CR-Q 2008-09 Commercial Rent Tax 2nd Quarter Return

Instructions for Form CR-Q2
New York City Department of Finance TM

Finance

Commercial Rent Tax Quarterly Return Applicable for the tax period September 1, 2008 to November 30, 2008, ONLY

HIGHLIGHTS OF NEW LEGISLATION (Ch. 2 of the Laws of 2005, Pt. A.)

Effective August 30, 2005, tenants located in the “World Trade Center Area”, as defined are exempt from the tax
(see Page 4 - Exemptions #5). The World Trade Center is defined as: the area in the borough of Manhattan
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bounded by Church Street on the east starting at the intersection of Liberty Street and Church Street; running
northerly along the center line of Church Street to the intersection of Church Street and Vesey Street; running west-
erly along the center line of Vesey Street to the intersection of Vesey Street and West Broadway; running northerly
along the center line of West Broadway to the intersection of West Broadway and Barclay Street; running west-
erly along the center line of Barclay Street to the intersection of Barclay Street and Washington Street; running
southerly along the center line of Washington Street to the intersection of Washington Street and Vesey Street; run-
ning westerly along the center line of Vesey Street to the intersection of Vesey Street and West Street; running
southerly along the center line of West Street to the intersection of West Street and Liberty Street; running easterly
along the center line of Liberty Street to the intersection of Liberty Street and Washington Street; running southerly
along the center line of Washington Street to the intersection of Washington Street and Albany Street; running
easterly along the center line of Albany Street to the intersection of Albany Street and Greenwich Street; running
northerly along the center line of Greenwich Street to Liberty Street; and running easterly along the center line of
Liberty Street to the intersection of Liberty Street and Church Street.
Effective August 30, 2005, the Commercial Rent Tax reduction program is expanded for those taxpayers
who are eligible for the Commercial Revitalization Program benefits to include more buildings and to pro-
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vide a greater base rent reduction as follows:
a. The new law expands the program to include buildings south of Canal Street that received their certificate
of occupancy after 1975.
b. The new law provides for a base rent reduction for the first five years of the lease equal to the lesser of the
first year’s rent or 100% of the rent paid for the period.
c. This expansion is available for leases, but not subleases, having a term of at least five years beginning be-
tween 7/1/2005 and 6/30/2009.
d. No base rent reduction is allowed under this program for tax periods beginning after 3/31/2013. The new
law did not change the expiration date.
e. For purposes of applying such special reduction, the base rent for the base year shall, where necessary to
determine the amount of the special reduction allowable with respect to any number of months falling
within a tax period, be prorated by dividing the base rent for the base year by twelve and multiplying the
result by such number of months.
As of December 1, 2005, the new law will also exempt the rent paid for premises used for retail sales pur-
poses (see Page 4 - Exemptions #6) where such premises are located in the Commercial Revitalization Pro-
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gram abatement zone, which is the area in the borough of Manhattan bounded by Murray Street on the North
starting at the intersection of West Street and Murray Street; running easterly along the center line of Murray
Street connecting through City Hall Park with the center line of Frankfort Street and running easterly along
the center lines of Frankfort and Dover Streets to the intersection of Dover Street and South Street; running
southerly along the center line of South Street to Peter Minuit Plaza; connecting through Peter Minuit Plaza
to the center line of State Street and running northwesterly along the center line of State Street to the intersection
of State Street and Battery Place; running westerly along the center line of Battery Place to the intersection of
Battery Place and West Street; and running northerly along the center line of West Street to the intersection of
West Street and Murray Street. Any tax lot partly located inside this area is deemed to be entirely located in-
side the area.

