reglab/statecodes huggingface dataset:
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter II - Income Taxes and Estate Taxes › Subchapter A - New York State Personal Income Tax Under Article 22 Of The Tax Law › Article 4 - New York State Income Tax Returns and Payment of Income Tax › Part 154 - Change Of Resident Status During Year › Lump Sum Distributions › Section 154.12 - Special accruals relating to the ordinary income portion of lump sum distributions

Current through Register Vol. 46, No. 28, July 10, 2024
Tax Law, § 654(i)
(a)
General.
(1) Where an individual or a trust electing lump sum treatment (
i.e.,
) the special 10-year averaging method) under subsection (e) of section  402 of the Internal Revenue Code changes resident status during the taxable year (from resident to nonresident, or from nonresident to resident), such individual or trust must, regardless of the method of accounting normally employed, accrue for the portion of the taxable year prior to the change of resident status the total taxable amount of the lump sum distribution accruing for the period prior to the change of resident status as if a Federal income tax return were being filed for the same period on the accrual basis. The total taxable amount accruing for the period prior to the change of resident status must be reported on form IT-230 or IT-230.1 (whichever is applicable) and such form must be attached to the New York State personal or fiduciary income tax return filed for the period prior to the change of resident status.
(2) The accrual provision under paragraph (1) of this subdivision is not applicable in cases where an individual or trust changing resident status during the taxable year:
(i) has not elected the special 10-year averaging method pursuant to section  402(e) of the Internal Revenue Code for the taxable year in which the change of residence occurred (in such case, the ordinary income portion and the capital gain portion of the lump sum distribution are includible in the taxpayer's New York taxable income and New York State minimum taxable income in accordance with the applicable provisions of sections 154.5 and 154.10  of this Part); or
(ii) received the lump sum distribution prior to the change of resident status, elected the special 10-year averaging method pursuant to subsection (e) of section  402 of the Internal Revenue Code and is subject to tax under section 601-C of the Tax Law on the ordinary income portion of such lump sum distribution for the portion of the taxable year prior to the change of resident status.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter II - Income Taxes and Estate Taxes › Subchapter A - New York State Personal Income Tax Under Article 22 Of The Tax Law › Article 4 - New York State Income Tax Returns and Payment of Income Tax › Part 154 - Change Of Resident Status During Year › Lump Sum Distributions › Section 154.13 - Rule for combining amounts included in lump sum distributions

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Where an individual or a trust elected lump sum treatment for Federal income tax purposes (
i.e.,
the special 10-year averaging method under subsection [e] of section  402 of the Internal Revenue Code) for the taxable year in which the taxpayer changed resident status, and such taxpayer received two or more lump sum distributions during the taxable year (one of which was received in or accruable to each of the separate periods of residence and nonresidence), the combined amount (see subdivision [b] of this section) of each of the following items (where applicable) attributable to the separate periods of residence and nonresidence must be reported on form IT-230 or IT-230.1 (whichever is applicable) in determining the taxpayer's separate tax on the ordinary income portion of such lump sum distributions for the taxable year:
(1) the capital gain portion;
(2) the ordinary income portion;
(3) the death benefit exclusion; and
(4) the current actuarial value of the annuity.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter II - Income Taxes and Estate Taxes › Subchapter A - New York State Personal Income Tax Under Article 22 Of The Tax Law › Article 4 - New York State Income Tax Returns and Payment of Income Tax › Part 157 - Extensions Of Time › Section 157.1 - Extensions of time-general rule

Current through Register Vol. 46, No. 28, July 10, 2024
Tax Law, § 657(a)
(a)
(1) The
					 Department may grant a reasonable extension of time for filing any New York
					 State income tax return, statement, or other required document or for payment
					 of New York State income tax or estimated tax (or any installment) on such
					 terms and conditions as it may require. However, with the exception of a
					 taxpayer who is outside the United States and Puerto Rico or who intends to
					 claim nonresident status pursuant to the provisions of section 605 (b)(1)(A)(ii)  of the Tax
					 Law, no such extension shall be for more than six months.
(2) To be granted any of the extensions
					 described in paragraph (1) of this subdivision, individuals serving in the
					 Armed Forces of the United States are required to comply with the terms and
					 conditions of this Part. However, section 696  of the Tax Law provides certain
					 individuals who are serving or who have been injured while serving in combat
					 zones, contingency operations where the individual is deployed outside the
					 United States away from the individual's permanent duty station, or qualified
					 hazardous duty areas with additional time to file returns, make payments of
					 tax, and claim any credits or refunds. See section 696  of the Tax Law for more detailed
					 information.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter II - Income Taxes and Estate Taxes › Subchapter A - New York State Personal Income Tax Under Article 22 Of The Tax Law › Article 4 - New York State Income Tax Returns and Payment of Income Tax › Part 157 - Extensions Of Time › Section 157.3 - Additional extension of time

