Form Et-500 - Generation-Skipping Transfer Tax Return For Distributions
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4ET-500
New York State Department of Taxation and Finance
Generation-Skipping Transfer
(3/14)
For office use only
Tax Return for Distributions
For distributions made after December 31, 2010, and on or before March 31, 2014
Calendar year
Name of skip person distributee ( see instructions )
SSN of individual distributee
Name and title of person filing return ( if different from above )
EIN of trust distributee
Address of distributee or person filing return ( number and street or post office box )
City
State
ZIP code
Did the distribution occur at the same time as, and as a result of, the death of an individual? ............................................... Yes
No
If No, Stop; you are not required to file this form.
Schedule A – Computation of tentative transfer amount and maximum credit
Part 1 – Computation of tentative transfer amount
A
B
C
D
E
F
G
Description of property
Date
NYS GST tax
Fair market
NYS inclusion ratio
Value of
Tentative
(1 - C/D);
subject to distribution
property
exemption
value of property
distribution
transfer amount
(see instructions)
(round to 3 decimal
(E × F)
was
allocated to trust
at time of transfer
from federal
(see instructions)
places)
transferred
to trust
Form 706-GS(D-1),
to trust
Part II, column e
(total of column G)
Total tentative transfer amount
..........................................................................................................................
Part 2 – Computation of maximum state generation-skipping transfer tax credit
(from Part 1, column G)
A Total tentative transfer amount
.........................
(see instructions)
B Adjusted allowable expenses
....................................
(subtract line B from line A)
C Taxable amount
...........................................
D NYS generation-skipping transfer tax rate ..........................................
.
0
0275
(multiply line C by line D; enter here and
E Maximum state GST tax credit
on Schedule B, line 1)
..........................................................................
Schedule B – Computation of tax due
1 Maximum state generation-skipping transfer tax credit allowable
( from Schedule A, Part 2, line E )
...............
1.
( if the taxable distribution included
Proration of the credit for state generation-skipping transfer tax
non-New York property, complete lines 2, 3, and 4; otherwise enter the amount from line 1 on line 5 )
2 Gross value of New York property included in the taxable distribution
for federal generation-skipping transfer tax purposes
( see instr. )
..
2.
3 Gross value of all property in the taxable distribution for federal
generation-skipping transfer tax purposes
( see instructions )
..........
3.
( round the result to the fourth decimal place )
4 Divide line 2 by line 3
.............................................................
4.
5 New York State generation-skipping transfer tax
( multiply line 1 by line 4; if no entries are made on lines 2, 3,
and 4, enter the amount from line 1 )
..............................................................................................................
5.
( see instructions )
6 Estimated payment
...........................................................................................................
6.
7 If line 6 is less than line 5, subtract line 6 from line 5. This is the amount you owe ..................................
7.
8 If line 6 is greater than line 5, subtract line 5 from line 6. This is the amount to be refunded to you ........
8.
Attach a copy of your federal generation-skipping transfer tax return, Form 706-GS(D), along with all supporting schedules and documents.
Signature of taxpayer or person filing on behalf of taxpayer
Date
E-mail address of taxpayer or person filing on behalf of taxpayer
Print name of preparer other than taxpayer
Signature of preparer other than taxpayer
Date
E-mail address of preparer
Address of preparer
City
State ZIP code
Preparer’s PTIN or SSN
Preparer’s NYTPRIN
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