Instructions For Form Nyc-202 - Unincorporated Business Tax Return

Instructions for Form NYC-202 2006

Page 12

deposit as either business or investment capi-

CUSTOMER ASSISTANCE

tal. If you wish to elect to treat cash as invest-

For interest calculations and account infor-

ment capital, you must include it on this line.

mation, contact Customer Assistance,

Otherwise, you will be deemed to have elected

Monday through Friday, 8:30am to 5:30

to treat cash as business capital. You may not

pm.

elect to treat part of such cash as business cap-

ital and part as investment capital. You may

Call: (212) 504-4036

not revoke your election after it has been

made.

You can speak to a Customer Assistance

Representative between the hours of 9:00

SCHEDULE E

am and 4:30 pm.

Net Operating Loss Deduction

You can also visit our Internet website at

The net operating loss deduction allowable on

nyc.gov/finance

Form NYC-202 is computed in the same manner

for unincorporated business tax purposes as it

PRIVACY ACT NOTIFICATION

would be for federal income tax purposes, but

The Federal Privacy Act of 1974, as amended,

taking into account only unincorporated business

requires agencies requesting Social Security

gross income and unincorporated business

Numbers to inform individuals from whom

deductions allocated to New York City of the

they seek this information as to whether com-

unincorporated business.

pliance with the request is voluntary or manda-

If the unincorporated business was carried on

tory, why the request is being made and how

both inside and outside New York City during

the information will be used. The disclosure of

the year in which the net operating loss was

Social Security Numbers for taxpayers is

sustained, the allowable 2006 net operating

mandatory and is required by section 11-102.1

loss deduction is to be determined by reference

of the Administrative Code of the City of New

to the allocation basis or method used in the

York. Such numbers disclosed on any report or

year the loss was sustained, regardless of

return are requested for tax administration pur-

whether the unincorporated business was car-

poses and will be used to facilitate the process-

ried on both inside and outside New York City

ing of tax returns and to establish and maintain

during 2006. The amount of loss allocated to

a uniform system for identifying taxpayers

New York City for the loss year is the amount

who are or may be subject to taxes adminis-

to be entered on line 1 of Schedule E.

tered and collected by the Department of

Finance, and, as may be required by law, or

LINE 7

when the taxpayer gives written authorization

If the amount on Schedule A, line 10 is a loss,

to the Department of Finance for another

enter "0." If you are submitting a Schedule E

department, person, agency or entity to have

for more than one loss year, enter on line 7 of

access (limited or otherwise) to the informa-

Schedule E for the earliest loss year the

tion contained in his or her return.

amount from Schedule A, line 10. On the

Schedule E for any subsequent loss year, enter

on line 7 the amount from Schedule A, line 10,

reduced by the sum of the amounts entered on

Schedules E, line 8, for any earlier loss years.

SCHEDULE F

Additional Required Information

All questions in this schedule (Questions 1

through 8) must be answered.

COMPOSITION OF

PREPAYMENTS SCHEDULE

Enter the payment date and the amount of all

prepayments made for this tax period. In the

last column enter the Transaction ID Number.

Every estimated tax payment to New York

City has been stamped with a 12 digit

Transaction ID Number on the face of your

cancelled check.

Enter on line G the sum of the amounts on

lines A through F and the amount from Form

NYC-114.9, line 14.

Instructions For Form Nyc-202 - Unincorporated Business Tax Return - 2006 Page 12

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