Instructions for Form CR-Q2 for the period of September 1, 2008 to November 30, 2008, ONLY Page 2
IMPORTANT G In computing base rent, rent ant must file a final return for the
INFORMATION received from subtenants may entire year (Form CR-A) within 20
be deducted by a prime ten- days from the date the tenant ceases
G Taxpayers whose annualized ant, regardless of the amount. to do business. If the tenant never-
base rent before the 35% rent theless continues to pay rent for the
G The Commercial Rent Tax
reduction and the NYC Com- taxable premises, in which case the
has been repealed with re- tenant must continue to file returns
mercial Revitalization Program
spect to rent paid for all and pay the tax.
special reduction is less than
premises located north of the
$250,000 are no longer subject
center line of 96th Street in If a tax return or payment is deliv-
to the Commercial Rent Tax.
Manhattan and the boroughs ered to the Department of Finance
However, a tax return may be
of the Bronx, Brooklyn, by U.S. mail after the due date, the
required to be filed.
Queens and Staten Island. date of the U.S. Postal Service post-
G A taxcredit is allowed for tax- mark stamped on the envelope will
payers whose annualized base be considered the date of delivery,
GENERAL
rent before the 35% rent re- provided the postmark date falls on
INFORMATION
duction and the NYC Com- or before the due date including any
mercial Revitalization Program extension and the return was de-
special reduction is at least FORMS TO BE USED AND posited in the mail, postage prepaid
$250,000, but is less than PERIODS COVERED and properly addressed. Non-U.S.
$300,000. The tax credit is cal- Every tenant subject to tax for a pe- Postal Service postmarks will also
culated on page 2, line 16. riod must file a quarterly return be recognized, provided delivery to
(Form CR-Q). Quarterly returns the Department of Finance occurs
GA tax return is no longer re-
are due for the three-month periods within five days of the postmark
quired to be filed with respect
ending on the last days of August, date. If the five-day limit is ex-
to any premises if your annual
November and February of each ceeded, the taxpayer must establish:
or annualized gross rent paid
tax year and must be filed within 20 a) the item was actually deposited
is $200,000 or less and you do
days after the end of the period they in the mail by the due date; b) the
not receive over $200,000 in
cover. delay in receipt was due to a delay
rent from any subtenant.
in the transmission of the mail; and
Every tenant subject to tax must c) the cause of the delay.
G A35% rent reduction is allowed
file an annual return on Form CR-
in computing base rent subject
A. In addition, every tenant not If the due date falls on a Saturday,
to Commercial Rent Tax.
subject to tax for periods beginning Sunday or legal holiday, the due
G The applicable tax rate for on or after June 1, 2001 because its date is extended to the next suc-
each taxable premises is based annualized base rent before the ceeding business day.
on the Base Rent Before Rent 35% rent reduction and the NYC
Reduction and the NYC Com- Commercial Revitalization Pro- For late filings of quarterly returns,
mercial Revitalization Pro- gram special reduction is less than interest must be paid on the amount
gram special reduction (lines 7 $250,000 (refer to Exemptions, of the underpayment from the due
and 5b, or line 12, if applica- below), will not be required to file date until the earlier of (1) 20 days
ble). However, that tax rate is an annual return (CR–A) if, with after the end of the tax year, or (2)
applied to the Base Rent Sub- respect to any premises, its an- the date as of which the tax paid for
ject to Tax (line 9) in determin- nual or annualized gross rent is the tax year equals 75% of the full
ing your tax for each taxable $200,000 or less, and it does not tax required to be paid for the tax
premises. If that amount is less receive over $200,000 in rent year. The interest must only be
than $250,000, no tax is due. If paid with the annual return.
from any subtenant.
that amount is at least $250,000
but less than $300,000, a tax If a tenant ceases to do business, the WHO IS A TENANT
credit is allowed. tax is due immediately, and the ten- A tenant is a person who pays or is


