Form Nyc-114.6 - Claim For Credit Applied To Unincorporated Business Tax

form nyc-114.6 - 2017

Page 3

schEdulE B

Employment opportunity relocation costs credit (Administrative code section 11-503(f))

If the taxpayer did not both relocate from outside New York State and create a minimum of ten (10) industrial or commercial employment opportunities in

New York City, do not complete Schedule B and make no entry on page 1, parts I and II, lines 2 and 5 respectively.

1. Number of industrial employment opportunities

___________________ x $500.00

relocated to New York City

Number

2. Number of commercial employment opportunities

___________________

x $300.00

relocated to New York City

Number

........................................................................................................................................

ToTAl

4. Employment opportunity relocation costs incurred by the taxpayer in the relocation of the taxpayer

from outside the State of New York into the City of New York (Section 11-503 (f)(1)(B))

a. Cost of moving furniture, files, papers and office equipment ......................................................... 4a.

b. Cost of moving and installing machinery and equipment ............................................................... 4b.

c. Cost of installing telephones and other communication equipment required

as a result of relocation .................................................................................................................. 4c.

d. Cost incurred in purchasing office furniture and fixtures required as a result of relocation

4d.

e. Cost of renovating the premises to be occupied as a result of the relocation, allowable

only to the extent that it does not exceed seventy-five cents (75¢) per square foot ..................... 4e.

(lines 4a through 4e)................................................................................................................ 5.

ToTAl

6. Enter line 3 or line 5, whichever is less. Enter on page 1, parts I and II, lines 2 and 5 ...................... 6.

InsTRucTIons foR schEdulE B

Effective August 30, 2005, taxpayers relocating to premises within an

the costs incurred by the taxpayer in moving and installing

Industrial Business Zone established pursuant to section 22-626 of the

machinery and equipment into the City from a location outside the

Administrative Code for which a binding contract to purchase or lease

State;

was entered into by the taxpayer after June 30, 2005 MAY NOT take the

relocation credit provided on this schedule for industrial employment

the costs of installing telephones and other communication equip-

opportunities but are entitled to a new one time credit for tax years

ment required as a result of the relocation to the City from a loca-

beginning after December 30, 2005. See Administrative Code §§11-503(f)

tion outside the State;

and 11-503(n) as added by Chapter 635 of the Laws of 2005 and Schedule

C below.

the cost incurred in the purchase of office furniture and fixtures

required as a result of the relocation to the City from a location out-

Taxpayers subject to the Unincorporated Business Tax are allowed a credit

side the State; and

against the tax for certain costs incurred in relocating commercial or industri-

al employment opportunities to New York City from an area outside the State

the cost of renovation of the premises to be occupied as a result of

of New York. To the extent this credit exceeds the taxpayer’s UBT liability

the relocation, provided, however, that such renovation costs shall

calculated without this credit, it shall be refunded without interest. In order to

be allowable only to the extent that they do not exceed seventy-

be eligible for this credit, a taxpayer must relocate to the City a minimum of

five cents per square foot of the total area utilized by the taxpayer

ten such employment opportunities. The relocation costs for which the cred-

in the occupied premises.

it may be claimed are those incurred during the tax year in connection with

OTHER DEFINITIONS

employment opportunities relocated to the City during the tax year.

The allowable credit is based upon "employment opportunity relocation

"Employment opportunity" means the creation of a full-time posi-

costs" incurred by the taxpayer during its taxable year, but may not exceed a

tion of gainful employment for an industrial or commercial

maximum of:

employee and the actual hiring of such employee for the position.

$300 for each commercial employment opportunity; and

"Industrial employee" means one engaged in the manufacturing or

assembling of tangible goods or the processing of raw materials.

$500 for each industrial employment opportunity,

relocated to the City from an area outside the State.

"Commercial employee" means one engaged in the buying, selling

or otherwise providing of goods or services other than on a retail

The relocation costs credit may be taken by the taxpayer in whole or in part

basis.

in the year in which the employment opportunities are relocated by such tax-

payer or in either of the two years succeeding such event.

"Retail" means the selling or otherwise disposing of tangible goods

For purposes of the credit, "employment opportunity relocation costs"

directly to the ultimate user or consumer.

means:

"Full-time position" means a position of gainful employment

the costs incurred by the taxpayer in moving furniture, files, papers

where the number of hours worked by the employee is not less than

and office equipment into the City from a location outside the

30 hours during any given work week.

State;

Form Nyc-114.6 - Claim For Credit Applied To Unincorporated Business Tax - 2017 Page 3

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