Instructions For Form Nyc-202 - Unincorporated Business Tax Return

Instructions for Form NYC-202 2006

Page 6

LINE 21 - UNINCORPORATED

LINE 27b - LATE PAYMENT OR LATE

Taxpayers carrying on two or more unincorpo-

BUSINESS TAX

FILING/ADDITIONAL CHARGES

rated businesses, either wholly or partly in

Enter on line 21 the unincorporated business

A late filing penalty is assessed if you

New York City, must enter the combined net

tax due. If the credit on line 20 equals the tax

fail to file this form when due, unless the

income from all business activities relating to

shown on line 19, enter “0” on line 21.

failure is due to reasonable cause. For

such businesses.

every month or partial month that this

If business is carried on both inside and outside

LINE 22a - OTHER CREDITS

form is late, add to the tax (less any pay-

New York City and the taxpayer is electing to

Enter on line 22a credits against the unincor-

ments made on or before the due date)

allocate business income according to the books

porated business tax for:

5%, up to a total of 25%.

and records of the business, report in Schedule

If this form is filed more than 60 days late,

relocation and employment assistance

B, part 1, the New York City income and deduc-

the above late filing penalty cannot be less

program (REAP) credit (Refer to instruc-

tions only. Apply the New York City modifica-

than the lesser of (1) $100 or (2) 100% of

tions on Form NYC-114.5 and attach

tions described in part 2 that relate to the New

the amount required to be shown on the

form.)

York City items reported. (Refer to instructions

form (less any payments made by the due

for Schedule C.)

sales and compensating use taxes (Refer

date or credits claimed on the return).

to instructions on Form NYC-114.5 and

If the taxpayer is using an alternative method of

A late payment penalty is assessed if you

attach form for an appropriate year.)

allocation and a percentage formula is used

fail to pay the tax shown on this form by

NOTE: The sales and use tax credits may

other than the statutory formula, enter the

the prescribed filing date, unless the fail-

only be taken for sales or use tax paid in

amounts from the federal tax return on lines 1

ure is due to reasonable cause. For every

the current year on certain purchases in

through 6 of this schedule. If a direct allocation

month or partial month that your payment

prior years.

See instructions for

method is used, report in Schedule B, part 1, the

is late, add to the tax (less any payments

Schedule B, line 10a.

New York City income and deductions only.

made) 1/2%, up to a total of 25%.

Apply the New York City modifications

The total of the additional charges in a)

LINE 22b - REAL ESTATE TAX ESCA-

described in part 2 that relate to the New York

and c) may not exceed 5% for any one

LATION CREDIT AND EMPLOYMENT

City items reported.

month except as provided for in b.

OPPORTUNITY RELOCATION COSTS

(Refer to the instructions for Schedule C,

CREDIT AND INDUSTRIAL BUSINESS

If you claim not to be liable for these additional

Business Allocation, for further details.)

ZONE CREDIT

charges, attach a statement to your return explain-

(Refer to instructions on Form NYC-114.6,

ing the delay in filing, payment or both.

LINE 1 - NET PROFIT (OR LOSS)

Claim for Credit Applied to Unincorporated

FROM BUSINESS, FARMING OR PRO-

Business Tax and attach form.)

LINES 29 and 30 - NET OVERPAYMENT

FESSIONS

If there is an overpayment on line 29, enter on line

Enter here the amount reported for federal tax

LINE 22c - LOWER MANHATTAN

30a the amount of overpayment to be refunded.

purposes. This amount should be the amount

RELOCATION AND EMPLOYMENT

Enter on line 30b the amount to be credited to the

reported on federal Schedule C or C-EZ, Form

ASSISTANCE PROGRAM (LMREAP)

2007 estimated tax on Form NYC-5UBTI. If line

1040. (If you operate a farm, enter the profit

CREDIT

23 is less than zero, disregard negative sign and

or loss reported on federal Schedule F, Form

Refer to instructions on Form NYC-114.8 and

add that amount to line 24.

1040.) Attach a copy of federal Schedule C,

attach form.

C-EZ or F. If this is a final return, attach a

LINE 31 - TOTAL REMITTANCE DUE

copy of your entire federal Form 1040 and

LINE 22d - MADE IN NYC FILM PRO-

If the amount on line 29 is not greater than

check the box on the first page of this return.

DUCTION CREDIT

zero, enter on line 31 the sum of the amount on

Refer to instructions on Form NYC-114.9 and

If allocation is based upon books and records,

line 25 and the amount, if any, by which line

attach form.

report the net profit (or loss) from New York

28 exceeds line 26. After completing this

City operations of the business.

return, enter the amount of your remittance on

LINE 24 - PAYMENT OF

line A. This must be the full amount as shown

LINE 2 - MULTIPLE

ESTIMATED TAX

on line 31. All remittances must be payable in

SCHEDULES C AND F

Enter on line 24 the sum of all payments of

U.S. dollars drawn on a U.S. bank. Checks

If entering income from more than one federal

estimated tax made for calendar year 2006 or

drawn on foreign banks will be rejected and

Schedules C, C-EZ or F, check the box and

fiscal year beginning in 2006 including carry-

returned. Remittances must be payable to:

enter number of Schedules C, C-EZ or F

over credit from the preceding taxable year,

NYC Department of Finance.

attached.

and payment with extension, NYC-62.

LINE 33 - GROSS RECEIPTS OR SALES

Complete table on page 4 of this return.

LINE 3 - GAIN (OR LOSS) FROM

FROM FEDERAL RETURN

SALE OF REAL OR PERSONAL

Enter the amount from line 3 of Schedule C

LINE 27a - LATE PAYMENT/

BUSINESS PROPERTY

(Gross receipts or sales less returns and

INTEREST

Enter here the total gain or loss from the sale

allowances) or from line 1 of Schedule C-EZ

If the tax is not paid on or before the due date

or exchange of real or personal property car-

(Gross Receipts) of Federal form 1040.

(determined without regard to any extension

ried as business assets (including proceeds

of time), interest must be paid on the amount

from the sale of the business and its goodwill).

SCHEDULE B

of the underpayment from the due date to the

Attach federal Schedule D and/or Form 4797.

Computation of Total Income

date paid. For information as to the applicable

Note that federal depreciation and federal

rate of interest, call Customer Assistance at:

basis must be used in these computations.

PART 1 - ITEMS OF BUSINESS

(212) 504-4036.

(Refer to instructions for Schedule B, part 2,

INCOME, GAIN, LOSS OR DEDUCTION

line 19, relating to the subtraction from gain

Amounts on lines 1 through 6 are to be entered

reported on line 3 for certain property acquired

from the federal tax return.

Instructions For Form Nyc-202 - Unincorporated Business Tax Return - 2006 Page 6

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