Nyc Dept Of Taxation And Finance


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Nyc Dept Of Taxation And Finance

Nyc Dept Of Taxation And Finance

Tax Return Form For NYC State Income

Tax Refund Schedule

The state of New York department of taxation and finance does require you to file an annual state income tax return. The form needed for most individual taxpayers is IT-3770.

You will need to file a return even if you were a part time resident in the state of New York. If you had income within the previous tax year then you will need to file a return. This can be done by e-filing which is the fastest and easiest way to file your return.

SUTA Tax Rate

E-filing your state return will almost always allow errors to be found before your return is filed. Also you will then be able to receive your return by direct deposit. If you owe then you will also have the option to pay online immediately.

There are many tax credits offered by the state of New York that can help lower your tax liability. Some of the credits you do not want to miss are:

•Child Care Credit
•Higher Education Credit
•Earned Income Credit
•Household Credit
•Empire State Child Credit
•New York City Credit
•Real Property Tax Credit
The due date in the state of New York to file your state income tax return is April 15th. This is also the deadline to file an extension if needed.If you find you need to file an extension then you will need to fill out Form IT-370.

W4 Tax Calculator

Try using TurboTax Online this year. They offer all of the New York state income tax forms and offer easy step by step instructions.

TurboTax Online also offers state tax forms for all of the following states:

Alabama AL, Alaska AK, Arizona AZ, Arkansas AR, California CA, Colorado CO, Connecticut CT, Delaware DE, District of Columbia DC, Florida FL, Georgia GA, Hawaii H, Idaho ID, Illinois IL, Indiana IN, Iowa IA, Kansas KS, Kentucky KY, Louisiana LA, Maine ME, Maryland MD, Massachusetts MA, Michigan MI, Minnesota MN, Mississippi MS, Missouri MO

Federal Energy Tax Credits

Montana MT, Nebraska NE, Nevada NV, New Hampshire NH, New Jersey NJ, New Mexico NM, New York NY, North Carolina NC, North Dakota ND, Ohio OH, Oklahoma OK, Oregon OR, Pennsylvania PA, Rhode Island RI, South Carolina, South Dakota, Tennessee TN, Texas TX, Utah UT, Vermont VT, Virginia VA, Washington WA, West Virginia WV, Wisconsin WI, and Wyoming WY

 

The New York Department of Taxation and Finance has issued a corporate tax advisory opinion regarding P.L. 86-272. The department determined that because the taxpayer’s business within New York is limited exclusively to the sale of tangible personal property, and because the taxpayer’s use of third-party fulfillment services located in New York State falls under the exemption in Tax Law §209.2(f), the taxpayer qualifies for the P.L. 86-272 exemption and, therefore, is not subject to New York corporate franchise tax.

 The taxpayer sells gifts and awards to companies that wish to honor their employees. Many of the taxpayer’s products are personalized or customized in some way, such as casting, stamping, or laser engraving. The taxpayer has manufacturing facilities and inventory warehousing facilities located in North Carolina. Some of the gifts sold by the taxpayer are manufactured at its North Carolina factory. However, the taxpayer also sells other gifts that it acquires from third-party vendors. Some of these third-party vendors may be located in New York. The taxpayer uses sales representatives throughout the U.S., including some in New York, to solicit sales.

 The department opined that it appears that the taxpayer is not employing capital in New York, does not own or lease property in New York, and does not maintain an office in New York. Therefore, issue is whether the taxpayer is doing business in New York.

 The department noted that the taxpayer’s business appears to be limited to the sales of tangible personal property. Although some of the taxpayer’s orders may be filled by third-party vendors located within the state, this use of fulfillment services falls under the exemption so long as the taxpayer is not affiliated with any of the third-party vendors. The use of fulfillment services did not constitute doing business in New York.

 Therefore, the taxpayer’s activities fall within the scope of P.L. 86-272, and the taxpayer is exempt from New York corporate franchise tax.

TSB-A-11(10)C, New York Commissioner of Taxation and Finance, November 1, 2011, ¶407-416 

 Other References:

 Explanations at ¶10-075