required to pay rent for premises as whole or in part to subtenants. Tax- constitutes rent paid for one taxable
a lessee, sublessee, licensee or con- able premises include a specific premises.
cessionaire. No tax return need be part of particular space in a ware-
WHAT CONSTITUTES
filed if the individual or the busi- house rented for the storage of
BASE RENT
ness entity is the same individual or goods, or in a garage, parking lot or
entity owning the premises. The parking area rented for the parking Base rent is generally the rent paid
tax form should be returned to the of motor vehicles, in connection for each taxable premises by a ten-
Department of Finance stating the with the tenant’s conduct of busi- ant to the landlord for a period, less
owner’s name and address, Em- ness or professional activity; also the amounts received by or due
ployer Identification Number or included is a safe deposit box or such tenant for the same period
Social Security Number, the ad- locker or beach cabana if used for from any subtenant of any part of
dress of the property and the block business purposes. the premises. (See instructions to
and lot number as shown on the line 4, Rent from Sub-tenant(s)).
WHAT CONSTITUTES RENT
real estate tax bill. Shareholders in
Where the base rent is for a period
cooperative corporations are not Rent is the consideration paid or re-
of less than one year it must be an-
considered “owners of record.” quired to be paid by a tenant for the
nualized. Base rent is annualized
use or occupancy of premises, valued
The following situations do not ex- by assuming it was paid on an
in money, whether received in money
empt the tenant from tax: equivalent basis for the entire year.
or otherwise, including all credits,
property, or services of any kind, as
a) where a building is owned, not by In computing base rent, rent re-
well as any payment required to be
a tenant but by a spouse or parent ceived from a subtenant subject to
made by a tenant on behalf of the
of the tenant; the tax or exempt from the tax be-
landlord for real estate taxes, water
cause the subtenant's annualized
b) where a building is owned by and sewer charges, or any other ex-
base rent is less than $250,000 for
the tenant jointly or in common penses (including insurance) nor-
period beginning on or after June 1,
with another person, other than mally payable by a landlord who
2001, and rent received from a sub-
a spouse; owns the realty, other than expenses
tenant that is a governmental entity,
for the improvement, repair or main-
c) where a building is owned by a the UN, or a nonprofit religious,
tenance of the tenant’s premises.
corporation of which the tenant charitable or educational entity ex-
is an officer or holder of all or empt from the tax may be deducted
Where the rent paid by a tenant for
part of the corporate stock; the occupancy of taxable premises is by a prime tenant.
measured in whole or in part by the
d) where the tenant is a corporation
gross receipts from the sales within NOTE: Base rent paid by a tenant
and the building is owned by a
the premises, the rent, for purposes of for one taxable premise cannot be
subsidiary corporation or by a
computing the Commercial Rent Tax reduced by deducting rents re-
parent corporation;
is the actual percentage of gross received by that tenant for another
ceipts due the landlord, but not in ex- taxable premise of which he is also
e) where the tenant is a corporation
a tenant.
and the building is owned by an cess of 15% of gross receipts.
officer or stockholder of the cor-
A tenant is also entitled to deduct
Tenant shareholders in cooperative
poration.
from the base rent amounts paid by
buildings should calculate the
the tenant for the tenant’s own use
amount of rent subject to tax as
WHAT CONSTITUTES
of the premises:
provided in Section 7-01 “Rent” of
TAXABLE PREMISES
Taxable premises are premises used the Commercial Rent Tax Rules. a) for railroad, air, or omnibus
or intended to be used to carry on (Title 19, Rules of the City of New transportation purposes;
any trade, business, professional, York, Chapter 7) If a tenant uses
vocational or commercial activity, two or more taxable locations in the b) for piers, insofar as they are
including premises used solely for same building at the same time, the used in interstate or foreign
the purpose of renting the same in total rent paid for all such locations commerce;


