Nyc Commercial Rents Tax Return Form PDF Details

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.

QuestionAnswer
Form NameNyc Commercial Rents Tax Return Form
Form Length3 pages
Fillable?No
Fillable fields0
Avg. time to fill out45 sec
Other namesnyc cr a fillable form, nyc commercial rent tax cr q1 2019 20, nyc commercial rent tax form 2018, commercial rent tax pdf

Form Preview Example

Firm's Employer Identification Number
Preparer's Telephone Number
Preparer's Social Security Number or PTIN

*20012191*

 

 

CR-A

NEW YORK CITY DEPARTMENT OF FINANCE

 

 

A N N U A L

COMMERCIAL RENT TAX RETURN

 

 

2020/21

ApplicableforthetaxperiodJune1,2020toMay31,2021ONLY

 

nyc.gov/finance

 

 

 

 

Name:

Employer Identification Number

ChangeName

Address (number and street):

OR

Social Security Number

ChangeAddress

City and State:

Zip:

Country (if not US):

 

Federal Business Code

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Business Telephone Number:

Taxpayer’s Email Address:

Special Condition Code

■■

 

 

 

 

 

 

Amended Return

 

 

 

 

 

 

 

 

 

 

 

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

■■-■■-■■■■

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment

 

 

A. Payment -

Amount being paid electronically with this return

 

A.

 

 

 

 

LINE

 

RATE

 

NO. OF PREMISES

 

TOTAL

 

TAX

 

 

 

TAX DUE:

 

CLASS

 

FOR EACH RATE CLASS

 

BASE RENT

 

RATE

 

 

TOTAL BASE RENT X TAX RATE

 

$0 to $249,999

 

(from line 13 on pg. 2 or

 

 

 

 

.00

0%

 

1.

 

 

 

 

1.

 

supplemental spreadsheet)

 

 

 

 

 

0

0 0

 

$250,000 and over

(from line 14 on pg. 2 or

 

 

 

 

.00

6%

2.

 

 

 

 

2.

supplemental spreadsheet)

 

 

 

 

 

 

 

 

3.

Tax Credit (from pg. 2, line 16 or supplemental spreadsheet) (see instructions)

 

 

3.

 

 

 

 

 

 

 

 

 

 

4.

Small Business Tax Credit (from pg. 2, line 17, or supplemental spreadsheet) (see instructions)...

4.

 

 

 

 

5.

Total Credits (add lines 3 and line 4)

 

 

 

 

5.

 

 

 

 

6.

Total Tax DueAfter Tax Credit(line 2 minus line 5)

 

 

 

6.

 

 

 

 

 

 

 

 

 

 

 

7.

Deduct total quarterly payments

 

 

 

 

 

7.

 

 

 

 

8.

Balance Due (if line 7 is less than line 6)

 

 

 

 

 

8.

 

 

 

 

.........................................................................................

 

 

 

 

 

 

 

 

 

 

9.

Add interest and penalties (See instructions)

 

 

 

9.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

.............................

REFUND

 

 

 

 

 

10.

Overpayment (if line 7 is greater than the sum of line 6 and line 9)

 

10.

 

 

 

 

11.

Total Remittance Due (Add line 8 and line 9) (see instr.) Enter payment amount on lineA, above..

11.

 

 

 

 

12.

Total number of Subtenants

 

 

 

 

 

12.

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

Title

Date

Preparer’s

 

printed name:

Date

 

 

 

Check if self-employed:

▲ 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 13902-5564

REMITTANCES

PAY ONLINE WITH FORM NYC-200V AT NYC.GOV/FINANCE

OR

Mail Payment and Form NYC-200V ONLY to:

NYC DEPARTMENT OF FINANCE

P.O. BOX 3933, NEW YORK, NY 10008-3933

RETURNS CLAIMING REFUNDS (FORM ONLY)

NYC DEPARTMENT OF FINANCE

P.O. BOX 5563

BINGHAMTON, NY 13902-5563

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 CR-A for the tax period June 1, 2020 to May 31, 2021 ONLY

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.

 

LINE

 

 

DESCRIPTION

 

 

PREMISES 1

 

PREMISES 2

 

PREMISES 3

 

 

 

 

 

 

 

 

 

 

 

1a.

Street Address

................................................................

1a.

 

 

 

 

 

 

1b.

Zip Code

1b. ________________________________________________________________________________________

1c/d. Block and Lot Number ...............................................1c/1d. ________________________________________________________________________________________

1c. BLOCK

1d. LOT

1c. BLOCK

1d. LOT

1c. BLOCK

1d. LOT

2.

Gross Rent Paid (see instructions)

2.

________________________________________________________________________________________

3.

Rent Applied to Residential Use

3.

________________________________________________________________________________________

4a1.

SUBTENANT'S NameifPartnershiporCorporation

 

 

 

(if more than one subtenant, see instructions)

4a1.

________________________________________________________________________________________

4a2. Employer Identification Number (EIN) for

 

partnerships or corporations

4a2.

EIN ________________________ EIN ________________________ EIN _______________________

4b1.

SUBTENANT'S NameifIndividual

4b1.

________________________________________________________________________________________

4b2.

Social Security Number (SSN) for individuals

4b2.

