DCarsonCPA.com NYC Borough Lines

DCarsonCPA Decision Lines

2018-11-04T17:29:00.000-08:00

DCarsonCPA Decision Lines:

Decision Lines on the Economy and Financials

https://paper.li/f-1317347116#/

Our Domestic #Economist and #Analyst lines with the #CoreFinancials and The #AbstractValue to #ValueinContext to help on the #EPCLines of #entity #policy and #community needs through financials to the seen and foreseeable users of Financial Decision Making Information. A support line to #Shareholder AND #SocietalStakeholder needs. #CFO #PM #BA #Analyst

We built Our Line from the Foundation in 2010 from the back bone structure of more than 16 years in Audit through CFO, Controlling and Lean Management Consulting in support of Fortune 500, FTSE 100. DAX and SME, SMB lines including NYC Comptrollers Office Volunteer experience working on the City Charter and Code lines for the #CommercialRentTax . What a great line of experience has been ours over the last more than 8 years working with advanced skills on cross functional Economist, Risk, Actuarial, Analyst, Financial, Legal, Technology and Social Research to better help Entity, Policy and Community Decision Makers from various roles to do more with the value that runs through financials and logistics supported by accounting and analysis, financials, reporting, regulatory compliance, technology, communications and other key points to needs. While we work to back full the more commonly and readily understandable lines of an MA in Economics, MS in Quant and a JD in Law as funds and opportunities avail, we work with a rare set of cross functional skills that speak to the potential of Boards, Directors, Senior Executives, Management, Staff, Policy and Community lines to work better together with financials in a more long term horizon to needs for sustainable growth with logistics and risk management support. Our evolved Framework to a Legal Economist and Engineers line to help on the Economy and Policy to help reach the needs of Citizen Stakeholders and Communities with continual improvements.

Management Consultants are the last hired first fired line of excess staffing in the Economy and Financials and that has been a line that has brought us to the height of heights and the Depth of Vallleys in the Economy and Financials an experience which has only expanded our range to help you face the challenges and the needs on Entity Governance #GRC #Compliance #RiskManagement and relevant needs for Entity,Policy and Community Stakeholders on Monetary and X Factor Societal Value Chains. During the Construction of the DCarsonCPA lines many generous Economists, Librarians, Policy Making support lines, Regulators,Non Profit, NGO,Industry,Attorney, Legal, Engineering and other lines were kind in helping us to learn and grow as they understood Our Long Goal to help on the Economy, the Connection of Legal and Policy to underlying Financials, and overall Economist, Analyst, Financial, Legal, Technology and Teamwork lines to help on Entity and Cross Sector needs in the Economy and Financials . One Drop of Rain to a Bucket of murky water added to additional drops of rain leads to the cleansing of an Eco System to rational improvements to help on Decision Making in strong #GRC and #ITGRC frameworks that serve as the middle link from Policy to Favorable and Desired including X Factor Societal Outcomes for improvements on #ExceptionalTeamwork to help on Domestic and Allied lines for improvements. Across the model of Local,Regional, State, Multi-State,National to Global Decision Making in the Aggregate where the complexity is to manage for needs on#EGALBO and for reasonable support to Our Friends to the line of Freedom and Liberty, A historical line from the foundation of Freedom and Liberty to the Legacy of Trust that we have inherited in common and must work together to preserve for present and forward generations with pursuit of a compelling line to help #innovation with #innovationstewardship to the sustainable lines of community needs on #jobs #opportunities and #partcipation lines for #communities. We build with #GRLSTEM and when the #Economists told us to #BuildaModel we took it to heart to prepare for workflows with #DSGEModels and #ModelFRB to a next level Macro Model of cross functional analysis and while we have much to prove and much yet to learn we submit that as far as #Legal #Economists go we bring something very special and unique to help on the Line, Staff and Community points of needs where in this #knowledgeage we build for both entity and Societal Improvements in the Aggregate.

#DCarsonCPANET go forward lines next gen #DCarsonCPA. We can help on Services, Applied Research and Outreach to help empower your role as a CEO, CFO, CIO, COO, CRO, CAO, CLO, CISO, CSO or other key team member, as a director and board member and / or as and Executive, Legislative or Judicial Branch Decision Maker in the Aggregate with a line out on Advisory to work on both entity and team member growth and renewal to a core model of #GRLSTEM

NYC Empire Lines Daily Lines on the NYC and NYS Economy and Financials

2018-10-24T12:47:00.001-07:00

NYC Empire Lines Daily Lines on the NYC and NYS Economy and Financials

#DCarsonCPA #NYC #EmpireLines https://t.co/kaFz4wRKQp #NYC #Economist #Analyst #EconomicRsearch #SocialResearch #DCarsonCPAEmpireLines pic.twitter.com/id59WmtUKy
— Dean Carson CPA (@DCarsonCPA_NYC) October 24, 2018

Related Lines on Project support at www.dcarsoncpa.com

DCarsonCPA Tax Services

2018-10-24T12:21:00.000-07:00

DCarsonCPA Tax Services

DCarsonCPA Empire Lines https://t.co/CDzOjCePqk and Borough Lines https://t.co/Qg0xeOumbR and main https://t.co/B7xJMhOSGe #economist #analyst #CFO #PM #BA #STEM #DCarsonCPA pic.twitter.com/2CWp0P8Keu
— Dean Carson CPA (@DCarsonCPA_NYC) October 24, 2018

DCarsonCPA Tax Services at www.dcarsoncpa.com

DCarsonCPA Empire Lines and Borough Lines

2018-10-24T11:57:00.001-07:00

DCarsonCPA Empire Lines Presents Borough Lines:

An NYC state of the Line, Staff and Community needs in the Economy and Financials since 2010:

DCarsonCPA Empire Lines https://t.co/CDzOjCePqk and Borough Lines https://t.co/Qg0xeOumbR and main https://t.co/B7xJMhOSGe #economist #analyst #CFO #PM #BA #STEM #DCarsonCPA pic.twitter.com/2CWp0P8Keu
— Dean Carson CPA (@DCarsonCPA_NYC) October 24, 2018

Direct to Services, Applied Research and Outreach support for Industry, Non Profit, NGO, Government, Individual, Family and Community support services lines at www.dcarsoncpa.com

DCarsonCPA Catching Up at 2018

2018-10-24T11:26:00.000-07:00

DCarsonCPA Catching Up at 2018:

This line is one of Many Lines from DCarsonCPA and our original framework on support to CPA Accounting Services, Taxation, Financials, Compliance and Advisory from NYC. From the line of Education at Pace University and Volunteer work with NYC Comptroller's Office During the Giulliani Administrations earliest days and observing the transition in NYC Government while supporting an Audit Team on the NYC Commercial Rent Tax (CRT) at which time we were fortunate to meet and work with some fine and dedicated professionals including a former GAO and OMB SES staff member and director of Education Services and a team of dedicated Government Auditors at the same time as we were studying Governmental Fund Accounting , and following books on choices to the various lines of Careers in Accounting across Government, Industry, Non Profit and Community lines and equally pursuing a path to Harvard Kennedy School of Government or the NYU School for Public Administration for better or worse going to an Industry Career path from there in Financial and Service Sector Lines but never losing a value in context to Public Service and seeking to help on needs. A path which comes from a family line of the Dutch of New Amsterdam and multiple generations of Defense, National Guard and Community Service most recently to the lines of an NYC Fireman and an NYC Math Teacher 2 generations back who were strong to the lines of a commitment to service and community with the experiences on their lines of saving lives and empowering lives to work with Math. We can understand more clearly now in retrospect that with strong Family Lines to Brooklyn and the Bronx that the City has always been a part of Our Foundational DNA and the Connection of Civil Servants, Health Professionals and historical role persons in the proud foundation of NYC, NYS and the Nation that invariably we would work to find Our Way to help on Forward needs its in the fiber of the being to look to help on needs.

We have been consistently working on NYC, NYS, National, International and Global Research lines as bootstrapping Services and working to Economist and Analyst lines with Legal Skills to help on Fiscal Policy Level needs on Local, Regional, State, Multi-State, National and Global lines with a view to needs that there is a common line of needs for synergy where Industry, Non Profits, NGOs, Government and Communities meet in the Eco System and that to the core of macro decision making there are some challenges across the disconnect to entity financials and the overall lines of macro policy and legal frameworks that guide how we raise, spend and optimize the utilization of what are invariably limited resources in Economic Terms to Societal needs. We are blessed to have been from such a wonderful capital of knowledge and learning at the global cross roads in NYC an are equally blessed with strong lines to the Nations Capital, The Many States and Cities and International Sister City and Allied Nation lines with awareness to help on needs. For the US, UK, France, Germany, EU, Americas, Asia Pacific Lines and as much diversity flows to NYC as an international capital but never losing the context of the Nation and Our City as a subset of Our Nation and the path we all walk to build for Exceptional Teamwork as the calling to bring our skills together and not divide on path to meeting challenges and opportunities for economic improvements in entity and societal conditions which ultimately pertain to citizen stakeholder needs first and foremost even as encompassing the welcome sense of an open identity as a safe place for Humanity in its bounty.

So with the focus to help on NYC, NYS , Multi-State National and Global Challenges (mostly from a dimension of NYC to Global to help on Trade, Awareness and other lines of growth, risk and logistics and STEM needs) we have been since 2010 at work on a line of Economic and Social Research which pertains to the value we can bring to clients in any sector and the value we can bring through continual learning to help on the economy, learning which as noted includes domestic and global lines of financial decision making, economics, statistics, financials, legal, technology and social research to as many lines as it takes to support an Executive, Legislative and / or Judicial Decision Maker in NYC, NYC or the Nation including Trade and knowing that through having challenged our skills to that higher level of Policy, that the included Subset Lines of Entities and Eco Systems, Markets, Products, Sectors and for Profit or Dual Benefit X Factor lines ie in non profits and government lines to communities can only benefit from our agility across macro and micro decision making points, as fortune to have worked with major industry and international players (Fortune 500 and FTSE 100) as AIG (NY, UK), WPP Group USA (NY to UK Parent), Deutsche Bank (NY to London, Frankfurt), and other SME lines with the benefit of Rigour and Structure of Large Entities and the Agility to Mold to needs more common from SME lines where hands on skills and a can do attitude mean everything to CEO and teamwork support across client, vendor, business, regulatory, shareholder an stakeholders and making payrolls and supporting Regulators, Bankers, Business Partners, Investors, Creditors, Clients and Vendors with financial insight.

With that much knowledge and a passion for cross functional economic, statistical, legal, financial and social research we will return here and update some more but note these lines have been carried forward since 2015 and from origin at our original blog at 2011 http://dcarsoncpa.com/blog/ to present at http://dcarsoncpa.com/regions/new_york_-_the_empire_state .

We can help on your needs on #Economist #analyst #socialresearch #legalresearch ( #legalassistant ) #CFO #Controller #accounting #Taxes #Financials #Compliance #Technology and #communications needs at www.dcarsoncpa.com .

Senator Rufus King, a (Massachusetts) Signer of the Constitution, Abolitionist and First US Ambassador to England after the Revolution - his weekend home in Jamaica, Queens, NY

2015-05-17T17:01:00.004-07:00

In Draft:

Senator Rufus King, Signer of the Constitution, Abolitionist and First US Ambassador to England after the Revolution

The things that you find in NY will surprise you consistently as you walk with the modern and find yourself at once inextricably close to a theme of Revolutionary discovery. Such an experience is least expected in Jamaica Queens NY which is currently known more as a Transport Hub then the historical home of Senator Rufus King one of the original Massachusetts signers of the Constitution, a vocal opponent of Slavery, and the First US Ambassador to England after the Revolution.

What was once his Holiday House and retirement abode is currently a museum located in the heart of Jamaica Queens NY near the Family Courts and the Social Security Administration in Queens and not so far from the Air Rail to JFK Airport. The spacious abode was a build out from a smaller house to a bigger Farm and as touring the house per chance it became interesting to observe Senator Rufus King's affiliation which is not so commonly anticipated but speaks to something interesting in NY History worth further research.

New York has an important history that roots to the foundation of these United States. In the North in Westchester and upstate in Albany / Rensselear this is more readily apparent. But in the City the signs are more subtle consisting of more limited remnants of the birth of the Nation, many sites in Brooklyn and in Jamaica Queens

The New York State Historical Society has some strong resources on History as does the NY Public Library (link here to the Digital Collection)

Senator Kings dining room / guest room

Senator Kings Dining Room and the three part break away table that converted the room to a parlour with three guest tables and a dance music floor for guests bearing notable strong acoustics and as such being converted several times a year for chamber music and folk music performances.

There is more on the museum here at the Rufus King Museum site which is King Manor Museum.

Rufus King had a prolific library, the books from which currently reside with the New York Historical Society. They were hidden behind four paneled walls and if you see it (know that they were full prior to transfer to the NYS HS for safekeeping in climate control) you'll understand that he read alot as the account was he had to be pulled from the reading room where he would spend hours reading and studying as much knowledge as you could expect was needed in the formation of the Nation and conduct of Trade and other key needs related to Policy, Communications and Research.

In what was his favorite room with as many books as one would read in the pursuit of as much knowledge as is required of leadership in a pre-information technology age one can appreciate the sense that Senator King was dedicated to learning and growth.

Will map on more on his personal story here.

The odd and strong link of connection being in follow up to a meeting at BACC finding such a strong link of connection in Jamaica, NY as a location with a rich history in connecting the US - UK lines through diplomacy.

Following the Lines from SIPA Columbia NYC on the Breakout panels on Risk + Cyber including the Balance of Privacy and Accountability.

2015-05-17T14:42:00.001-07:00

In draft:

NYC has been seeing a series of meetings where important parties are coming together to discuss the needs on Risk + Cyber as related to Technology and Innovation and the Global lines on Risks to Free Speech on the main lines of Global Communication through Technology. This maps to our lines on the local, regional, state, multi-state, national and transnational lines on Risk + Cyber (via Risk Management) as key lines related to cross sector financials and ALL to common risks observed where ALL sectors are seeing critical challenges on the private data and financial lines of risk. We are all relevant stakeholders to the needs on Risk + Cyber which in the current age touches most everything in the Economy.

The SIPA Columbia Event is a critical event for Global Lines on follow up to Risk and Cyber lines to the Balance of Personal Liberties and Shared Accountability on a Local, State, Multi-State, National and Global Scale. Teamwork on Risk + Cyber is now moving to a faster pace and covers critical needs none the least of which correspond to Human Rights, Liberty, Freedom, Democracy itself and the deep complexity of Finding Consensus to the Balance of Local, State, Multi-State, National and Global needs. If you like Policy it's one of the more complex and interesting lines and the actual orchestration of the critical needs on Risk + Cyber are reliant to conform with the needs and Framework of Rules and Laws that indeed the roots of Risk at times seem unbound to. Meaning that Threat Actors on Risk have some leeway to Accountability until such point in time as more cohesive lines are established to allow the cyber world to draw closer to lines of Global Regulation. But how do you map a creative format to a regulated one? well that is indeed the formation of the matter of the SIPA meetings, the President's Directives on Cyber, the Earlier Fordham Session on Cyber Law and National Security from the End of April. All more relevant to Our Lines on Cyber but also very relevant to the needs of New Yorkers for a reasonable expectation of a balance of personal liberty and shared accountability in the Aggregate where Risk Management and Cyber Security meet and the key challenge becomes balancing needs on Privacy and Risk in gross oversimplification.

At the crux of the matter on Risk + Cyber the lines of Free Speech as defined in the Courts:

US Courts on Free Speech

Our Constitution and the Fourth Amendment when the conversation comes through the lens lines of Attorneys and the needs in Balance of what Attorney's would refer to as "Personal Rights on Privacy" and "State Rights on Security" as a derived simplified line. The actual matter of Rights is a point where Attorney's as experts are the owners of Product and the only meaning of a mention of "Rights" here is to place to the context of the conversations on Risk in context.

Our derived needs here are to consider what are the points of needs for Consumers and for Government (Compliance from an Operational Standpoint on procedures) and how the two will come to meet through core data lines on Data, Financials and Communications all very relevant to lines on Privacy, Security, Data and Financial Security and the needs on management for Risk + Cyber.