c) which are located in, on, above, 14 days or less (whether or not do not include insurance, banking
or under a public place and are consecutive) in a tax year, and or other types of services; and
defined by law as special fran- is not required to pay rent for a
7. various governmental bodies, the
chise property; longer period;
U.N., and nonprofit religious,
d) which are advertising space or 3. a tenant (other than the operator charitable and educational or-
signs, vending machines, or of a hotel, apartment hotel or ganizations. Other nonprofit or-
newsstands in subway or ele- lodging house) who uses prem- ganizations may be exempt from
vated railroad premises operated ises for residential renting to the tax. For more information,
by the New York City Transit others to the extent of 75% or see Sections 7-04 through 7-06
Authority when the rent is more of the rentable floor space; of the Commercial Rent Tax
payable to the Transit Authority; Rules. (Title 19, Rules of the
4. a tenant who uses premises for
or City of New York, Chapter 7)
certain dramatic or musical arts
performances for less than 4 COMBINED BUSINESS/
e) which is parking space subject to
weeks where the performances RESIDENTIAL USE
the additional 8% parking tax im-
are not intended to continue for Where a tenant pays an undivided
posed under Administrative Code
less than 4 weeks. A tenant who rent for a premises used both for
Section 11-2049.
uses taxable premises for the pro- residential and business purposes,
NOTE: Report these deductions on duction and performance of a the- the tax applies to that part of the
line 5a - Other Deductions and attach atrical work is exempt from the rent that is attributable to the part
a schedule. tax with respect to the rent paid of the premises used for business
for the taxable premises for a pe- purposes. In such a case, the rent
For a more detailed discussion of
riod not exceeding 52 weeks from attributable to business use is the
deductions in calculating base rent
the date production commenced. amount which the tenant deducts as
refer to Section 11-704 of the NYC
For purposes of this exemption, rent for the premises for federal in-
Administrative Code and Section
production will be considered to come tax purposes.
7-01 “Base Rent” of the Commer-
commence on the date public per-
cial Rent Tax Rules. (Title 19,
formances begin; WHEN AND WHERE TO FILE
Rules of the City of New York,
beginning August 30, 2005, ten- File your return within 20 days
Chapter 7.) 5.
ants in the World Trade Center after the end of the period cov-
Area, as defined in section 11- ered by this return. Interest will
EXEMPTIONS
704(6) of the NYC Ad. Code. be assessed after the filing of the
The following are exempt from
See “Highlights of New Legisla- annual return if this quarterly return
payment of the Commercial Rent
is filed late. The return should be
Tax: tion”;
mailed to:
1. a tenant whose annualized base 6. beginning December 1, 2005, for
retail sales purposes in the Com- NYC Department of Finance
rent before the 35% rent reduc-
mercial Revitalization Program P.O. Box 5150
tion and the NYC Commercial
abatement zone. See “Highlights Kingston, NY 12402-5150
Revitalization Program special
reduction (line 5b) is less than of New Legislation” and Admin-
$250,000 for period beginning on istrative Code §11-704(c)(9).
Premises used for retail purposes ELECTRONIC FILING
or after June 1, 2001. The annu-
alized base rent for a period of are premises used for the selling Note: Register for electronic fil-
less than one year is determined of tangible goods directly to the ing. It is an easy, secure and con-
as if the rent had been paid on an ultimate consumer. Administra- venient way to file and pay taxes
equivalent basis for an entire tive Code §11-701(c)(20). Tangi- on-line. For more information
ble goods include such things as log on to nyc.gov/nycefile
year;
food, clothing and appliances, but
2. a tenant who uses premises for