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Maximum period of extension of time to
					 file a New York State income tax return. Except as provided in subdivision (b)
					 of this section, the maximum period of extension of time to file a New York
					 State income tax return under the provisions of section 657 
					 of the Tax Law and of this Part is six months. The period of extension is
					 computed from the original due date of the income tax return.
(b) Additional extension of time to file
					 beyond six months.
(1) The department may
					 grant an extension of time to file for longer than six months to a taxpayer:
(i) who is outside the United States and
					 Puerto Rico; or
(ii) who intends to
					 claim nonresident status pursuant to section 605 (b)(1)(A)(ii)  of the Tax
					 Law.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter II - Income Taxes and Estate Taxes › Subchapter A - New York State Personal Income Tax Under Article 22 Of The Tax Law › Article 4 - New York State Income Tax Returns and Payment of Income Tax › Part 157 - Extensions Of Time › Section 157.4 - Extensions of time for United States citizens abroad

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Automatic two-month extension of time to file where Federal extension granted. A taxpayer who qualifies for an automatic extension of two months to file such taxpayer's Federal income tax return, without application, because such taxpayer is a United States citizen or resident who (1) lives outside the United States and Puerto Rico, and whose tax home (within the meaning of section  162[a][2] of the Internal Revenue Code) for Federal income tax purposes is outside the United States and Puerto Rico, or (2) is in the Armed Forces of the United States serving outside the United States and Puerto Rico on the date such taxpayer's Federal income tax return is due, is also entitled to a similar extension of time to file such taxpayer's New York State personal income tax return, as long as such taxpayer attaches to such taxpayer's New York State personal income tax return a statement showing that such taxpayer qualifies for an automatic two-month extension of time to file such taxpayer's Federal income tax return. The time to pay such taxpayer's New York State personal income tax, City of New York tax and City of Yonkers tax is also similarly automatically extended. However, there will be added to such taxpayer's New York State personal income tax, City of New York tax and City of Yonkers tax, interest at the rate prescribed by the Commissioner of Taxation and Finance (see Part 2393 of this Title) on any balance of New York State personal income tax, City of New York tax and City of Yonkers tax due from the due date of such taxpayer's New York State personal income tax return (determined without regard to any extension of time) to the date of payment.
(b) Application for additional four-month automatic extension of time to file. Where a New York State personal income tax return cannot be filed on or before the end of the automatic two- month extension of time referred to in subdivision (a) of this section, a taxpayer will be allowed an additional four-month extension of time if such taxpayer files an application and makes the required payment of New York State personal income tax, City of New York tax, and City of Yonkers tax on or before the end of such automatic two-month extension of time in accordance with the provisions of section 157.2  of this Part. Interest at the rate prescribed by the commissioner (see Part 2393 of this Title) on any balance of New York State personal income tax, City of New York tax, and City of Yonkers tax will be due from the due date of the New York State personal income tax return (determined without regard to any extension of time) to the date of payment.
(c) See section 157.3  of this Part for additional extension of time.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter II - Income Taxes and Estate Taxes › Subchapter A - New York State Personal Income Tax Under Article 22 Of The Tax Law › Article 4 - New York State Income Tax Returns and Payment of Income Tax › Part 157 - Extensions Of Time › Section 157.5 - Extension of time for payment of New York State personal income tax, City of New York tax and City of Yonkers tax

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Income tax payments. The department may,
					 apart from any extension of time to file a New York State income tax return,
					 grant a reasonable extension of time for payment of the New York State personal
					 income tax, City of New York tax, and City of Yonkers tax upon receipt of a
					 letter from the taxpayer giving complete information as to the reasons for such
					 taxpayer's inability to make payment of the New York State personal income tax,
					 City of New York tax, and City of Yonkers tax on or before the prescribed due
					 date. However, except as provided in subdivision (b) of this section, where the
					 time for payment of any New York State personal income tax, City of New York
					 tax, and City of Yonkers tax is extended, interest will be added at the rate
					 prescribed by the commissioner (see Part 2393 of this Title) on any balance due
					 from the original due date of the New York State income tax return (determined
					 without regard to any extension of time) to the date of payment.
(b) Estimated tax payments.
(1) The department may grant an extension of
					 time for paying any installment of estimated tax required to be paid, in order
					 to avoid the addition to tax imposed under section 685 (c)  of the Tax Law (see
					 section
					 185.3 
					 of this Title), without interest. Such extension, however, will only be granted
					 because the taxpayer is seriously ill or for other compelling reasons. A
					 request for an extension of time for paying any installment of estimated tax
					 should be made by letter and mailed to New York State Income Tax, W.A. Harriman
					 Campus, Albany, NY 12227.
(2) An
					 extension of time for paying any installment of estimated tax will normally be
					 limited to one month and, except in cases of a taxpayer who is outside the
					 United States and Puerto Rico or a taxpayer who intends to claim nonresident
					 status pursuant to section 605 (b)(1)(A)(ii)  of the Tax
					 Law, no extension will be granted for more than six months.
(3) An extension of time for paying any
					 installment of estimated tax does not extend the time for paying any other
					 installment. Further, an extension of time for paying any installment of
					 estimated tax does not relieve a taxpayer from liability for any addition to
					 New York State personal income tax, City of New York tax or City of Yonkers tax
					 for an underpayment of an installment payment. For purposes of determining the
					 period of underpayment, the due date of any installment is determined without
					 regard to any extension of time.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter II - Income Taxes and Estate Taxes › Subchapter A - New York State Personal Income Tax Under Article 22 Of The Tax Law › Article 4 - New York State Income Tax Returns and Payment of Income Tax › Part 157 - Extensions Of Time › Section 157.6 - Repealed

