Form Cr-A - Commercial Rent Tax Return - 2006/07 (Page 2 of 2) in pdf

Form CR-A for the tax period June 1, 2006 to May 31, 2007 ONLY

Page 2

IF ADDITIONAL SPACE IS REQUIRED FOR SUPPLEMENTS

YOU MAY MAKE PHOTOCOPIES OF THIS PAGE OR ATTACH A SCHEDULE

EACH LINE MUST BE ACCURATELY COMPLETED

YOUR DEDUCTION WILL BE DISALLOWED IF INACCURATE INFORMATION IS SUBMITTED

LINE

DESCRIPTION

PREMISES 1

PREMISES 2

PREMISES 3

1. Street Address ........................................................... 1.

and Zip Code ................................................................ ________________________________________________________________________________________

Block and Lot Number ................................................... ________________________________________________________________________________________

BLOCK

LOT

BLOCK

LOT

BLOCK

LOT

2. Gross Rent Paid (see instructions) ........................... 2. ________________________________________________________________________________________

3. Rent Applied to Residential Use .................................... ________________________________________________________________________________________

............................................... 4. ________________________________________________________________________________________

4. SUBTENANT'S NAME

Employer Identification Number (EIN) for

partnerships or corporations ................................................. G EIN ________________________ G EIN________________________ G EIN _______________________

Social Security Number for individuals ................................. G SSN _______________________ G SSN _______________________ G SSN _______________________

Rent received from SUBTENANT

(see instructions if more than one subtenant).................................. ___________________________________________________________________________________________________

5a. Other Deductions (attach schedule) .............................. ________________________________________________________________________________________

5b. Commercial Revitalization Program

special reduction (see instructions) ............................... ________________________________________________________________________________________

6. Total Deductions (add lines 3, 4, 5a and 5b) ................. ________________________________________________________________________________________

7. Base Rent Before Rent Reduction (line 2 minus line 6) ....... ________________________________________________________________________________________

8. 35% Rent Reduction (35% X line 7) .............................. ________________________________________________________________________________________

9. Base Rent Subject to Tax (line 7 minus line 8) .............. ________________________________________________________________________________________

If the line 7 amount represents rent for less than the full year, proceed to line 10, or

If the line 7 amount plus the line 5b amount is $249,999 or less and represents rent for a full year, transfer line 9 to line 13, or

If the line 7 amount plus the line 5b amount is $250,000 or more and represents rent for a full year, transfer line 9 to line 14

COMPLETE LINES 10, 11 AND 12 ONLY IF YOU RENTED PREMISES FOR LESS THAN THE FULL YEAR

10. Number of Months at Premises during the tax period ........

# of months

From:

# of months

From:

# of months

From:

To:

_________________________________________________________________________________________________________________

11. Monthly Base Rent before rent reduction

(line 7 plus line 5b divided by line 10)............................ ________________________________________________________________________________________

12. Annualized Base Rent before rent reduction

(line 11 X 12 months)..................................................... ________________________________________________________________________________________

If the line 12 amount is $249,999 or less, transfer the line 9 amount (not the line 12 amount) to line 13

If the line 12 amount is $250,000 or more, transfer the line 9 amount (not the line 12 amount) to line 14

RATE CLASS

TAX RATE

13. ($0 - 249,999)...................0% ... ________________________________________________________________________________________

14. ($250,000 or more).......... 6% ... ________________________________________________________________________________________

15. Tax Due before credit

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

___________________________________________________________________________________________________

(line 14 multiplied by 6%)

16. Tax Credit

..... ________________________________________________________________________________________

(see worksheet below)

Note: The tax credit only applies if line 7 plus line 5b (or line 12, if applicable) is at least $250,000, but is less than $300,000. All others enter zero.

Tax Credit Computation Worksheet

If the line 7 amount represents rent for the full 12 month period, your credit is calculated as follows:

(

)

Amount on line 15 X

$300,000 minus the sum of lines 7 and 5b

= _____________ = your credit

$50,000

If the line 7 amount represents rent for less than the full 12 month period, your credit is calculated as follows:

(

)

Amount on line 15 X