For Business a key challenge is the need for open lines for innovation and secure lines for Risk Management. This is the push-pull point where Risk + Cyber and Regulation, Risk Management and Open Lines for Innovation and Communications must find the path to co-existence in one manner or the next in the Economy.

Find the newer lines on Risk + Core Financials, Risk + Cyber and Risk Management that all pertain to points where a strong cross connection and outcome pertains to skills we provide on Financials, Compliance,. Economic Research, Communications and Awareness, Project Management and Business Analysis and other key points to help on Cost-Benefit Weighted Policy lines for the Economy with awareness for Stakeholders.

Learn more at DCarsonCPA and on web under brand DCarsonCPA.

Checking in on the Borough Lines a few points from last week

2015-05-17T13:02:00.002-07:00

Last week in overview: A week of Global Trade add Cyber Security as following the lines of needs in the Economy for growth, improvements and renewals. The balance of the needs on Growth, Risk Management and Cyber Security make for an interesting new Angle on the many tiered layers of Risk in the Economy and we have dedicated to help on the lines of awareness to the core of value in light of significant challenges where we ALL meet as stakeholders in the Economy.

Last Week was a substantial week in NYC for Business. NYC had the Annual EY event on Mutual Funds, the British Consulate Hosted the Annual US - UK BACC Meetings, Columbia University had an Event at SIPA on Internet Governance and Cyber Security and there was an International Business Week (World Trade Week NYC 2015) meeting at Baruch (one that we regrettably learned of late and missed and these are just the events at the top of the List.

We had plenty to learn and follow last week on a path of growth and will return to recap the takeaways soon. That noted...

I'll leave some space here to add other major events from a quick look back to follow.

Generally speaking, you don't have to miss events, you can follow DCarsonCPA the Empire Line or map to our landing page which we will soon rework to map in much more on the update lines at DCarsonCPA on the Empire Lines.

Where you can find support lines on Trade, Global Research, Financials, Entity and Sector Lines, LOBs on Services and much more.

at

On Accounting, Financials. Taxes, CFO / Advisory, Project Management and Business Analysis. Risk Management and more in the Aggregate. On the Aggregate Line. All elements of Our lines to the needs to help on leadership, management and staff development support to help on the Economy and Growth with cross skills and unique perspectives from cross functional research with the perspective to help both on services and on the economy.

This is a quick return to the update lines for the Empire Line for the Borough lines as we focus to some core needs to help on the Economy with cross sector teamwork where we meet in the Economy through the Financials on support lines for project services, research and outreach as greater defined at DCarsonCPA.

Restauranters and Sustainable Seafood

2012-10-14T17:17:00.000-07:00

In a nod to the Oceanographers and Marine Biologists who are working to maintain sustainable food resources in Our Oceans and in appreciation of the Great Work at Monterey Bay Aquarium on Sustainable Fisheries find a link on our NYC Blog for NYC Seafood Restauranters to connect with good options in support of the Oceans.

When it comes to the Environment Our Chosen Areas to help are on Agriculture and responsible Stewardship of the Ocean and Waterways for a better Future for the next generation and to help support in our way to help on the efforts to reclaim miles of Waterways that can be recaptured and managed for a greener New York City in the years ahead.

If your Non Profit works in NYS Agriculture, Biology or Science... reach out to us we can help on efficient services for Form 990 and more. If you are a Restauranter we are also here to assist on broad services. Learn more at www.dcarsoncpa.com . DCarsonCPA for Financial Decision Makers and the ways we can help on assisting improvements through knowledge and awareness.

NYC Water Fees

2012-10-14T15:48:00.001-07:00

NYC Charter on  NYC Water Fees:

Where "Unfunded Federal and State Mandates" are pushing the costs up on NYC Residents as per the Financial Footnotes... see the rate Statute and an erpt from the Annual Report explaining the Hikes that are currently hiting NYC Business and Residential Financials through Water Bills

§ 1045-j. Imposition and disposition of sewer and water fees, rates,
rents or charges. 1. The water board shall establish, fix and revise,
from time to time, fees, rates, rents or other charges for the use of,
or services furnished, rendered or made available by, the sewerage
system or water system, or both, as the case may be, owned by the water
board pursuant to this title in such amount at least sufficient at all
times so as to provide funds in an amount sufficient together with other
revenues available to the board, if any, (i) to pay to the authority, in
accordance with any agreement with the authority, an amount sufficient
for the purpose of paying the principal of and the interest on the
outstanding notes or bonds of the authority as the same shall become due
and payable and maintaining or funding a capital or debt service reserve
fund therefor and, to the extent requested by the city in, or annually
pursuant to, the agreement to pay to the city, in accordance with the
agreement, an amount sufficient for the purpose of paying the principal
of and interest on general obligation bonds thereof issued for or
allocable to the water system or sewerage system or both, as the case
may be, as the same shall become due and payable, and to maintain or
fund reserves therefor, (ii) to pay to the city, in accordance with the
agreement, an amount sufficient for the purpose of paying the costs of
administering, maintaining, repairing and operating and the cost of
constructing capital improvements to the water system or sewerage system
or both, as the case may be, (iii) to pay to the city in accordance with
the agreement entered into pursuant to section one thousand forty-five-i
of this title an amount sufficient for the purpose of paying liabilities
issued for or allocable to the water system or sewerage system or both,
as the case may be, as the same shall become due and payable, (iv) to
meet any requirements of any agreement including requirements relating
to the establishment of reserves for renewal and replacement and for
uncollected charges and covenants respecting rates, (v) to pay all other
reasonable and necessary expenses of the authority and the water board
in relation thereto, and (vi) to the extent requested by the city in or
pursuant to the agreement, to pay or provide for such other purposes or
projects as such city considers appropriate and in the public interest.
Any surplus of funds remaining in the water board after such payments
have been made shall be returned to the city for deposit in the general
fund.
    2. There is hereby established in the custody of the water board a
special fund to be known as the local water fund. Such fund shall
consist of the revenues derived from the fees, rates, rents and service
charges established, charged and collected pursuant to this title and
any other income earned or moneys received by the water board. Revenues
in the local water fund shall be kept separate and shall not be
commingled with any other moneys in the custody of the water board. All
moneys, properties and assets acquired by the water board, whether as
revenues or otherwise, shall be held by it in trust for the purposes of
carrying out its powers and duties, and shall be used and reused in
accordance with the purposes and provisions of this article.
    The water board shall deposit promptly, to the credit of the local
water fund, revenues collected under this article in a bank, banking
house or trust company as may be designated in or pursuant to the
agreement.
    3. No such fee, rate, rent or other charge shall be established, fixed
or revised unless and until the water board has held a public hearing at
which the users of the water system or sewerage system, or both, as the
case may be, the owners of property served or to be served and others
interested, have had an opportunity to be heard concerning the same.
Notice of such public hearing shall be published by the water board at

least twenty days before the date set therefor, in at least one newspaper of general circulation in each of the areas served by the water system or sewerage system, as the case may be. Such notice shall set forth the date, time and place of such hearing and shall include a brief description of the matters to be considered at such hearing. A copy of the notice shall be filed in the office of the clerk of the city and shall be available for inspection by the public. At all such hearings, any users of the water system, sewerage system, or both, as the case may be, owners of property served or to be served and any other interested persons shall have an opportunity to be heard concerning the matters under consideration. Any decision of the water board on matters considered at such public hearing shall be in writing and be made available in the office of the water board for public inspection during regular office hours. Such decision shall be published in at least one newspaper of general circulation in each of the areas served by the water system or sewerage system, as the case may be within thirty days after such decision is made. The fees, rates, rents or other charges so established for any class of users of property served shall be extended to cover any additional premises thereafter served which are within the same class, without the necessity of a hearing thereon. 4. The fees, rates, rents or other charges established, fixed and revised from time to time by the water board shall be collected by the water board at such times and in such manner as may be determined by the rules and regulations adopted by the water board consistent with the provisions of this title. 4-a. (a) The water board may enter into agreements with one or more financing agencies or card issuers to provide for the acceptance by the water board of credit cards as a means of payment of fees, rates, rent or other charges owed by a person to the water board. Any such agreement shall govern the terms and conditions upon which a credit card proffered as a means of payment of a fee, rate, rent or other charge shall be accepted or declined and the manner in and conditions upon which the financing agency or card issuer shall pay to the water board the amount of fees, rates, rent or other charges paid by means of a credit card pursuant to such agreement. Any such agreement may provide for the payment by the water board to such financing agency or card issuer of fees for the services provided by such financing agency or card issuer pursuant to such agreement, which fees may consist of a discount deducted from or payable in respect to the amount of each such fee, rate, rent or other charge or otherwise as the agreement may provide. (b) If the water board has entered into an agreement pursuant to paragraph (a) of this subdivision, it may accept credit cards as a means of payment of fees, rates, rent or other charges, as provided in any agreement entered into pursuant to paragraph (a) of this subdivision and may pay such fees as are specified in such agreement to such financing agency or card issuer in consideration of the services rendered by such financing agency or card issuer thereunder; provided, however, that the water board may require any person offering a credit card as a means of payment of such fee, rate, rent or other charge to pay to the water board a reasonable administrative service fee not to exceed the costs incurred by the water board in connection with such credit card transaction, which costs shall include any fee payable by the water board to such financing agency or card issuer. (c) The water board may promulgate any rules or regulations necessary to carry out the provisions of this subdivision. (d) For purposes of this subdivision, the terms "card issuer", "credit card", "financing agency" and "person" shall have the same meaning as

provided in subdivision (a) of section five of the general municipal law. 5. Such fees, rates, rents or other charges, if not paid when due, shall constitute a lien upon the premises served and a charge against the owners thereof, which lien and charge shall bear interest at the same rate as would unpaid taxes of the city. Such lien shall take precedence over all other liens or encumbrances, except taxes, and may be foreclosed against the lot or building served in the same manner as a lien for such taxes. The amount which remains due and unpaid for sixty days may, with interest thereon at the same rate as unpaid city taxes and with reasonable attorneys' fees, be recovered by the water board in a civil action in the name of the water board against such owners. The city, and any state agency shall be subject to the same fees, rates, rents or other charges under the same conditions as other users of such water system or sewerage system, or both, as the case may be. Tax exempt organizations shall be charged according to the provisions of chapter six hundred ninety-six of the laws of eighteen hundred eighty-seven, as amended by chapters eight hundred ninety-three and eight hundred ninety-four of the laws of nineteen hundred eighty and by provisions which may by law extend the provisions of such chapters from time to time. Any agreement for the supply of water or sewerage services between the city or an agency thereof and any other municipality or water supply system, or any administrative determination by a state agency, or any other arrangement in this regard, in effect at the time the water board shall be established, shall remain in full force and effect and be binding upon the water board as if it were a party to such agreement, determination or other arrangement. All rights, powers, duties, obligations and functions provided by law with respect to the fixing of charges or rates for the supply of water or sewerage services to users outside the city, including but not limited to those set forth in article one of title K of chapter fifty-one of the administrative code of the city of New York and article eight of the environmental conservation law, shall be deemed to apply, as appropriate, to the water board established pursuant to this title. In addition to any other lawful enforcement methods and pursuant to rules and regulations of the water board promulgated pursuant to this title, the payment of fees, rates, rents or other charges for water service or sewerage service to any premises may be enforced by discontinuing the water service or sewerage service to such premises provided that such discontinuance or disconnection of any supply of water or the provision of sewerage service, or both, as the case may be, shall not be carried out except in the manner and upon the notice as is required of a water-works corporation pursuant to subdivisions three-a, three-b and three-c of section eighty-nine-b and section one hundred sixteen of the public service law. 6. The water board shall pay to the authority such amounts at such times and in such manner as may be provided in the agreement by and among the authority, the water board and the city consistent with the priorities set forth in such agreement. There is hereby created a lien, by this title made a statutory lien within the meaning of the uniform commercial code and any other state or federal law, upon the gross revenues of the water board, in favor of the payment of all amounts due pursuant to such agreement and in the order and priority set forth therein and which lien shall be a first lien upon such gross revenues. The gross revenues so subject to such statutory lien shall be and remain subject to such statutory lien until the payment in full of each such item in accordance with such priority. Said statutory lien shall not be construed to give any holder or owner of any bond of the authority power

to compel the sale of any water system or sewerage system, as the case may be. 7. If there be any default by the water board in the making of the payments to the authority required under this section, as a result of the failure by the water board to impose sufficient fees, rates, rents or other charges, the authority may petition for the appointment by any court having jurisdiction in any proper action of a receiver to administer on behalf of the water board, under the direction of said court, the affairs of the water board in order to achieve system revenues at least sufficient to make such payments; and by and with the approval of said court, to establish, fix and revise, from time to time, fees, rates, rents or other charges at least sufficient therefor in conformity with this title, and the resolution or trust indenture of the authority providing for the issuance of its bonds and in accordance with such orders as the court shall make. 8. The water board shall prepare and transmit to the city on or before the first day of December in each year a list of those persons or property owners within such city who are in arrears in the payment of fees, rates, rents or other charges for a period of sixty days or more after the last day fixed for payment thereof without penalty. The list shall contain a brief description of the properties for which the services were provided, the names of the persons liable to pay for the same and the amounts chargeable to each, including penalties and interest computed to the next succeeding December thirty-first. The city shall levy such sums against the properties liable and shall state the amount thereof in a separate column in the annual tax rolls of such city under the name of "delinquent water charges" or "delinquent sewerage charges" or "delinquent water and sewerage charges" as may be appropriate and as may be directed by the water board. Such amounts, as and when collected by the commissioner of finance of the city, shall be paid over to the water board. All of the provisions of the tax laws of the state covering the enforcement and collection of unpaid taxes of the city shall apply to the collection of such unpaid fees, rates, rents or other charges. 9. Neither the public service commission, nor any city or state agency, shall have any jurisdiction over the water board or authority or any power over the regulation of the fees, rates, rents or other charges established, fixed or revised by the water board except with respect to the supply of water or sewerage services to users outside the city as provided in article one of title K of chapter fifty-one of the administrative code of the city of New York. 9-a. The water board shall hold public hearings, in each borough of the city of New York, prior to promulgating or fixing annual water and sewer rates for such city. Notice of such public hearing shall be conspicuously published in a newspaper of general circulation, within each borough, at least one week prior to the hearing.

Note: As of Read Date 10/14/2012 ALL NYC Charter Laws and Rules subject to change and update and you must confirm as filing or relying.

The Rates have gone up on Water as NYC Residents know, the Reason why from the Financials:

FY 2013 Expenditures:

In the coming fiscal year, operations and maintenance

expenses for this vast system will be 34% of the system’s budget. The largest driver of the system’s annual budget will be its debt service, accounting for 42% of the total revenue needed in FY2013. This debt service is a direct result of DEP’s massive capital construction projects, which have been largely driven by

unfunded mandates required by state and federal regulators.

These mandated capital construction projects — such as Croton Water Filtration Plant, Catskill and Delaware Ultraviolet (UV) Disinfection Facility, and Newtown Creek

Wastewater Treatment Plant — have been financed by debt that will be repaid over the next thirty years. While they will all have significant benefits for the City’s water and wastewater system, constructing them simultaneously has been costly.

For fiscal years 2002 through 2011, 69% of DEP’s capital commitments were directed for mandated projects, and from July 2002 through June 2012, net debt issuance by the New York City Municipal Water Finance Authority is expected to total $19.2 billion, for total outstanding debt of $27.4 billion. The resulting debt service has become the single largest driver of water and wastewater rate increases. While the ratio of mandated to non-mandated capital projects is falling, there are many capital

projects planned and underway to maintain the system, and DEP’s current capital expenditure rate is nearly $9 million per day on construction, design and construction management.

FY 2013 Expense Layouts:

This Extration from the report to keep you better informed on Cost Drivers influencing NYC Financials through increased Water Fees in this case.

Service

DCarsonCPA.com your link to services for Financial Decision Makers connecting a line on Government, Industry, Non Profit and Individual needs through Financials. Learn more at www.dcarsoncpa.com .

