allowable

July 1, 2003 but your relocation was before

This credit may no longer be taken and no ad-

non-refundable portion of the credit exceeds the

July 1, 1995, the applicable amount is $500.

justment to income or tax should be made with

tax imposed for the year less the UBT Paid

respect to this credit.

If you submitted your application on or after

Credit, the excess may be carried over to the

July 1, 2003 and your relocation was on or

five immediately succeeding taxable years and,

Purchases of machinery or equipment used in pro-

after July 1, 1995, the applicable amount is

to the extent not previously utilized, may be

duction for which a credit is allowed by Admin.

$1,000 if your relocation was before July 1,

credited against the taxpayer's tax for such

Code §11-604.12 were exempted from sales tax

2000 or was not to a revitalization area.

years.

effective December 1, 1989. Purchases of serv-

ices performed on machinery or equipment used

If you submitted your application on or after

Line 1

in production for which a credit is allowed by

July 1, 2003, the applicable amount is $3,000

Filers of Form NYC-3L - add the amounts on

Admin. Code §11-604.17-a were exempted from

if your relocation was on or after July 1, 2000

lines 6 and 12 of Schedule A of the NYC-3L

sales tax effective September 1, 1996. Credits

and was to a revitalization area.

then subtract the amount on line 7 of that sched-

may be taken under these two provisions (and cor-

ule. Enter the result here.

responding addbacks to income should be made)

Line 3

only if the sales tax payment was made in the cur-

The amount on line 3 represents the amount of

Filers of Form NYC-3A - add the amounts on

rent year with respect to a purchase in a period

your REAP credit that you can carry forward to

lines 8 and 14 of Schedule A of the NYC-3A

when the applicable sales tax was effective.

the next five taxable years and apply against the

then subtract the amount on line 9 of that sched-

tax for such years. Enter the amount from line

ule. Enter the result here.

If you wish to claim a credit pursuant to

3 on line 8e of the Carryover Schedule of your

§11-604.12, a form NYC 9.5 for the year

Filers of Form NYC-1 - subtract the amount on

next year’s Form NYC 9.5. See Instructions

1990 or a prior year should be used. If you

line 7 of Schedule A of the NYC-1 from the

for Carryover Schedule below.

wish to claim a credit pursuant to §11-

amount on line 6 of that schedule and enter the

604.17-a, a form NYC 9.5 for the year 2000

result here.

or a prior year should be used.

Form Nyc-9.5 - Claim For Reap Credit Applied To General Corporation Tax And Banking Corporation Tax - 2010 Page 2

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