Form Nyc-114.6 - Claim For Credit Applied To Unincorporated Business Tax

form nyc-114.6 - 2016

Page 2

schEdulE A

Real estate tax escalation credit (Administrative code section 11-503(e))

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....................................................... 1.

2. Number of commercial employment opportunities relocated to New York City................................................... 2.

................................................................................................................................................................... 3.

ToTAl

computation of real estate tax escalation credit (see instructions)

B .

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 covered

coluMn A

coluMn B

coluMn c

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.

Increase in basic rent (line 1a less line 2a) ........................ 3.

column B. Add lines 1a through 1e.

ToTAl

(enter total in columns B and C) ............................................................................... 4.

column A. Add lines 1c through 3.

ToTAl

(enter total in columns A and C) ......................................... 5.

6. Line 4 less line 5................................................................................................................................................... 6.

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 page 1, parts I

and II, lines 1 and 4) ............................................................................................................................................ 7.

InsTRucTIons foR schEdulE A

A taxpayer subject to the Unincorporated Business Tax that has relocated to

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

leased premises in New York City from a location outside New York State and

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

has created at least 100 industrial or commercial employment opportunities in

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

the City is allowed a credit against the Unincorporated Business Tax for the

PART B, LINE 2a

amount of any additional lease payments actually made to the taxpayer's land-

Since the real estate tax escalation credit is the amount of the increased pay-

lord that are based solely and directly upon increased real estate taxes imposed

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

upon the relocation premises. To the extent this credit exceeds the taxpayer’s

addition to the real estate taxes imposed upon the leased premises, the basic

UBT liability calculated without this credit, it shall be refunded without inter-

rent originally to be paid under the lease for the premises must be determined.

est. Before a taxpayer can claim the credit, the taxpayer's eligibility must be

It should be computed as an amount due for one month notwithstanding the

approved and certified by the Industrial and Commercial Incentive Board. The

manner in which it is expressed in the lease for the premises. The basic month-

credit can be claimed annually for the length of the lease term, or for a period

ly rent as thus determined must then be multiplied by the number of months

not to exceed ten years from the date of relocation, whichever period is short-

in the taxable period covered by this report so that the period covered by this

er.

report may be compared to a comparable period based upon the basic rent

"Employment opportunity" means the creation of a full-time position (not

originally required to be paid.

less than 30 hours per week of gainful employment) for an industrial employ-

PART B, LINE 2b

ee (one engaged in the manufacturing or assembling of tangible goods or the

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

processing of raw materials) or commercial employee (one engaged in the

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

buying, selling or otherwise providing of goods or services other than on a

attributable to the premises, you must enter on line 2b an amount to be deter-

retail basis directly to the ultimate user or consumer) and the actual hiring of

mined by computing the amount that would be due per month, if such required

such employee for that position.

payment were figured on a monthly basis and multiplying such amount by the

"Basic rent" means the rent provided for under a written lease for the use or

number of months in the period covered by this report.

occupancy of premises, excluding separately stated amounts required to be

paid under the lease for such items as real estate taxes, maintenance expenses

or fuel adjustments.

Form Nyc-114.6 - Claim For Credit Applied To Unincorporated Business Tax - 2016 Page 2

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