Opportunities for Business (where you least expect them)

2012-10-14T15:22:00.002-07:00

There have been a couple of missed blog opportunities to share with you the adventures of an Entrepreneurial walk in the realm of CPA Services and Advisory connecting on the walk of building out this practice. We have made some strong connections, found some new good friends and are lean and efficient in the many ways to finding new Business Opportunities in NYC.

As a brief list of things to come:

1. Improving the utilization of NYC Resident CPA talent at the NYC Comptroller's Office through localized service prioritization aka it makes Business sense in civic governance to create first round opportunities for NYC Domiciled CPAs. Remembering that NYC CPAs also pay City Taxes which help on the NYC Debt and boost the localized Economy.

Potential Footnote to the NYC Comptrollers Report for FY XX:

Additionally we were able to decrease the costs of NYC External Audits and boost the local economy through facilitating a special teamworking program in support of NYC CPAs

(we note: It sounds like a win for NYC)

2. The gate keeper is Increasing your Business Costs through not knowing who to pass through and who to keep out. We can help to better train them on the gate watch through connecting their role to Business Economics and Efficiency.

3. The Dewey Bankruptcy proceding found the missing Assets - but why are yours still Off Balance Sheet aka don't worry we can help. Find that P&L entry that can be reclassed with a little homework:

Journal Entry:

Dr. Cash             xxx

              Cr. Retained Earnings          xxx

(to Record the Liquid Assets we just found in your Business Model)

4. If your (Nameless Legendary) Entertainment Accounting rep / practice misssed your Assets we found them in the Public Record, We can help you make sure your Global Portfolio Wealth is on the Balance Sheet, correctly classified, Tracked and Accounted for.

Journal Entry:

Dr. Your Portfolio Assets  (via Cash)   XXX

        Cr. Net Worth                                          XXX

(to recapture Assets in your Global Porfolio Wealth )

5. If you are not measuring your business processes and dashboarding, you are losing real financial opportunities. Use the tools of Accounting, Finance and Compliance to maximize the Financial Opportunities you meet in your business.

6.Modesty will get you "know" where - for the most part we run an even keel considering the amount of hands on experience we bring . We know how to solve problems from hands on experience bottom up and top down on financials, it makes for a comprehensive cross sectional value proposition on Strategic and Operational skills but we are light on touting it - I am going to rethink that one. Because what we know while delivered with Modesty is a Real Financial Value package to help you in Strength on Strategy and Operations.

7. I found a great process map on Engagement from an English Firm yesterday.... I'll work that in to a future post.

8. We finally connected on a lead to build out the Agriculture Lines.... we are on on the commitment to build with knowledge that can help in support of US Agriculture right here from NYC..... in support of NY and US Family Farmers. I am so glad that we can do this...

9. When IP (Intellectual Property) leads you to the Photographer from Melody Maker... and he hands you a picture he took of James Marshall H (talk about IP!) in the Heyday of Soho (no not NY Soho, London Soho....) Chance encounters in NYC are some of the best Encounters at the cross roads of the World...aka This is why I love New York and you should too!!! .... but always remember we like your State, City and town too it's not Mutually exclusive and there are many great locations across this fine Nation of Ours.

If there was a hint of the cavalier here....no intention to upset anyone... we are just proud of the knowledge that's been built in support of Financial Decision Makers in Government, Industry, Non Profit and Individual roles on Financials. This line is Focused on NYC, but we are the line that connects on Local, State and National needs on Financials so learn more at:

DCarsonCPA.com your weblink to Our Practice, Our Practice is here with knowledge, experience, teamwork and research that can help to lead on Financial Decision Making - drop by www.dcarsoncpa.com to learn more.

NYC History - A litle bit on Big Events and some Economic Connections

2012-08-22T23:55:00.001-07:00

Most of Our efforts are focused on current events, following news on Legislation, Financial Rules, Taxes, Economic and Financial events that are important for Financial Decision Makers and the avenues where CPA's can add support on Services and also contribute in a productive way to the Community.

CPAs work with Financial, Operational, Accounting, Tax and Analytical Data in different ways and we have broadend the scope where we specifically exist to connect that CPA's are at work across the Economy in Government, Industry, Non Profit and Individual supporting roles. We work with Financial skills as a class of professionals. Financial skills that have equal relevance to Family, Individual, Non Profit, Industry and Government Financials and related problem solving.

This shared what also happens is that CPA's become Financial Historians looking at Facts connecting to events and understanding the history in Financial terms. This skill set exists in close compliment to Legal Skills enough so that through crossing a nearby bridge to broader Laws and Rules that a CPA has skills which when connected to Legal Research and Government Research can evolve to support Attorney's with Legal Support Services. It is probably more common then not within my peer group that we tend to appreciate history since we spend so much time working with Historical Financials. You can poll that for results if you like, I am now going to segue to another interesting and loosely related point where NYC History and Economic Events connect through some off track research I was working on, It makes for an interesting read and I hope you will enjoy.

Narrowing in, I have a line of relatives that where very active in the foundation of NYS a line which goes back to the very early days when New York was New Amsterdam. In the States Our History lines are comparatively short but this would go back to the 1600s and is about as far as it goes in these parts. This is important because it brings us back to a line of Colonials who fought in the American Revolution and while these United States have evolved in many ways since then we still value the path of growth. We are the most unique and diverse city in NYC and all of that counts for the good that we are today but there also was a long and complex path to meet modernity. Something of a Nation is lost when it fails to value the improvements that have been made together, it is therefore important to remember the path of evolvement and to know that ALL along the way there have been New Yorkers pushing for Improvement and proud Americans working for a better future of Equality, Opportunity, Financial Independence and a Nation where Liberty and Justice for All could prevail and thrive. It would be hard to argue that that pursuit has yet met it's
fullest point but you could fairly state that we are always improving upon that path as a Nation.

For a process of almost three years in leading this practice there was a deep process of connecting with Rules, Laws and considering where the past, the present and the future meet and how we could help decision makers across the board in the Economy. The answer for us was in connecting to Our Roots, Our Shared Foundation the vision of the Nation, The Financials the current challenges in Public Finance and then celebrating the evolving history of what we share as a progressive nation, a Constitutional Republic where rugged individualism and the vision that the strong can protect the weak manage to find a meeting ground, and a vision that we all must excercise self reliance and work for success.

There has never been a more complex time in the Nation and the sheer enormity of Government, Local , State and National and Public Finance, supporting Financial Decision Makers and helping on the points where we all join together count. We have a strong vision that the best ways we can help are on the immediate Financial challenges for Clients and with a broader vision to continually grow in ability to help on knowledge for Public Decision making support for Families, Individuals, Communities, Localities, States and the National future we share.

This is an important time not to divide for differences, but to draw together for problem solving for the future we share as a Nation with shared Economic Interests. The points where we ALL work together as Financial Decision Makers are points where we can productively support the importance of the Nation, through valuing History, Progress, Growth and the idea that we are ALL custodians, trustees and beneficiaries in the Nations Economy with a duty to protect the Legacy of Trust for an Independent Nation with Economic Freedom, the vision of Equality and what we value together looking forward. The only way we really succeed is with a sense of Community and of Independence and Self Reliance, through the dignity of work and opportunities that support Families, Individuals, Communities and the Future we share.

It's the most complicated and challenging work of ALL through Governance to balance the lines of Individual Rights, Family, Individual and Community needs and the way that the Executive, Legislative and Judicial branches work together through rule of law to piece it ALL together. We can only help on Financial Decision Making currently, but with sucess can open the pathways to help on broader needs by closing the GAP on Legal Title to work in the capacity to combine Financial and Legal skills to make a difference in the balance. Most of us lose interest and walk away from the Public Decision Making but it is an important way to make a difference. Each small part adds value to support Decision Makers.

Back on track I was conducting some research into New York History and following the line of a Family member through the Journals of NY History and an amazing account of that members Regiments contribution to the Nation's History when in that account I found ALL the complex history of Economics, Finance, Politics and the divided nature of the Nation during the Civil War and the important role of NY Bankers and some split loyalties when it crossed into this poignant resource on great events in NY History:

NYC had a massive Draft Riot in 1863 with some social ugliness that was led by the seeds of discontent, some dodgy dealing by a well financed activist that utilized Wall Street in thier bad intents to sow discord and a backdrop complex dichotomy between State Rights and Federal Rights through a Federal Act of the time. The reading was a little bit more complex and I am ommitting the resource here that provided the backgound official view that it was a well financed activist who caused the discord but the reading of what happened in NYC some 150 years ago read like some incredible movie. I am glad that we live in better times and that we have grown on relationships
respect and rule of law but still the history teaches that we have much to appreciate in improvement as a City, in the State and as a Nation.

This was more of a personal experience but since it led me to Economic, Social
and Financial History of this great city I thought it was to important to share this link then to let it go:

Follow this link to an interesting Historical Account of some major Economic, Financial and Social events that shaped NY via the Non Profit of a prominent NYC resident who really valued NYC history and cared enough to endow for the knolwedge of important Economic, Social, Political, Financial and Rights events that have shaped NYC as we know it today. The reason to share is to let you see more of the complex history, so we can value improvements and for Leaders to see the complex problems....

I found it very interesting and hope you will too... also know that we value people,
diverse groups, individuals, families, communities and all that we share. We find Problem solving in the Public Forum very interesting and these events help paint the complexity, improved civility and complex challenges that have been solved here in NY over many years.

Link to http://www.vny.cuny.edu/index-2.html

CUNY Website in Virtual NY ( big challenges in History).

DCarsonCPA.com where the immediate opportunity on Client Services also connects with an important Broader vision of needs we ALL share as Financial Decision Makers in the Economy. The vision is also to grow skills that can help on Problem Solving skills in Governance looking forward as we hopefully find sucess in growing in transition with Legal Skills to better position for forward leading roles to help on challenges.

My Money NYC - Tracking NYC Spending

2012-06-08T20:01:00.001-07:00

Keeping up with the good work from NYC on supporting City Residents with insight to the Nation's largest metropolitan center:

My Money NYC, a tool from the Office of Comptroller Liu to track NYC Government spending.

http://www.comptroller.nyc.gov/mymoneynyc/

DCarsonCPA following the lines of important Decision Making in Government, Industry, Non Profit and Individual Financials. We work with Clients in ALL sectors on Services and related Research for Financial Decision Makers. learn more at www.dcarsoncpa.com or e-mail info@dcarsoncpa.com . For Accounting, Taxes, Advisory, Compliance, Financial Analysis, Business Analysis, Research and more.

NYC Govt a Quick Check in on 5/13/12

2012-05-13T17:57:00.001-07:00

NYC Govt a Quick survey around the City on 5/13/12:

Mayor's Office:

MAYOR BLOOMBERG ANNOUNCES FILM AND TELEVISION INDUSTRY HAS SPENT $60 BILLION IN NEW YORK CITY OVER PAST DECADE, AND TELEVISION PRODUCTION IS NOW AT AN ALL-TIME HIGH

MAYOR BLOOMBERG DISCUSSES HOW SOUND FINANCIAL PLANNING AND A DIVERSIFIED ECONOMY HELPED BALANCE THE CITY'S BUDGET WITHOUT RAISING TAXES

Mayors Fiscal Year 2012 preliminary Management Report:

0212_mmr

City Council:

Statements by Speaker Christine C. Quinn and Finance Chair Domenic M. Recchia, Jr. Re: Mayor’s Executive Budget

NEW YORK CITY COUNCIL SPEAKER CHRISTINE C. QUINN, COUNCIL MEMBERS & THE MAYOR'S OFFICE OF MEDIA AND ENTERTAINMENT (MOME) ANNOUNCE LIVE TV AND WEB COVERAGE OF CITY COUNCIL HEARINGS MAKING NEW YORK CITY THE LARGEST MUNICIPALITY TO CARRY LEGISLATIVE HEARINGS LIVE

NYC Comptroller's Office:

My Money NYC - making City Spending more transparent http://www.comptroller.nyc.gov/mymoneynyc/

CAFR 2011 though June 2011 - this is a repost and we are almost up to another year but it is thekey way to understand our city through knowing the Financials http://www.comptroller.nyc.gov/reports.shtm

Audit Report on the Manhattan Community Boards’ Compliance with Meeting and Public Hearing Rules and Regulations

Quarterly Cash Report,
October-December 2011,
Second Quarter of FY 2012

Ever wonder how much those law suits end up costing the City? - you can see it here in the Claims and Adjustment report - the most current posted one is for 2010:

Annual Claims Report Fiscal Year 2009 - 2010

NYC OMB

Understanding the City Budget Cycle http://www.nyc.gov/html/omb/html/about/cycle.shtml

DCarsonCPA.com following the line of Government, Industry / Business, Non Profit and Individual updates that matter for Financials. Supporting Financial Decision Makers with services on Accounting, Taxes, Advisory, Research and Related Services. Working to support Clients and help us all better connect to Decision Making that influences financials so we can be a constructive part of helping elected Decision Makers through supporting needs on Financial Insight and perspective that can help.
For your needs on services learn more at www.dcarsoncpa.com or reach us at info@dcarsoncpa.com .

NYC - Commercial Rent Tax

2012-04-11T18:40:00.002-07:00

ADC - New York City Administrative Code(NEW) Ch 7 - COMMERCIAL RENT OR OCCUPANCY TAX

§ 11-702 Imposition of tax. a. (1) For each tax year commencing on or after June first, nineteen hundred sixty-three and ending on or before May thirty-first, nineteen hundred seventy, every tenant shall pay a tax of two and one-half per centum of his or her base rent for such tax year where his or her base rent is not in excess of twenty-five hundred dollars per year or where his or her base rent is for a period of less than one year and would not exceed twenty-five hundred dollars for a year if it were paid on an equivalent basis for an entire year or a tax of five per centum of his or her base rent for such tax year where his or her base rent is in excess of twenty-five hundred dollars per year or where his or her base rent is for a period of less than one year and would exceed twenty-five hundred dollars a year if it were paid on an equivalent basis for an entire year. (2) For each tax year commencing on or after, June first, nineteen hundred seventy, every tenant shall pay a tax at the rates shown in the following tables: When the annual rent is: But not more than: The rate shall be: 0..................... $2,499 2 1/2% of the rent $ 2,500 or over....... $4,999 5% of the rent $ 5,000 or over....... $7,999 6 1/4% of the rent $ 8,000 or over....... $10,999 7% of the rent $11,000 and over...... 7 1/2% of the rent For tax years embraced within the period beginning after May thirty-first, nineteen hundred seventy-seven and ending May thirty-first, nineteen hundred eighty, the tax shall be imposed at rates equal to ninety percent of the rates shown in the foregoing table. For tax years beginning after May thirty-first, nineteen hundred eighty and ending May thirty-first, nineteen hundred eighty-one, the tax shall be imposed at rates equal to eighty-five percent of the rates shown in the foregoing table. For tax years beginning after May thirty-first, nineteen hundred eighty-one, the tax shall be imposed at rates equal to eighty percent of the rates shown in the foregoing table. Where the rent is for a period of less than one year, the rate shall be determined by assuming that the rent is on an equivalent basis for the entire year. b. Nothing contained in this chapter shall be deemed to require payment of a double or multiple tax pursuant to this chapter on any part of any taxable premises. c. Where a tenant pays an undivided rent for premises used both for residential purposes and as taxable premises, the tax shall be applicable to so much of the rent as is ascribable to the portion of such premises used as taxable premises. Where, however, the rent ascribable to so much of such premises as is used as taxable premises does not exceed fifty dollars a month, such rent shall be excluded from such tenant's base rent. Nothing contained in this subdivision shall be construed as indicating an intent to exclude any base rent from the tax imposed by this chapter merely because it is paid as part of an undivided rent for premises which are only partially used as taxable premises. d. The tax imposed by this chapter shall be in addition to any and all other taxes including the public housing tax imposed by chapter ten of this title. e. Nothing contained in this section shall be construed as permitting base rent of a tenant for one taxable premises to be reduced by deducting rents received by him or her for another taxable premises of which he or she is also a tenant.

DCarsonCPA.com your NYC based Solution for Accounting, Taxes, Advisory, Compliance, Audits and related Research Services. Learn more at http://www.dcarsoncpa.com/ or e-mail info@dcarsoncpa.com .