HOWTO COMPLETE LINE 2 - GROSS RENT PAID
wise represent you before the De-
QUARTERLYTAX FORM CR-Q1 partment. The authorization cannot Determine amount of gross rent paid
G Complete this return by begin- be revoked, however, the authori- for each premises and enter on this line
ning on page 2. zation will automatically expire no (Refer to “What Constitutes Rent”,
later than the due date (without re- page 2.) If you occupy more than one
Complete the entire schedule for gard to any extensions) for filing location within the same premises, the
each premises.
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next year's return. Failure to gross rent paid is considered the total
check the box will be deemed a of all rents paid in those premises. If
If you rent more than three
premises or have more than one denial of authority. your gross rent is based on a percentage
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of sales receipts, exclude the excess of
subtenant, attach an additional
15% of those receipts. If you rent an
schedule.
SPECIFIC entire apartment, hotel suite, or other
Preparer Authorization: If you accommodation that you use or occupy
INSTRUCTIONS
want to allow the Department of Fi- for commercial activities and claim as
nance to discuss your return with a business deduction, the full amount
PAGE 2 - Computation of Base
the paid preparer who signed it, you of the rent must be entered. If you pay
Rent
must check the quot;yesquot; box in the sig- a single rent to one lessor for two or
For purposes of completing this
nature area of the return. This au- more taxable premises, see section 7-
form round off cents to the near-
thorization applies only to the 01 “Allocation of single rent for two or
est whole dollar.
individual whose signature appears more taxable premises” of the Com-
in the quot;Preparer's Use Onlyquot; sec- mercial Rent Tax Rules (Title 19, Rules
LINE 1 - TAXABLE
tion of your return. It does not of the City of NewYork, Chapter 7) for
PREMISES
apply to the firm, if any, shown in the method to be used to allocate rent
Enter address, zip code and block
that section. By checking the quot;Yesquot; among the taxable premises.
and lot number of each taxable
box, you are authorizing the De-
LINE 3 - RESIDENTIAL RENT
premises where the annualized
partment of Finance to call the pre-
gross rent exceeds $200,000. To If you use your home for business and
parer to answer any questions that
find the block and lot number cor- residential purposes, enter here the
may arise during the processing of
responding to the taxable premises, amount of the rent attributable to resi-
your return. Also, you are author-
log on to the Department of Fi- dential use only. It is presumed that the
izing the preparer to:
nance website at www.nyc.gov/fi- amount you claimed as a business de-
Give the Department any infor- nance and mouse over the Real duction for rent on your federal income
mation missing from your re-
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Estate Tax (blue bar) drop down tax return is the amount of rent attrib-
turn, menu, click on “Assessment Roll” utable to business use of the premises.
and click on “Search by Address”.
Call the Department for infor-
LINE 4 - RENT FROM
Alternatively, the block and lot
mation about the processing of
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SUBTENANT(S)
number can be obtained from your
your return or the status of your
landlord or managing agent. If you Enter here amounts paid or due to you
refund or payment(s), and
have more than three such prem- as rent from any subtenant. In com-
Respond to certain notices that ises, make copies of page 2 or at- puting base rent, rent received from a
you have shared with the pre- tach a schedule giving the same subtenant subject to the tax or not sub-
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parer about math errors, offsets, information required by the form ject to tax because its annualized base
and return preparation. The no- showing figures and computations rent is less than $250,000 for period
tices will not be sent to the pre- clearly. Make sure the copies or the beginning on or after June 1, 2001, and
parer. schedule bear the taxpayer’s name, rent received from a subtenant that is a
address, period covered by the re- governmental entity, the UN, or a non-
You are not authorizing the pre- turn, Account ID Number, and Em- profit religious, charitable or educa-
parer to receive any refund check, ployer Identification Number or tional entity exempt from the tax, may
bind you to anything (including any Social Security Number. be deducted by a prime tenant.
additional tax liability), or other-


