Form Nyc-115 Draft - Unincorporated Business Tax Report Of Change In Taxable Income Made By Internal Revenue Service And/or New York State Department Of Taxation And Finance - 2015 Page 3
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4Form NYC-115 - 2015 - Instructions
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IMPORTANT INFORMATION CONCERNING FORM NYC-200V AND PAYMENT OF TAX DUE
Payments may be made on the NYC Department of Finance website at nyc.gov/eservices, or via check or money order. If
paying with check or money order, do not include these payments with your New York City return. Checks and money orders
must be accompanied by payment voucher form NYC-200V and sent to the address on the voucher. Form NYC-200V must be
postmarked by the return due date to avoid late payment penalties and interest. See form NYC-200V for more information.
G E N E R A L I N F O R M AT I O N
Preparer Authorization: If you want to allow the Department of Finance
to discuss your return with the paid preparer who signed it, you must check
(Pursuant to Title 11, Chapter 5 of the Administrative Code of the City of New York)
the "yes" box in the signature area of the return. This authorization applies
For taxable years beginning prior to January 1, 2015.
only to the individual whose signature appears in the "Preparer's Use Only"
This form is to be used by unincorporated businesses for reporting adjust-
section of your return. It does not apply to the firm, if any, shown in that
ments in taxable income resulting from an Internal Revenue Service audit of
section. By checking the "Yes" box, you are authorizing the Department of
your federal income tax return, and/or New York State Department of Taxa-
Finance to call the preparer to answer any questions that may arise during
tion and Finance audit of your New York State income tax return and must
the processing of your return. Also, you are authorizing the preparer to:
be filed within 90 days after a final determination or as required by the De-
Give the Department any information missing from your return,
partment of Finance. It must be accompanied by the amount of additional tax
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due. Explain federal or New York State adjustments in detail on Schedule A
Call the Department for information about the processing of your re-
of this form and attach an exact copy of the entire report of federal and/or
turn or the status of your refund or payment(s), and
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New York State findings. If you disagree with the results of a final determi-
Respond to certain notices that you have shared with the preparer
nation in a federal or State audit, complete the form showing the amount from
about math errors, offsets, and return preparation. The notices will
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column 1 in column 3, and attach a schedule showing the additional tax (or
not be sent to the preparer.
refund) due reporting the changes in accordance with the final determination
and attach a statement explaining why you believe the adjustments are erro-
You are not authorizing the preparer to receive any refund check, bind
neous. If no such statement is attached, the amount of the New York City tax
you to anything (including any additional tax liability), or otherwise rep-
resulting from the federal or State determination reported on this form as due
resent you before the Department. The authorization cannot be revoked,
will be deemed assessed on the date this form is filed. This form is to be filed
however, the authorization will automatically expire no later than the due
separately. Do not attach it to any tax return.
date (without regard to any extensions) for filing next year's return. Fail-
ure to check the box will be deemed a denial of authority.
This form is required if the taxpayer executes a waiver of restrictions
on assessments as provided in IRC section 6213(d) or NYS Tax Law
S P E C I F I C I N S T R U C T I O N S
section 681(f).
CALCULATION OF TAX
An amended New York City return must be filed within 90 days after
filing an amended federal or New York State return.
In Column A enter amounts from the latest New York City report or final
New York City Department of Finance adjustment prior to the filing of
NOTE:
this return. If you filed an amended return or if the amounts shown on
For tax years beginning on or after January 1, 2012, all taxpayers must
your original return were changed pursuant to a final Department of Fi-
allocate unincorporated business taxable income using formula alloca-
nance adjustment, attach documentation reflecting the New York City
tion. Tax year 2011 is the last taxable year in which eligible taxpayers
changes and a schedule showing your calculations.
who made the one-time election to continue using books and records al-
If you originally filed Form NYC-202S or NYC-204EZ, enter in Column
location for tax year 2005 may use this method of allocation. See section
A the amounts you would have reported if you had filed NYC-202 or
11-508(b) and (c) of the Administrative Code. Additionally, for tax years
NYC-204, respectively.
beginning before 2011, a manufacturing business may elect to calculate
its allocation percentage using a four-factor formula by doubleweight-
LINE 1
ing the receipts factor. See Administrative Code section 11-508 subd.
In column A enter the sum of the amount of the total business income you
(a), (c), and (g) and instructions to forms NYC-204 and 202.
reported on line 1, Schedule A, Form NYC-202, NYC-202EIN or NYC-
204 as originally filed or previously adjusted and the amount of the total
Changes to the Unincorporated Business Tax in effect for tax years be-
investment income you reported on Schedule A, Form NYC-204, NYC-
ginning on or after January 1, 2009, include: single factor allocation
202 or NYC-202EIN, as originally filed or previously adjusted.
using the receipts factor being phased in over a ten-year period; and an
increase in the credit for tax liability to a full credit for liabilities up to
In column B enter the net reportable changes from line 11 of Schedule A
$3400 and a partial credit for liabilities up to $5400. See Finance Mem-
on page 2 of this form.
orandum 09-2 “2009 Legislative Highlights” and instructions to forms
In column C add or subtract the amount in column B from column A.
NYC-204 and 202.
LINE 2
For information regarding depreciation deductions for “qualified
In column A enter the amount of taxable income you reported on line 16 of
property,” “qualified New York Liberty Zone property,” “qualified
Schedule A, Form NYC-202, line 16 of Schedule A, Form NYC-202EIN or
New York Liberty Zone leasehold improvements” and "qualified
line 16 of Schedule A, Form NYC-204 as originally filed or previously ad-
Resurgence Zone property" placed in service after September 10, 2001,
justed. In column C enter your total taxable income, as recomputed. To re-
see Finance Memorandum 14-1, “Application of IRC §280F Limits to
compute your taxable income, start with the amount in line 1, column C
Sport Utility Vehicles” and Form NYC-399Z.
and make the adjustments required by Schedule A of Form NYC-202,
NYC-202EIN or NYC-204. Submit a schedule showing the adjustments.
For information regarding depreciation deductions for property placed
LINES 5 through 8
in service outside New York after 1984 and before 1994, see Finance
In column A enter the amount reported on the corresponding lines of
Memorandum 99-4 “Depreciation for Property Placed in Service Out-
Schedule A, Form NYC-202, NYC-202EIN or Form NYC-204 as origi-
side New York After 1984 and Before 1994”.
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