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 › New York Taxable Income, New York Personal Service Taxable Income and New York State Minimum Taxable Income › Section 154.11 - Special accruals not required in certain cases

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
(1) The
						New York State income tax return and any schedules required to be filed with
						such return of an individual or of a trust for the period prior to a change of
						status from resident to nonresident may be filed without the special accruals
						referred to in this Part if such individual or trust files with the Division of
						Taxation a surety bond or other security acceptable to the division. Except
						with regard to withholding from New York State lottery winnings (see paragraph
						[d][4] of this section), such surety bond or other security must be in an
						amount not less than the amount of additional New York State income tax
						(including the amount of additional New York State minimum income tax) which
						would be payable if no such surety bond or other security were filed. The
						filing of such surety bond or other security is conditioned upon the inclusion
						in future New York State nonresident personal or fiduciary income tax returns
						of amounts accruable (under section
						154.10  of this
						Part) in New York taxable income, New York personal service taxable income and
						New York State minimum taxable income for one or more subsequent taxable years
						as if such individual or trust had not changed resident status. The additional
						New York State income tax (including the amount of additional New York State
						minimum income tax) which is considered in determining the amount of the surety
						bond or other security (except in the case of withholding from New York State
						lottery winnings) which the individual or the trust will be required to
						furnish, is computed at the rates which the individual or trust would have been
						obliged to pay if no bond or other security had been filed, taking into account
						all accrued items of income, gain, loss, deduction and any of the modifications
						permitted or required under Parts 112, 115 and 118 of this Title (as well as
						any accrued New York items of tax preference), and resolving against such
						individual or trust all matters in dispute affecting the amount of New York
						State income tax (including the amount of New York State minimum income
						tax).
(2) If an individual or trust
						elects to defer New York State income tax (including New York State minimum
						income tax) in accordance with the provisions of this section, such taxpayer
						must forward, with the New York State income tax return(s) and any schedules
						required to be filed with such return(s) for the taxable year in which the
						change of residence occurred, separate statements for New York State income tax
						and New York State minimum income tax purposes showing the following
						information:
(i) the nature and amount of
						each item of accrued income, gain, loss or deduction as of the date of the
						change of residence, together with a computation of the additional New York
						State income tax which would be due if the election provided by this section
						had not been made, and if the accrued items were properly included in the New
						York taxable income and New York personal service taxable income on the final
						New York State income tax return filed as a resident; and
(ii) the nature and amount of each accrued
						New York item of tax preference as of the date of the change of residence,
						together with a computation of the additional New York State minimum income tax
						which would be due if the election provided by this section had not been made,
						and if the accrued New York items of tax preference were properly included in
						the New York State minimum taxable income on the final New York State Minimum
						Income Tax Computation Schedule filed as a resident.