This memorandum of understanding between the Mayor's Office to Combat Domestic Violence (OCDV), Sanctuary for Families, New York Legal Assistance Group, Children's Law Center, and Administration for Children's Services in regards to creating a consulting committee for Safe Haven.
Tax underpayments will have interest applied to them daily. The rates below apply to tax underpayments of income and excise taxes including General Corporation Tax (GCT), Unincorporated Business Tax (UBT) and Banking Corporation Tax (BCT).
S corporation which underwent a federal tax exempt reorganization under IRC section 368(1)(a)(F) (an F Reorganization) should file its General Corporation Tax return for the entire tax year covering both the period before and after the F Reorganization. No short period returns should be filed. In the F Reorganization , the shareholders of the old subchapter S corporation contributed their shares in the old corporation to a new subchapter S corporation with the old subchapter S corporation becoming a qualified subchapter S subsidiary (a Q-Sub) of the new subchapter S corporation; the Q-Sub then merged into an LLC wholly owned by the new subchapter S corporation and disregarded for tax purposes, with that LLC being the surviving entity. Hence, before the F reorganization, the old subchapter S corporation owned its assets directly; after the F reorganization, the new subchapter S corporation wholly owned an LLC which in turn owned the old subchapter S corporation's assets. #15-4966 6/3/15
Sale of two cooperative apartments that had been used as a single residential dwelling for over 40 years, and that the purchasers, with board approval using a proposal obtained from an architect, intend to physically combine, should be treated as the sale of a single cooperative apartment subject to the lower tax rate schedule under Code section 11-2102(b)(1)(B)(i). #16-4977 6/9/16
Sale of a one family home with one office, categorized as tax Class 1 to reflect that the Property is used primarily for residential purposes, and having a building Code S1 (primarily 1 family with 1 store or office) consistent with the tax classification is taxed at a reduced rate of 1.425 percent when calculating the RPTT due upon the conveyance of the Property. In the absence of information suggesting the Department's classification of the Property as Class 1 is incorrect, that classification is controlling for RPTT purposes. #15-4975 5/13/16
Sale of real property by an LLC wholly-owned by an entity exempt from the Real Property Transfer Tax Code section 11-2016(b)(2), whose sole purpose is to own and hold the real property for the exempt entity, and whose members must act as the exempt entity directs, should be exempt from Real Property Transfer Tax. Similarly, transfer of real property to an LLC wholly-owned by an entity exempt from the Real Property Transfer Tax Code section 11-2016(b)(2), whose sole purpose is to own and hold the real property for the exempt entity, and whose members must act as the exempt entity directs, should be exempt from Real Property Transfer Tax. #15-4974 5/23/16
The transfer of two adjacent condominium units that had been physically combined and used as a single apartment for over 50 years, in a single transaction, is treated as the sale of an individual residential condominium unit even though permits for the combination were never filed with the Department of Buildings. #15-4973 9/24/15
Sale of two cooperative apartment unit physically connected through an internal hallway and used as a single apartment unit for over four decades treated as the sale of an individual cooperative apartment subject to the lower rate schedule Code section 11-2102(b)(1)(B)(i) exempt from Real Property Transfer Tax. #15-4970 10/16/15
The transaction involving the transfer of Air Rights should be viewed in its entirety for purposes of the RPTT. The quit claim deeds are not part of a separate transaction but merely a mechanism to confirm and record that the Purchaser owns the portion of the building housing the residential condominium units and the Seller owns the commercial condominium unit and do not result in a change in beneficial ownership. The consideration for the transfer of the Air Rights is $15,230,000 plus the value of the commercial unit constructed by the Purchaser for the Seller less the $500,000 that the Seller contributed towards the construction. #15-4967 11/13/15
Sale of a single condominium apartment unit along with one or more noncontiguous studio units, the ownership and use of which is substantially restricted under the condominium's by-laws, should be treated as the sale of an individual condominium apartment subject to the lower tax rate schedule for Real Property Transfer Tax provided in Code section 11-2102(a)(9)(i). #14-4965 6/15/15
Sale of a single condominium apartment unit along with one or more noncontiguous suite units, the ownership and use of which is substantially restricted under the condominium's by-laws, should be treated as the sale of an individual condominium apartment subject to the lower tax rate schedule for Real Property Transfer Tax provided in Administrative Code section 11-2102(a)(9)(i). #14-4963 6/15/15
An undeveloped air rights parcel may be a tax lot for administrative purposes, but will have no separate assessable value under the Real Property Tax Law.
