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.
Pursuant to the power vested in the Commissioner of Finance, notice is hereby given of the interest rates to be set for the period July 1, 2018 through September 30, 2018 for underpayments and, where applicable, overpayments of New York City income and excise taxes.
This report presents statistical information for tax year 2014 for the three New York City business income taxes: the Banking Corporation Tax (BCT), the General Corporation Tax (GCT), and the Unincorporated Business Tax (UBT)
Overall report on market values by tax class and borough, exemptions, assessed values, home sales, tax delinquency, market values, real property, school tax rates, etc.
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.
The City Charter requires that the Office of Management and Budget (OMB) publish documentation of forecasting methodologies used for projecting tax revenues for those taxes which account for five percent or more of total City tax revenues.
Certain City programs are funded by reductions in tax liability and are referred to as “tax expenditures.” This report identifies and describes tax expenditure programs related to taxes administered by the City
and provides tax expenditure estimates based on available data.
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