Form Nyc-9.8utx Draft - Claim For Lower Manhattan Relocation Employment Assistance Program (Lmreap) Credit Applied To The Utility Tax - 2011 Page 2
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2Form NYC-9.8UTX - 2011
Page 2
General Information
years 2011 and thereafter. For relocations where the credit is
non-refundable fill out lines 2 through 11 of this section and
not line 1.
The first calendar year for which LMREAP credits are available
against the Utility Tax is 2003. The first calendar year for which
The non-refundable LMREAP credit for the last tax period
a non-refundable credit is possible is 2008.
of the calendar year is limited to the tax imposed for such pe-
riod less the REAP credit. It must be taken after the REAP
LMREAP benefits are available only to taxpayers that have pre-
credit but before all other credits. If the allowable non-re-
viously applied to the New York City Department of Finance and
fundable credit exceeds the tax imposed for the period, the
received a Certificate of Eligibility.
excess may be carried over to tax periods in the five immedi-
ately succeeding taxable years and, to the extent not previ-
In order for a vendor of Utility Services to take a LMREAP credit
ously utilized, may be credited against the taxpayer's tax for
against the Utility Tax, it must elect to do so at the time of sub-
such periods.
mission of its LMREAP application to the Department of Fi-
nance. Any Vendor of Utility Services that has qualified for
Line 2
LMREAP but has not so elected, must take its credit against the
Enter here the appropriate amount:
General Corporation Tax, the Unincorporated Business Tax or
the Bank Tax, whichever is applicable.
Filers of Form NYC-UXRB --
Schedule A, line 24 less line 25a
You must attach your annual certificate of eligible aggregate em-
Filers of Form NYC-UXP --
ployment shares (ACEAES) received from the New York City
Schedule A, line 19 less line 20a
Department of Finance and your initial Certificate of Eligibility
Filers of Form NYC-UXS --
for each relocation for which you are claiming credit.
Schedule A, line 14 less line 15a
A LMREAP credit that is earned in a given calendar year may be
Line 4
taken in that year only on the return for the last tax period of the
The amount on line 4 represents the amount of your LMREAP
year against the tax due for that period.
credit that you can carry forward to the next five taxable years
and apply against the tax for such years. If line 3 is equal to line
A carryover credit from a preceding year may be taken on the re-
2 enter zero on line 4 and skip lines 5 through 8. Enter the
turn for any tax period in a calendar year including the last pe-
amount from line 4 on line 4e of Section II of your next year’s
riod.
Form NYC 9.8UTX.
Section II
A separate Form NYC-9.8UTX must be filled out and attached
to the appropriate Utility Tax return for any tax period for which
a LMREAP Credit is claimed. For the last tax period of a calen-
The amount of credit allowable for any taxable period other than
dar year, complete only section I. For any other tax period, com-
the last period of the calendar year is limited to the tax imposed
plete only Section II.
for such period.
Specific Instructions
Instructions – LMREAP Carryover Schedules. Sections I and II
Section I
If you have carryover credits from preceding years, complete the
applicable carryover schedule regardless of whether you will carry
over credits to the current period. Enter on each line in column B
The credit is refundable if the calendar year for which the
the amount from each carryover year starting with the earliest pre-
credit is being claimed is either the year of the relocation or
ceding carryover year that can be applied to the current period.
one of the four taxable years immediately succeeding the year
The total amount of carryover credits applied to the current period,
of the relocation. For example, if the year of relocation is the
column B, line 9f or 4f, whichever applies, cannot exceed the
calendar year 2004, the credit will be refundable for the last
amount on Section I, line 7 or Section II, line 3, whichever applies.
tax period in calendar years 2004 through 2008.
For 2010, the earliest preceding carryover year is 2008 (line 9d or
No refundable credits are allowed in any period other than
4d, whichever applies).
the last tax period of the calendar year. If the credit is re-
fundable, fill out lines 1 and 11 and skip lines 2 through 10.
The credit is non-refundable for later calendar years. For
example, if the year of relocation is the calendar year 2004,
the credit will be nonrefundable for all periods in the calendar
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