Also enter the subtenant’s name, and Commercial Rent Tax benefits special reduction for the base year is
Employer Identification Number with respect to qualifying leases of equal to the base rent and for all other
(for corporations or partnerships) or premises in the Title 4 abatement zone, 12 month periods is equal to the
Social Security Number (if a sole defined generally as the area in Man- lesser of the base rent for such
proprietorship). Note that such hattan bounded by Murray Street and twelve-month period or the base rent
rents may be deducted only from Frankfort Street on the north, and South
for the base year. see Administrative
the gross rent of the premises which Street, Battery Place and West Street on
Code §11-704.i.2.(b-2).
the subtenant occupies and may not the east, south and west, respectively.
be applied against any other prem- Effective for qualifying leases signed For more information concerning el-
ises rented by the taxpayer. between July 1, 2005 and June 30, igibility requirements under the
2009, the premises can be in eligible NYC Commercial Revitalization
If you have more than one sub- buildings located south of Canal Street. Program, please e-mail:
tenant, make copies of page 2 or at- Leases must be new, renewal or ex- nyc.gov/contactfinance
tach a schedule giving the same pansion leases with lease commence-
details as required on page 2. ment dates beginning on or after April
1, 1997 and must meet minimum lease SPECIAL NOTE FOR
In entering amounts paid by sub-
term and expenditure requirements. ELIGIBLE TAXPAYERS
tenants whose rent is based on a
Expanded benefits are available for The amount of the special reduc-
percentage of sales receipts, ex-
qualifying leases signed between July
clude the amount in excess of 15% tion available to eligible taxpayers
1, 2005 and June 30, 2009.
of those receipts. under the NYC Commercial Revi-
talization Program (line 5b) IS
Under the original program, for
Amounts received by a garage or NOT taken into account and must
leases with an initial lease term of at
parking lot operator for allowing the be added to the line 7 amount for
least three years but less than five
parking of a vehicle anywhere on his the following purposes:
premises is not deductible unless: years, the special reduction is avail-
G annualizing the base rent
able for up to 36 months. The reduc-
a) a particular space has been per-
(lines 10-12),
tion for the base year, i.e., the twelve
manently assigned for the ex-
G determining whether the tax-
month period commencing on the
clusive use of the tenant; and
payer is exempt because its
rent commencement date, is equal to
b) the vehicle is used for commer- base rent is below $250,000
the base rent. The special reduction
cial purposes by the tenant; and for periods beginning on or
for the two twelve month periods fol- after June 1, 2001 (see quot;EX-
c) a completed Certificate of As-
lowing the base year is equal to 2/3
signed Space Use has been EMPTIONSquot; on page 2 of
and 1/3, respectively, of the lesser of
taken from the tenant. these instructions),
the base rent for that 12 month period G determining the amount of
LINE 5a - OTHER DEDUCTIONS or the base rent for the base year. credit available (line 16), and
Where the lease is at least five years
Enter here any amounts included in G determining the applicable tax
long, the special reduction is avail-
gross rent allowable as deductions rate. However, once the appli-
cable rate is determined, enter
able for up to sixty months with a
for eligible taxpayers and detail such
the amount on line 9 (after the
similar decrease for the last two
deductions on an attached schedule.
special reduction) on line 13
twelve month periods of that period.
or 14, whichever is applicable.
LINE 5b - COMMERCIAL See Administrative Code §11-
REVITALIZATION PROGRAM 704.i.2.(b) and (b-1). Effective Au-
SPECIAL REDUCTION (SEE gust 30, 2005, for qualifying leases LINE 6 - TOTAL
HIGHLIGHTS OF NEW
(which do not include subleases) DEDUCTIONS
LEGISLATION)
Add lines 3 through 5b and enter
with an initial or renewal lease term
The NYC Commercial Revitalization
the total deductions in line 6.
of at least five years, signed between
Program provides both Real Estate Tax
July 1, 2005 and June 30, 2009, the

