Instructions For Form Nyc-115 - Unincorporated Business Tax Report Of Change In Taxable Income - 2010
ADVERTISEMENT
1
2Form NYC-115 - 2010 - Instructions
G
I
Page 3
the processing of your return. Also, you are authorizing the preparer to:
E N E R A L
N F O R M AT I O N
Give the Department any information missing from your return,
G
(Pursuant to Title 11, Chapter 5 of the Administrative Code of the City of New York)
Call the Department for information about the processing of your re-
This form is to be used by unincorporated businesses for reporting adjust-
turn or the status of your refund or payment(s), and
G
ments in taxable income resulting from an Internal Revenue Service audit of
your federal income tax return, and/or New York State Department of Taxa-
Respond to certain notices that you have shared with the preparer
tion and Finance audit of your New York State income tax return and must
about math errors, offsets, and return preparation. The notices will
G
be filed within 90 days after a final determination or as required by the De-
not be sent to the preparer.
partment of Finance. It must be accompanied by the amount of additional tax
You are not authorizing the preparer to receive any refund check, bind
due. Explain federal or New York State adjustments in detail on Schedule A
you to anything (including any additional tax liability), or otherwise rep-
of this form and attach an exact copy of the entire report of federal and/or
resent you before the Department. The authorization cannot be revoked,
New York State findings. If you disagree with the results of a final determi-
however, the authorization will automatically expire no later than the due
nation in a federal or State audit, complete the form showing the amount from
date (without regard to any extensions) for filing next year's return. Fail-
column 1 in column 3, and attach a schedule showing the additional tax (or
ure to check the box will be deemed a denial of authority.
S
I
refund) due reporting the changes in accordance with the final determination
and attach a statement explaining why you believe the adjustments are erro-
neous. If no such statement is attached, the amount of the New York City tax
P E C I F I C
N S T R U C T I O N S
resulting from the federal or State determination reported on this form as due
will be deemed assessed on the date this form is filed. This form is to be filed
CALCULATION OF TAX
separately. Do not attach it to any tax return.
In Column A enter amounts from the latest New York City report or final
This form is required if the taxpayer executes a waiver of restrictions
New York City Department of Finance adjustment prior to the filing of
on assessments as provided in IRC section 6213(d) or NYS Tax Law
this return. If you filed an amended return or if the amounts shown on
section 681(f).
your original return were changed pursuant to a final Department of Fi-
nance adjustment, attach documentation reflecting the New York City
An amended New York City return must be filed within 90 days after
changes and a schedule showing your calculations.
filing an amended federal or New York State return.
If you originally filed Form NYC-202S or NYC-204EZ, enter in Column
NOTE:
A the amounts you would have reported if you had filed NYC-202 or
For years beginning on or after July 1, 1996, an unincorporated busi-
NYC-204, respectively.
ness without a regular place of business outside the city may allocate
LINE 1
its income within and without the city. For taxable years beginning
In column A enter the sum of the amount of the total business income you
after 1995, new rules apply to the allocation of income from broad-
reported on line 1, Schedule A, Form NYC-202 or Form NYC-204 as orig-
casting and publishing, and for taxable years beginning after June 30,
inally filed or previously adjusted and the amount of the total investment
1996, to income from sales of tangible personal property. Additionally,
income you reported on Schedule A, Form NYC-204 or Schedule A, Form
a manufacturing business may elect to calculate its allocation per-
NYC-202, as originally filed or previously adjusted.
centage using a four-factor formula by double-weighting the receipts
factor. See Administrative Code section 11-508 subd. (a), (c), (e-1) and
In column B enter the net reportable changes from line 11 of Schedule A
(g) and instructions to forms NYC-204 and 202.
on page 2 of this form.
For information regarding depreciation deductions for property
In column C add or subtract the amount in column B from column A.
placed in service outside New York after 1984 and before 1994, see Fi-
LINE 2
nance Memorandum 99-4 “Depreciation for Property Placed in Serv-
In column A enter the amount of taxable income you reported on line 16 of
ice Outside New York After 1984 and Before 1994”.
Schedule A, Form NYC-202 or line 16 of Schedule A, Form NYC-204 as orig-
inally filed or previously adjusted. In column C enter your total taxable in-
For information regarding depreciation deductions for “qualified prop-
come, as recomputed. To recompute your taxable income, start with the amount
erty,” “qualified New York Liberty Zone property,” “qualified New
in line 1, column C and make the adjustments required by Schedule A of Form
York Liberty Zone leasehold improvements” and "qualified Resurgence
NYC-202 or NYC-204. Submit a schedule showing the adjustments.
Zone property" placed in service after September 10, 2001, see Finance
Memorandum 10-01, “Application of IRC §280F Limits to Sport Util-
LINES 3 through 8
ity Vehicles” and Form NYC-399Z.
In column A enter the amount reported on the corresponding lines of
Schedule A, Form NYC-202 or Form NYC-204 as originally filed or pre-
Changes to the Unincorporated Business Tax in effect for tax years be-
viously adjusted. In column C recalculate those amounts and enter ap-
ginning on or after January 1, 2009, include: single factor allocation
propriate amounts. For line 6, compute the revised business tax credit by
using the receipts factor being phased in over a ten-year period; and an
completing Schedule B on page 2 of this form.
increase in the credit for tax liability to a full credit for liabilities up to
$3400 and a partial credit for liabilities up to $5400. See Finance Mem-
LINE 12 - INTEREST
orandum 09-2 “2009 Legislative Highlights” and instructions to forms
Interest on the additional tax due, entered in column D, line 10, is com-
NYC-204 and 202.
puted from the due date of the original tax return to the date paid. Leave
column D, line 12 blank if the amount of interest computed is less than $1.
Preparer Authorization: If you want to allow the Department of Finance
The applicable prescribed interest rate or rates are available from the in-
to discuss your return with the paid preparer who signed it, you must check
terest rate table set forth on the Department of Finance’s internet website at:
the "yes" box in the signature area of the return. This authorization applies
only to the individual whose signature appears in the "Preparer's Use Only"
section of your return. It does not apply to the firm, if any, shown in that
For the rate of interest on overpayments, for a rate of interest not shown on the web-
section. By checking the "Yes" box, you are authorizing the Department of
site and for interest calculations, call 311. If calling from outside of the five NYC
Finance to call the preparer to answer any questions that may arise during
boroughs, please call 212-NEW-YORK (212-639-9675).
ADVERTISEMENT
0 votes
Related Articles
Related forms
Form Nyc-115 - Unincorporated Business Tax Report Of Change In Taxable Income Made By Internal Revenue Service And/or New York State Department Of Taxation And Finance - 2002
Financial
Form Nyc-115 - Unincorporated Business Tax Report Of Change In Taxable Income Made By Internal Revenue Service And/or New York State Department Of Taxation And Finance - 2013
Financial
Form Nyc-115 - Unincorporated Business Tax Report Of Change In Taxable Income Made By Internal Revenue Service - 2015
Financial
Form Nyc-115 -unincorporated Business Tax Report Of Change In Taxable Income Made By Internal Revenue Service- 2007
Financial
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
Financial
Form Nyc-3360 - General Corporation Tax Report Of Change In Tax Base Made By Internal Revenue Service And/or New York State Department Oftaxation And Finance - 2010
Financial
Form Nyc-3360 - General Corporation Tax Report Of Change In Tax Base Made By Internal Revenue Service And/or New York State Department Of Taxation And Finance
Financial
Related Categories
Parent category: Financial