Instructions For Form Nyc-204 -Partnership Return

Instructions for Form NYC-204 - 2010

Page 14

LINES 4A AND 4B -

as it would be for federal income tax purposes

PRIVACY ACT NOTIFICATION

Lines 4a and 4b should be completed only by

if the unincorporated business were an indi-

The Federal Privacy Act of 1974, as amended, re-

those manufacturing businesses electing to

vidual taxpayer, but taking into account only

quires agencies requesting Social Security Num-

double-weight the receipts factor.

unincorporated business gross income and un-

bers to inform individuals from whom they seek

incorporated business deductions allocated to

this information as to whether compliance with

LINE 4a

New York City of the unincorporated business.

the request is voluntary or mandatory, why the

Add the percentages from column C on lines

request is being made and how the information

If the unincorporated business was carried on

1e, 2a, 3a and 3b and enter it on line 4a.

will be used. The disclosure of Social Security

both inside and outside New York City during

Numbers for taxpayers is mandatory and is re-

the year in which the net operating loss was

LINE 4b

quired by section 11-102.1 of the Administrative

sustained, the allowable 2010 net operating

Divide the total entered on line 4a by four, or,

Code of the City of New York. Such numbers dis-

loss deduction is determined by reference to

by three if either the property factor (Line 1e)

closed on any report or return are requested for

the allocation basis or method used in the year

or payroll factor (Line 2a) is missing, to the

tax administration purposes and will be used to

the loss was sustained, regardless of whether

nearest one hundredth of a percentage point.

facilitate the processing of tax returns and to es-

the unincorporated business was carried on

Note that a factor is not missing merely be-

tablish and maintain a uniform system for identi-

both inside and outside New York City during

cause its numerator is zero but is missing if

fying taxpayers who are or may be subject to

2010. The amount of loss allocated to New

both its numerator and denominator are zero.

taxes administered and collected by the Depart-

York City for the loss year is the amount to be

If both the property factor (Line 1e) and pay-

ment of Finance, and, as may be required by law,

entered on line 1 of Schedule F.

roll factor (Line 3a) are missing, the additional

or when the taxpayer gives written authorization

receipts factor election should not be used.

to the Department of Finance for another depart-

LINES 2, 3, 4 and 5

ment, person, agency or entity to have access

For purposes of completing lines 2 through 5,

WEIGHTED FACTOR ALLOCATION

(limited or otherwise) to the information con-

the amount of loss absorbed in a year is deter-

tained in his or her return.

mined without regard to changes in interests of

LINE 5a

the member partners.

Those taxpayers using the weighted factor al-

location should add the percentages from col-

LINE 7

umn C, lines 1f, 2b and 3c.

If the amount on Schedule A, line 10 is a loss,

enter "0."

LINE 5b

Divide line 5a by 100 if no factors are missing.

If you are submitting a Schedule F for more

If a factor is missing, divide line 5a by the total

than one loss year, enter on line 7 of Schedule

of the weights of the factors present. Note that

F for the earliest loss year the amount from the

a factor is not missing merely because its nu-

current year's Schedule A, line 10. On the

merator is zero but is missing if both its nu-

Schedule F for any subsequent loss year, enter

merator and denominator are zero. Round to

on line 7 the amount from the current year's

the nearest hundredth of a percentage point.

Schedule A, line 10, reduced by the sum of the

amounts entered on Schedules F, line 12 for

LINE 6 - BUSINESS ALLOCATION

any earlier loss years.

PERCENTAGE

Manufacturing businesses which elected to

For limitations on the net operating loss de-

double weight should enter the percentage from

duction of a partnership where the interests of

column C, line 4b. Those businesses using the

the member partners have changed between a

weighted factor allocation method should enter

loss year and the year for which the deduction

the amount from column C, line 5b.

is claimed, refer to Section 11-507(2)(b) of the

NYC Administrative Code and 19 RCNY Sec-

The following example illustrates the calcula-

tion 28-06(c)(3).

tion of the business allocation percentage using

weighted factors:

LINE 12

Multiply the percentage on line 11 by the

EXAMPLE

amount on line 8. The excess, if any, of the

1e.

25.00%

amount on line 8 over the amount entered on

2a.

35.61%

line 12 is considered absorbed and is not avail-

3a.

65.22%

able as a carryover to another year.

The amount on lines 1f, 2b, 3c, 5a and 5b

SCHEDULE G

should be calculated as follows:

Additional Required Information

All questions in this schedule (questions 1

1f.

25.00 X 27

675.00

through 11) must be answered.

2b.

35.61% X 27

961.47

3c.

65.22% X 46

3000.12

For interest calculations and account information,

5a.

Sum of above

4636.59

call 311. If calling from outside of the five NYC

5b.

divide 5a by 100.

boroughs, please call 212-NEW-YORK (212-

Express as a percentage -

46.37%.

639-9675).

SCHEDULE F

You can also visit the Finance website at:

Net Operating Loss Deduction

nyc.gov/finance

The net operating loss deduction allowable on

Form NYC-204 is computed in the same man-

ner for unincorporated business tax purposes

NYC-204 Instructions 2010

Instructions For Form Nyc-204 -Partnership Return - 2010 Page 15

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