Form Nyc 8b - Banking Corporation Tax Claim For Credit Or Refund

Form NYC-8B - 2008

Page 2

COLUMN 3 - CORRECT AMOUNT

GENERAL INFORMATION

Add the increase in column 2 to the amount in column 1 or subtract the column 2 de-

For information regarding depreciation deductions for property placed in service out-

crease from column 1. Enter the result in column 3. For any item not changed, enter the

amount from column 1 in column 3.

side New York after 1984 and before 1994, see Finance Memorandum 99-4 “Depreci-

ation for Property Placed in Service Outside New York After 1984 and Before 1994”.

LINE 15 - 25% FIRST INSTALLMENT

For information regarding depreciation deductions for "qualified property," "qualified

Enter in column 1 and column 3 the amount of the 25% first installment as reported on

New York Liberty Zone property," "qualified New York Liberty Zone leasehold im-

the original return.

provements" and “qualified Resurgence Zone property” placed in service after Sep-

LINE 19 - PRIOR PAYMENTS

tember 10, 2001. See Form NYC-399-Z.

Enter at line 19, columns 1 and 3, the sum of: a) all estimated tax payments made for

For tax years beginning on or after January 1, 2004, the City has decoupled from certain

the period covered by this return, including the 25% first installment; b) all amounts paid

provisions regarding the treatment of SUVs. See Administrative Code sections 11-

with any application for extension to file the original return; c) all overpayments from

641(b)(14), (r ) and (s). See also Finance Memorandum 08-2, “Application of IRC §280F

prior tax periods credited towards the tax for the period covered by this return; and d)

Limits to Sport Utility Vehicles” and Form NYC-399-Z.

all amounts paid with the original return or previously filed amended return.

PURPOSE OF FORM

LINES 20 AND 21 - PRIOR APPLICATION OF OVERPAYMENT

Use Form NYC-8B to claim a credit or refund of Banking Corporation Tax. PLEASE

Enter at line 20, columns 1 and 3, the amount of any overpayment shown on the origi-

NOTE THAT FORM NYC-8B CAN NO LONGER BE USED TO FILE AN

nal return or previous refund claim (for the same period) previously refunded to you.

AMENDED RETURN. IF YOU OWE ADDITIONAL TAX, FILE AN AMENDED

Enter at line 21, columns 1 and 3, the amount of any overpayment shown on the origi-

NYC-1 OR NYC-1A.

nal return or previous refund claim (for the same period) that you requested to be cred-

An amended New York City return using Form NYC-1 must be filed within 90 days

ited towards tax for a subsequent period.

after filing an amended federal or New York State return. An amended NYC return

LINE 23

using Form NYC-1A must be filed within 120 days after filing an amended Federal or

New York State return.

If the amount on line 22, column 3, exceeds the amount on line 18, column 3, enter the

excess on line 23. If the amount on line 22, column 3, does not exceed the amount on

If a change or correction of federal or New York State taxable income or other tax base

line 18, column 3, enter zero on line 23. If you owe additional tax, you must file an

is made by the Internal Revenue Service and/or the New York State Department of Tax-

amended return on the applicable Form NYC-1 or NYC-1A. (See “Purpose of Form”)

ation and Finance, report the change on Form NYC-3360B or 3360F (Report of Fed-

eral/State Change). Do not use Form NYC-8B.

SIGNATURE

This report must be signed by an officer authorized to certify that the statements con-

FILING REQUIREMENTS FOR REFUND OR CREDIT

tained herein are true. If the taxpayer is a publicly-traded partnership or another unin-

A separate Form NYC-8B must be filed for each tax period for which a credit or

corporated entity taxed as a corporation, this return must be signed by a person duly

refund is claimed.

authorized to act on behalf of the taxpayer.

This claim must be filed within three years from the time the return was filed or

Preparer Authorization: If you want to allow the Department of Finance to discuss

two years from the time the tax was paid, whichever expires later, or, if no return

your return with the paid preparer who signed it, you must check the "yes" box in the

was filed, within two years from the time the tax was paid. If the claim is filed

signature area of the return. This authorization applies only to the individual whose sig-

within the three-year period, the amount of the credit or refund cannot exceed the

nature appears in the "Preparer's Use Only" section of your return. It does not apply to

portion of the tax paid within the three years immediately preceding the filing of

the firm, if any, shown in that section. By checking the "Yes" box, you are authorizing

the claim plus the period of any extension of time for filing the return. If the claim

the Department of Finance to call the preparer to answer any questions that may arise

is not filed within the three-year period, but is filed within the two-year period, the

during the processing of your return. Also, you are authorizing the preparer to:

amount of credit or refund cannot exceed the portion of the tax paid during the

two years immediately preceding the filing of the claim.

G Give the Department any information missing from your return,

If the period for assessing the tax has been extended by agreement between the tax-

G Call the Department for information about the processing of your return or the status

payer and the Department of Finance, the claim for refund or credit must be made

of your refund or payment(s), and

within six months after the expiration of the period.

G Respond to certain notices that you have shared with the preparer about math er-

If a timely petition for the redetermination of a deficiency has been filed, no sep-

rors, offsets, and return preparation. The notices will not be sent to the preparer.

arate claim for credit or refund need be filed for that year.

You are not authorizing the preparer to receive any refund check, bind you to anything

A corporation disclaiming liability for tax must attach a completed Form NYC-

(including any additional tax liability), or otherwise represent you before the Department.

245, Activities Report of Corporations, or a copy of the letter of exemption issued

The authorization cannot be revoked, however, the authorization will automatically ex-

by the Department of Finance.

pire no later than the due date (without regard to any extensions) for filing next year's re-

turn. Failure to check the box will be deemed a denial of authority.

CLAIMS BASED ON CREDIT(S)

If this claim is based upon the energy cost savings credit or relocation and employment

CUSTOMER ASSISTANCE

assistance program (REAP) credit it must be accompanied by Form NYC-9.5 or Form

If you have a tax-related question or problem, contact Customer Assistance by calling

NYC-ECS together with appropriate documentation. Note: The ECS credit formerly al-

(212) 504-4036, Monday through Friday, between 9:00am and 4:30pm.

lowed by Admin. Code §11-643.5(c) has been repealed as of November 1, 2000.

Additional information is accessible online at nyc.gov/finance.

If this claim is based on the relocation and employment assistance program applicable

to Lower Manhattan (effective July 1, 2003) (LMREAP), it must be accompanied by

Make remittance payable to the order of:

Form NYC-9.8.

NYC DEPARTMENT OF FINANCE

If this claim is based on a UBT Paid Credit, file an amended Form NYC-1 or NYC-1A

Payment must be made in U.S.dollars, drawn on a U.S. bank.

and include Form NYC-9.7B.

To receive proper credit, you must enter your correct Employer

S P E C I F I C I N S T R U C T I O N S

Identification Number on your tax return and remittance.

COLUMN 1 - AMOUNT ORIGINALLY REPORTED

Enter the amounts from your New York City return as originally filed or as you later

amended it.

MAIL TO:

NYC DEPARTMENT OF FINANCE

COLUMN 2 - NET CHANGE

BANKING CORPORATION TAX

Enter the net increase or net decrease for each line you are changing. Use parentheses

P. O. BOX 5120

around all amounts that are decreases. (Attach a separate schedule explaining the in-

creases or decreases.) Submit a schedule of allocation percentages (if any) utilized in

KINGSTON, NY 12402-5120

making entries in column 2.

Form Nyc 8b - Banking Corporation Tax Claim For Credit Or Refund - 2008 Page 2

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