Form Nyc-9.5 Draft - Sample Claim For Reap Credit Applied To Business, General And Banking Corporation Taxes - 2015 Page 2

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Form NYC-9.5 - 2015
page 2
INSTRUCTIONS
your certification of eligibility for REAP is
3. the taxable year for which the credit is being
dated on or after July 1, 1995 and either your
claimed must be either the year of the reloca-
General Information
certification of eligibility is dated before July
tion or one of the four taxable years immedi-
1, 2000, or your relocation was not to a revi-
ately succeeding the year of the relocation.
talization area (as defined in subdivision (n)
REAP benefits are available only to taxpayers
NOTE
of section 22-521 of the New York City Ad-
that have previously applied to the New York
This form may no longer be used to claim
ministrative Code.)
City Department of Finance and received an
Sales and Use Tax Credits.
Initial Certificate of Eligibility.
If you submitted your application before
The credit for sales and use taxes paid on elec-
July 1, 2003, the applicable amount is $3,000
If you have relocated more than once, attach a
tricity or electric service used in the production
if both your certification of eligibility for
schedule showing your apportionment of eligible
of tangible personal property formerly allowed
REAP is dated on or after July 1, 2000 and
aggregate employment shares to each relocation.
by Admin. Code §11-604.15 has been repealed
your relocation was to a revitalization area.
See Administrative Code §11-604(17)(a) and
for purchases on or after November 1, 2000.
§11-643.7(a).
If you submitted your application on or after
This credit may no longer be taken and no ad-
July 1, 2003 but your relocation was before
justment to income or tax should be made with
You must attach your annual certificate of eli-
July 1, 1995, the applicable amount is $500.
respect to this credit.
gible aggregate employment shares (ACEAES)
received from the New York City Department
If you submitted your application on or after
Purchases of machinery or equipment used in pro-
of Finance and your initial Certificate of Eligi-
July 1, 2003 and your relocation was on or
duction for which a credit is allowed by Admin.
bility for each relocation for which you are
after July 1, 1995, the applicable amount is
Code §11-604.12 were exempted from sales tax
claiming credit.
$1,000 if your relocation was before July 1,
effective December 1, 1989. Purchases of serv-
2000 or was not to a revitalization area.
ices performed on machinery or equipment used
Specific Instructions
in production for which a credit is allowed by
If you submitted your application on or after
Admin. Code §11-604.17-a were exempted from
July 1, 2003, the applicable amount is $3,000
The credit is non-refundable unless all of the
sales tax effective September 1, 1996. Credits
if your relocation was on or after July 1, 2000
three criteria listed below are met. For relo-
may be taken under these two provisions (and cor-
and was to a revitalization area.
cations where the credit is non-refundable fill
responding addbacks to income should be made)
out lines 1 through 9 of this schedule and not
only if the sales tax payment was made in the cur-
Line 3
line 10. If all of the three criteria are met the
rent year with respect to a purchase in a period
The amount on line 3 represents the amount of
credit is refundable. If the credit is refundable,
when the applicable sales tax was effective.
your REAP credit that you can carry forward to
skip lines 1 through 9 and fill out line 10.
If you wish to claim a credit pursuant to
the next five taxable years and apply against the
A non-refundable REAP credit is limited to the
§11-604.12, a form NYC 9.5 for the year
tax for such years. Enter the amount from line
tax imposed for the year less the UBT paid
1990 or a prior year should be used. If you
3 on line 8e of the Carryover Schedule of your
Credit. It must be taken before all other cred-
next year’s Form NYC 9.5. See Instructions
wish to claim a credit pursuant to §11-
its except the UBT paid credit. If the allowable
604.17-a, a form NYC 9.5 for the year 2000
for Carryover Schedule below.
non-refundable portion of the credit exceeds the
or a prior year should be used.
tax imposed for the year less the UBT Paid
Carryover Schedule
Credit, the excess may be carried over to the
If you have carryover credits from preceding
five immediately succeeding taxable years and,
years, complete the carryover schedule regard-
to the extent not previously utilized, may be
less of whether you will use any of the carry-
credited against the taxpayer's tax for such
over credits this year. Enter on each line in
years.
column B the amount from each carryover year
starting with the earliest preceding carryover
Line 2
year (line 8a) that can be applied to the current
If you submitted your application before July
year. The total amount of carryover credits ap-
1, 2003, the applicable amount is based on the
plied to the current year (line 8f, column B)
date of the certification of eligibility. If you
cannot exceed the amount on line 4.
submitted your application on or after July 1,
The credit is refundable only if all of the fol-
2003, the applicable amount is based on the
lowing three criteria are met:
date of relocation. In completing line 2, use
the appropriate applicable amount below:
1. the initial Certification of Eligibility must be
dated on or after July 1, 2000;
If you submitted your application before
July 1, 2003 and your certification of eligi-
2. the relocation must be to eligible premises
bility for REAP is dated before July 1, 1995,
located in a "Revitalization Area" as defined
the applicable amount is $500.
in subdivision (n) of §22-621 of the New
York City Administrative Code;
If you submitted your application before
July 1, 2003 the applicable amount is $1,000 if

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