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Instructions

ST-340 (3/11) (back)

General information

Line instructions

Line 1 — Project purpose — Mark an X in the box that identifies the

Who must file?

purpose of the project. If you mark Other, please be specific in identifying

The General Municipal Law (GML) and the Public Authorities Law require

its purpose.

the agent/project operator (also known as the project occupant) of an

Line 2 — Enter the date the project started (this means the earliest of the

Industrial Development Agency or Authority (IDA) to file an annual report

date of any bond or inducement resolution, the execution of any lease, or

with the Tax Department. The agent/project operator required to file

any bond issuance). Include month, day, and year.

this report is the person directly appointed by the IDA to act for and to

represent the IDA for the project. The agent/project operator is ordinarily

Line 3 — Enter the date you, or your general contractor or subcontractor,

the one for whom the IDA project was created.

actually began, or expect to begin, construction or installation on the

project. Mark an X in the appropriate box to indicate if the date entered is

There is usually only one agent/project operator directly appointed by

actual or expected. If the project does not involve any construction, enter

the IDA for an IDA project. However, if the IDA directly appoints multiple

Does not apply.

agents/project operators, each agent/project operator must file this form

(unless they are related corporations).

Line 4 — Enter the date the construction phase of the project was

completed or is expected to be completed. Mark an X in the appropriate

Only the agent/project operator(s) directly appointed by the IDA must

box to indicate if the date entered is actual or expected.

file Form ST-340. Contractors, subcontractors, consultants, or agents

appointed by the agent/project operator(s) should not themselves file

Line 5 — Enter the date installation, lease, or rental of property (for

Form ST-340. However, the agent/project operator(s) must include on

example, machinery or computers) on the project ended or the date the

Form ST-340 information obtained from such contractors, subcontractors,

project is expected to be completed. Mark an X in the appropriate box to

consultants, and agents, as described below.

indicate if the date entered is actual or expected.

What must be reported?

Line 6 — Enter the total number of years and months from the project’s

inception to its completion or expected completion.

The report must show the total value of all state and local sales and

use taxes exempted during the calendar year, as a result of the project’s

Line 7 — Enter the total amount of New York State and local sales and

designation as an IDA project. This includes:

use taxes exempted during the reporting period (if none, enter 0) as a

result of the project’s receipt of IDA financial assistance. This includes

— the value of the exemptions obtained by the agent/project operator; and

exemptions obtained at the time of purchase as well as through a refund or

— the value of the exemptions obtained by your contractors,

credit of tax paid. Include the sales and use taxes exempted on purchases

subcontractors, consultants, and others, whether or not appointed as

of property or services incorporated into or used on the exempt project.

agents of the IDA.

This includes the taxes exempted on purchases made by or on behalf of

the agent/project operator, the general contractor for the project, and any

The report requires only the total combined exemptions obtained by the

subcontractors, consultants, or others. Do not enter total purchases on

above people. A break down of the total is not required. However, since

line 7.

the report must include the value of the exemptions they obtained, the

agent/project operator must keep records of the amounts others report to

Signature area

the agent/project operator.

Enter the name and title of the person signing on behalf of the IDA

It is important that the agent/project operator make it clear to the

agent/project operator (for example, the IDA agent/project operator’s

contractors, subcontractors, consultants, and others that they must keep

officer, employee, or other authorized representative). The IDA

accurate tax information and have it available so that the agent/project

agent/project operator’s officer, employee, or authorized representative

operator can comply with the annual reporting requirements.

must sign the report. Enter the date signed.

Do not include in this report the amount of any sales and use tax

Mail completed report to: NYS Tax Department, IDA Unit, W A Harriman

exemptions arising out of other provisions of the Tax Law (for example,

Campus, Albany NY 12227.

manufacturer’s production equipment exemption, research and

development exemption, or contractor’s exemption for tangible personal

property incorporated into a project of an exempt organization).

Need help?

See instructions below for additional information required.

Internet access:

When is the report due?

(for information, forms, and publications)

You must file Form ST-340 on a calendar-year basis. It is due by the last

day of February of the following year. The reporting requirement applies to

IDA projects started on or after July 21, 1993.

Sales Tax Information Center:

(518) 485-2889

To order forms and publications:

(518) 457-5431

Project information

At the top of the form, identify the reporting period by entering the year in

Text Telephone (TTY) Hotline

the space provided. If an address is required, always include the ZIP code.

(for persons with hearing and

speech disabilities using a TTY):

(518) 485-5082

Name of IDA agent/project operator

Enter the name, address, federal employer identification number (FEIN),

and telephone number of the IDA agent/project operator.

Privacy notification

The Commissioner of Taxation and Finance may collect and maintain personal information

Name of IDA agent/project operator’s authorized

pursuant to the New York State Tax Law, including but not limited to, sections 5-a, 171, 171-a,

287, 308, 429, 475, 505, 697, 1096, 1142, and 1415 of that Law; and may require disclosure of

representative

social security numbers pursuant to 42 USC 405(c)(2)(C)(i).

Enter the name, address, title (for example, attorney or accountant), and

This information will be used to determine and administer tax liabilities and, when authorized by

telephone number of the individual authorized by the IDA agent/project

law, for certain tax offset and exchange of tax information programs as well as for any other lawful

purpose.

operator to submit this report.

Information concerning quarterly wages paid to employees is provided to certain state agencies

for purposes of fraud prevention, support enforcement, evaluation of the effectiveness of certain

Name of IDA

employment and training programs and other purposes authorized by law.

Enter the name and address of the IDA. If more than one IDA is involved

Failure to provide the required information may subject you to civil or criminal penalties, or both,

under the Tax Law.

in a particular project, the IDA agent/project operator must file a separate

report for the tax exemptions attributable to each IDA.

This information is maintained by the Manager of Document Management, NYS Tax Department,

W A Harriman Campus, Albany NY 12227; telephone (518) 457-5181.

Name of project

Enter the name of the project and the address of the project site. If the IDA

agent is involved in more than one project, a separate report must be filed

by the IDA agent/project operator for each project, even if authorized by

the same IDA.

Form St-340 - Annual Report Of Sales And Use Tax Exemptions Claimed By Agent/project Operator Of Industrial Development Agency/authority (Ida) Page 2

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