In a bustling metropolis like New York City, the landscape of commercial rentals is constantly evolving. This evolution is mirrored in the complexities of the tax obligations imposed on these properties, particularly through the Annual Commercial Rent Tax Return (Form CR-A) for the tax period covering June 1, 2020, to May 31, 2021. This intricate document, crafted by the New York City Department of Finance, is pivotal for businesses leasing space within the city. It not only necessitates the reporting of the full year's rent or the annualized rent for periods shorter than a full year but also requires comprehensive information about the firm, including their Employer Identification Number and the specifics regarding the preparer of the form. The form categorizes businesses based on their structure—be it corporation, partnership, or an individual entity—and accounts for various scenarios like initial and final returns, illustrating the commencement or discontinuation of a business. Among its pages, the form intricately breaks down the computation of tax, including base rent rates, applicable tax credits, adjustments for small businesses, and reconciliations for overpayments or dues. Furthermore, it accommodates detailed information on premises, subtenants, and adjustments for commercial revitalization program special reductions, highlighting the city's effort to incentivize and support commercial tenants through intricate yet beneficial tax mechanisms. Addressed to both paper filers and those preferring electronic submission, this form encapsulates the intricate dance between governmental fiscal requirements and the operational realities of NYC's commercial tenants.
Question | Answer |
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Form Name | Nyc Commercial Rents Tax Return Form |
Form Length | 3 pages |
Fillable? | No |
Fillable fields | 0 |
Avg. time to fill out | 45 sec |
Other names | nyc cr a fillable form, nyc commercial rent tax cr q1 2019 20, nyc commercial rent tax form 2018, commercial rent tax pdf |
*20012191*
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NEW YORK CITY DEPARTMENT OF FINANCE |
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A N N U A L |
COMMERCIAL RENT TAX RETURN |
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2020/21 |
ApplicableforthetaxperiodJune1,2020toMay31,2021ONLY |
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nyc.gov/finance |
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Name: |
Employer Identification Number |
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ChangeName |
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Address (number and street): |
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Social Security Number |
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ChangeAddress |
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City and State: |
Zip: |
Country (if not US): |
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Federal Business Code |
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Business Telephone Number: |
Taxpayer’s Email Address: |
Special Condition Code |
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Amended Return |
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REPORT FULL YEAR’S RENT OR THE ANNUALIZED RENT IF LESS THAN FULL YEAR ON THIS RETURN. COMPLETE PAGES 2 AND 3 FIRST.
CHECK (✓)THE TYPE OF BUSINESS ENTITY: |
● ■Corporation |
● ■ Partnership |
● ■ Individual, estate or trust |
CHECK (✓)IF APPLICABLE:
■Initial return - Date business began:
● ■Final return - Date business discontinued:
COMPUTATION OF TAX
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▼ Payment ▼ |
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A. Payment - |
Amount being paid electronically with this return |
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A. |
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LINE |
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RATE |
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NO. OF PREMISES |
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TOTAL |
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TAX |
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TAX DUE: |
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CLASS |
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FOR EACH RATE CLASS |
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BASE RENT |
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RATE |
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TOTAL BASE RENT X TAX RATE |
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$0 to $249,999 |
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(from line 13 on pg. 2 or |
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0% |
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1. |
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supplemental spreadsheet) |
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0 |
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$250,000 and over |
(from line 14 on pg. 2 or |
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6% |
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● 2. |
supplemental spreadsheet) |
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3. |
Tax Credit (from pg. 2, line 16 or supplemental spreadsheet) (see instructions) |
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4. |
Small Business Tax Credit (from pg. 2, line 17, or supplemental spreadsheet) (see instructions)... |
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5. |
Total Credits (add lines 3 and line 4) |
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● 5. |
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6. |
Total Tax DueAfter Tax Credit(line 2 minus line 5) |
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7. |
Deduct total quarterly payments |
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● 7. |
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8. |
Balance Due (if line 7 is less than line 6) |
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● 8. |
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9. |
Add interest and penalties (See instructions) |
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............................. |
REFUND ☞ |
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10. |
Overpayment (if line 7 is greater than the sum of line 6 and line 9) |
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11. |
Total Remittance Due (Add line 8 and line 9) (see instr.) Enter payment amount on lineA, above.. |
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12. |
Total number of Subtenants |
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12. |
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13.If you are a member of a NYC combined group, enter the EIN of the designated agent or reporting corporation filing the business income tax return .............................