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter II - Income Taxes and Estate Taxes › Subchapter A - New York State Personal Income Tax Under Article 22 Of The Tax Law › Article 4 - New York State Income Tax Returns and Payment of Income Tax › Part 157 - Extensions Of Time › Section 157.7 - Interest and additions to tax

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
					 Interest. Interest, at the rate prescribed by the Commissioner of Taxation and
					 Finance (see Part 2393 of this Title), accrues on any balance of New York State
					 personal income tax, City of New York tax and City of Yonkers tax due from the
					 due date of the New York State personal income tax return (determined without
					 regard to any extension of time to file), to the date of payment.
(b) Additions to tax. The additions to tax
					 for late filing and late payment must be imposed on any balance of New York
					 State personal income tax, City of New York tax and City of Yonkers tax
					 remaining unpaid after the due date of the return, determined with regard to
					 any extensions of time to file or extensions of time to pay, unless it can be
					 shown that a basis for reasonable cause exists pursuant to section
					 2392.1  of this
					 Title for such late filing or late payment or unless the provisions relating to
					 the presumption of reasonable cause pursuant to section
					 2392.1  of this
					 Title are met for such late payment.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter II - Income Taxes and Estate Taxes › Subchapter A - New York State Personal Income Tax Under Article 22 Of The Tax Law › Article 4 - New York State Income Tax Returns and Payment of Income Tax › Part 157 - Extensions Of Time › Section 157.8 - Cross-references

Current through Register Vol. 46, No. 28, July 10, 2024
See Part
(a) Exclusion or deduction relating to income earned abroad (with reference
to sections  911 and  913 of the Internal Revenue Code)
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter II - Income Taxes and Estate Taxes › Subchapter A - New York State Personal Income Tax Under Article 22 Of The Tax Law › Article 4 - New York State Income Tax Returns and Payment of Income Tax › Part 158 - Requirements Concerning New York State Income Tax Returns, Notices, Records And Statements › General › Section 158.2 - Records to be kept by farmers and wage earners

Current through Register Vol. 46, No. 28, July 10, 2024
Individuals deriving gross income from the business of
						  farming, and individuals whose gross income includes salaries, wages or similar
						  compensation for personal services rendered, are required, with respect to such
						  income, to keep such records (including duplicate copies of the wage and tax
						  statements furnished by their employers) as will enable the Tax Commission to
						  determine the correct amount of New York State income subject to tax. It is not
						  necessary, however, that with respect to such income individuals keep the books
						  of account and records required by section
						  158.1 
						  of this Part.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter II - Income Taxes and Estate Taxes › Subchapter A - New York State Personal Income Tax Under Article 22 Of The Tax Law › Article 4 - New York State Income Tax Returns and Payment of Income Tax › Part 158 - Requirements Concerning New York State Income Tax Returns, Notices, Records And Statements › General › Section 158.3 - Form of records

Current through Register Vol. 46, No. 28, July 10, 2024
(a) No
						particular form is required for keeping the records, but such systems of
						accounting must be used as will enable the Tax Commission to ascertain whether
						liability for New York State income tax is incurred or whether a New York State
						information return is required to be filed and, if so, the correctness of the
						amounts required to be reported in any New York State income tax return or New
						York State information return.
(b)
						See Part 2402 of this Title for taxpayer record retention formats.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter II - Income Taxes and Estate Taxes › Subchapter A - New York State Personal Income Tax Under Article 22 Of The Tax Law › Article 4 - New York State Income Tax Returns and Payment of Income Tax › Part 158 - Requirements Concerning New York State Income Tax Returns, Notices, Records And Statements › General › Section 158.4 - Records of employers and other persons required to file New York State information returns