NYC - Banking Corporation Tax

2012-04-11T18:36:00.002-07:00

NYC Administrative Code - Banking Corporation Tax

Part 4 - Banking Corporation Tax

§ 11-639 Imposition of tax. (a) For the privilege of doing business in the city in a corporate or organized capacity, a tax, computed under section 11-643 of this part, is hereby annually imposed on every banking corporation for each of its taxable years, or any part thereof, beginning on or after January first, nineteen hundred seventy-three. (b) In the case of a taxpayer whose taxable year is other than a calendar year, there is hereby imposed a tax for the privilege of doing business in the city in a corporate or organized capacity for the period beginning January first, nineteen hundred seventy-three and extending through the subsequent part of its first such taxable year ending after such date. Such tax shall be computed under section 11-643 of this part on the basis of such taxpayer's entire net income, or other applicable basis as the case may be, for such period and shall be paid with a return which shall be separately filed with the department of finance not later than the fifteenth day of the third month succeeding the close of such period. The requirements of sections 11-644 and 11-645, relating to declarations and payments of estimated tax, except subdivision (a) of section 11-645, shall not be applicable to the tax imposed by this subdivision. (c) For taxable years beginning on or after January first, two thousand eleven, (1) a banking corporation is doing business in the city in a corporate or organized capacity if (i) it has issued credit cards to one thousand or more customers who have a mailing address within the city as of the last day of its taxable year, or (ii) it has merchant customer contracts with merchants and the total number of locations covered by those contracts equals one thousand or more locations in the city to whom the banking corporation remitted payments for credit card transactions during the taxable year, or (iii) it has receipts of one million dollars or more in the taxable year from its customers who have been issued credit cards by the banking corporation and have a mailing address within the city, or (iv) it has receipts of one million dollars or more arising from merchant customer contracts with merchants relating to locations in the city, or (v) the sum of the number of customers described in subparagraph (i) of this paragraph plus the number of locations covered by its contracts described in subparagraph (ii) of this paragraph equals one thousand or more, or the amount of its receipts described in subparagraphs (iii) and (iv) of this paragraph equals one million dollars or more. For purposes of this paragraph, receipts from processing credit card transactions for merchants include merchant discount fees received by the banking corporation. (2) As used in this subdivision, the term "credit card" includes bank, credit, travel and entertainment cards.

DCarsonCPA.com connecting to the Rules that bind on NYC Taxes for Business, Non Profit and Individual Financial Decision Makers. Available for Client Services on Accounting, Taxes, Advisory, Audits, Compliance and Related Research Services. Find us at http://www.dcarsoncpa.com/ or e-mail us at info@DCarsonCPA.com .

NYC - Unincorporated Business Tax

2012-04-11T18:30:00.001-07:00

Following NYC for the Rules that bind on Taxation:

We find for brief highlight the NYC Unincorporated Business Tax

ADC - New York City Administrative Code(NEW) Ch 5 - CITY UNINCORPORATED BUSINESS INCOME TAX

§ 11-503 Imposition of tax. (a) General. A tax at the rate of four percent is hereby imposed for each taxable year, beginning with taxable years ending after January first, nineteen hundred sixty-six, on the unincorporated business taxable income of every unincorporated business wholly or partly carried on within the city. This tax shall be in addition to any other taxes imposed. (b) Credit against tax. (1) For each taxable year beginning after nineteen hundred eighty-six but before nineteen hundred ninety-six: (A) if the tax computed under subdivision (a) of this section is six hundred dollars or less, a credit shall be allowed for the entire amount of such tax; (B) if the tax computed under subdivision (a) of this section exceeds six hundred dollars but is less than eight hundred dollars, a credit shall be allowed in the amount determined by multiplying such tax by a fraction the numerator of which is eight hundred dollars minus the amount of such tax and the denominator of which is two hundred dollars; or (C) if the tax computed under subdivision (a) of this section is eight hundred dollars or more, no credit shall be allowed. (2) For each taxable year beginning in nineteen hundred ninety-six: (A) if the tax computed under subdivision (a) of this section is eight hundred dollars or less, a credit shall be allowed for the entire amount of such tax; (B) if the tax computed under subdivision (a) of this section exceeds eight hundred dollars but is less than one thousand dollars, a credit shall be allowed in the amount determined by multiplying such tax by a fraction the numerator of which is one thousand dollars minus the amount of such tax and the denominator of which is two hundred dollars; or (C) if the tax computed under subdivision (a) of this section is one thousand dollars or more, no credit shall be allowed. (3) For each taxable year beginning after nineteen hundred ninety-six but before two thousand nine: (A) if the tax computed under subdivision (a) of this section is one thousand eight hundred dollars or less, a credit shall be allowed for the entire amount of such tax; (B) if the tax computed under subdivision (a) of this section exceeds one thousand eight hundred dollars but is less than three thousand two hundred dollars, a credit shall be allowed in the amount determined by multiplying such tax by a fraction the numerator of which is three thousand two hundred dollars minus the amount of such tax and the denominator of which is one thousand four hundred dollars; or (C) if the tax computed under subdivision (a) of this section is three thousand two hundred dollars or more, no credit shall be allowed. (3-a) For each taxable year beginning after two thousand eight: (A) if the tax computed under subdivision (a) of this section is three thousand four hundred dollars or less, a credit shall be allowed for the entire amount of such tax; (B) if the tax computed under subdivision (a) of this section exceeds three thousand four hundred dollars but is less than five thousand four hundred dollars, a credit shall be allowed in the amount determined by multiplying such tax by a fraction the numerator of which is five thousand four hundred dollars minus the amount of such tax and the denominator of which is two thousand dollars; or (C) if the tax computed under subdivision (a) of this section is five thousand four hundred dollars or more, no credit shall be allowed. (4) If separate partnerships, joint ventures or other unincorporated entities have substantially the same partners or members, each of such partners or members has substantially the same interest in each of such partnerships, joint ventures or other unincorporated entities, and such partnerships, joint ventures or other unincorporated entities are engaged in substantially the same business or businesses or in substantially related businesses, all of such partnerships, joint ventures or other unincorporated entities shall be treated as one unincorporated business for purposes of this subdivision. The preceding sentence shall not be construed to limit or affect the meaning or application of any other provision of this chapter. (5) Notwithstanding anything to the contrary, the credit allowable under this subdivision shall be taken prior to any other credit allowed by this section. (c) Credit relating to stock transfer tax. (1) In addition to any other credit permitted under this section, a taxpayer shall be allowed a credit, to be credited or refunded in the manner hereinafter provided in this subdivision, against the tax imposed by this chapter after the allowance of any other credit under this section. The amount of such credit shall be fifty percent of the tax incurred in market making transactions under the provisions of article twelve of the tax law on such transactions subject to such tax occurring on and after August first, nineteen hundred seventy-six and paid by such taxpayer (except when such tax shall have been paid pursuant to section two hundred seventy-nine-a of the tax law). (2) For purposes of this subdivision: (a) the term "taxpayer" shall mean any unincorporated business subject to tax under this chapter registered with the United States securities and exchange commission in accordance with subsection (b) of section fifteen of the securities exchange act of nineteen hundred thirty-four, as amended, and acting as a dealer in a transaction described in subparagraph (b) of this paragraph, and (b) the term "market making transaction" shall mean any transaction involving a sale (including a short sale) by a dealer of shares or certificates subject to the tax imposed by article twelve of the tax law, provided such shares or certificates are sold: (i) as stock in trade or inventory or as property held for sale in the ordinary course of such dealer's trade or business (including transfers which are part of an underwriting), (ii) in (a) a bona fide arbitrage transaction; (b) a bona fide hedge transaction involving a long or short position in any equity security and a long or short position in a security entitling the holder to acquire or sell such equity security; or (c) a risk arbitrage transaction in connection with a merger, acquisition, tender offer, recapitalization, reorganization, or similar transaction, or (iii) to offset a transaction made in error. Provided, however, that, except as to subclause (c) of clause (ii) of subparagraph (b) of this paragraph, the term "market making transaction" shall not include any sale of shares or certificates identified in such dealer's records as a security held for investment within the meaning of section twelve hundred thirty-six of the internal revenue code. (3) The credit allowed under this subdivision for any taxable year shall be deemed to be an overpayment of tax by the taxpayer to be credited or refunded in accordance with the provisions of section 11-526 of this chapter, except as otherwise provided in subdivision (g) of sections 11-512 and 11-514 of this chapter; provided, however, that the provisions of this chapter notwithstanding, the amount to be refunded pursuant to this subdivision shall not be paid prior to the first day of the eighth month following the close of the taxable year, and the provisions of subdivision (c) of section 11-528 of this chapter notwithstanding, interest shall be allowed and paid on the overpayment of the credit under this subdivision from the first day of the eleventh month following the close of the taxable year, or three months after a claim for the credit or refund provided for in this subdivision has been filed, whichever is later. (4) Provided, however, that the credit provided under this subdivision shall be allowed only to the extent that the amount of credit allowable with respect to market making transactions under the provisions of this subdivision (determined without regard to the provisions of this paragraph) exceeds fifty percent of all rebates (provided for under the provisions of section two hundred eighty-a of article twelve of the tax law) allowed for such taxes incurred in the same market making transactions with respect to which the credit is determined. No credit shall be allowed under this subdivision with respect to any tax incurred in market making transactions occurring on or after October first, nineteen hundred eighty-one. (d) Credit relating to certain sales and compensating use taxes. (1) In addition to the credits allowed by subdivisions (b) and (c) of this section, a taxpayer shall be allowed a credit against the tax imposed by this chapter to be credited or refunded in the manner hereinafter provided in this section. The amount of such credit shall be the excess of (A) the amount of sales and compensating use taxes imposed by section eleven hundred seven of the tax law during the taxpayer's taxable year which became legally due on or after and was paid on or after July first, nineteen hundred seventy-seven, less any credit or refund of such taxes, with respect to the purchase or use by the taxpayer of machinery or equipment for use or consumption directly and predominantly in the production of tangible personal property, gas, electricity, refrigeration or steam for sale, by manufacturing, processing, generating, assembling, refining, mining or extracting, or telephone central office equipment or station apparatus or comparable telegraph equipment for use directly and predominantly in receiving at destination or initiating and switching telephone or telegraph communication, but not including parts with a useful life of one year or less or tools or supplies used in connection with such machinery, equipment or apparatus over (B) the amount of any credit for such sales and compensating use taxes allowed or allowable against the taxes imposed by subchapter two of chapter eleven of this title, for any periods embraced within the taxable year of the taxpayer under this chapter. (2) The credit allowed under this section for any taxable year shall be deemed to be an overpayment of tax by the taxpayer to be credited or refunded, without interest, in accordance with the provisions of section 11-526 of this chapter. (3) Where the taxpayer receives a refund or credit of any tax imposed under section eleven hundred seven of the tax law for which the taxpayer had claimed a credit under the provisions of this section in a prior taxable year, the amount of such tax refund or credit shall be added to the tax imposed by this section, and such amount shall be subtracted in computing unincorporated business taxable income for the taxable year. (e) Credit relating to the annual increase in certain payments to a landlord by a taxpayer relocating industrial and commercial employment opportunities. (1) In addition to any other credit allowed by this section, a taxpayer shall be allowed a credit against the tax imposed by this chapter to be credited or refunded, without interest, in the manner hereinafter provided in this section. (A) Where a taxpayer shall have relocated to the city from a location outside the state, and by such relocation shall have created a minimum of one hundred industrial or commercial employment opportunities, and

where such taxpayer shall have entered into a written lease for the relocation premises, the terms of which lease provide for increased additional payments to the landlord which are based solely and directly upon any increase or addition in real estate taxes imposed on the leased premises, the taxpayer upon approval and certification by the industrial and commercial incentive board as hereinafter provided shall be entitled to a credit against the tax imposed by this chapter. The amount of such credit shall be: An amount equal to the annual increased payments actually made by the taxpayer to the landlord which are solely and directly attributable to an increase or addition to the real estate tax imposed upon the leased premises. Such credit shall be allowed only to the extent that the taxpayer has not otherwise claimed said amount as a deduction against the tax imposed by this chapter. The industrial and commercial incentive board in approving and certifying to the qualifications of the taxpayer to receive the tax credit provided for herein shall first determine that the applicant has met the requirements of this section, and further, that the granting of the tax credit to the applicant is in the "public interest." In determining that the granting of the tax credit is in the public interest, the board shall make affirmative findings that: the granting of the tax credit to the applicant will not effect an undue hardship on similar taxpayers already located within the city; the existence of this tax incentive has been instrumental in bringing about the relocation of the applicant to the city; and the granting of the tax credit will foster the economic recovery and economic development of the city. The tax credit, if approved and certified by the industrial and commercial incentive board, must be utilized annually by the taxpayer for the length of the term of the lease or for a period not to exceed ten years from the date of relocation, whichever period is shorter. (B) Definitions: When used in this section, "Employment opportunity" means the creation of a full time position of gainful employment for an industrial or commercial employee and the actual hiring of such employee for the said position. "Industrial employee" means one engaged in the manufacture or assembling of tangible goods or the processing of raw materials. "Commercial employee" means one engaged in the buying, selling or otherwise providing of goods or services other than on a retail basis. "Retail" means the selling or otherwise disposing or furnishing of tangible goods or services directly to the ultimate user or consumer. "Full time position" means the hiring of an industrial or commercial employee in a position of gainful employment where the number of hours worked by such employee is not less than thirty hours during any given week. "Industrial and commercial incentive board" means the board created pursuant to subchapter two of chapter two of this title. (2) The credit allowed under this section for any taxable year shall be deemed to be an overpayment of tax by the taxpayer to be credited or refunded, without interest, in accordance with the provisions of section 11-526 of this chapter. (f) Credit relating to certain expenses involved in the cost of relocating industrial and commercial employment opportunities. (1) In addition to any other credit allowed by this section, a taxpayer shall be allowed a credit against the tax imposed by this chapter to be credited or refunded in the manner hereinafter provided in this section. The amount of such credit shall be: (A) A maximum of three hundred dollars for each commercial employment and a maximum of five hundred dollars for each industrial employment opportunity relocated to the city from an area outside the state. Such

credit shall be allowed to a taxpayer who relocates a minimum of ten employment opportunities. The credit shall be allowed against employment opportunity relocation costs incurred by the taxpayer. Such credit shall be allowed only to the extent that the taxpayer has not claimed a deduction for allowable employment opportunity relocation costs. The credit allowed hereunder may be taken by the taxpayer in whole or in part in the year in which the employment opportunity is relocated by such taxpayer or either of the two years succeeding such event; provided, however, that no credit shall be allowed under this subdivision to a taxpayer for industrial employment opportunities relocated to premises (i) that are within an industrial business zone established pursuant to section 22-626 of this code and (ii) for which a binding contract to purchase or lease was first entered into by the taxpayer on or after July first, two thousand five. The commissioner of finance is empowered to promulgate rules and regulations and to prescribe the form of application to be used. (B) Definitions: When used in this section, "Employment Opportunity" means the creation of a full time position of gainful employment for an industrial or commercial employee and the actual hiring of such employee for the said position. "Industrial Employee" means one engaged in the manufacture or assembling of tangible goods or the processing of raw materials. "Commercial Employee" means one engaged in the buying, selling or otherwise providing of goods or services other than on a retail basis. "Retail" means the selling or otherwise disposing of tangible goods directly to the ultimate user or consumer. "Full Time Position" means the hiring of an industrial or commercial employee in a position of gainful employment where the number of hours worked by such employee is not less than thirty hours during any given work week. "Employment Opportunity Relocation Costs" means the costs incurred by the taxpayer in moving furniture, files, papers and office equipment into the city from a location outside the state; the costs incurred by the taxpayer in the moving from a location outside the state; the costs of installation of telephones and other communications equipment required as a result of the relocation to the city from a location outside the state; the cost incurred in the purchase of office furniture and fixtures required as a result of the relocation to the city from a location outside the state; and the cost of renovation of the premises to be occupied as a result of the relocation provided, however, that such renovation costs shall be allowable only to the extent that they do not exceed seventy-five cents per square foot of the total area utilized by the taxpayer in the occupied premises. (2) The credit allowed under this section for any taxable year shall be deemed to be an overpayment of tax by the taxpayer to be credited or refunded without interest, in accordance with the provisions of section 11-526 of this chapter. (i) Relocation and employment assistance credit. (1) In addition to any other credit allowed by this section, a taxpayer that has obtained the certifications required by chapter six-B of title twenty-two of the code shall be allowed a credit against the tax imposed by this chapter. The amount of the credit shall be the amount determined by multiplying five hundred dollars or, in the case of a taxpayer that has obtained pursuant to chapter six-B of such title twenty-two a certification of eligibility dated on or after July first, nineteen hundred ninety-five, one thousand dollars or, in the case of an eligible business that has obtained pursuant to chapter six-B of such title twenty-two a certification of eligibility dated on or after July first, two thousand,