CERTIFICATION
I hereby certify that this return, including any accompanying schedules, has been examined by me and is, to the best of my knowledge and belief, true, correct and complete. I also request a refund of the amount of any overpayment of the tax shown on line 8, if any, as is attributable to the inclusion in base rent reported on line 2 of page 1 of this return of NYC Real Property Tax escalations for which, and at such time as, the taxpayer receives a credit or refund from the lessor of taxable premises covered by this re- turn and I agree to submit such information as is necessary to establish the amount of such overpayment.
I authorize the Dept. of Finance to discuss the processing of this return with the preparer listed below: (see instructions) YES ■
HERESIGN |
Signature |
→ of officer |
Preparer's PREPARER'S signature:
USE →
ONLY
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Title |
Date |
Preparer’s |
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printed name: |
Date |
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Check if
▲ Firm's name |
▲ Address |
▲ Zip Code |
Make remittance payable to the order of: NYC DEPARTMENT OF FINANCE Payment must be made in U.S. dollars, drawn on a U.S. bank.
Toreceivepropercredit,youmustenteryourcorrectEmployerIdentificationNumberorSocialSecurityNumberandyourAccountIDnumberonyourtaxreturnandremittance.
RETURNS (FORM ONLY)
NYC DEPARTMENT OF FINANCE
P.O. BOX 5564
BINGHAMTON, NY
REMITTANCES
PAY ONLINE WITH FORM
OR
Mail Payment and Form
NYC DEPARTMENT OF FINANCE
P.O. BOX 3933, NEW YORK, NY
RETURNS CLAIMING REFUNDS (FORM ONLY)
NYC DEPARTMENT OF FINANCE
P.O. BOX 5563
BINGHAMTON, NY
DID YOUR MAILING ADDRESS CHANGE? If so, please visit us at nyc.gov/finance and click “Update Name and Address” in the blue “Business Taxes” box. This will bring you to the “Business Taxes Change of Name, Address or Account Information”. Update as required.
20012191
Form |
Page 2 |
YOU MAY FILE ELECTRONICALLY AT NYC.GOV/ESERVICES. IF YOU ARE FILING ON PAPER, USE THIS PAGE IF YOU HAVE THREE OR LESS PREM- ISES/SUBTENANTS OR MAKE COPIES OF THIS PAGE IF YOU HAVE ADDITIONAL PREMISES/SUBTENANTS. IF YOU CHOOSE TO USE A SPREADSHEET, YOU MUST USE THE CRA.FINANCE SUPPLEMENTAL SPREADSHEET WHICH YOU CAN DOWNLOAD FROM OUR WEBSITE AT WWW.NYC.GOV/CRTINFO.
EACH LINE MUST BE ACCURATELY COMPLETED. YOUR DEDUCTION WILL BE DISALLOWED IF INACCURATE INFORMATION IS SUBMITTED.
