Form Nyc-114.6 - Claim For Credit Applied To Unincorporated Business Tax

Form NYC-114.6 - 2011

Page 4

SCHEDULE C

Industrial Business Zone Credit (Administrative Code Section 11-503(n))

Location(s) of business operations continuously during the 24 months immediately preceding relocation

PROPERTY LOCATION

Street Address

City & State

Zip Code

Date of relocation ___________________________

Address of business operations in the Industrial Business Zone

PROPERTY LOCATION

Street Address

City & State

Zip Code

Description of Business: _________________________________________________________________________________

Number of employees working at least 35 hours per week________________X $1,000 = ..........................................................5. _____________________

Number of employees working at least 15 hours but less than 35 hours per week _________X 1/2 = ________X $1,000 (see instr.) .6. _____________________

Total of lines 5 and 6 .........................................................................................................................................................................7. _____________________

Relocation costs incurred by the taxpayer (see instructions):

a. cost of moving furniture, files, papers and office equipment .......................................................................................................8a. _____________________

b. cost of moving and installing machinery and equipment.............................................................................................................8b. _____________________

c. cost of installing telephones and other communication equipment required as a result of relocation ........................................8c. _____________________

d. Cost of floor preparation ..............................................................................................................................................................8d. _____________________

e. Other (description and cost --attach rider if needed):

_________________________________________________________________________________________________ 8e._____________________

Total (lines 8a-8e) ..............................................................................................................................................................................9. _____________________

10. Lesser of line 7 and 9 or $100,000. Enter on page 1, parts I and II lines 2 and 5........................................................................10. _____________________

INSTRUCTIONS FOR SCHEDULE C

For taxable years beginning on or after January 1, 2006, an eligible business that first

an eligible business, including at least one location at which such business conducts sub-

enters into a binding contract on or after July 1, 2005 to purchase or lease eligible prem-

stantial business operations and engages primarily in industrial and manufacturing activ-

ities. For purposes of determining the “date of relocation”, enter the earlier of (1) the

ises to which it relocates is allowed the industrial business zone tax (“IBZ”) credit, a one-

time credit to be credited against its UBT liability or refunded without interest to the

date of the completion of the relocation to the eligible premises, or (2) ninety days from

extent it exceeds the taxpayer’s UBT liability calculated without that credit. The amount

the commencement of the relocation to the eligible premises.

of the credit is $1,000 per full-time employee, provided that the amount of the credit may

Lines 5 and 6

not exceed the lesser of the actual relocation costs or $100,000. See Ad. Code § 11-

The amount of the credit is calculated based on the number of “full-time employees.”

503(n), as added by Chapter 635 of the Laws of 2005.

“Full-time employee” means (1) one person gainfully employed in an eligible premis-

For purposes of this credit, the following definitions apply:

es by an eligible business where the number of hours required to be worked by such per-

son is not less than 35 hours per week; or (2) two persons gainfully employed in an eli-

1. “eligible business” means any business subject to UBT that (1) has been conducting sub-

gible premises by an eligible business where the number of hours required to be worked

stantial business operations and engaging primarily in industrial and manufacturing activ-

by each such person is more than fifteen hours per week but less than 35 hours per week.

ities at one or more locations within the City or outside New York State continuously dur-

The number of full-time employees for purpose of completing lines 5 and 6 is the aver-

ing the 24 consecutive full months immediately preceding relocation, (2) has leased the

age number of full-time employees, calculated on a weekly basis, employed in the eligi-

premises from which it relocates continuously during the 24 consecutive full months

ble premises by the eligible business in the fifty-two week period immediately follow-

immediately preceding relocation, (3) first enters into a binding contract on or after July 1,

ing the earlier of (1) the date of the completion of the relocation to eligible premises or

2005 to purchase or lease eligible premises to which the business will relocate, (4) will be

(2) ninety days from the commencement of the relocation to the eligible premises. This

engaged primarily in industrial and manufacturing activities at the eligible premises, and

credit must be taken in the taxable year in which such fifty-two week period ends.

(5) does not receive benefits under the REAP or Lower Manhattan REAP Program or

through a grant program administered by the Business Relocation Assistance Corporation

Line 5

or through the New York City Printers Relocation Fund grant.

Enter the average number of employees working not less than 35 hours per week.

2. “eligible premises” means premises located entirely within an industrial business

Line 6

zone. For any eligible business, an industrial business zone credit will not be grant-

Enter the average number of employees working more than 15 hours but less than 35

ed with respect to more than one eligible premises.

hours per week. If after multiplying by 1/2, the number is not a whole number, round

3. “industrial business zone” means an area within New York City established pur-

down to the whole number.

suant to section 22-626 of the Administrative Code.

Line 8

4. “industrial and manufacturing activities” means activities involving the assembly of goods to

“Relocation costs” means costs incurred in the relocation of the furniture, fixtures, equip-

create a different article, or the processing, fabrication , or packaging of goods. Industrial and

ment, machinery and supplies, including, but not limited to, the cost of dismantling and

manufacturing activities shall not include waste management or utility services.

reassembling equipment and the cost of floor preparation necessary for the reassembly of

the equipment. Relocation costs include only such costs that are incurred during the nine-

SPECIFIC LINE INSTRUCTIONS:

ty-day period immediately following the commencement of the relocation to an eligible

Line 2: “relocation” means the physical relocation of furniture, fixtures, equipment,

premises. Relocation costs do not include costs for structural or capital improvements or

machinery and supplies directly to an eligible premises, from one or more locations of

items purchased in connection with the relocation.

PRIVACY ACT NOTIFICATION - The Federal Privacy Act of 1974, as amended, requires agencies requesting Social Security Numbers to inform individuals from whom they seek this information as to whether

compliance with the request is voluntary or mandatory, why the request is being made and how the information will be used. The disclosure of Social Security Numbers for taxpayers is mandatory and is required

by section 11-102.1 of the Administrative Code of the City of New York. Such numbers disclosed on any report or return are requested for tax administration purposes and will be used to facilitate the processing of

tax returns and to establish and maintain a uniform system for identifying taxpayers who are or may be subject to taxes administered and collected by the Department of Finance, and, as may be required by law, or

when the taxpayer gives written authorization to the Department of Finance for another department, person, agency or entity to have access (limited or otherwise) to the information contained in his or her return.

Form Nyc-114.6 - Claim For Credit Applied To Unincorporated Business Tax - 2011 Page 4

Related Articles

Related forms

Related Categories