for a relocation to eligible premises located within a revitalization area defined in subdivision (n) of section 22-621 of the code, three thousand dollars, by the number of eligible aggregate employment shares maintained by the taxpayer during the taxable year with respect to particular premises to which the taxpayer has relocated; provided, however, with respect to a relocation for which no application for a certificate of eligibility is submitted prior to July first, two thousand three, to eligible premises that are not within a revitalization area, if the date of such relocation as determined pursuant to subdivision (j) of section 22-621 of the code is before July first, nineteen hundred ninety-five, the amount to be multiplied by the number of eligible aggregate employment shares shall be five hundred dollars, and with respect to a relocation for which no application for a certificate of eligibility is submitted prior to July first, two thousand three, to eligible premises that are within a revitalization area, if the date of such relocation as determined pursuant to subdivision (j) of such section is before July first, nineteen hundred ninety-five, the amount to be multiplied by the number of eligible aggregate employment shares shall be five hundred dollars, and if the date of such relocation as determined pursuant to subdivision (j) of such section is on or after July first, nineteen hundred ninety-five, and before July first, two thousand, one thousand dollars; provided, however, that no credit shall be allowed for the relocation of any retail activity or hotel services; provided, further, that no credit shall be allowed under this subdivision to any taxpayer that has elected pursuant to subdivision (d) of section 22-622 of the code to take such credit against a gross receipts tax imposed under chapter eleven of this title; and provided that in the case of an eligible business that has obtained pursuant to chapter six-B of such title twenty-two certifications of eligibility for more than one relocation, the portion of the total amount of eligible aggregate employment shares to be multiplied by the dollar amount specified in this paragraph for each such certification of a relocation shall be the number of total attributed eligible aggregate employment shares determined with respect to such relocation pursuant to subdivision (o) of section 22-621 of the code. For purposes of this subdivision, the terms "eligible aggregate employment shares," "relocate," "retail activity" and "hotel services" shall have the meanings ascribed by section 22-621 of the code. (2) The credit allowed under this subdivision with respect to eligible aggregate employment shares maintained with respect to particular premises to which the taxpayer has relocated shall be allowed for the first taxable year during which such eligible aggregate employment shares are maintained with respect to such premises and for any of the twelve succeeding taxable years during which eligible aggregate employment shares are maintained with respect to such premises; provided that the credit allowed for the twelfth succeeding taxable year shall be calculated by multiplying the number of eligible aggregate employment shares maintained with respect to such premises in the twelfth succeeding taxable year by the lesser of one and a fraction the numerator of which is such number of days in the taxable year of relocation less the number of days the eligible business maintained employment shares in the eligible premises in the taxable year of relocation and the denominator of which is the number of days in such twelfth succeeding taxable year during which such eligible aggregate employment shares are maintained with respect to such premises. Except as provided in paragraph four of this subdivision, if the amount of the credit allowable under this subdivision for any taxable year exceeds the tax imposed for such year, the excess may be carried over, in order, to

the five immediately succeeding taxable years and, to the extent not previously deductible, may be deducted from the taxpayer's tax for such years. (3) The credit allowable under this subdivision shall be deducted after the credits allowed by subdivisions (b) and (j) of this section, but prior to the deduction of any other credit allowed by this section. (4) In the case of a taxpayer that has obtained a certification of eligibility pursuant to chapter six-B of title twenty-two of the code dated on or after July first, two thousand for a relocation to eligible premises located within the revitalization area defined in subdivision (n) of section 22-621 of the code, the credits allowed under this subdivision, or in the case of a taxpayer that has relocated more than once, the portion of such credits attributed to such certification of eligibility pursuant to paragraph one of this subdivision, against the tax imposed by this chapter for the taxable year of such relocation and for the four taxable years immediately succeeding the taxable year of such relocation, shall be deemed to be overpayments of tax by the taxpayer to be credited or refunded, without interest, in accordance with the provisions of section 11-526 of this chapter. For such taxable years, such credits or portions thereof may not be carried over to any succeeding taxable year; provided, however, that this paragraph shall not apply to any relocation for which an application for a certification of eligibility was not submitted prior to July first, two thousand three, unless the date of such relocation is on or after July first, two thousand. (j) (1) If a partner in an unincorporated business is taxable under this chapter and is required to include in unincorporated business taxable income his, her or its distributive share of income, gain, loss and deductions of, or guaranteed payments from, such unincorporated business, such partner shall be allowed a credit against the tax imposed by this chapter equal to the lesser of the amounts determined in subparagraphs (A) and (B) of this paragraph: (A) The amount determined in this subparagraph is the product of (i) the sum of (I) the tax imposed by this chapter on the unincorporated business for its taxable year ending within or with the taxable year of the partner and paid by the unincorporated business and (II) the amount of any credit or credits taken by the unincorporated business under this section (except the credit allowed by subdivision (b) of this section) for its taxable year ending within or with the taxable year of the partner, to the extent that such credits do not reduce such unincorporated business's tax below zero, and (ii) a fraction, the numerator of which is the net total of the partner's distributive share of income, gain, loss and deductions of, and guaranteed payments from, the unincorporated business for such taxable year, and the denominator of which is the sum, for such taxable year, of the net total distributive shares of income, gain, loss and deductions of, and guaranteed payments to, all partners in the unincorporated business for whom or which such net total (as separately determined for each partner) is greater than zero. (B) The amount determined in this subparagraph is the difference between (i) the tax computed pursuant to this chapter on the unincorporated business taxable income of the partner, without allowance of any credits allowed by this section, and (ii) the tax so computed, determined as if the partner had no such distributive share or guaranteed payments with respect to the unincorporated business, provided, however, that the amounts computed in clauses (i) and (ii) of this subparagraph shall be computed with the following modifications:

(I) such amounts shall be computed without taking into account any carryforward or carryback by the partner of a net operating loss; (II) if, prior to taking into account any distributive share or guaranteed payments from any unincorporated business or any net operating loss carryforward or carryback, the unincorporated business taxable income of the partner is less than zero, such unincorporated business taxable income shall be treated as zero; and (III) if such partner's net total distributive share of income, gain, loss and deductions of, and guaranteed payments from, any unincorporated business is less than zero, such net total shall be treated as zero. The amount determined in this subparagraph shall not be less than zero. (2) (A) Notwithstanding anything to the contrary in paragraph one of this subdivision, the credit or the sum of the credits that may be taken by a partner for a taxable year under this subdivision with respect to an unincorporated business or unincorporated businesses in which he, she or it is a partner shall not exceed the tax imposed on the unincorporated business taxable income of such partner under this chapter for such taxable year reduced by the credit allowed under subdivision (b) of this section. If the credit allowed under paragraph one of this subdivision or the sum of such credits exceeds such tax as so reduced, the amount of the excess may be carried forward, in order, to each of the seven immediately succeeding taxable years and, to the extent not previously taken, shall be allowed as a credit in each of such years. In applying the provisions of the preceding sentence, the credit determined for the taxable year under paragraph one of this subdivision shall be taken before taking any credit carryforward pursuant to this paragraph and the credit carryforward attributable to the earliest taxable year shall be taken before taking a credit carryforward attributable to a subsequent taxable year. (B) Notwithstanding anything to the contrary in subparagraph (A) of this paragraph, in the case of a partner which is a partnership, no credit carryforward to any taxable year shall be allowed unless one or more of the partners therein during such taxable year were persons having a proportionate interest or interests, amounting to at least eighty percent of all such interests, in the unincorporated business gross income and unincorporated business deductions of the partnership which was allowed the credit for which a carryforward is claimed. In such event, the carryforward allowable on account of such credit shall not exceed the percentage of the amount otherwise allowable, determined by dividing (i) the sum of the proportionate interests in the unincorporated business gross income and unincorporated business deductions of the partnership, for the year to which the credit is carried forward, attributable to such partners, by (ii) the sum of such proportionate interests owned by all partners for such taxable year. The amount by which the carryforward otherwise allowable exceeds the amount allowable pursuant to the preceding sentence shall not be a carryforward to any other taxable year. (3) The credit allowed under this subdivision shall not be allowed to a partner in an unincorporated business with respect to any tax paid by the unincorporated business under this chapter for any taxable year beginning before July first, nineteen hundred ninety-four. (4) Notwithstanding anything to the contrary, the credit allowable under this subdivision shall be taken after the credit allowed by subdivision (b) of this section is taken, but before any other credit allowed by this section is taken. (5) The commissioner of finance of the city of New York shall convene a working group, consisting of representatives of the department of finance of the city of New York and representatives of affected

industries, and other persons the commissioner deems appropriate, to study the treatment under the unincorporated business tax of income from investment and real estate activities and the impact of the credit permitted by this subdivision, including but not limited to cases where interests in a taxpayer are held by another taxpayer subject to tax on unincorporated business taxable income and the first taxpayer is entitled to claim a deduction for a net operating loss carryover and the second is not entitled to a corresponding deduction with the result, in certain cases, that the net income allocated to the second taxpayer may be subject to an effective rate of tax in excess of the rate imposed by this chapter. In addition, the working group shall also study the tax treatment of parking garages which are open or available to the general public and which also provide available space to tenants. In conducting such study, such working group shall take into account such factors as economic development, tax administration and other goals of tax policy and shall consider alternatives that would reduce disincentives for investing in corporations and other entities engaged in business in the city of New York, such as exempting income from investment activities from the tax on unincorporated business taxable income. The commissioner shall prepare a report based on the deliberations of the working group on or before April fifteenth, nineteen hundred ninety-five. (k) Credit relating to certain sales and compensating use taxes on certain services. (1) In addition to any other credit allowed by this section, a taxpayer shall be allowed a credit against the tax imposed by this chapter to be credited or refunded in the manner hereinafter provided in this subdivision. The amount of such credit shall be equal to the amount of sales and compensating use taxes imposed by section eleven hundred seven of the tax law during the taxpayer's taxable year (and the amount of any interest imposed in connection therewith) which was paid after January first, nineteen hundred ninety-five, less any credit or refund of such taxes (or such interest), with respect to the purchase or use by the taxpayer of the services described in subdivision (b) of section eleven hundred five-b of the tax law. (2) The credit allowed under this subdivision for any taxable year shall be deemed to be an overpayment of tax by the taxpayer to be credited or refunded, without interest, in accordance with the provisions of section 11-526 of this chapter. (3) Where the taxpayer receives a refund or credit of any tax imposed under section eleven hundred seven of the tax law (or of any interest imposed in connection therewith) for which the taxpayer had claimed a credit under this subdivision in a prior taxable year, the amount of such tax (or such interest) refund or credit shall be added to the tax imposed by this chapter, and such amount shall be subtracted in computing unincorporated business taxable income for the taxable year. (l) Lower Manhattan relocation and employment assistance credit. (1) In addition to any other credit allowed by this section, a taxpayer that has obtained the certifications required by chapter six-C of title twenty-two of the code shall be allowed a credit against the tax imposed by this chapter. The amount of the credit shall be the amount determined by multiplying three thousand dollars by the number of eligible aggregate employment shares maintained by the taxpayer during the taxable year with respect to eligible premises to which the taxpayer has relocated; provided, however, that no credit shall be allowed for the relocation of any retail activity or hotel services; provided, further, that no credit shall be allowed under this subdivision to any taxpayer that has elected pursuant to subdivision (d) of section 22-624 of the code to take such credit against a gross receipts tax imposed under chapter eleven of this title. For purposes of this subdivision, the

terms "eligible aggregate employment shares", "eligible premises", "relocate", "retail activity" and "hotel services" shall have the meanings ascribed by section 22-623 of the code. (2) The credit allowed under this subdivision with respect to eligible aggregate employment shares maintained with respect to eligible premises to which the taxpayer has relocated shall be allowed for the taxable year of the relocation and for any of the twelve succeeding taxable years during which eligible aggregate employment shares are maintained with respect to eligible premises; provided that the credit allowed for the twelfth succeeding taxable year shall be calculated by multiplying the number of eligible aggregate employment shares maintained with respect to eligible premises in the twelfth succeeding taxable year by the lesser of one and a fraction the numerator of which is such number of days in the taxable year of relocation less the number of days the taxpayer maintained employment shares in eligible premises in the taxable year of relocation and the denominator of which is the number of days in such twelfth succeeding taxable year during which such eligible aggregate employment shares are maintained with respect to such premises. (3) Except as provided in paragraph four of this subdivision, if the amount of the credit allowable under this subdivision for any taxable year exceeds the tax imposed for such year, the excess may be carried over, in order, to the five immediately succeeding taxable years and, to the extent not previously deductible, may be deducted from the taxpayer's tax for such years. (4) The credits allowed under this subdivision, against the tax imposed by this chapter for the taxable year of the relocation and for the four taxable years immediately succeeding the taxable year of such relocation, shall be deemed to be overpayments of tax by the taxpayer to be credited or refunded, without interest, in accordance with the provisions of section 11-526 of this chapter. For such taxable years, such credits or portions thereof may not be carried over to any succeeding taxable year. (5) The credit allowable under this subdivision shall be deducted after the credits allowed by subdivisions (b), (i) and (j) of this section, but prior to the deduction of any other credit allowed by this section. * (m) Film production credit. (1) allowance of credit. A taxpayer which is a qualified film production company as defined in this subdivision and which is subject to tax under this chapter, shall be allowed a credit against the unincorporated business income tax imposed pursuant to this chapter, in accordance with the provisions in paragraph (5) of this subdivision, to be computed as hereinafter provided. (2) The amount of the credit shall be the product of five percent and the qualified production costs paid or incurred in the production of a qualified film, provided that the qualified production costs (excluding post production costs) paid or incurred which are attributable to the use of tangible property or the performance of services at a qualified film production facility in the production of such qualified film equal or exceed seventy-five percent of the production costs (excluding post production costs) paid or incurred which are attributable to the use of tangible property or the performance of services at any film production facility within and without the city of New York in the production of such qualified film. However, if the qualified production costs (excluding post production costs) which are attributable to the use of tangible property or the performance of services at a qualified film production facility in the production of such qualified film are less than three million dollars, then the portion of the qualified

productions costs attributable to the use of tangible property or the performance of services in the production of such qualified film outside of a qualified film production facility shall be allowed only if the shooting days spent in the city of New York outside of a film production facility in the production of such qualified film equal or exceed seventy-five percent of the total shooting days spent within and without the city of New York outside of a film production facility in the production of such qualified film. The credit shall be allowed for the taxable year in which the production of such qualified film is completed. (3) No qualified production costs used by a taxpayer either as the basis for the allowance of the credit provided for under this subdivision or used in the calculation of the credit provided for under this subdivision shall be used by such taxpayer to claim any other credit allowed pursuant to this title. (4) Definitions. As used in this subdivision, the following terms shall have the following meanings: (A) "Qualified production costs" means production costs only to the extent such costs are attributable to the use of tangible property or the performance of services within the city of New York directly and predominantly in the production (including pre-production and post production) of a qualified film. (B) "Production costs" means any costs for tangible property used and services performed directly and predominantly in the production (including pre-production and post production) of a qualified film. "Production costs" shall not include (i) costs for a story, script or scenario to be used for a qualified film and (ii) wages or salaries or other compensation for writers, directors, including music directors, producers and performers (other than background actors with no scripted lines). "Production costs" generally include technical and crew production costs, such as expenditures for film production facilities, or any part thereof, props, makeup, wardrobe, film processing, camera, sound recording, set construction, lighting, shooting, editing and meals. (C) "Qualified film" means a feature-length film, television film, television pilot and/or each episode of a television series, regardless of the medium by means of which the film, pilot or episode is created or conveyed. "Qualified film" shall not include (i) a documentary film, news or current affairs program, interview or talk program, "how-to" (i.e., instructional) film or program, film or program consisting primarily of stock footage, sporting event or sporting program, game show, award ceremony, film or program intended primarily for industrial, corporate or institutional end-users, fundraising film or program, daytime drama (i.e., daytime "soap opera"), commercials, music videos or "reality" program, or (ii) a production for which records are required under section 2257 of title 18, United States code, to be maintained with respect to any performer in such production (reporting of books, films, etc. with respect to sexually explicit conduct). (D) "Film production facility" shall mean a building and/or complex of buildings and their improvements and associated back-lot facilities in which films are or are intended to be regularly produced and which contain at least one sound stage. (E) "Qualified film production facility" shall mean a film production facility in the city of New York, which contains at least one sound stage having a minimum of seven thousand square feet of contiguous production space.

