Form Nyc-399 - Schedule Of New York City Depreciation Adjustments (Page 2 of 2) in pdf

Form NYC-399 - 2017

Page 2

Column G

ness, or two or more such businesses, which is

E N E R A L

N F O R M AT I O N

placed in service in taxable years beginning be-

Indicate the depreciation method selected for the com-

fore January 1, 1989, or after December 31, 1993.

putation of the New York City allowable depreciation

DO NOT USE THIS FORM TO REPORT AD-

deduction. Any method used to compute depreciation

WHO MUST USE THIS FORM

JUSTMENTS RELATING TO BONUS DEPRECI-

that would have been allowed under IRC Section 167

ATION

ALLOWED

UNDER

FEDERAL

will be acceptable. This includes such methods as

A corporation or unincorporated business must use Form

LEGISLATION ENACTED IN 2002 AND LATER.

straight line depreciation, declining balance deprecia-

NYC-399 if it claims an ACRS or MACRS deduction

DO NOT USE THIS FORM FOR THE SPECIAL

tion, sum-of-the-years-digits method or any other con-

for property for federal purposes that does not fall within

DEPRECIATION ADJUSTMENTS FOR CERTAIN

sistent method.

the exceptions above, and it files or is included in one of

SPORT UTILITY VEHICLES. USE FORM NYC-

the following New York City tax reports:

Column I

399Z.

Enter depreciation computed by the method indicated in

NYC-3A, NYC-3L or NYC-4S

For taxable years beginning on or after January 1, 1982,

General Business Corporations

column G. Total of this column will be the depreciation

and before January 1, 1994, the federal depreciation de-

allowable as a deduction for New York City. Enter the

NYC-202, NYC-202EIN or NYC-204

duction permitted under Internal Revenue Code Sec-

total amount on the appropriate line of your New York

Unincorporated Businesses

tion 168 (the Accelerated Cost Recovery System -

City tax return.

NYC-1

ACRS or Modified Accelerated Cost Recovery System

LINE 1

Banking Corporations

- MACRS) was not permitted to be used in determining

Enter total of columns F and I on lines 4 and 5 of

taxable income for General Corporation Tax, Banking

NYC-2, NYC-2S or NYC-2A

Schedule C. If you have disposed of “recovery prop-

Corporation Tax and Unincorporated Business Tax pur-

Business Corporations

erty” you must complete Schedule B.

poses. (See exceptions below.) In place of the federal

ACRS or MACRS depreciation deduction, a deprecia-

SCHEDULE B

tion deduction computed by any other method permit-

Column A

P E C I F I C

N S T R U C T I O N S

ted under IRC Section 167 (as such section would have

Enter each item of property separately. Attach a rider if

applied to property placed in service on December 31,

SCHEDULE A

additional room is needed.

1980) was allowed. For property placed in service out-

The purpose of this schedule is to compute the allow-

side New York State for tax years beginning after De-

Column D

able New York City depreciation deduction. This form

cember 31, 1984 but before January 1, 1994, The New

Enter for each item the total amount of ACRS or

has been designed to be used with the federal depreci-

York State Supreme Court, Appellate Division, in R.J.

MACRS deductions used in the computation of the

ation schedule, Form 4562. A copy of the federal form

Reynolds Tobacco Co. v City of New York Department

prior year’s federal taxable income.

must accompany this Form NYC-399.

of Finance, 237 A.D. 2d 6, 667 N.Y.S.2d 4 (1st Dept.

Column E

1997), held that the New York City provision disallow-

Only property placed in service in taxable years be-

Enter for each item the total amount of New York City

ing the use of ACRS or MACRS was unconstitutional.

ginning after December 31, 1980, but before January

depreciation deductions used in the computation of

Accordingly, taxpayers will now be allowed to claim

1, 1985, and property placed in service outside New

prior years’ entire net income. For 1981 recovery prop-

the same depreciation as was claimed on the federal tax

York State in taxable years beginning after Decem-

erty, the New York City depreciation deduction was the

return for property placed in service outside New York

ber 31, 1984, and before January 1, 1994 for which

same as the ACRS or MACRS deduction and must be

State in those tax years as provided in Finance Memo-

the taxpayer DOES NOT intend to use ACRS or

included in this column.

randum 99-4 “Depreciation for Property Placed in Serv-

MACRS depreciation (see the second bulleted excep-

Column F

ice Outside New York After 1984 and before 1994”.

tion above), (except for Section 280-F property and

If the total ACRS or MACRS deduction exceeds total

property of a taxpayer subject to the General Cor-

Exceptions

New York City depreciation, subtract column E from

poration Tax or Business Corporation Tax principally

A depreciation deduction computed under ACRS or

column D and enter the excess in this column.

engaged in the conduct of an aviation, steamboat,

MACRS may be used for:

ferry or navigation business, or two or more such

Column G

property placed in service in New York State in

businesses, which is placed in service before taxable

If the total New York City depreciation exceeds ACRS

taxable years beginning on or after January 1,

years beginning in 1989 or after 1993) should be en-

or MACRS deductions, subtract column D from col-

1985;

tered in this schedule.

umn E and enter the excess in this column.

Column A

property placed in service outside New York State

LINE 2

in taxable years beginning after 1984 and before

Enter a brief description of each item of property de-

Total column F and enter amount on line 6,

1994 for which the taxpayer intends to use ACRS or

scribed above included in part III, federal Form 4562.

Schedule C.

MACRS depreciation as provided in Finance Mem-

Column B

LINE 3

orandum 99-4 “Depreciation for Property Placed in

For each item of property listed in column A, indicate

Total column G and enter amount on line 7, Schedule C.

Service Outside New York State After 1984 and Be-

the “class of property” used in computation of the fed-

fore 1994”.

SCHEDULE C

eral ACRS or MACRS deduction. Use “UPM” for

property placed in service outside of New York

property placed in service after December 31, 1980,

LINE 8

State in taxable years beginning on or after Janu-

which is depreciated under the unit of production

Enter the amount on line 8A, the federal adjustment, as

ary 1, 1994;

method provided in IRC Section 168(f)(1).

an addition and the amount on line 8B, the New York

recovery property subject to the provisions of IRC

Column D

City adjustment, as a deduction on the applicable New

Section 280-F (such as luxury automobiles) for

York City tax return.

The cost or other basis entered in this column must be

taxable years ending after June 18, 1984;

the same amount used for federal purposes. Property

property of a taxpayer subject to the General Cor-

placed in service in 1981 must be shown at the original

poration Tax principally engaged in the conduct

cost and should not be reduced by any depreciation

of an aviation, steamboat, ferry or navigation busi-

claimed in 1981.

Form Nyc-399 - Schedule Of New York City Depreciation Adjustments Page 2

Related Articles

Related forms

Related Categories