Adopted Amendment to the Rules which would allow Senior Citizen Rent Increase Exemption and Disability Rent Increase Exemption Program Participants to file Renewal Applications Past Specified Deadline
The New York City Department of Finance began accepting a revised power of attorney form for taxpayers that appoint individuals to represent them in tax matters with DOF and the New York State Department of Taxation and Finance (DTF). The revised power of attorney form is Form POA-1 (version 6/17), and it is available on both the DOF and DTF websites. It supersedes Finance Memorandum 17-4.
The Department of Finance is proposing to amend its rules by adding information from a lessor of a vehicle when the company that owns the vehicle enrolls or renews their enrollment in the Parking Violations Bureau Car Rental Program.
Application of IRC 280F Limits to Sport Utility Vehicles #12-1. This Finance Memorandum 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.
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").
Fair Chance Act fact sheet for employees, so New York workers can understand that criminal history can't be part of the hiring process until after a job offer.
Fair Chance Act fact sheet for employees, so New York workers can understand that criminal history can't be part of the hiring process until after a job offer. In Spanish
Fair Chance Act fact sheet for employees, so New York workers can understand that criminal history can't be part of the hiring process until after a job offer. In Traditional Chinese
Fair Chance Act fact sheet for employees, so New York workers can understand that criminal history can't be part of the hiring process until after a job offer. In Korean
Fair Chance Act fact sheet for employees, so New York workers can understand that criminal history can't be part of the hiring process until after a job offer. In Haitian Creole
Fair Chance Act fact sheet for employers, so New York workers can understand that criminal history can't be part of the hiring process until after a job offer.
Fair Chance Act fact sheet for employers, so New York workers can understand that criminal history can't be part of the hiring process until after a job offer. In Spanish
Fair Chance Act fact sheet for employers, so New York workers can understand that criminal history can't be part of the hiring process until after a job offer. In Traditional Chinese
Fair Chance Act fact sheet for employers, so New York workers can understand that criminal history can't be part of the hiring process until after a job offer. In Korean
Fair Chance Act fact sheet for employers, so New York workers can understand that criminal history can't be part of the hiring process until after a job offer. In Haitian Creole.
Fair Chance Act fact sheet for employers, so New York workers can understand that criminal history can't be part of the hiring process until after a job offer. In Russian.
Fact sheet for employees and job seekers on their rights under the New York City Human Rights Law and the Stop Credit Discrimination in Employment Act. In Spanish
Fact sheet for employees and job seekers on their rights under the New York City Human Rights Law and the Stop Credit Discrimination in Employment Act. In Russian
Fact sheet for employees and job seekers on their rights under the New York City Human Rights Law and the Stop Credit Discrimination in Employment Act. In Korean.
Fact sheet for employees and job seekers on their rights under the New York City Human Rights Law and the Stop Credit Discrimination in Employment Act In Haitian Creole.
Fact sheet for employees and job seekers on their rights under the New York City Human Rights Law and the Stop Credit Discrimination in Employment Act. In Traditional Chinese.
Fact sheet for employees and job seekers on their rights under the New York City Human Rights Law and the Stop Credit Discrimination in Employment Act. In Bengali.
Fact sheet for employers on their rights and obligations under the New York City Human Rights Law and the Stop Credit Discrimination in Employment Act. In Spanish.