Instructions For Form Mt-160 - Boxing And Wrestling Exhibitions Tax Return (Page 2 of 2) in pdf

MT-160-I (12/01) (back)

the event. The rental that the promoter pays to the closed-circuit

Line 13 — If the amount on line 12 is less than the amount on

facility, whether a flat fee or a percentage of the admissions, is an

line 11, subtract line 12 from line 11, and enter the difference on

expense and does not reduce the promoter’s gross receipts subject

line 13. This is the amount you owe. Make your check payable to

to tax.

Commissioner of Taxation and Finance, and write Boxing and

Wrestling Exhibitions Tax and the event reference number on

Line 5 — Include all fees paid to the promoter for motion picture

your check.

rights, rebroadcast rights, and delayed broadcast rights. These

receipts may not be allocated.

Line 14 — If the amount on line 12 is greater than the amount on

line 11, subtract line 11 from line 12, and enter the difference on

Example

line 14. This is the amount we will refund to you.

Promoter C enters into a contract with New Jersey station D to

Privacy notification

broadcast an event on a delayed basis for $40,000. The total

$40,000 is subject to tax with no allocation for the non-New York

The Commissioner of Taxation and Finance may collect and maintain

personal information pursuant to the New York State Tax Law, including but

State audience.

not limited to, sections 171, 171-a, 287, 308, 429, 475, 505, 697, 1096,

Line 7 — Multiply the amount on line 6 by .03 (tax rate). Enter the

1142, and 1415 of that Law; and may require disclosure of social security

numbers pursuant to 42 USC 405(c)(2)(C)(i).

result on line 7, but do not enter more than $50,000, per event. The

tax on broadcasting rights is limited to the lesser of 3% of the gross

This information will be used to determine and administer tax liabilities and,

when authorized by law, for certain tax offset and exchange of tax

receipts from broadcasting rights, or $50,000, for each event.

information programs as well as for any other lawful purpose.

Line 9 — Interest on late payments — If you do not pay the tax

Information concerning quarterly wages paid to employees is provided to

due on or before the original due date, you must pay interest on the

certain state agencies for purposes of fraud prevention, support

enforcement, evaluation of the effectiveness of certain employment and

amount of the underpayment from the original due date of the

training programs and other purposes authorized by law.

return (without regard to any extension of time for filing) to the

Failure to provide the required information may subject you to civil or

date the tax is paid. Interest is always due, without any exceptions,

criminal penalties, or both, under the Tax Law.

on any underpayment of tax. An extension of time for filing does not

This information is maintained by the Director of the Registration and Data

extend the due date for the payment of tax.

Services Bureau, NYS Tax Department, Building 8, Room 338,

To have your interest computed for you, call the Business Tax

W A Harriman Campus, Albany NY 12227; telephone 1 800 225-5829.

From areas outside the United States and Canada, call (518) 485-6800.

Information Center at 1 800 972-1233.

Private delivery services

Line 10 — Penalty — additional charges for late filing and late

If you choose, you may use a private delivery service, instead of the U.S.

payment — Compute additional charges for late filing and late

Postal Service, to file your return. However, if, at a later date, you need to

payment on the amount of tax less any payment made on or before

establish the date you filed your return, you cannot use the date recorded

the due date (with regard to any extension of time for filing).

by a private delivery service unless you used a delivery service that has

been designated by the U.S. Secretary of the Treasury or the

A. If you do not file a return when due or if the request for

Commissioner of Taxation and Finance. If you have used a designated

extension is invalid, add to the tax 5% per month, up to a total of

private delivery service and need to establish the date you filed your return,

contact that private delivery service for instructions on how to obtain written

25% (section 1085(a)(1)(A)).

proof of the date your return was given to the delivery service for delivery.

B. If you do not file a return within 60 days of the due date, the

The current designated private delivery services are:

additional charge in item A cannot be less than the smaller of

Airborne Express (Airborne):

$100 or 100% of the amount required to be shown as tax

Overnight Air Express Service

(section 1085 (a)(1)(B)).

Next Afternoon Service

Second Day Service

C. If you do not pay the tax shown on a return, add to the tax ½%

DHL Worldwide Express (DHL):

per month, up to a total of 25% (section 1085(a)(2)).

DHL Same Day Service

DHL USA Overnight

D. The total of the additional charges in A and C may not exceed

Federal Express (FedEx):

5% for any one month except as provided for in B

FedEx Priority Overnight

(Section 1085(a)).

FedEx Standard Overnight

FedEx 2 Day

If you think you are not liable for these additional charges, attach a

United Parcel Service (UPS):

statement to your return explaining the delay in filing, payment, or

UPS Next Day Air

UPS Next Day Air Saver

both (section 1085).

UPS 2nd Day Air

UPS 2nd Day Air A.M.

Note: You may have the interest and penalty computed for you by

UPS Worldwide Express

calling the Business Tax Information Center at 1 800 972-1233.

UPS Worldwide Express Plus

Need help?

Penalty for understating tax

Telephone assistance is available from 8:30 a.m. to 4:25 p.m.

If the tax you report is understated by 10% or $5,000, whichever is

(eastern time), Monday through Friday.

Business Tax information: 1 800 972-1233

greater, you will have to pay a penalty of 10% of the amount of

Forms and publications: 1 800 462-8100

understated tax. You can reduce the amount on which you pay

From outside the U.S. and outside Canada: (518) 485-6800

penalty by subtracting any item for which (1) there is or was

Fax-on-demand forms: 1 800 748-3676

substantial authority for the way you treated it, or (2) there is

Hearing and speech impaired (telecommunications device for the

deaf (TDD) callers only): 1 800 634-2110 (8:30 a.m. to 4:25 p.m.,

adequate disclosure on the return or in an attached statement (see

eastern time)

Article 27, section 1085(k)).

Internet access:

Civil and criminal penalties

Persons with disabilities: In compliance with the Americans with

Strong civil and criminal penalties may be imposed for negligence

Disabilities Act, we will ensure that our lobbies, offices, meeting

and fraud. For more information contact the Taxpayer Assistance

rooms, and other facilities are accessible to persons with disabilities. If you

have questions about special accommodations for persons with disabilities,

Bureau (see Need help? for address and telephone numbers).

please call 1 800 225-5829.

Line 12 — If this is a supplemental or final return, enter the amount

If you need to write, address your letter to: NYS Tax Department,

of tax actually paid for this event on prior returns.

Taxpayer Assistance Bureau, W A Harriman Campus, Albany NY 12227.

Instructions For Form Mt-160 - Boxing And Wrestling Exhibitions Tax Return Page 2

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