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DESCRIPTION |
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PREMISES 1 |
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PREMISES 2 |
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PREMISES 3 |
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● 1a. |
Street Address |
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1a. |
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1b. |
Zip Code |
1b. ________________________________________________________________________________________ |
1c/d. Block and Lot Number ...............................................1c/1d. ________________________________________________________________________________________ |
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1c. BLOCK |
1d. LOT |
1c. BLOCK |
1d. LOT |
1c. BLOCK |
1d. LOT |
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Gross Rent Paid (see instructions) |
2. |
________________________________________________________________________________________ |
3. |
Rent Applied to Residential Use |
3. |
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4a1. |
SUBTENANT'S NameifPartnershiporCorporation |
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(if more than one subtenant, see instructions) |
4a1. |
________________________________________________________________________________________ |
●4a2. Employer Identification Number (EIN) for
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partnerships or corporations |
4a2. |
● EIN ________________________ ● EIN ________________________ ● EIN _______________________ |
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4b1. |
SUBTENANT'S NameifIndividual |
4b1. |
________________________________________________________________________________________ |
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4b2. |
Social Security Number (SSN) for individuals |
4b2. |
● SSN _______________________ ● SSN _______________________ ● SSN _______________________ |
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4c. |
RentreceivedfromSUBTENANT |
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(if more than one subtenant, see instructions) |
4c. |
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4d1. |
Is this rent paid for a period less than 12 months? .. |
4d1. |
YES ■ |
NO ■ |
YES ■ |
NO ■ |
YES ■ |
NO ■ |
4d2. |
If YES, how many months? |
4d2. |
Total number of months:_______________ |
Total number of months:_______________ |
Total number of months:_______________ |
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5a. |
Other Deductions (attach schedule) |
5a. |
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5b. |
Commercial Revitalization Program |
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special reduction (see instructions) |
5b. |
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6. |
Total Deductions (add lines 3, 4c, 5a and 5b) |
6. |
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7.Base Rent Before Rent Reduction (line 2 minus line 6)...7. ________________________________________________________________________________________
4If the line 7 amount represents rent for less than the full year, proceed to line 10, or
NOTE 4If the line 7 amount plus the line 5b amount is $249,999 or less and represents rent for a full year, transfer line 9 to line 13, or 4If the line 7 amount plus the line 5b amount is $250,000 or more and represents rent for a full year, transfer line 9 to line 14
8. |
35% Rent Reduction (35% X line 7) |
8. |
________________________________________________________________________________________ |
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9. |
Base Rent Subject to Tax (line 7 minus line 8) |
9. |
________________________________________________________________________________________ |
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COMPLETE LINES 10 THROUGH 12 ONLY IF YOU RENTED PREMISES FOR LESS THAN THE FULL YEAR |
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10. |
Tenants whose rent is not paid on a monthly basis, check box |
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and see instructions. Others complete lines 10a through12. ... |
10. |
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10a. |
Number of Months at Premises during the tax period |
10a. # of months |
10b. From: |
10a. # of months |
10b. From: |
10a. # of months |
10b. From: |
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10c. To: |
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10c. To: |
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10c. To: |
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11.Monthly Base Rent before rent reduction
(line 7 plus line 5b divided by line 10a) |
11. ________________________________________________________________________________________ |
12.Annualized Base Rent before rent reduction
(line 11 X 12 months or line 4 from worksheet on page 3) .12. ________________________________________________________________________________________
■If the line 12 amount is $249,999 or less, transfer the line 9 amount (not the line 12 amount) to line 13
■If the line 12 amount is $250,000 or more, transfer the line 9 amount (not the line 12 amount) to line 14
*20022191*
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RATE CLASS |
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TAX RATE |
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TRANSFER THE AMOUNTS FROM LINES 13 THROUGH 16 TO THE CORRESPONDING LINES ON PAGE 1 |
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13.($0 - 249,999) .........0%.......13.________________________________________________________________________________________
14.($250,000 or more)... 6%.......14.________________________________________________________________________________________
15.Tax Due before credit
(line 14 multiplied by 6%) ........15.________________________________________________________________________________________
16.Tax Credit (see worksheet below) .16.________________________________________________________________________________________
17.Small Business Tax Credit (from pg. 3, or supplemental
spreadsheet) (see instructions)....17.________________________________________________________________________________________
Note: The tax credit only applies if line 7 plus line 5b (or line 12, if applicable) is at least $250,000, but is less than $300,000. All others enter zero.
