Nyc-114.5 - Claim For Sales Tax Or Reap Credit Applied To Unincorporated Business Tax Page 4
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4Form NYC-114.5 - 2000
Page 4
SCHEDULE B
Relocation and Employment Assistance Program (REAP) Credit
NOTE:
If your Certificate of Eligibility is dated on or after July 1, 2000, and you relocated to a “Revitalization Zone”, do not use this
schedule. A revised schedule will be available on the New York City Department of Finance website at
Attach annual certificate of eligible aggregate employment shares received from NYC Department of Finance.
If you have carryover credits from preceding years, complete the carryover schedule below regardless of whether you will carry over
credits to the current year. Enter in column B (the applied column) the amount applied to each carryover year until the total applied
agrees with the amount on line 6.
Credit applied against Unincorporated Business Tax
1. Current year’s tax, including sales tax addback less the business tax credit and the UBT paid credit
1.
(amount from NYC-202, pg. 1, Schedule A, line 21 or NYC-204, page 1, Schedule A, line 23)
......
2. Computation of current year’s credit:
2.
(number of eligible aggregate employment shares: ___________ X the applicable amount (see instructions))
.........
3. If line 2 is greater than line 1, enter the difference and skip lines 4 through 7. Transfer amount
3.
on line 1 to line 9
. ...........................................................................................................................................................
4. If line 2 is less than line 1, enter the difference. Complete carryover schedule below.
4.
........................
5. Total carryover credits from prior taxable years (line 8f, column A below)
5.
...............................................
6. Amount of carryover credit that may be carried over to the current year.
6.
Enter lesser of line 4 or line 5
....................................................................................................................................
7. Total allowable credit for current year. Sum of the current year credit plus the applicable
7.
carryover from prior years. Add lines 2 and 6. Enter amount on line 9
. .....................................................
REAP carryover schedule
COLUMN B
COLUMN C
COLUMN A
A
C
N
Y
C
C
Y
PPLIED
You may not carry over the 5th
ARRYOVER TO
EXT
EAR
ARRYOVER TO
URRENT
EAR
(column A minus column B)
preceding year’s credit to next year.
(unused credit)
8a. Carryover from 5th preceding year
8a.
....
8b. Carryover from 4th preceding year
8b.
....
8c. Carryover from 3rd preceding year
8c.
....
8d. Carryover from 2nd preceding year
8d.
...
8e. Carryover from 1st preceding year
8e.
....
8f. Total
8f.
.............................................................
9. Allowable REAP credit for current year (amount from line 1 or line 7, whichever is less)
9.
........................
Transfer amount to page 1, part I, line 2.
INSTRUCTIONS FOR LINE 2
If your certification of eligibility for REAP is dated before July 1, 1995, the applicable amount is $500. If it is dated on or after July 1,
1995, the applicable amount is $1,000.
REAP INFORMATION
1.
REAP benefits are available only to taxpayers that have previously applied to the New York City Department of Finance and
received a Certificate of Eligibility.
Attach annual certificate of eligible aggregate employment shares (ACEAES) received from the New York City Department of
Finance.
2.
The amount of credit allowable for any taxable year is limited to the tax imposed for such year less the business tax credit and
the UBT paid credit. The REAP credit must be taken before all other credits except the business tax credit and the UBT paid
credit.
3.
If the allowable credit exceeds the tax imposed for such year, the excess may be carried over, in order, to the five immediately
succeeding taxable years and, to the extent not previously utilized, may be credited against the taxpayer’s tax for such years.
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