Form Nyc-9.5utx - Claim For Reap Credit Applied To The Utility Tax

Form NYC-9.5UTX - 2011

Page 2

General Information

application on or after July 1, 2003 the applicable amount is based on the

date of relocation. In completing line 2, use the appropriate applicable

The first calendar year for which REAP credits are available against the Utility

amount below:

Tax is 1999.

If you submitted your application before July 1, 2003, the applicable

REAP benefits are available only to taxpayers that have previously applied to

amount is $1,000 if either your certification of eligibility for REAP is

the New York City Department of Finance and received a Certificate of Eligi-

dated before July 1, 2000, or your relocation was not to a revitalization

bility.

area (as defined in subdivision (n) of section 22-521 of the New York City

Administrative Code.)

If you have relocated more than once, attach a schedule showing your appor-

tionment of eligible aggregate employment shares to each relocation. See Ad-

If you submitted your application before July 1, 2003, the applicable

ministrative Code §11-1105.2(a).

amount is $3,000 if both your certification of eligibility for REAP is dated

on or after July 1, 2000 and your relocation was to a revitalization area.

In order for a vendor of Utility Services to take a REAP credit against the Utility

Tax, it must elect to do so at the time of submission of its REAP application to

If you submitted your application on or after July 1, 2003, the applicable

the Department of Finance. Any Vendor of Utility Services that has qualified

amount is $1,000 if your relocation was before July 1, 2000, or was not

for REAP but has not so elected, must take its credit against the General Cor-

to a revitalization area. If you submitted your application on or after

poration Tax, the Unincorporated Business Tax or the Bank Tax, whichever is

July 1, 2003, the applicable amount is $3,000 if your relocation was on

applicable.

or after July 1, 2000 and was to a revitalization area.

You must attach your annual certificate of eligible aggregate employment

Line 3

shares (ACEAES) received from the New York City Department of Finance

The amount on line 3 represents the amount of your REAP credit that you

and your initial Certificate of Eligibility for each relocation for which you are

can carry forward to taxable periods in the next five calendar years. Enter

claiming credit.

this amount on line 4e of Section II of your Form NYC 9.5UTX for your

first taxable period in the next calendar year.

A REAP credit that is earned in a given calendar year may be taken in that year

only on the return for the last tax period of the year against the tax due for that

The credit is refundable only if all of the following three criteria are

period.

met:

A carryover credit from a preceding year may be taken on the return for any

1. the initial Certification of Eligibility must be dated on or after July 1,

tax period in a calendar year including the last period.

2000;

2. the relocation must be to eligible premises located in a "Revitalization

A separate Form NYC-9.5UTX must be filled out and attached to the appro-

Area" as defined in subdivision (n) of §22-621 of the New York City Ad-

priate Utility Tax return for any tax period for which a REAP Credit is claimed.

ministrative Code;

For the last tax period of a calendar year, complete only section I. For any other

tax period, complete only Section II.

3. the calendar year for which the credit is being claimed must be either the

Specific Instructions

year of the relocation or one of the four taxable years immediately suc-

ceeding the year of the relocation.

Section 1

Instructions - REAP Carryover Schedules

The credit is non-refundable unless all of the three criteria listed below

If you have carryover credits from preceding years, complete the applicable

are met. For relocations where the credit is non-refundable fill out lines 1

carryover schedule regardless of whether you will carry over credits to the

through 9 of this section and not line 10. If all of the three criteria are met

current period. Enter on each line in column B the amount applied to the

the credit is refundable. If the credit is refundable, skip lines 1 through 9

current period from each carryover year starting with the earliest preceding

and fill out line 10.

carryover year (line 8a or 4a, whichever applies) that can be applied to the

current period. The total amount of carryover credits applied to the current

The non-refundable REAP credit for the last tax period of the calendar

period, column B, line 8f or 4f, whichever applies, cannot exceed the

year is limited to the tax imposed for such period. It must be taken before

amount on Section I, line 6 or Section II, line 3, whichever applies.

all other credits. If the allowable non-refundable portion of the credit ex-

Section II

ceeds the tax imposed for the period, the excess may be carried over to tax

periods in the five immediately succeeding taxable years and, to the extent

not previously utilized, may be credited against the taxpayer's tax for such

No refundable credits are allowed in any period other than the last

periods.

period of the calendar year.

The amount of credit allowable for any taxable period other than the last

Schedule A

period of the calendar year is limited to the tax imposed for such period.

Line 2

If you submitted your application before July 1, 2003 the applicable amount

is based on the date of the certification of eligibility. If you submitted your

Form Nyc-9.5utx - Claim For Reap Credit Applied To The Utility Tax - 2011 Page 2

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