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Every
						employer or withholding agent, as defined for Federal income tax withholding
						purposes, required under section 671  of the Tax Law (see Part 171 of this
						Title) to deduct and withhold New York State personal income tax upon the wages
						of employees, and every person required to file New York State information
						returns pursuant to section
						158.10 
						of this Part, must keep all records pertinent to withholding of New York State
						personal income tax and New York State information returns available for
						examination and inspection by the Department of Taxation and Finance, or its
						authorized representatives. Records with respect to New York State personal
						income tax withheld must be retained for a period of four years after the due
						date of the New York State personal income tax withheld for the return period
						to which the records relate, or the date the New York State personal income tax
						withheld was paid, whichever is later. Records with respect to any other New
						York State information returns must be retained for a period of four years
						after the due date of the New York State information return.
(b) No particular form is prescribed for the
						keeping of records of employers and other persons required to file New York
						State information returns. However, in the case of employers, the records
						should include the amounts and dates of all wage payments subject to New York
						State personal income tax, the names, addresses and occupations of employees
						receiving such payments, the periods of their employment, the periods for which
						they are paid by the employer while absent due to sickness or personal injuries
						and the amount and weekly rate of such payments, their social security account
						numbers, their income tax withholding exemption certificates, the employer's
						identification number, record of New York State employer withholding returns
						and reports filed, and the dates and amounts of New York State personal income
						tax withholding payments made.
(c)
						For nonresident employees performing services partly within and partly without
						New York State, a record of the allocation used for withholding purposes must
						be kept.
(d) See Part 2402 of this
						Title for taxpayer record retention formats.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter II - Income Taxes and Estate Taxes › Subchapter A - New York State Personal Income Tax Under Article 22 Of The Tax Law › Article 4 - New York State Income Tax Returns and Payment of Income Tax › Part 158 - Requirements Concerning New York State Income Tax Returns, Notices, Records And Statements › General › Section 158.5 - Notice by Tax Commission requiring New York State income tax returns, statements, or the keeping of records

Current through Register Vol. 46, No. 28, July 10, 2024
Tax Law, § 658(a)
The Tax Commission may require any person, by notice
						  served upon such person, to make such New York State income tax returns, render
						  such statements, furnish such copies of Federal income tax returns and of
						  Federal audit determinations, or keep such specific records as the Tax
						  Commission may deem necessary to verify whether or not such person is complying
						  or has complied with article 22 of the Tax Law.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter II - Income Taxes and Estate Taxes › Subchapter A - New York State Personal Income Tax Under Article 22 Of The Tax Law › Article 4 - New York State Income Tax Returns and Payment of Income Tax › Part 158 - Requirements Concerning New York State Income Tax Returns, Notices, Records And Statements › General › Section 158.6 - Copies of New York State income tax returns, schedules and statements

Current through Register Vol. 46, No. 28, July 10, 2024
Every person who is required by this Subchapter, or by
						  instructions applicable to any form prescribed by this Subchapter, to keep a
						  copy of any New York State income tax return, schedule, statement or other
						  document, must keep such copy as a part of his records.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter II - Income Taxes and Estate Taxes › Subchapter A - New York State Personal Income Tax Under Article 22 Of The Tax Law › Article 4 - New York State Income Tax Returns and Payment of Income Tax › Part 158 - Requirements Concerning New York State Income Tax Returns, Notices, Records And Statements › General › Section 158.7 - Place for keeping records

Current through Register Vol. 46, No. 28, July 10, 2024
The books and records required by this Subchapter must
						  be kept at locations accessible to the representatives of the Tax Commission,
						  and must be made available for inspection by such
						  representatives.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter II - Income Taxes and Estate Taxes › Subchapter A - New York State Personal Income Tax Under Article 22 Of The Tax Law › Article 4 - New York State Income Tax Returns and Payment of Income Tax › Part 158 - Requirements Concerning New York State Income Tax Returns, Notices, Records And Statements › General › Section 158.8 - Retention of records

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
						General. Except as provided in subdivision (b) of this section and section
						158.4 
						of this Part, the books, records and a copy of any New York State income tax
						return, schedule, statement or other document required to be kept by this Title
						must be retained so long as the contents thereof may become material in the
						administration of article 22 of the Tax Law.
(b) Paid preparers. Any person who is an
						income tax return preparer (see section
						158.12[d][1] 
						of this Part) of any New York State income tax return or claim for refund must,
						for a three year retention period (see section
						158.12[d]
						[5]  of this Part), retain a complete copy of
						such return or such claim for refund, or, retain on a list, the name and
						identification number of the taxpayer for whom such return or such claim for
						refund was prepared (see section
						158.12[c] 
						of this Part).
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter II - Income Taxes and Estate Taxes › Subchapter A - New York State Personal Income Tax Under Article 22 Of The Tax Law › Article 4 - New York State Income Tax Returns and Payment of Income Tax › Part 158 - Requirements Concerning New York State Income Tax Returns, Notices, Records And Statements › General › Section 158.9 - New York State partnership returns