SSN _______________________ SSN _______________________ SSN _______________________

4c.

RentreceivedfromSUBTENANT

 

 

 

 

 

 

 

 

(if more than one subtenant, see instructions)

4c.

___________________________________________________________________________________________________

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:_______________

5a.

Other Deductions (attach schedule)

5a.

________________________________________________________________________________________

5b.

Commercial Revitalization Program

 

 

 

 

 

 

 

 

special reduction (see instructions)

5b.

________________________________________________________________________________________

6.

Total Deductions (add lines 3, 4c, 5a and 5b)

6.

________________________________________________________________________________________

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.

________________________________________________________________________________________

9.

Base Rent Subject to Tax (line 7 minus line 8)

9.

________________________________________________________________________________________

 

 

 

 

 

 

 

 

 

 

 

COMPLETE LINES 10 THROUGH 12 ONLY IF YOU RENTED PREMISES FOR LESS THAN THE FULL YEAR

10.

Tenants whose rent is not paid on a monthly basis, check box

 

 

and see instructions. Others complete lines 10a through12. ...

10.

__________________________________________________________________________________________

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:

 

 

 

 

10c. To:

 

10c. To:

 

 

10c. To:

 

 

 

 

_________________________________________________________________________________________________________________

 

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*

 

RATE CLASS

 

TAX RATE

 

TRANSFER THE AMOUNTS FROM LINES 13 THROUGH 16 TO THE CORRESPONDING LINES ON PAGE 1

 

 

 

 

 

 

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.

 

 

TAX CREDIT COMPUTATION WORKSHEET

 

If the line 7 amount represents rent for the full 12 month period, your credit is calculated as follows:

 

Amount on line 15

X ($300,000 minus the sum of lines 7 and 5b) = ___________________= your credit

 

 

$50,000

 

If the line 7 amount represents rent for less than the full 12 month period, your credit is calculated as follows:

20022191

Amount on line 15

X ($300,000 minus line 12) = ___________________ = your credit

 

 

 

$50,000

 

 

 

Form CR-A for the tax period June 1, 2020 to May 31, 2021 ONLY

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 11-704.4(a) less than $10,000,000?

YES

NO

If your answer to Question A is NO, you are not eligible for this credit.

 

 

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

1a. Enter amount of total income, if total income is $5,000,000 or less (see instructions)

 

1a.

______________________________________

1b. Income factor (see instructions)

 

 

 

 

 

 

1b.

______________________________________

2a. Enter amount of total income if total income is more than $5,000,000

 

 

 

 

 

 

 

 

 

but less than $10,000,000 (see instructions)

 

 

 

 

 

 

2a.

______________________________________

2b. If total income is more than $5,000,000 but less than $10,000,000:

 

 

 

 

 

 

 

 

 

Income Factor is (10,000,000 - line 2a) / 5,000,000

 

2b.

______________________________________

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

RENT FACTOR CALCULATIONS - Complete either lines 3a and 3b OR lines 4a and 4b

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3a. Enter amount of base rent, if base

 

PREMISES

 

 

 

 

PREMISES

 

 

 

 

PREMISES

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

rent from Page 2, line 7 is less

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

than $500,000

 

3a.

_________________________________________________________________________________________

3b. Rent factor (see instructions)

3b.

_________________________________________________________________________________________

4a. Enter amount of base rent if base rent

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

from Page 2, line 7 is at least

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$500,000 but less than $550,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(see instructions)

4a.

_________________________________________________________________________________________

4b. If base rent from Page 2, line 7 is at least

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$500,000 but less than $550,000:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Rent Factor is ($550,000 - line 4a) / 50,000

4b.

_________________________________________________________________________________________

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CREDIT CALCULATION

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

5a. Page 2, line 15 (Tax at 6%)

5a.

_________________________________________________________________________________________

5b. Page 2, line 16 (Tax Credit from Tax

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Credit Computation Worksheet on Page 2)

5b.

_________________________________________________________________________________________

5c. (line 5a - line 5b) X (line 1b or 2b) X (line 3b or 4b).

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Enter here and on Page 2, line 17

5c.

_________________________________________________________________________________________

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

WORKSHEET FOR TENANTS WHO PAY RENT FOR A PERIOD OTHER THAN ONE MONTH

 

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

 

the result by the number of days in the tax year. Enter the result on line 4 here and on Form NYC-CRA, Page 2, line 12.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

PREMISES

 

 

PREMISES

 

 

 

 

PREMISES

 

*20032191*

1. Amount of rent paid

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

for the period ................... 1.

_____________________________________________________________________________________

 

2. Number of days in the

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

rental period for which

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

rent was paid................... 2.

_____________________________________________________________________________________

 

3. Rent per day (divide

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

line 1 by line 2. Round to

 

 

 

 

 

 

 

 

 

 

 

the nearest whole dollar). 3.

_____________________________________________________________________________________

 

4. Annualized rent (multiply

 

 

 

 

 

 

 

 

 

 

 

rent per day, line 3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

by 365. In case of a leap

 

 

 

 

 

 

 

 

 

 

 

year, multiply by 366.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Round to the nearest

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

whole dollar).................... 4.

_____________________________________________________________________________________

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

20032191

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CR-A 2020/21