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

Form NYC-9.6 - 2013

Page 2

SCHEDULE A

Real estate tax escalation credit (Administrative Code Section 11-604.13)

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

(enter in columns A and B)

1e.

.......

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 General Corporation Tax that has relocated to leased

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

premises in New York City from a location outside New York State and has created

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

at least 100 industrial or commercial employment opportunities in the City is allowed

PART B, LINE 2a

a credit against the General Corporation Tax for the amount of any additional lease

payments actually made to the taxpayer's landlord that are based solely and directly

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

upon increased real estate taxes imposed upon the relocation premises. Before a tax-

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

payer can claim the credit, the taxpayer's eligibility must be approved and certified

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

by the Industrial and Commercial Incentive Board. The credit can be claimed annu-

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

ally for the length of the lease term, or for a period not to exceed ten years from the

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

date of relocation, whichever period is shorter.

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

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

"Employment opportunity"

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

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

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

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

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

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

PART B, LINE 2b

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

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

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

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

"Basic rent"

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

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

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

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

a monthly basis, and multiplying such amount by the number of months in the pe-

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

riod covered by this report.

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

Form Nyc-9.6 - Claim For Credit Applied To General Corporation Tax - 2013 Page 2

Related Articles

Related forms

Related Categories