Current through Register Vol. 46, No. 28, July 10, 2024
Tax Law, § 658(c)
(a)
Filing requirements.
Every partnership having a partner who is a resident of New York State or having any income derived from or connected with New York State sources (determined in accordance with the applicable rules of Part 132 of this Title as in the case of a nonresident individual), regardless of the amount of its income, must make a New York State partnership return for each taxable year irrespective of the taxable years of the partners. The New York State partnership return must set forth all items of income, gain, loss and deduction, and must include the complete names, addresses and identification numbers (see section 158.1[c]  of this Part) of all the partners and the amounts of the distributive shares of income and deductions of such partners, and such other information or schedules as the Tax Commission may prescribe on its forms and instructions.
(b)
Due date for filing.
A New York State partnership return must be filed on or before the 15th day of the fourth month following the close of each taxable year except that a New York State partnership return of a partnership consisting entirely of nonresident aliens must be filed on the date prescribed for the filing of its Federal partnership return for the taxable year. For purposes of this section,
taxable year
means a year or period which would be a taxable year of the partnership if such partnership were subject to New York State personal income tax under article 22 of the Tax Law.
(c)
New York State partnership returns not required.
Under certain prescribed circumstances, a partnership return is not required to be filed for Federal income tax purposes where a qualified organization has fully elected to be completely excluded from the partnership provisions of section  761 of the Internal Revenue Code (subchapter K). Where, under such circumstances, a Federal partnership return is not required for a taxable year, a New York State partnership return is not required for such taxable year. However, where information returns (Federal form 1099) are required under the Internal Revenue Code to be filed by such qualified electing organization, similar information returns may, upon notice, be required to be furnished to New York State and such New York State information returns with respect to partners, members, officers or principals of such qualified electing organization must indicate thereon the amounts of their distributive shares of income and other payments of income for the taxable year. In addition, the Department of Taxation and Finance may require such other information as it deems necessary.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter II - Income Taxes and Estate Taxes › Subchapter A - New York State Personal Income Tax Under Article 22 Of The Tax Law › Article 4 - New York State Income Tax Returns and Payment of Income Tax › Part 158 - Requirements Concerning New York State Income Tax Returns, Notices, Records And Statements › Information at Source › Section 158.10 - Power to require New York State information returns

Current through Register Vol. 46, No. 28, July 10, 2024
Tax Law, §§ 658(d), 697
(a) The Department of Taxation and Finance
						may, in its discretion, require the filing of New York State information
						returns at any time with respect to any amounts it deems necessary to enforce
						the provisions of article 22 of the Tax Law.
(b) The Department of Taxation and Finance
						may grant authorization to file any information returns required pursuant to
						this section on magnetic media. Persons granted such authorization must comply
						with the instructions and requirements of the Department of Taxation and
						Finance with respect to filing such information returns on magnetic media.
						Failure to comply with such instructions and requirements may subject such
						person to penalties and/or additions to tax (see section 685  of the Tax Law).
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter II - Income Taxes and Estate Taxes › Subchapter A - New York State Personal Income Tax Under Article 22 Of The Tax Law › Article 4 - New York State Income Tax Returns and Payment of Income Tax › Part 158 - Requirements Concerning New York State Income Tax Returns, Notices, Records And Statements › Notices of Qualification as Receiver, Etc › Section 158.11 - Notice of qualification as receiver, etc

Current through Register Vol. 46, No. 28, July 10, 2024
Tax Law, § 658(e)
Every receiver, trustee in bankruptcy, assignee for benefit of creditors, or other like fiduciary (a) of a taxpayer subject to New York State personal income tax, (b) of a partnership which must file a New York State partnership return in accordance with section 151.4  of this Title, or (c) of an employer which must withhold New York State personal income taxes pursuant to Part 171 of this Title, required under the Internal Revenue Code and its applicable regulations to give notice of his or its qualification to act in such capacity must, within the same required period, give like written notice to the Tax Commission (see Internal Revenue Code, section 6036, and section 301.6036 -1(a) of the Internal Revenue Code Regulations).
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter II - Income Taxes and Estate Taxes › Subchapter A - New York State Personal Income Tax Under Article 22 Of The Tax Law › Article 4 - New York State Income Tax Returns and Payment of Income Tax › Part 158 - Requirements Concerning New York State Income Tax Returns, Notices, Records And Statements › Composite Returns › Section 158.13 - Composite returns

