This memorandum provides a procedure for withdrawing the commonly owned group election made on a tax year 2015 or 2016 Form NYC-2A, Combined Business Corporation Tax Return.
This Memorandum addresses the recognition of income that a taxpayer has deferred pursuant to section 409A of the Internal Revenue Code of 1986, as amended (the “IRC”), and explains how the taxpayer should report the income for UBT purposes.
This finance memorandum supersedes Finance Memorandum 12-1 and is intended to provide guidance to taxpayers and tax professionals in complying with the New York City tax provisions
enacted in 2004 limiting the depreciation and first year expense deductions for sport utility vehicles ("SUVs").
NYC Sheriff Joe Fucito and Annette Hill, Assistant Commissioner for Land Records and the City Register testified regarding Intro 1673--Notice of the recording of certain real estate instruments.
This Finance Memorandum contains instructions for reporting GILTI, FDII, and IRC § 965 amounts on New York City General Corporation Tax (“GCT”), Unincorporated Business Tax (“UBT”), and Banking Corporation Tax (“BTX”) 1 returns and attachments.