(F) "Qualified film production company" is an unincorporated business which is principally engaged in the production of a qualified film and controls the qualified film during production. (5) Application of credit. (A) If the amount of the credit allowable under this subdivision for any taxable year exceeds the taxpayer's tax for such year, fifty percent of the excess shall be treated as an overpayment of tax to be credited or refunded as provided in section 11-526 of this chapter, provided, however, that notwithstanding the provisions of section 11-528 of this chapter, no interest shall be paid thereon. The balance of such credit not credited or refunded in such taxable year may be carried over to the immediately succeeding taxable year and may be deducted from the taxpayer's tax for such year. The excess, if any, of the amount of the credit over the tax for such succeeding year shall be treated as an overpayment of tax to be credited or refunded in accordance with the provisions of section 11-526 of this chapter, provided, however, that notwithstanding the provisions of section 11-528 of this chapter, no interest shall be paid thereon. (B) Notwithstanding anything contained in this section to the contrary, the credit provided by this subdivision shall be allowed against the taxes authorized by this chapter for the taxable year after reduction by all other credits permitted by this chapter. * NB Expired August 20, 2008 (n) Industrial business zone tax credit. (1) For taxable years beginning on or after January first, two thousand six, in addition to any other credit allowed by this section, an eligible business that first enters into a binding contract on or after July first, two thousand five to purchase or lease eligible premises to which it relocates shall be allowed a one-time credit against the tax imposed by this chapter to be credited or refunded in the manner hereinafter provided in this subdivision. The amount of such credit shall be one thousand dollars per full-time employee; provided, however, that the amount of such credit shall not exceed the lesser of actual relocation costs or one hundred thousand dollars. (2) When used in this subdivision, the following terms shall have the following meanings: "Eligible business" means any business subject to tax under this chapter that (A) has been conducting substantial business operations and engaging primarily in industrial and manufacturing activities at one or more locations within the city of New York or outside the state of New York continuously during the twenty-four consecutive full months immediately preceding relocation, (B) has leased the premises from which it relocates continuously during the twenty-four consecutive full months immediately preceding relocation, (C) first enters into a binding contract on or after July first, two thousand five to purchase or lease eligible premises to which such business will relocate, and (D) will be engaged primarily in industrial and manufacturing activities at such eligible premises. "Eligible premises" means premises located entirely within an industrial business zone. For any eligible business, an industrial business zone tax credit shall not be granted with respect to more than one eligible premises. "Full-time employee" means (A) one person gainfully employed in an eligible premises by an eligible business where the number of hours required to be worked by such person is not less than thirty-five hours per week; or (B) two persons gainfully employed in an eligible premises by an eligible business where the number of hours required to be worked by each such person is more than fifteen hours per week but less than thirty-five hours per week.

"Industrial business zone" means an area within the city of New York established pursuant to section 22-626 of this code. "Industrial business zone tax credit" means a credit, as provided for in this subdivision, against a tax imposed under this chapter. "Industrial and manufacturing activities" means activities involving the assembly of goods to create a different article, or the processing, fabrication, or packaging of goods. Industrial and manufacturing activities shall not include waste management or utility services. "Relocation" means the physical relocation of furniture, fixtures, equipment, machinery and supplies directly to an eligible premises, from one or more locations of an eligible business, including at least one location at which such business conducts substantial business operations and engages primarily in industrial and manufacturing activities. For purposes of this subdivision, the date of relocation shall be (A) the date of the completion of the relocation to the eligible premises or (B) ninety days from the commencement of the relocation to the eligible premises, whichever is earlier. "Relocation costs" means costs incurred in the relocation of such furniture, fixtures, equipment, machinery and supplies, including, but not limited to, the cost of dismantling and reassembling equipment and the cost of floor preparation necessary for the reassembly of the equipment. Relocation costs shall include only such costs that are incurred during the ninety-day period immediately following the commencement of the relocation to an eligible premises. Relocation costs shall not include any costs for structural or capital improvements or items purchased in connection with the relocation. (3) The credit allowed under this subdivision for any taxable year shall be deemed to be an overpayment of tax by the taxpayer to be credited or refunded without interest, in accordance with the provisions of section 11-526 of this chapter. (4) The number of full-time employees for the purposes of calculating an industrial business zone tax credit shall be the average number of full-time employees, calculated on a weekly basis, employed in the eligible premises by the eligible business in the fifty-two week period immediately following relocation. (5) The credit allowed under this subdivision must be taken by the taxpayer in the taxable year in which such fifty-two week period ends. (6) For the purposes of calculating entire net income in the taxable year that an industrial business zone tax credit is allowed, a taxpayer must add back the amount of the credit allowed under this subdivision, to the extent of any relocation costs deducted in the current taxable year or a prior taxable year in calculating federal taxable income. (7) The credit allowed under this subdivision shall not be granted for an eligible business for more than one relocation. Notwithstanding the foregoing, an industrial business zone tax credit allowed under this subdivision shall not be granted if the eligible business receives benefits pursuant to chapter six-B or six-C of title twenty-two of this code, through a grant program administered by the business relocation assistance corporation, or through the New York city printers relocation fund grant. (8) The commissioner of finance is authorized to promulgate rules and regulations and to prescribe forms necessary to effectuate the purposes of this subdivision. (o) Biotechnology Credit. (a)(1) A taxpayer that is a qualified emerging technology company, engages in biotechnologies, and meets the eligibility requirements of this subdivision, shall be allowed a credit against the tax imposed by this subchapter. The amount of credit shall be equal to the sum of the amounts specified in subparagraphs (3), (4),

(5) of this paragraph, subject to the limitations in subparagraph (7) of this paragraph and paragraph (b) of this subdivision. For the purposes of this subdivision, "qualified emerging technology company" shall mean a company located in city: (A) whose primary products or services are classified as emerging technologies and whose total annual product sales are ten million dollars or less; or (B) a company that has research and development activities in city and whose ratio of research and development funds to net sales equals or exceeds the average ratio for all surveyed companies classified as determined by the National Science Foundation in the most recent published results from its Survey of Industry Research and Development, or any comparable successor survey as determined by the department, and whose total annual product sales are ten million dollars or less. For the purposes of this subdivision, the definition of research and development funds shall be the same as that used by the National Science Foundation in the aforementioned survey. For the purposes of this subdivision, "biotechnologies" shall mean the technologies involving the scientific manipulation of living organisms, especially at the molecular and/or the sub-molecular genetic level, to produce products conducive to improving the lives and health of plants, animals, and humans; and the associated scientific research, pharmacological, mechanical, and computational applications and services connected with these improvements. Activities included with such applications and services shall include, but not be limited to, alternative mRNA splicing, DNA sequence amplification, antigenetic switching bioaugmentation, bioenrichment, bioremediation, chromosome walking, cytogenetic engineering, DNA diagnosis, fingerprinting, and sequencing, electroporation, gene translocation, genetic mapping, site-directed mutagenesis, bio-transduction, bio-mechanical and bio-electrical engineering, and bio-informatics. (2) An eligible taxpayer shall (A) have no more than one hundred full-time employees, of which at least seventy-five percent are employed in the city, (B) have a ratio of research and development funds to net sales, as referred to in section thirty-one hundred two-e of the public authorities law, which equals or exceeds six percent during the calendar year ending with or within the taxable year for which the credit is claimed, and (C) have gross revenues, along with the gross revenues of its "affiliates" and "related members" not exceeding twenty million dollars for the calendar year immediately preceding the calendar year ending with or within the taxable year for which the credit is claimed. For the purposes of this subdivision, "affiliates" shall mean those corporations that are members of the same affiliated group (as defined in section fifteen hundred four of the internal revenue code) as the taxpayer. For the purposes of this subdivision, "related members" shall mean a person, corporation, or other entity, including an entity that is treated as a partnership or other pass-through vehicle for purposes of federal taxation, whether such person, corporation or entity is a taxpayer or not, where one such person, corporation or entity, or set of related persons, corporations or entities, directly or indirectly owns or controls a controlling interest in another entity. Such entity or entities may include all taxpayers under chapters six, eleven and seventeen of this title, and subchapters two and three of this chapter. A controlling interest shall mean, in the case of a corporation, either thirty percent or more of the total combined voting power of all classes of stock of such corporation, or thirty percent or more of the capital, profits or beneficial interest in such voting stock of such corporation; and in the case of a partnership, association, trust or other entity, thirty percent or more of the capital, profits or beneficial interest in such partnership, association, trust or other entity.

(3) An eligible taxpayer shall be allowed a credit for eighteen per centum of the cost or other basis for federal income tax purposes of research and development property that is acquired by the taxpayer by purchase as defined in section 179(d) of the internal revenue code and placed in service during the calendar year that ends with or within the taxable year for which the credit is claimed. Provided, however, for the purposes of this paragraph only, an eligible taxpayer shall be allowed a credit for such percentage of the (A) cost or other basis for federal income tax purposes for property used in the testing or inspection of materials and products, (B) the costs or expenses associated with quality control of the research and development, (C) fees for use of sophisticated technology facilities and processes, (D) fees for the production or eventual commercial distribution of materials and products resulting from the activities of an eligible taxpayer as long as such activities fall under activities relating to biotechnologies. The costs, expenses and other amounts for which a credit is allowed and claimed under this paragraph shall not be used in the calculation of any other credit allowed under this subchapter. For the purposes of this subdivision, "research and development property" shall mean property that is used for purposes of research and development in the experimental or laboratory sense. Such purposes shall not be deemed to include the ordinary testing or inspection of materials or products for quality control, efficiency surveys, management studies, consumer surveys, advertising, promotions, or research in connection with literary, historical or similar projects. (4) An eligible taxpayer shall be allowed a credit for nine per centum of qualified research expenses paid or incurred by the taxpayer in the calendar year ending with or within the taxable year for which the credit is claimed. For the purposes of this subdivision, "qualified research expenses" shall mean expenses associated with in-house research and processes, and costs associated with the dissemination of the results of the products that directly result from such research and development activities; provided, however, that such costs shall not include advertising or promotion through media. In addition, costs associated with the preparation of patent applications, patent application filing fees, patent research fees, patent examinations fees, patent post allowance fees, patent maintenance fees, and grant application expenses and fees shall qualify as qualified research expenses. In no case shall the credit allowed under this paragraph apply to expenses for litigation or the challenge of another entity's intellectual property rights, or for contract expenses involving outside paid consultants. (5) An eligible taxpayer shall be allowed a credit for qualified high-technology training expenditures as described in this paragraph paid or incurred by the taxpayer during the calendar year that ends with or within the taxable year for which the credit is claimed. (A) The amount of credit shall be one hundred percent of the training expenses described in subparagraph (C) of this paragraph, subject to a limitation of no more than four thousand dollars per employee per calendar year for such training expenses. (B) Qualified high-technology training shall include a course or courses taken and satisfactorily completed by an employee of the taxpayer at an accredited, degree granting post-secondary college or university in city that (i) directly relates to biotechnology activities, and (ii) is intended to upgrade, retrain or improve the productivity or theoretical awareness of the employee. Such course or courses may include, but are not limited to, instruction or research relating to techniques, meta, macro, or micro-theoretical or practical

knowledge bases or frontiers, or ethical concerns related to such activities. Such course or courses shall not include classes in the disciplines of management, accounting or the law or any class designed to fulfill the discipline specific requirements of a degree program at the associate, baccalaureate, graduate or professional level of these disciplines. Satisfactory completion of a course or courses shall mean the earning and granting of credit or equivalent unit, with the attainment of a grade of "B" or higher in a graduate level course or courses, a grade of "C" or higher in an undergraduate level courses or courses, or a similar measure of competency for a course that is not measured according to a standard grade formula. (C) Qualified high-technology training expenditures shall include expenses for tuition and mandatory fees, software required by the institution, fees for textbooks or other literature required by the institution offering the course or courses, minus applicable scholarships and tuition or fee waivers not granted by the taxpayer or any affiliates of the taxpayer, that are paid or reimbursed by the taxpayer. Qualified high-technology expenditures do not include room and board, computer hardware or software not specifically assigned for such course or courses, late-charges, fines or membership dues and similar expenses. Such qualified expenditures shall not be eligible for the credit provided by this section unless the employee for whom the expenditures are disbursed is continuously employed by the taxpayer in a full-time, full-year position primarily located at a qualified site during the period of such coursework and lasting through at least one hundred eighty days after the satisfactory completion of the qualifying course-work. Qualified high-technology training expenditures shall not include expenses for in-house or shared training outside of a city higher education institution or the use of consultants outside of credit granting courses, whether such consultants function inside of such higher education institution or not. (D) If a taxpayer relocates from an academic business incubator facility partnered with an accredited post-secondary education institution located within city, which provides space and business support services to taxpayers, to another site, the credit provided in this subdivision shall be allowed for all expenditures referenced in subparagraph (C) of this paragraph paid or incurred in the two preceding calendar years that the taxpayer was located in such an incubator facility for employees of the taxpayer who also relocate from said incubator facility to such city site and are employed and primarily located by the taxpayer in city. Such expenditures in the two preceding years shall be added to the amounts otherwise qualifying for the credit provided by this subdivision that were paid or incurred in the calendar year that the taxpayer relocates from such a facility. Such expenditures shall include expenses paid for an eligible employee who is a full-time, full-year employee of said taxpayer during the calendar year that the taxpayer relocated from an incubator facility notwithstanding (i) that such employee was employed full or part-time as an officer, staff-person or paid intern of the taxpayer when such taxpayer was located at such incubator facility or (ii) that such employee was not continuously employed when such taxpayer was located at the incubator facility during the one hundred eighty day period referred to in subparagraph (C) of this paragraph, provided such employee received wages or equivalent income for at least seven hundred fifty hours during any twenty-four month period when the taxpayer was located at the incubator facility. Such expenditures shall include payments made to such employee after the taxpayer has relocated from the incubator facility for qualified expenditures if such payments are made to reimburse an employee for