Current through Register Vol. 46, No. 28, July 10, 2024
Tax Law, §§ 658(a), 697(a)
Notwithstanding any provision in this Subchapter to the
						  contrary, the commissioner may authorize the use, at the option of a person
						  required to make a New York State income tax return, of a composite return in
						  lieu of any income tax form specified in this Subchapter for use by such a
						  person, subject to such conditions, limitations, and special rules governing
						  the preparation, execution, filing and correction thereof, as the commissioner
						  may deem appropriate. Such composite return shall consist of a form or forms
						  prescribed by the commissioner and an attachment or attachments of magnetic
						  tape or other approved media. Notwithstanding any provision in this Subchapter
						  to the contrary, a single form and attachment may comprise the returns of more
						  than one such person. To the extent that the use of a composite return has been
						  authorized by the commissioner, references in this Subchapter to a specific
						  form for use by such a person shall be deemed to refer also to a composite
						  return under this section.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter II - Income Taxes and Estate Taxes › Subchapter A - New York State Personal Income Tax Under Article 22 Of The Tax Law › Article 4 - New York State Income Tax Returns and Payment of Income Tax › Part 158 - Requirements Concerning New York State Income Tax Returns, Notices, Records And Statements › Cross-references › Section 158.14 - Cross-references

Current through Register Vol. 46, No. 28, July 10, 2024
See Part
(a)
						Signing of New York State income tax returns, statements or other
						documents............153
(b) Report
						of change in Federal taxable income, items of tax preference,
total taxable amount or ordinary income portion of a
						  lump sum distribution, income tax withholding, disallowance of refund claim or
						  credit for employment-related expenses............ 159
(c) Requirement of withholding New York State
						personal income tax from wages............171
(d) New York State information statement for
						employee ............172
amount of New York State personal income tax originally
						  withheld and reported, the amount of New York State personal income tax which
						  should have been withheld and reported, and the reason for the increase in the
						  amount of New York State personal income tax required to be withheld and
						  reported.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter II - Income Taxes and Estate Taxes › Subchapter A - New York State Personal Income Tax Under Article 22 Of The Tax Law › Article 4 - New York State Income Tax Returns and Payment of Income Tax › Part 159 - Report Of Change In Federal Taxable Income, Items Of Tax Preference, Total Taxable Amount Or Ordinary Income Portion Of A Lump Sum Distribution, Income Tax Withholding, Disallowance Of Refund Claim Or Credit For Employment- Related Expenses › Section 159.1 - Report of change in Federal taxable income, items of tax preference, total taxable amount or ordinary income portion of a lump sum distribution, income tax withholding, disallowance of refund claim or credit for employment-related expenses

Current through Register Vol. 46, No. 28, July 10, 2024
Tax Law, § 659
If the amount of a taxpayer's Federal taxable income,
						Federal items of tax preference or total taxable amount or ordinary income
						portion of a lump sum distribution, or the amount of a taxpayer's Federal
						credit for employment-related expenses is changed or corrected by the United
						States Internal Revenue Service or other competent authority, or as a result of
						a renegotiation of a contract or subcontract with the United States or the
						amount an employer is required to deduct and withhold from wages for Federal
						income tax withholding purposes is changed or corrected by such service or
						authority or if a taxpayer's claim for credit or refund of Federal income tax
						is disallowed in whole or in part, the taxpayer or employer must report such
						change or correction in Federal taxable income, Federal items of tax
						preference, total taxable amount or ordinary income portion of a lump sum
						distribution, Federal credit for employment-related expenses or Federal income
						tax withholding or such disallowance of the claim for credit or refund of
						Federal income tax to the Tax Commission within 90 days after the final
						determination of such change, correction, renegotiation or disallowance and
						shall concede the accuracy thereof or state wherein it is erroneous. Such
						report may be required at any other time if the Tax Commission deems it
						necessary.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter II - Income Taxes and Estate Taxes › Subchapter A - New York State Personal Income Tax Under Article 22 Of The Tax Law › Article 4 - New York State Income Tax Returns and Payment of Income Tax › Part 159 - Report Of Change In Federal Taxable Income, Items Of Tax Preference, Total Taxable Amount Or Ordinary Income Portion Of A Lump Sum Distribution, Income Tax Withholding, Disallowance Of Refund Claim Or Credit For Employment- Related Expenses › Section 159.3 - Amended New York State income tax returns

