Form Et-500 - Generation-Skipping Transfer Tax Return For Distributions - 2012 Page 2
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2ET-500 (2012) (back)
(continued)
Instructions
Extensions of time to file
trade, business, or occupation in New York State, that was transferred
by the original transferor. New York property also includes all intangible
If you know that you cannot meet the filing deadline, request an
personal property transferred by the original transferor, if the transferor
extension of time to file by writing to the following address:
was a resident of New York State at the time of the transfer of the
NYS TAX DEPARTMENT
property to the trust.
ESTATE TAX PROCESSING
Line 3 – If an entry was made on line 2, enter the value (on the date of
W A HARRIMAN CAMPUS
distribution) of all property included in the generation‑skipping transfer
ALBANY NY 12227
from the trust to the skip person distributee, including the value of the
The time to file will be automatically extended six months if the letter is
New York property.
sent by April 15. Note: Filing a request for an extension of time to file
does not extend the time for payment of tax. See Payment of tax on the
Line 6 – Enter the amount of any estimated payments.
front page.
Paid preparer’s responsibilities
Where to file
Under the law, all paid preparers must sign and complete the paid
Mail this form and payment to:
preparer section of the return. Paid preparers may be subject to civil
and/or criminal sanctions if they fail to complete this section in full.
NYS GENERATION-SKIPPING TRANSFER TAX
PROCESSING CENTER
When completing this section, you must enter your New York tax
PO BOX 15167
preparer registration identification number (NYTPRIN) if you are
ALBANY NY 12212-5167
required to have one. Also, you must enter your federal preparer tax
identification number (PTIN) if you have one; if not, you must enter your
Private delivery services
social security number.
If you choose, you may use a private delivery service, instead of the
U.S. Postal Service, to mail in your form and tax payment. However,
Privacy notification
if, at a later date, you need to establish the date you filed or paid your
The Commissioner of Taxation and Finance may collect and maintain
tax, you cannot use the date recorded by a private delivery service
personal information pursuant to the New York State Tax Law, including
unless you used a delivery service that has been designated by
but not limited to, sections 5‑a, 171, 171‑a, 287, 308, 429, 475, 505,
the U.S. Secretary of the Treasury or the Commissioner of Taxation
697, 1096, 1142, and 1415 of that Law; and may require disclosure of
and Finance. (Currently designated delivery services are listed in
social security numbers pursuant to 42 USC 405(c)(2)(C)(i).
Publication 55, Designated Private Delivery Services. See Need
help? below for information on obtaining forms and publications.)
This information will be used to determine and administer tax liabilities
If you have used a designated private delivery service and need to
and, when authorized by law, for certain tax offset and exchange of tax
establish the date you filed your form, contact that private delivery
information programs as well as for any other lawful purpose.
service for instructions on how to obtain written proof of the date your
form was given to the delivery service for delivery. If you use any
Information concerning quarterly wages paid to employees is provided
private delivery service, whether it is a designated service or not, send
to certain state agencies for purposes of fraud prevention, support
the forms covered by these instructions to: State Processing Center,
enforcement, evaluation of the effectiveness of certain employment and
431C Broadway, Albany NY 12204‑4836.
training programs and other purposes authorized by law.
Failure to provide the required information may subject you to civil or
Specific instructions
criminal penalties, or both, under the Tax Law.
You must submit a completed federal Form 706‑GS(D), including all
This information is maintained by the Manager of Document
schedules and documents, with your Form ET‑500.
Management, NYS Tax Department, W A Harriman Campus, Albany NY
12227; telephone (518) 457‑5181.
When calculating the inclusion ratio, it is necessary to do a separate
calculation for the New York State GST tax because it does not conform
to the federal GST exemption amounts for transfers made to a trust
Need help?
after 2003. The trustee must supply the distributee with the calculation
of the inclusion ratio that was used to determine the taxable amount for
Visit our Web site at
each distribution from the trust to the skip person distributee.
• get information and manage your taxes online
For 2012 distributions, in place of the federal exemption amount, use
• check for new online services and features
$1,390,000 as the New York State numerator limit when recalculating
the inclusion ratio.
Telephone assistance
The distributee must attach a schedule showing how the taxable
(518) 457‑5387
Estate Tax Information Center:
amount for New York State was computed.
To order forms and publications:
(518) 457‑5431
Name of the skip person distributee
Text Telephone (TTY) Hotline (for persons with
• Individual: Enter last name, first name, middle initial, and SSN.
hearing and speech disabilities using a TTY): (518) 485‑5082
• Trust: Enter the name of the trust and EIN.
Persons with disabilities: In compliance with the
Line 1 – In the first box, enter the total of the taxable amounts of
Americans with Disabilities Act, we will ensure that our
the taxable distributions from the trust to the skip person distributee
lobbies, offices, meeting rooms, and other facilities are
that occurred at the same time as, and as a result of, the death of an
accessible to persons with disabilities. If you have questions about
individual. Multiply this amount by the factor of .0275 and enter the
special accommodations for persons with disabilities, call the
result in the second box. If the taxable distribution from the trust is
information center.
wholly from New York property (see definition below), skip lines 2, 3,
and 4 and enter the amount from line 1 on line 5.
Line 2 – If the taxable distribution from the trust included non‑New York
property, enter the value (on the date of distribution) of the New York
property included in the distribution.
The term New York property includes real property and tangible
personal property having a physical location in New York State and
intangible personal property within the state employed in carrying on a
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