expenditures paid by the employee during such two preceding years. The credit provided under this paragraph shall be allowed in any taxable year that the taxpayer qualifies as an eligible taxpayer. (E) For purposes of this subdivision the term "academic year" shall mean the annual period of sessions of a post-secondary college or university. (F) For the purposes of this subdivision the term "academic incubator facility" shall mean a facility providing low-cost space, technical assistance, support services and educational opportunities, including but not limited to central services provided by the manager of the facility to the tenants of the facility, to an entity located in city. Such entity's primary activity must be in biotechnologies, and such entity must be in the formative stage of development. The academic incubator facility and the entity must act in partnership with an accredited post-secondary college or university located in city. An academic incubator facility's mission shall be to promote job creation, entrepreneurship, technology transfer, and provide support services to incubator tenants, including, but not limited to, business planning, management assistance, financial-packaging, linkages to financing services, and coordinating with other sources of assistance. (6) An eligible taxpayer may claim credits under this subdivision for three consecutive years. In no case shall the credit allowed by this subdivision to a taxpayer exceed two hundred fifty thousand dollars per calendar year for eligible expenditures made during such calendar year. (7) The credit allowed under this subdivision for any taxable year shall not reduce the tax due for such year to less than the amount computed in subdivision (a) of this section. Provided, however, if the amount of credit allowed under this subdivision for any taxable year reduces the tax to such amount, any amount of credit not deductible in such taxable year shall be treated as an overpayment of tax to be credited or refunded in accordance with the provisions of section 11-526 of this chapter; provided, however, that notwithstanding the provisions of section 11-528 of this chapter, no interest shall be paid thereon. (8) The credit allowed under this subdivision shall only be allowed for taxable years beginning on or after January first, two thousand ten and before January first, two thousand thirteen. (b)(1) The percentage of the credit allowed to a taxpayer under this subdivision in any calendar year shall be: (A) If the average number of individuals employed full time by a taxpayer in the city during the calendar year that ends with or within the taxable year which the credit is claimed is at least one hundred five percent of the taxpayer's base year employment, one hundred percent, except that in no case shall the credit allowed under this clause exceed two hundred fifty thousand dollars per calendar year. Provided, however, the increase in base year employment shall not apply to a taxpayer allowed a credit under this subdivision that was (I) located outside of the city, (II) not doing business, or (III) did not have any employees, in the year preceding the first year that the credit is claimed. Any such taxpayer shall be eligible for one hundred percent of the credit for the first calendar year that ends with or within the taxable year for which the credit is claimed, provided that such taxpayer locates in the city, begins doing business in the city or hires employees in the city during such calendar year and is otherwise eligible for the credit pursuant to the provisions of this subdivision. (B) If the average number of individuals employed full time by a taxpayer in the city during the calendar year that ends with or within the taxable year for which the credit is claimed is less than one hundred five percent of the taxpayer's base year employment, fifty

percent, except that in no case shall the credit allowed under this clause exceed one hundred twenty five thousand dollars per calendar year. In the case of an entity located in city receiving space and business support services by an academic incubator facility, if the average number of individuals employed full time by such entity in the city during the calendar year in which the credit allowed under this subdivision is claimed is less than one hundred five percent of the taxpayer's base year employment, the credit shall be zero. (2) For the purposes of this subdivision, "base year employment" means the average number of individuals employed full-time by the taxpayer in the city in the year preceding the first calendar year that ends with or within the taxable year for which the credit is claimed. (3) For the purposes of this subdivision, average number of individuals employed full-time shall be computed by adding the number of such individuals employed by the taxpayer at the end of each quarter during each calendar year or other applicable period and dividing the sum so obtained by the number of such quarters occurring within such calendar year or other applicable period. (4) Notwithstanding anything contained in this section to the contrary, the credit provided by this subdivision shall be allowed against the taxes authorized by this chapter for the taxable year after reduction by all other credits permitted by this chapter.

DCarsonCPA.com your link to NYC based services on Accounting, Taxation, Advisory, Audits, Compliance and more. We follow the lines of Government Regulations and Industry Standards to meet Clients at the many intersections of Financial Decision Making. Learn more at http://www.dcarsoncpa.com/ or e-mail us at info@dcarsoncpa.com .

Checking in with the NYC Updates from Government at 1/22/11

2012-01-22T21:02:00.000-08:00

Checking in with the Updates from NYC:

Comptroller's Office:

2011 SHAREOWNER INITIATIVES OF THE NEW YORK CITY PENSION FUNDS

LIU EXPANDS PENSION FUNDS’ COMMITMENT TO MINORITY AND WOMEN INVESTMENT MANAGERS BY $500 MILLION

also see our post on 2011 NYC CAFR - the City Annual Report for the year ended 6/30/11 has been released.
Executive Branch:

Mayor Bloomberg Meets With Teachers and Students to Discuss Next Steps in Education Reform (1/18/12)

Mayor Bloomberg Delivers 2012 State of the City Address (1/12/12)

Mayor Bloomberg, Speaker Quinn Announce More Than 500 Restaurants Have Gone Through the City's New Business Acceleration Program That Speeds up Job Creation (1/3/12)

Legislative Branch (New York City Council):

Council votes on resolution authorizing the Council to file suit against the Department of Homeless Services

Speaker Christine C. Quinn and Council Members Announce New York City Living Wage Legislation.
COUNCIL VOTES TO EASE PARKING REGULATIONS

Judicial (NYS Unified Courts):

NYS Unified Courts 2010 Annual Report of the Chief Administrator (1/13/12)

NYS Courts Intro guide

DCarsonCPA.com your CPA and Advisory Services solution set for Business, Non Profit and Individual Financial Decision Makers. We work to support your needs on Financials and to keep you better informed on opportunities for involvement in Our Government. We all can play an important part in helping Our Government at the Federal, State and Local levels through understanding the events that will ultimately impact Our Financials and Our Quality of Life.

In as much as Taxation is mandatory, a key part of funding Our Government - it is often forgotten that Taxes are an investment in the Public Trust - a Trust that functions better with checks and balances. Your awareness is a key part of building a better Future for NYC by following decision making that is happening today. Stay informed and be a part of decision making to help support a better future for NYC.

Checking in with NYC Financials - The 2011 CAFR the Comprehensive Annual Financial Report of NYC

2012-01-22T20:40:00.000-08:00

Checking in with NYC Financials:

New York City's Financial Year End is 6/30/11, these Financials became available subsequent to our last check in.

COMPREHENSIVE ANNUAL REPORT FOR FY11

CAFR 2011

DCarsonCPA.com your CPA and Advisory Services Solution Set connecting the line on Government, Industry, Business, Non Profit and Individual Financials for Decision Makers.

MTA Audited Financials for 2010 and 2Q11 Financial Review

2011-11-12T08:52:00.000-08:00

During a Round of Public Hearings (earlier this year) for the MTA considering fair hikes we wanted to consider with you MTA Financials and planned for a later time to return and do so, this seemed like a good time to check back in on this.

Most of us have an up and down relationship with Public Transportation which at it's optimal performance can help us efficiently move, save resources, and better connect in the Urban Environment. Like any large organization there is always room for continued improvement and the interaction of an interested audience can go a long way in helping the MTA more efficiently reach its service goal to better transport us all with efficiency.

A solid starting point for considering MTA Finances is realizing the Federal, State and Local Funding are components of supporting the MTA in addition to the Fares we pay - it is a subsidized service, but like any Organization the process is likely to work with more efficiency in meeting it's goal when we pay attention to Financials, Budgets and Plans and consider ways we can help to be more interactively involved. The questions you've had, the solutions you've considered can all help to bring more efficiency to MTA operations and it's in your hands to better connect with the Government and MTA leadership to communicate the ways we can all assist in improving MTA and supporting Fiscally Responsible Financial Management and Operational Efficiency in Public Transit.

To this end in learning more about MTA Operations it's a great start to read Financials to see where Operations and Efficiency Meet or may need additional assistance.

We share with you Audited 2010 MTA Financials and 2Q11 Reviewed MTA Financials, as you review them it is helpful to understand that Audited Financials delivered by CPAs provide a higher degree of reliability than Review. Audited Financials have met the higher benchmark of Reasonable Assurance from a CPA, that those Audited Financials are Free from Material Misstatements, Errors, Omissions or other defects (it is not a Guarantee). Reviewed Financials are subject to a substantially lesser CPA review process based on observational and analytical analysis. Given the choice you should always focus more on the Audited Financials that meet the greater standard. You can better follow the difference between an Audit and Review by reading and contrasting the wordings in Each CPA Report below to better follow what an Audit or a Review is or is not. To help you find them below they are called the Independent Auditors Report and the Independent Accountants Review Report respectively and are signed by the CPA Firm in the Documents below.

See also DCarsonCPA The Empire Line for info on MTA Budgets 2012 - 2015: http://dcarsoncpa-theempireline.blogspot.com/2011/11/nys-ct-mta-financial-plan-2012-2015.html

MTA_Q2_ReviewReport

NYS MTA Audited Consolidated 2010 Financials

Checking in with NYC Government at 11/7/11

2011-11-07T17:01:00.000-08:00

At the Mayors Office:

Mayor Bloomberg, Speaker Quinn, Housing Commissioner Wambua and Gotham Organization Break Ground On Largest New Construction Project in Manhattan Under City's Housing http://www.nyc.gov/portal/site/nycgov/menuitem.c0935b9a57bb4ef3daf2f1c701c789a0/index.jsp?pageID=mayor_press_release&catID=1194&doc_name=http%3A%2F%2Fwww.nyc.gov%2Fhtml%2Fom%2Fhtml%2F2011b%2Fpr397-11.html&cc=unused1978&rc=1194&ndi=1

Mayor Bloomberg Convenes International Summit On Business Innovation, Entrepreneurship and Job Creation Sponsored by New York City Global Partners at Columbia University http://www.nyc.gov/portal/site/nycgov/menuitem.c0935b9a57bb4ef3daf2f1c701c789a0/index.jsp?pageID=mayor_press_release&catID=1194&doc_name=http%3A%2F%2Fwww.nyc.gov%2Fhtml%2Fom%2Fhtml%2F2011b%2Fpr392-11.html&cc=unused1978&rc=1194&ndi=1

Mayors Office: http://www.nyc.gov/portal/site/nycgov/menuitem.beb0d8fdaa9e1607a62fa24601c789a0/

Mayoral & City Agencies http://www.nyc.gov/portal/site/nycgov/menuitem.db6d44f040275edd6bce0ed101c789a0

NYC Comptrollers Office:

COMPTROLLER LIU ISSUES NEW YORK CITY’S COMPREHENSIVE
ANNUAL FINANCIAL REPORT FOR FISCAL YEAR 2011 http://comptroller.nyc.gov/press/2011_releases/pr11-11-084.shtm

The CAFR of NYC for 2011 has not been posted online yet since it is still in Draft Version and it will be several more months for the Final CAFR for 2011 report to be available in Final Version as per Comptrollers Office. The CAFR is the Comprehensive Annual Financial Report of NYC - the Financials of Our City.

New York State published it's 3/31/11 CAFR in support of Transparency and you can find it here:

http://www.osc.state.ny.us/finance/finreports/cafr11.pdf

As we understand it currently these are the June 30, 2010 NYC Financials :

http://www.comptroller.nyc.gov/bureaus/acc/cafr-pdf/cafr2010.pdf

The 2011 NYC CAFR will be made available when it reaches it's final version in a few months per NYC Comptrollers. In a point of observation since Annual Financials are historical documents timelines are important for consituents knowledge of NYC Government. At present the Financials which are dated 6/30/11 appear to be on a 6 Month turnaround timeline for Annual Financials resulting in what would be from a Corporate view point stale data for analysis purposes.

If you have been following with us, you know that we care about Federal, State and Local Financials and value timely data for Decision Makers.

A Goal for a Improvements:
From the outside looking in, there appears to be a good opportunity for reengineering timelines on NYC Financials. If there is a background process that is holding up NYC Financials, that process should be rengineered. Timely Financials for NYC help NYC voters, the constituents of NYC to be better connected to and aware of City Financials complete with Challenges and Opportunitities for improvement.

As a point of Comparison Our Federal Government issues Federal Financials on 9/30/11 and GAO has 45 days to issue a report thereafter. While the Federal Government has greater resources, NYC Financials are also very important and warrant a tight timeline to issuance.

We care about NYC and part of being better connected to government is being able to connect with the financials on a timely basis to consider decisions in Public Finance, this is important for ALL NYC Residents.

At City Council (the NYC Legislative Branch):

COUNCIL VOTES TO INCREASE COMMUNITY BOARD INPUT ON BICYCLE LANES INSTALLATION http://council.nyc.gov/html/releases/110311stated.shtml

Speaker Quinn Outlines Nine Point Job Creation Strategy http://council.nyc.gov/html/releases/101811abny.shtml

About City Council http://council.nyc.gov/html/about/about.shtml

NYC Judicial Branch:

New York State Unified Courts

Still reviewing - will update in the near term....

NYC Elections Board - Becoming A Candidate

2011-11-07T15:10:00.000-08:00

Most of us have some insights to things we'd like to fix in areas of City Government, few will ultimately take that step to enter the arena to make a difference by actually making a run for a political office in New York City. If you are inclined to run for office, the NYC Board of Elections has provided this how to guide on how to get there from NYS:

http://www.vote.nyc.ny.us/candidates.html (NYS Board of Elections)

In the interest of sharing information that you may find important we are sharing it for you here.

The Next Link is to the NYC Board of Elections for more General information http://www.vote.nyc.ny.us/.

IRC Federal Taxation of Rents and Royalties, Real Estate, Rentals and Authors.

2011-10-30T13:27:00.000-07:00

The Borough Lines is primarily Focused on New York City and related Governance, but since Rentals and Royalties can be very relevant to New York City Residents we are bringing in a brief view of IRS Tax law pertaining to Rent and Royalties from the IRC.

§ 1.61-8 Rents and royalties.

(a) In general. Gross income includes rentals received or accrued for the occupancy of real estate or the use of personal property. For the inclusion of rents in income for the purpose of the retirement income credit, see section 37 and the regulations thereunder. Gross income includes royalties. Royalties may be received from books, stories, plays, copyrights, trademarks, formulas, patents, and from the exploitation of natural resources, such as coal, gas, oil, copper, or timber. Payments received as a result of the transfer of patent rights may under some circumstances constitute capital gain instead of ordinary income. See section 1235 and the regulations thereunder. For special rules for certain income from natural resources, see Subchapter I (section 611 and following), Chapter 1 of the Code, and the regulations thereunder.

(b) Advance rentals; cancellation payments. Except as provided in section 467 and the regulations thereunder and except as otherwise provided by the Commissioner in published guidance (see §601.601(d)(2) of this chapter), gross income includes advance rentals, which must be included in income for the year of receipt regardless of the period covered or the method of accounting employed by the taxpayer. An amount received by a lessor from a lessee for cancelling a lease constitutes gross income for the year in which it is received, since it is essentially a substitute for rental payments. As to amounts received by a lessee for the cancellation of a lease, see section 1241 and the regulations thereunder.

(c) Expenditures by lessee. As a general rule, if a lessee pays any of the expenses of his lessor such payments are additional rental income of the lessor. If a lessee places improvements on real estate which constitute, in whole or in part, a substitute for rent, such improvements constitute rental income to the lessor. Whether or not improvements made by a lessee result in rental income to the lessor in a particular case depends upon the intention of the parties, which may be indicated either by the terms of the lease or by the surrounding circumstances. For the exclusion from gross income of income (other than rent) derived by a lessor of real property on the termination of a lease, representing the value of such property attributable to buildings erected or other improvements made by a lessee, see section 109 and the regulations thereunder. For the exclusion from gross income of a lessor corporation of certain of its income taxes on rental income paid by a lessee corporation under a lease entered into before January 1, 1954, see section 110 and the regulations thereunder.

[T.D. 6500, 25 FR 11402, Nov. 26, 1960; 25 FR 14021, Dec. 31, 1960, as amended by T.D. 8820, 64 FR 26851, May 18, 1999; T.D. 9135, 69 FR 41192, July 8, 2004]

As of Read Date 10/30/11 - ALL US TAX Laws are subject to change and update and you must review as filing your return and reporting for Tax Purposes.

DCarsonCPA.com is the web presence of Dean T. Carson II, CPA an NYC Based Traditional and Strategic CPA Practice working to better connect the line between Government, Industry, Business and Individual Financial Decision Maker and here to assist on your Accounting, Tax, Advisory, Operations, Analysis, Research , and other needs. We use our skills in Financials and Accounting to connect and support Financial Decision Makers. Learn more at http://www.dcarsoncpa.com/ or e-mail us at info@dcarsoncpa.com .

A Top Side Look at NYC Politics - Thought Groups / Think Tanks, Lobbies, PACs and more.

2011-10-27T18:56:00.000-07:00

NYC is a complicated City of 8 + Million Residents and an under counted Populace in Queens that will hurt us for years to come on the US Census. As a CPA Practice our expertise is not really about Lobbying or Political Action although we would certainly use our understanding to support Client interests if we see place where Clients from the Business, Non Profit or Individual Sector are being hurt by policies.

Our overall Focus is non-partisan research to present information and let you decide, and the human acknowledgement that there may be the occasional times where we are compelled to speak out from an angle of what we believe to be a centrist view point. It's not an easy role to stand for principles so we appreciate that the role of Legislators and elected officials is a challenging one. In Our case a fair role that we fit would most likely be to facilitate communication between financial and community decision makers. You'll have to know that we come from a Family that is half Medicine, Altruism and Social Good and Half Strict business so we probably land centrist in view points. But wherever we land it's about bringing something better - it's about how we work together to build a better future for the Economy and the Community.