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TAX CREDIT COMPUTATION WORKSHEET |
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■ If the line 7 amount represents rent for the full 12 month period, your credit is calculated as follows: |
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Amount on line 15 |
X ($300,000 minus the sum of lines 7 and 5b) = ___________________= your credit |
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$50,000 |
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■ If the line 7 amount represents rent for less than the full 12 month period, your credit is calculated as follows: |
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20022191 |
Amount on line 15 |
X ($300,000 minus line 12) = ___________________ = your credit |
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$50,000 |
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Form |
Page 3 |
IF YOU ARE FILING ON PAPER, USE THIS PAGE IF YOU HAVE THREE OR LESS PREMISES OR MAKE COPIES IF YOU HAVE ADDITIONAL PREMISES. IF YOU CHOOSE TO USE A SPREADSHEET, YOU MUST USE THE SUPPLEMENTAL SMALL BUSI- NESS TAX CREDIT WORKSHEET WHICH YOU CAN DOWNLOAD FROM OUR WEBSITE AT WWW.NYC.GOV/CRTINFO.
TO QUALIFY FOR SMALL BUSINESS TAX CREDIT
A. Is your "total income" as defined by Ad. Code Section |
■ YES |
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If your answer to Question A is NO, you are not eligible for this credit. |
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B. Is your "Base Rent Before Rent Reduction" (page 2, line 7) for any premises at least $250,000 but less than $550,000?...... ■ YES ■ NO
If the answer to this Question is NO for any of the premises, you are not eligible for this credit for those premises whose Base Rent
BeforeReductioniseitherlessthan$250,000 orequaltoorgreaterthan$550,000 andyoushouldnotcompletethisworksheetforthosepremises.
INCOME FACTOR CALCULATIONS - Complete either lines 1a and 1b OR lines 2a and 2b |
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1a. Enter amount of total income, if total income is $5,000,000 or less (see instructions) |
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1b. Income factor (see instructions) |
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1b. |
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2a. Enter amount of total income if total income is more than $5,000,000 |
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but less than $10,000,000 (see instructions) |
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2a. |
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2b. If total income is more than $5,000,000 but less than $10,000,000: |
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Income Factor is (10,000,000 - line 2a) / 5,000,000 |
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2b. |
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RENT FACTOR CALCULATIONS - Complete either lines 3a and 3b OR lines 4a and 4b |
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3a. Enter amount of base rent, if base |
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PREMISES |
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PREMISES |
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PREMISES |
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rent from Page 2, line 7 is less |
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than $500,000 |
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3a. |
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3b. Rent factor (see instructions) |
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4a. Enter amount of base rent if base rent |
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from Page 2, line 7 is at least |
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$500,000 but less than $550,000 |
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(see instructions) |
4a. |
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4b. If base rent from Page 2, line 7 is at least |
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$500,000 but less than $550,000: |
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Rent Factor is ($550,000 - line 4a) / 50,000 |
4b. |
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CREDIT CALCULATION |
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5a. Page 2, line 15 (Tax at 6%) |
5a. |
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5b. Page 2, line 16 (Tax Credit from Tax |
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Credit Computation Worksheet on Page 2) |
5b. |
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5c. (line 5a - line 5b) X (line 1b or 2b) X (line 3b or 4b). |
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Enter here and on Page 2, line 17 |
5c. |
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WORKSHEET FOR TENANTS WHO PAY RENT FOR A PERIOD OTHER THAN ONE MONTH |
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To determine the annualized rent, divide the rent paid during the tax period by the number of days for which the rent was paid and multiply |
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the result by the number of days in the tax year. Enter the result on line 4 here and on Form |
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PREMISES |
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PREMISES |
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PREMISES |
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*20032191* |
1. Amount of rent paid |
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for the period ................... 1. |
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2. Number of days in the |
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rental period for which |
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rent was paid................... 2. |
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3. Rent per day (divide |
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line 1 by line 2. Round to |
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the nearest whole dollar). 3. |
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4. Annualized rent (multiply |
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rent per day, line 3 |
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by 365. In case of a leap |
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year, multiply by 366. |
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Round to the nearest |
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whole dollar).................... 4. |
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20032191 |
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