LINE 7 - BASE RENT LINES 13 AND 14 - RATE PAGE 1
BEFORE THE 35% CLASS Computation of Tax
RENT REDUCTION G If lines 10 through 12 are not ap-
LINE A - PAYMENT
Subtract line 6 from line 2 to obtain plicable, and if the sum of lines 7
Enter the amount of payment re-
the amount of your base rent before and 5b is $62,499 or less and rep-
mitted with this return in the space
the 35% rent reduction. resents rent for the full three-
provided.
month period, transfer the amount
Note: See highlighted NOTE on line 9 (not the amount on line
under line 9, Page 2 of the LINES 1 AND 2 -
7) to line 13. If the sum of lines 7
tax form. COMPUTATION OF TAX DUE
and 5b is $62,500 or more and
Enter the number of taxable premises
represents rent for the full three-
LINE 8 - 35% RENT youhaveoccupiedorusedduringthetax
month period, transfer the amount
REDUCTION period in the appropriate columns on
on line 9 (not the amount on line
Multiply line 7 by 35% and enter lines 1 and 2.
7) to line 14.
here.
Enter on lines 1 and 2, whichever ap-
G If lines 10 through 12 are appli-
plies, your base rent totals for all
LINE 9 - BASE RENT SUBJECT cable, and if the line 12 amount premises in each class calculated on
TO TAX is $62,499 or less, transfer the lines 13 and 14 from page 2. Multi-
Subtract line 8 from line 7 to obtain amount on line 9 (not the ply “total base rent” on line 2 by the
the amount of your base rent sub- amount on line 12) to line 13. tax rate of 6% and enter the result in
ject to tax. If the line 12 amount is $62,500 the column under “tax due.” This
or more, transfer the amount on amount should equal the total tax due
ANNUALIZATION OF BASE line 9 (not the amount on line before credit of all the premises of
RENT 12) to line 14. line 15 from page 2.
Complete lines 10 through 12 only
if the amount shown on line 7 does G Transfer the totals of lines 13 and
LINE 3 - TAX CREDIT
not represent rent paid for the full 14 to lines 1 and 2 respectively, Enter the total amount of tax credit
three-month period. page 1 of the form. of all the premises from line 16,
page 2.
LINE 10 - MONTHS AT LINE 15 - TAX DUE
PREMISES BEFORE CREDIT
LINE 4 - TOTAL REMIT-
Enter the dates (month and year) Multiply line 14 amounts by 6%
TANCE DUE
that occupancy or use of such and enter the result on line 15. This
Deduct line 3 from line 2. The re-
premises began and ended. Com- is your tax due before the tax credit.
sult will be the total remittance due
pute the number of months occu- The total of line 15 should equal
for the period. Make your check
pied or used to the nearest full the amount calculated as tax due on
payable to the order of:
month and enter. line 2, page 1 of the form.
NYC Department of Finance
LINE 11 - MONTHLY BASE LINE 16 - TAX CREDIT Enter the amount of payment remit-
RENT BEFORE RENT Compute your tax credit using the ted with this return on Line A in the
REDUCTION Tax Credit Computation Worksheet space provided.
Divide the sum of lines 7 and 5b by provided at the bottom of page 2 of
line 10 to arrive at the average monthly
the form and enter the result on line
base rent, before rent reduction. G Be sure that your name, EIN or
16. Transfer the total of line 16 to
line 3, page 1 of the form. SSN, and Account ID Number ap-
LINE 12 - QUARTERLY
pear on the face of the check.
BASE RENT
G Don’t forget to sign your return.
Multiply line 11 by 3 (months). This
is your quarterly base rent, before
rent reduction.


TAXPAYER ASSISTANCE used to facilitate the processing of
FOR COMMERCIAL RENT tax returns and to establish and
TAX ONLY maintain a uniform system for
If you have a Commercial Rent identifying taxpayers who are or
Tax-related question or problem, may be subject to taxes adminis-
please call (212) 232-1265/1267
tered and collected by the Depart-
Monday through Friday, between
ment of Finance. Such numbers
the hours of 9:00 a.m. and 5:00
may also be disclosed as part of in-
p.m. Hearing and speech impaired
formation contained in the tax-
customers can call our TTY num-
ber at (212) 504-4115. payer’s return to another
department, person, agency or en-
You can receive information or con- tity as may be required by law, or if
tact us by visiting the Department the taxpayer gives written authori-
of Finance’s Internet web site at
zation to the Department of Fi-
nyc.gov/finance
nance.
DID YOUR MAILING
ADDRESS CHANGE?
If so, please visit us at nyc.gov/fi-
nance 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 Infor-
mation”. Update as required.

PRIVACY ACT
NOTIFICATION
The Federal Privacy Act of 1974,
as amended, requires agencies re-
questing Social Security Numbers
to inform individuals from whom
they seek this information as to
whether compliance with the re-
quest is voluntary or mandatory,
why the request is being made and
how the information will be used.
The disclosure of Social Security
Numbers by taxpayers is manda-
tory and is required by section 11-
102.1 of the Administrative Code
of the City of New York. Disclo-
sure by subtenants is voluntary.
Such numbers disclosed on any re-
port or return are requested for tax
administration purposes and will be
CR-Q2 Instructions 2-Qtr 2008/2009

CR-Q 2008-09 Commercial Rent Tax 2nd Quarter Return

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CR-Q 2008-09 Commercial Rent Tax 2nd Quarter Return