Current through Register Vol. 46, No. 28, July 10, 2024
Tax Law, § 659
A taxpayer who files an amended Federal income tax return
						or an employer who files an amended Federal return of income tax withheld must
						also file, within 90 days thereafter, a similarly amended New York State income
						tax return(s) with the Tax Commission and must pay the additional New York
						State income tax, if any, shown to be due thereon. The amended New York State
						income tax return to be filed with respect to an employer filing an amended
						Federal return of income tax withheld must be filed on form IT-2101 (PNS)
						marked "amended" and must be accompanied by a statement showing the amount of
						New York State personal income tax originally withheld and reported, the amount
						of New York State personal income tax which should have been withheld and
						reported, and the reason for the increase in the amount on New York State
						personal income tax required to be withheld and reported.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter II - Income Taxes and Estate Taxes › Subchapter A - New York State Personal Income Tax Under Article 22 Of The Tax Law › Article 4 - New York State Income Tax Returns and Payment of Income Tax › Part 159 - Report Of Change In Federal Taxable Income, Items Of Tax Preference, Total Taxable Amount Or Ordinary Income Portion Of A Lump Sum Distribution, Income Tax Withholding, Disallowance Of Refund Claim Or Credit For Employment- Related Expenses › Section 159.4 - Federal changes not binding

Current through Register Vol. 46, No. 28, July 10, 2024
Tax Law, § 659
The Tax Commission is not required to accept as correct
						any change (as set forth in this Part) in a taxpayer's Federal taxable income,
						Federal items of tax preference, total taxable amount or ordinary income
						portion of a lump sum distribution, Federal credit for employment-related
						expenses or the disallowance (in whole or in part) of a claim for credit or
						refund of Federal income tax or the amount an employer is required to deduct
						and withhold from wages for Federal income tax withholding purposes. Instead,
						the Tax Commission may conduct an independent audit or investigation in regard
						thereto.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter II - Income Taxes and Estate Taxes › Subchapter A - New York State Personal Income Tax Under Article 22 Of The Tax Law › Article 4 - New York State Income Tax Returns and Payment of Income Tax › Part 159 - Report Of Change In Federal Taxable Income, Items Of Tax Preference, Total Taxable Amount Or Ordinary Income Portion Of A Lump Sum Distribution, Income Tax Withholding, Disallowance Of Refund Claim Or Credit For Employment- Related Expenses › Section 159.5 - Final determination

Current through Register Vol. 46, No. 28, July 10, 2024
Tax Law, § 659
A final determination for purposes of this Part includes but is not limited to the following instances:
(a) a closing agreement made under section  7121 of the Internal Revenue Code of 1954, as amended, finally and irrevocably adjusting and settling a taxpayer's Federal income tax liability;
(b) an allowance by the Commissioner of Internal Revenue of a refund of any part of the Federal income tax shown on the taxpayer's Federal income tax return or of any deficiency thereafter assessed, whether such refund is made on the commissioner's own motion or pursuant to a judgment of a court;
(c) the 90-day deficiency notice pursuant to section  6212 of the Internal Revenue Code of 1954, as amended, unless a timely petition to redetermine the deficiency is filed in the Tax Court of the United States, in which event the judgment of the court of last resort affirming the deficiency, or the redetermination of the deficiency pursuant to a judgment of the court of last resort, is the final determination;
(d) the assessment of a deficiency pursuant to a waiver filed under section  6213 of the Internal Revenue Code of 1954, as amended, where no 90-day deficiency notice is issued; and
(e) the allowance of a tentative carry-back adjustment based upon the net operating loss carry-back pursuant to section  6411 of the Internal Revenue Code of 1954, as amended.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter II - Income Taxes and Estate Taxes › Subchapter A - New York State Personal Income Tax Under Article 22 Of The Tax Law › Article 4 - New York State Income Tax Returns and Payment of Income Tax › Part 159 - Report Of Change In Federal Taxable Income, Items Of Tax Preference, Total Taxable Amount Or Ordinary Income Portion Of A Lump Sum Distribution, Income Tax Withholding, Disallowance Of Refund Claim Or Credit For Employment- Related Expenses › Section 159.6 - Recomputation of New York State income tax

Current through Register Vol. 46, No. 28, July 10, 2024
Tax Law, §§ 683(c) and 687(c)
(a) If a taxpayer or employer fails to report
					 a change or correction or fails to file an amended New York State income tax
					 return required to be filed by section 659  of the Tax Law with respect to:
(1) a Federal change or correction or an
					 amended Federal income tax return increasing the taxpayer's Federal taxable
					 income, Federal items of tax preference, or total taxable amount or ordinary
					 income portion of a lump sum distribution;
(2) a Federal change or correction which is
					 treated in the same manner as if it were a deficiency for Federal income tax
					 purposes;
(3) a Federal change or
					 correction decreasing the taxpayer's Federal credit for employment-related
					 expenses;
(4) a Federal change or
					 correction or amended Federal return of income tax withheld increasing the
					 amount required to be deducted and withheld from wages for Federal income tax
					 purposes; or
(5) the disallowance,
					 in whole or in part, of a taxpayer's claim for credit or refund of Federal
					 income tax;
the assessment of New York State income tax may be made
						at any time.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter II - Income Taxes and Estate Taxes › Subchapter A - New York State Personal Income Tax Under Article 22 Of The Tax Law › Article 4 - New York State Income Tax Returns and Payment of Income Tax › Part 160 - Repealed

