Instructions For Form Nyc-115 - Unincorporated Business Tax Report Of Change In Taxable Income - 2010 Page 2
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2Form NYC-115 - 2010 - Instructions
Page 4
LINE 13 - ADDITIONAL CHARGES
modification increasing or decreasing that item for New York City tax pur-
a)
A late filing penalty is assessed if you fail to file this form when
poses pursuant to Section 11-506 of the Administrative Code of the City
due, unless the failure is due to reasonable cause. For every month
of New York, show the details and enter the New York City net change at
or partial month that this form is late, add to the tax (less any pay-
line 10. If a New York City business allocation percentage or investment
ments made on or before the due date) 5%, up to a total of 25%.
allocation percentage is utilized, submit allocation schedule.
b)
If this form is filed more than 60 days late, the above late filing
SCHEDULE B
penalty cannot be less than the lesser of (1) $100 or (2)100% of the
FOR YEARS PRIOR TO 1987:
amount required to be shown on the form (less any payments made
by the due date or credits claimed on the return).
1.
If the tax on page 1, line 5, Column C is $100 or less, your credit on
c)
A late payment penalty is assessed if you fail to pay the tax shown
line 6 is the entire amount of tax on page 1, line 5, Column C.
on this form by the prescribed filing date, unless the failure is due
2.
If the tax on page 1, line 5, Column C is $200 or over, no credit is
to reasonable cause. For every month or partial month that your
allowed. Enter “0” on page 1, line 6, Column C.
payment is late, add to the tax (less any payments made) 1/2%, up
3.
If the tax on page 1, line 5, Column C is over $100 but less than $200,
to a total of 25%.
your credit is $200 less the amount of tax on page 1, line 5, Column C.
d)
The total of the additional charges in a and c may not exceed 5% for
any one month, except as provided for in b.
FOR YEARS FOR 1987 THROUGH 1995
If you claim not to be liable for these additional charges, attach a statement
1.
If the tax on page 1, line 5, Column C is $600 or less, your credit on
to your return explaining the delay in filing, payment or both.
line 6 is the entire amount of tax on page 1, line 5, column C.
LINE 15 - CLAIM FOR REFUND
2.
If the tax on page 1, line 5, Column C is $800 or over, no credit is
Where the federal or New York State change in business income would
allowed. Enter "0" on page 1, line 6, column C.
result in a refund, Form NYC-115 may be used as a claim for refund, pro-
3.
If the tax on page 1, line 5, Column C is over $600 but less than $800,
vided it is accompanied by a complete copy of the federal and/or New
your credit is computed by the following formula:
York State Audit Report or Statement of Adjustment.
(
)
Effective for taxable years beginning on or after January 1, 1989, if this re-
tax on page 1, line 5, Column C X
$800 minus tax on page 1, line 5, Column C
= ___________
port is not filed within 90 days after the notice of the final federal (or New
$200
(your credit)
York State) determination, no interest shall be paid on the resulting refund.
If you have a tax-related question or problem, call 311. If calling from outside
of the five NYC boroughs, please call 212-NEW-YORK (212-639-9675).
SCHEDULE A
LINES 1 THROUGH 4
ACCESSING NYC TAX FORMS
By Computer - Download forms from the Finance website at:
A - Profit (or loss) from business or profession of a sole proprietor
nyc.gov/finance
This is the amount of federal gross income from federal Schedule C,
Form 1040, less deductions. Therefore, any federal or New York State
By Phone - call 311. If calling from outside of the five NYC boroughs,
adjustment affecting net profit (or loss) from a business or profession
please call 212-NEW-YORK (212-639-9675).
must be reported on this form, even though the business is not subject
to federal or state tax. For example, the disallowance of a deduction
MAIL THIS FORM TO THE APPROPRIATE ADDRESS:
increases net profit from a business or profession and the allowance of
an additional deduction not claimed on the original return decreases
RETURNS WITH REMITTANCES:
net profit from a business or profession.
NYC DEPARTMENT OF FINANCE
B - Partnership income
UNINCORPORATED BUSINESS TAX
Any federal or New York State adjustments made to items of income,
PO BOX 5040
gain, loss or deduction affecting partnership income from federal Form
KINGSTON, NY 12402-5040
1065 or 1065-B must be reported on this form.
RETURNS CLAIMING REFUNDS:
C - Investment income
NYC DEPT. OF FINANCE
Any Federal or New York State adjustments made to items of invest-
UNINCORPORATED BUSINESS TAX
ment income or loss of the unincorporated business also should be re-
PO BOX 5050
KINGSTON, NY 12402-5050
ported here.
LINE 5 - NET ADJUSTMENTS
PRIVACY ACT NOTIFICATION
The amount entered on line 5 (column F) should be the net adjustments
The Federal Privacy Act of 1974, as amended, requires agencies requesting So-
made by a federal or New York State audit before taking into considera-
cial Security Numbers to inform individuals from whom they seek this informa-
tion any New York City changes applicable thereto. Note that a recompu-
tion whether compliance with the request is voluntary or mandatory, why the
tation or revision of your federal or New York State return increasing net
request is being made, and how the information will be used. The disclosure of
profit (or loss) from a business or profession or partnership income re-
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 dis-
ported thereon, which results in a reduction of an overpayment or refund
closed on any report or return are requested for tax administration purposes and
claimed, must be reported on this form even though you receive a refund
will be used to facilitate the processing of tax returns and to establish and main-
or overpayment credit following the audit or pre-audit of your federal or
tain a uniform system for identifying taxpayers who are or may be subject to
New York State return.
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 Depart-
LINES 6 THROUGH 11 - NEW YORK CITY CHANGES
ment of Finance for another department, person, agency or entity to have access
If any federal or New York State item reported in column F is subject to a
(limited or otherwise) to the information contained in his or her return.
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