Form Y-206 - Yonkers Nonresident Fiduciary Earnings Tax Return - 2011 Page 2
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2Y-206 (2011) (back)
Instructions
(continued)
Allocation of net earnings from self-employment — If the
Line 1 Net earnings from self-employment — Net earnings
business that produces the earnings has no regular place
from self-employment is defined in the fiduciary income tax
of business out of Yonkers, allocate all net earnings from
return instructions, Form IT-205-I, under Yonkers nonresident
self-employment to Yonkers.
fiduciary earnings tax. Enter the net earnings for the tax year.
This is the amount reported on federal Form 1040, Schedule SE,
If the books and records fairly and equitably show net earnings
Self-Employment Tax, Section A, line 4, or Section B, line 4c,
from self-employment in Yonkers, figure the part to be allocated to
minus the deduction for wages or salaries paid or incurred for
Yonkers from these books and records.
the tax year that was disallowed according to Internal Revenue
Code (IRC) section 280C. See the preceding instructions if
If the Yonkers net earnings cannot be determined from the books
allocation is required. Attach a detailed statement showing the
and records, make the allocation by multiplying total net earnings
computation of the net earnings, including the gross income from
from self-employment by the average of the following three
the underlying trade or business and the deductions prescribed in
percentages:
IRC section 1402(a).
1. The property percentage is computed by dividing (a) the
Line 2 — Enter any amount included on line 1 that was paid or
average value of real and tangible personal property connected
permanently set aside for charitable purposes in accordance with
with net earnings from self-employment and located in Yonkers
IRC section 642(c).
by (b) the average value of all real and tangible personal property
connected with the net earnings from self-employment and located
Line 4 — Enter any amount included on line 1 that was distributed
both in and out of Yonkers. Include both owned and rented real
or distributable to Yonkers residents in accordance with IRC
property.
section 651 or 661.
The average value of property is determined by (1) adding its
Line 6 Gross wages and other employee compensation — The
adjusted basis at the beginning of the tax year to its adjusted basis
definitions of wages and other employee compensation are
at the end of the tax year and (2) dividing by two.
in the fiduciary income tax return instructions, Form IT-205-I,
under Yonkers nonresident fiduciary earnings tax. Enter on
2. The payroll percentage is computed by dividing (a) the total
line 6 the wages and other employee compensation earned during
wages, salaries, and other personal service compensation paid
the tax year. See the preceding instructions if allocation is required.
or incurred during the tax year to employees in connection with
the net earnings from self-employment derived from a trade or
Line 8 Allowable exclusion — The estate or trust is allowed
business carried on in Yonkers by (b) the total of all wages, and
an exclusion against the total wages and net earnings from
compensation paid or incurred during the tax year to employees
self-employment received during the tax year.
in connection with the net earnings from self-employment derived
from a trade or business carried on both in and out of Yonkers.
If a trust changed its residence to or from Yonkers during its tax
year or if an estate or trust had a tax period of less than one year,
3. The gross income percentage is computed by dividing (a) the
then that estate or trust has to prorate its allowable exclusion. To do
gross sales or charges for services performed by or through an
this, count any period of more than one-half month as a full month;
agency located in Yonkers by (b) the total of all gross sales or
do not count any period of one-half month or less. Then use the
charges for services performed in and out of Yonkers. Allocate to
Exclusion table below to find the amount of the estate’s or trust’s
Yonkers all sales negotiated or consummated, and charges for
allowable exclusion.
services performed by an employee, agent, agency, or independent
contractor chiefly situated at, connected by contract or otherwise
Exclusion table
with, or sent out from, offices or other agencies of the trade or
*
Total of wages and net earnings
(sum of lines 1 and 6)
business situated in Yonkers and from which the estate or trust is
deriving net earnings from self-employment.
Number of
over but not over
over but not over
over
but not over
months**
$ 0
$10,000
$10,000 $20,000
$20,000
$30,000
Special rule for real estate — Income and deductions from the
12
$3,000
$2,000
$1,000
rental of real property and gain and loss from the sale, exchange,
11
2,750
1,833
917
or other disposition of real property are not subject to allocation but
10
2,500
1,667
833
are considered entirely derived from or connected with the place
where the property is located.
9
2,250
1,500
750
8
2,000
1,333
667
Calculation of earnings tax
7
1,750
1,167
583
The estate or trust is not liable for Yonkers earnings tax on
6
1,500
1,000
500
nonresidents in an amount greater than it would be required to pay
5
1,250
833
417
if it were a Yonkers resident estate or trust subject to the Yonkers
4
1,000
667
333
income tax surcharge on resident estates or trusts. Use Form IT-205
and instructions to determine the tax liability as if a resident estate
3
750
500
250
or trust.
2
500
333
167
Example: If the estate or trust had losses that entered into the
1
250
167
83
computation of its taxable income computed as if a resident, or if
*
If the total of wages and net earnings exceeds $30,000 for the year,
it would qualify to claim the Yonkers claim of right tax credit when
there is no exclusion amount.
computing its tax as if a resident, then the Yonkers income tax
**
Number of months of Yonkers nonresidence or of short tax year
surcharge computed as a resident may be lower than the actual
Yonkers nonresident earnings tax computed. The fiduciary would
Line 10 Total nonresident earnings tax — Enter the tax on
therefore be allowed to pay the amount of tax computed as a
line 10 and on Form IT-205, line 27. Attach Form Y-206 to the back
Yonkers resident. If the amount of income tax surcharge computed
of Form IT-205.
as a Yonkers resident is less than the Yonkers nonresident earnings
tax, attach a separate schedule to Form Y-206 showing the
computation, and enter the computed Yonkers resident income tax
surcharge on line 10 of Form Y-206.
2062110094
Please file this original scannable attachment with the Tax Department.
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