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter II - Income Taxes and Estate Taxes › Subchapter A - New York State Personal Income Tax Under Article 22 Of The Tax Law › Article 4 - New York State Income Tax Returns and Payment of Income Tax › Part 161 - Change Of Election › Section 161.1 - Change of election-general

Current through Register Vol. 46, No. 28, July 10, 2024
Tax Law, § 661
Elections by taxpayers for New York State personal income
						tax purposes are of two kinds:
(a)
					 those as to which article 22 of the Tax Law provides that the taxpayer's
					 election for Federal income tax purposes be binding for New York State personal
					 income tax purposes; and
(b) those
					 as to which article 22 authorizes a different or independent election for New
					 York State personal income tax purposes.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter II - Income Taxes and Estate Taxes › Subchapter A - New York State Personal Income Tax Under Article 22 Of The Tax Law › Article 4 - New York State Income Tax Returns and Payment of Income Tax › Part 161 - Change Of Election › Section 161.2 - Federal elections binding for New York State personal income tax purposes

Current through Register Vol. 46, No. 28, July 10, 2024
(a) A
					 taxpayer who does not claim itemized deductions on his Federal income tax
					 return for any year must determine his New York taxable income for such year by
					 claiming the New York standard deduction. Such taxpayer may not claim the New
					 York itemized deduction for such year. For taxpayers who do claim itemized
					 deductions on their Federal income tax return, see section
					 161.3 
					 of this Part. (Also see Part 113 of this Title for the New York deduction of a
					 resident individual.)
(b) An
					 election by a husband and wife who file separate Federal income tax returns for
					 any year is also binding for New York State personal income tax purposes; they
					 must file separate New York State personal income tax returns on separate forms
					 for that year.
(c) Other examples
					 of Federal elections which are binding for New York State personal income tax
					 purposes include, but are not limited to, those relating to:
(1) the special 10-year averaging method with
					 respect to lump sum distributions;
(2) the reporting of income from a sale or
					 exchange of property on the installment basis;
(3) changes in inventory basis;
(4) capitalization of drilling, development
					 and exploration costs and similar items set forth in the Internal Revenue
					 Code;
(5) recognition and
					 nonrecognition of gain or loss in the case of certain liquidations;
					 and
(6) bad debt reserves,
					 recoveries, etc.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter II - Income Taxes and Estate Taxes › Subchapter A - New York State Personal Income Tax Under Article 22 Of The Tax Law › Article 4 - New York State Income Tax Returns and Payment of Income Tax › Part 161 - Change Of Election › Section 161.3 - New York State elections not controlled by Federal elections

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Examples of New York State elections upon
					 which Federal elections are not binding are those relating to:
(1) the claiming of the New York standard
					 deduction or the New York itemized deduction by a taxpayer who has claimed
					 itemized deductions on his Federal income tax return;
(2) the filing of a joint New York State
					 personal income tax return or separate New York State personal income tax
					 returns on one form by a husband and wife who file a joint Federal income tax
					 return;
(3) the allocation or
					 division of the New York standard deduction between a husband and wife who
					 determine their New York taxable incomes separately, either on separate forms
					 or on one form; and
(4) the
					 allocation or division of the New York itemized deduction between a husband and
					 wife who determine their Federal taxable income jointly and determine their New
					 York taxable incomes separately on one form. Where a husband and wife claim
					 itemized deductions and determine their Federal taxable incomes separately, no
					 such allocation or division of the New York itemized deduction is permitted.
					 (See section 115.10 of this Title.)
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter II - Income Taxes and Estate Taxes › Subchapter A - New York State Personal Income Tax Under Article 22 Of The Tax Law › Article 4 - New York State Income Tax Returns and Payment of Income Tax › Part 161 - Change Of Election › Section 161.5 - Additions to New York State income tax and civil penalties

Current through Register Vol. 46, No. 28, July 10, 2024
The filing and acceptance of New York State personal
						income tax returns or amended New York State personal income tax returns
						pursuant to this Part will not affect the liability for any addition to New
						York State income tax or penalty to which the taxpayer or taxpayers may have
						been subject prior to the filing of such New York State personal income tax
						return or amended New York State personal income tax returns, except that the
						amount thereof will be computed by giving effect to any change of election made
						in such New York State personal income tax return or amended New York State
						personal income tax return.