Our goal is to better connect the line between Government, Business, Non Profit and Individual Financial Decision Makers and to be well versed in the points for ALL where your business meets Regulations and potentially opportunities interfacing with Government - ie Grants for Non Profits, RFPs for Business, Knowledge of Law for Businesses and how Individuals can better connect to services that support needs. It's similar to the Banking Service Model where we are trying to be broad based in knowledge so that for any client need we meet we can be here for you with a Solution Set of Opportunities whether your role is Financial Decision Making in Government, Industry, Businesses, Non Profits of Individual Roles.

We start to leave this analysis with a look at some resources:

Manhattan Institute - Conservative Think Tank, provided ideas for the Giuliani Administration in reforming New York in some areas.

Still researching on other competing thought groups for more open ideas to represent in balance opinion groups, and will update here as soon as we find it (if you know the groups you are invited to tell us so we can update). In the weeks ahead we will be working to back fill this.

PACs:

PACs are Political Action Committees that are funded to lead Legislative Causes that can influence the Rules and Laws we all live with so it is best to be aware of how causes work and to understand for better or worse how these causes interact with your own needs. Knowledge of PACs can help you be more effective in supporting the needs of your Family, your Non Profit or Business Cause through Elections and related Decision Making activities that ultimately impact Family Finances.

Courtesy of NYS information about PACS http://www.elections.state.ny.us/PAC.html

Courtesy NYC Campaign Finance Board http://www.nyccfb.info/reports/pclt_13.htm?sm=press_pacList

New York City Lobbying Group Registration:

NYC Lobbying Bureau at the City Clerks Office. A Comprehensive resource on registered Lobbyists including Laws regulating Lobbying in NYC.

2011 List - All NYC Lobbying Organizations http://www.nyc.gov/lobbyistsearch/directory.jsp
search by year to find Lobbyists - a brief overview exhibits a cross section of Businesses and Non Profits, Unions, Healthcare and more.

NYC Lobbying Group Registration provides a good research Start Point to back fill research on Lobbying Groups that are at work in NYC and to understand their interests and causes.

A Resource for learning more in general at the Federal Level and I have seen some NYC lobbying listed there is:

OpenSecrets.org this is their own information on who OpenSecrets.org is:

Our Mission: Inform, Empower & Advocate

The Center for Responsive Politics is the nation's premier research group tracking money in U.S. politics and its effect on elections and public policy. Nonpartisan, independent and nonprofit, the organization aims to create a more educated voter, an involved citizenry and a more transparent and responsive government. In short, the Center's mission is to:

Inform citizens about how money in politics affects their lives
Empower voters and activists by providing unbiased information
Advocate for a transparent and responsive government

We pursue our mission largely through our award-winning website, OpenSecrets.org, which is the most comprehensive resource for federal campaign contributions, lobbying data and analysis available anywhere. And for other organizations and news media, the Center's exclusive data powers their online features tracking money in politics — counting cash to make change.

Our General View Point is that it's important to understand the full cross section of how government works and it's no secret that Lobbying is part of the process. In Fact one of the great challenges in Government at Large is the Balancing of citizens interests with the interests of better financed groups. It's an important issue of balance because the interests that most need protection are the rights of individuals who may in fact may have less money and less representation in their needs. In Some ways this is the important role Non Profits can fill to help.

Since we are not experts in this area we are leaving this piece in an open status and are interested in your productive additions to knowledge here. As we receive feedback from our request for help on this article we will update here or in future articles,

DCarsonCPA.com is the web presence of Dean T. Carson II, CPA here for you on Accounting, Taxes, Advisory, Consulting, Operations and more. Supporting the better connection of Government, Industry, Business, Non Profit and Individual Financial Decision Making and occasionally looking at Quality of Life issues that ultimately impact us all. We care about your Finances, Our Families, the Economy and the Nations Future on all of the levels where we can help through better connecting Local, State, and National Financial Decision Making Information. Learn more about services at www.dcarsoncpa.com or reach us at info@dcarsoncpa.com .

NYS Article 28 - Sales Taxes § 1105 Imposition of Sales Tax

2011-10-25T20:51:00.000-07:00

§ 1105. Imposition of sales tax. On and after June first, nineteen hundred seventy-one, there is hereby imposed and there shall be paid a tax of four percent upon: (a) The receipts from every retail sale of tangible personal property, except as otherwise provided in this article. (b) (1) The receipts from every sale, other than sales for resale, of the following: (A) gas, electricity, refrigeration and steam, and gas, electric, refrigeration and steam service of whatever nature; (B) telephony and telegraphy and telephone and telegraph service of whatever nature except interstate and international telephony and telegraphy and telephone and telegraph service and except any telecommunications service the receipts from the sale of which are subject to tax under paragraph two of this subdivision; (C) a telephone answering service; and (D) a prepaid telephone calling service. (2) The receipts from every sale of mobile telecommunications service provided by a home service provider, other than sales for resale, that are voice services, or any other services that are taxable under subparagraph (B) of paragraph one of this subdivision, sold for a fixed periodic charge (not separately stated), whether or not sold with other services. (3) The tax imposed pursuant to this subdivision is imposed on receipts from charges for intrastate mobile telecommunications service of whatever nature in any state if the mobile telecommunications customer's place of primary use is in this state. (4) (A) For the purpose of subparagraph (B) of paragraph one of this subdivision, receipts from the sale of telephony or telephone service constituting the actual delivery of telephony or telephone service under a prepaid telephone calling service (for instance, when the receipt is represented by a debit to a prepaid account) shall be excluded from the receipts subject to tax under such subparagraph; and (B) for purposes of subparagraph (B) of paragraph one and paragraph two of this subdivision, a particular sale of telephony or telephone service to a vendor that resells such telephony or telephone service as a component of a prepaid telephone calling service shall be deemed a sale for resale of telephony or telegraph service. (c) The receipts from every sale, except for resale, of the following services: * (1) The furnishing of information by printed, mimeographed or multigraphed matter or by duplicating written or printed matter in any other manner, including the services of collecting, compiling or analyzing information of any kind or nature and furnishing reports thereof to other persons, but excluding the furnishing of information which is personal or individual in nature and which is not or may not be substantially incorporated in reports furnished to other persons, and excluding the services of advertising or other agents, or other persons acting in a representative capacity, and information services used by newspapers, radio broadcasters and television broadcasters in the collection and dissemination of news, and excluding meteorological services. * NB Effective until March 1, 2012 * (1) The furnishing of information by printed, mimeographed or multigraphed matter or by duplicating written or printed matter in any other manner, including the services of collecting, compiling or analyzing information of any kind or nature and furnishing reports thereof to other persons, but excluding the furnishing of information which is personal or individual in nature and which is not or may not be substantially incorporated in reports furnished to other persons, and excluding the services of advertising or other agents, or other persons acting in a representative capacity, and information services used by newspapers, electronic news services, radio broadcasters and television broadcasters in the collection and dissemination of news, and excluding meteorological services. * NB Effective March 1, 2012 (2) Producing, fabricating, processing, printing or imprinting tangible personal property, performed for a person who directly or indirectly furnishes the tangible personal property, not purchased by him for resale, upon which services are performed. (3) Installing tangible personal property, excluding a mobile home, or maintaining, servicing or repairing tangible personal property, including a mobile home, not held for sale in the regular course of business, whether or not the services are performed directly or by means of coin-operated equipment or by any other means, and whether or not any tangible personal property is transferred in conjunction therewith, except: (i) such services rendered by an individual who is engaged directly by a private home owner or lessee in or about his residence and who is not in a regular trade or business offering his services to the public; and (ii) any receipts from laundering, dry-cleaning, tailoring, weaving, pressing, shoe repairing and shoe shining; and (iii) for installing property which, when installed, will constitute an addition or capital improvement to real property, property or land, as the terms real property, property or land are defined in the real property tax law as such term capital improvement is defined in paragraph nine of subdivision (b) of section eleven hundred one of this chapter; and (iv) such services rendered with respect to commercial vessels and property used by or purchased for the use of such vessels, as such vessels and property are specified in paragraph eight of subdivision (a) of section eleven hundred fifteen of this article; and (v) such services rendered with respect to commercial aircraft, machinery or equipment and property used by or purchased for the use of such aircraft as such aircraft, machinery or equipment, and property are specified in paragraph twenty-one of subdivision (a) of section eleven hundred fifteen of this article; and (vi) such services rendered with respect to tangible personal property for use or consumption predominantly either in the production for sale of tangible personal property by farming or in a commercial horse boarding operation, or in both, as such tangible personal property is specified in paragraph six of subdivision (a) of section eleven hundred fifteen of this article. (vii) such services rendered with respect to fishing vessels and property used by or purchased for such vessels as such vessels are specified in paragraph twenty-four of subdivision (a) of section eleven hundred fifteen of this article. (viii) such services rendered with respect to railroad rolling stock primarily engaged in carrying freight in intrastate, interstate or foreign commerce, but not including any charge for parts or other tangible personal property whether such property has become a physical component part of the property upon which the services are performed or has been transferred to the purchaser of the services in conjunction with the performance of the services subject to the tax. (ix) such services rendered with respect to tangible property used or consumed directly and predominantly in the production for sale of gas or oil by manufacturing, processing, generating, assembling, refining, mining, or extracting.

(x) such services rendered with respect to property described in paragraph twelve-a of subdivision (a) of section eleven hundred fifteen of this article. * (xi) Such services rendered with respect to property described in paragraph twelve-b of section eleven hundred fifteen of this article. * NB Expired September 1, 2003 Provided, however, that nothing contained in this paragraph three shall be construed to exclude from tax under this paragraph or under subdivision (b) of this section any charge, made by a person furnishing service subject to tax under subdivision (b) of this section, for installing property at the premises of a purchaser of such a taxable service for use in connection with such service. (4) Storing all tangible personal property not held for sale in the regular course of business and the rental of safe deposit boxes or similar space. (5) Maintaining, servicing or repairing real property, property or land, as such terms are defined in the real property tax law, whether the services are performed in or outside of a building, as distinguished from adding to or improving such real property, property or land, by a capital improvement as such term capital improvement is defined in paragraph nine of subdivision (b) of section eleven hundred one of this article, but excluding (i) services rendered by an individual who is not in a regular trade or business offering his services to the public, (ii) services rendered directly with respect to real property, property or land used or consumed directly and predominantly in the production for sale of gas or oil by manufacturing, processing, generating, assembling, refining, mining, or extracting, (iii) services rendered with respect to real property, property or land used or consumed predominantly either in the production of tangible personal property, for sale, by farming or in a commercial horse boarding operation, or in both and (iv) services of removal of waste material from a facility regulated as a transfer station or construction and demolition debris processing facility by the department of environmental conservation, provided that the waste material to be removed was not generated by the facility. (6) Providing parking, garaging or storing for motor vehicles by persons operating a garage (other than a garage which is part of premises occupied solely as a private one or two family dwelling), parking lot or other place of business engaged in providing parking, garaging or storing for motor vehicles provided, however, this paragraph shall not apply to such facilities owned and operated by a public corporation, as defined by section sixty-six of the general construction law, other than a public benefit corporation, as defined by such section sixty-six, created by interstate compact or at least half of whose members are appointed by the governor, or any agency or instrumentality of a municipal corporation or district corporation as defined by such section sixty-six. Provided, however, receipts for such services paid to a homeowner's association by its members or receipts paid by members of a homeowner's association to a person leasing the parking facility from the homeowner's association shall not be subject to the tax imposed by this paragraph. For purposes of this paragraph, a homeowner's association is an association (including a cooperative housing or apartment corporation) (i) the membership of which is comprised exclusively of owners or residents of residential dwelling units, including owners of units in a condominium, and including shareholders in a cooperative housing or apartment corporation, where such units are located in a defined geographical area such as a housing development or subdivision and (ii) which owns or operates a garage, parking lot or other place of business engaged in providing parking, garaging or storing for motor vehicles located in such area for use (whether or not exclusive) by such owners or residents. (7) Interior decorating and designing services, (whether or not in conjunction with the sale of tangible personal property), by whomsoever performed, including interior decorators and designers, architects or engineers; notwithstanding the foregoing, such services shall not include services which consist of the practice of architecture, as defined in section seventy-three hundred one of the education law, or the practice of engineering, as defined in section seventy-two hundred one of the education law, if the services are performed by an architect or engineer having a license or permit under the education law. (8) Protective and detective services, including, but not limited to, all services provided by or through alarm or protective systems of every nature, including, but not limited to, protection against burglary, theft, fire, water damage or any malfunction of industrial processes or any other malfunction of or damage to property or injury to persons, detective agencies, armored car services and guard, patrol and watchman services of every nature other than the performance of such services by a port watchman licensed by the waterfront commission of New York harbor, whether or not tangible personal property is transferred in conjunction therewith. (9) (i) The furnishing or provision of an entertainment service or of an information service (but not an information service subject to tax under paragraph one of this subdivision), which is furnished, provided, or delivered by means of telephony or telegraphy or telephone or telegraph service (whether intrastate or interstate) of whatever nature, such as entertainment or information services provided through 800 or 900 numbers or mass announcement services or interactive information network services. Provided, however, that in no event (i) shall the furnishing or provision of an information service be taxed under this paragraph unless it would otherwise be subject to taxation under paragraph one of this subdivision if it were furnished by printed, mimeographed or multigraphed matter or by duplicating written or printed matter in any other manner nor (ii) shall the provision of cable television service to customers be taxed under this paragraph. (ii) Notwithstanding the rate and date set forth in the opening undesignated paragraph of this section and notwithstanding the opening undesignated paragraph of this subdivision, on and after September first, nineteen hundred ninety-three, in addition to any other tax imposed under this section, and in addition to any other tax or fee imposed under any other provision of law, there is hereby imposed and there shall be paid an additional tax at the rate of five percent upon the receipts which are subject to tax under subparagraph (i) of this paragraph on the furnishing or provision of an entertainment or information service which is received by the customer exclusively in an aural manner. Such additional tax shall not be imposed by section eleven hundred seven, eleven hundred eight or eleven hundred nine of this article and shall not be included among the taxes authorized to be imposed pursuant to the authority of article twenty-nine of this chapter. Wages, salaries and other compensation paid by an employer to an employee for performing as an employee the services described in paragraphs (1) through (9) of this subdivision (c) are not receipts subject to the taxes imposed under such subdivision. (10) Transportation service, whether or not any tangible personal property is transferred in conjunction therewith, and regardless of whether the charge is paid in this state or out of state so long as the service is provided in this state.

(d) (i) The receipts from every sale of beer, wine or other alcoholic beverages or any other drink of any nature, or from every sale of food and drink of any nature or of food alone, when sold in or by restaurants, taverns or other establishments in this state, or by caterers, including in the amount of such receipts any cover, minimum, entertainment or other charge made to patrons or customers (except those receipts taxed pursuant to subdivision (f) of this section): (1) in all instances where the sale is for consumption on the premises where sold; (2) in those instances where the vendor or any person whose services are arranged for by the vendor, after the delivery of the food or drink by or on behalf of the vendor for consumption off the premises of the vendor, serves or assists in serving, cooks, heats or provides other services with respect to the food or drink; and (3) in those instances where the sale is made through a vending machine that is activated by use of coin, currency, credit card or debit card (except the sale of drinks in a heated state made through such a vending machine) or is for consumption off the premises of the vendor, except where food (other than sandwiches) or drink or both are (A) sold in an unheated state and, (B) are of a type commonly sold for consumption off the premises and in the same form and condition, quantities and packaging, in establishments which are food stores other than those principally engaged in selling foods prepared and ready to be eaten. (ii) The tax imposed by this subdivision shall not apply to: (A) food or drink which is sold to an air line for consumption while in flight; (B) food or drink sold to a student of a nursery school, kindergarten, elementary or secondary school at a restaurant or cafeteria located on the premises of such a school, or food or drink, other than beer, wine, or other alcoholic beverages, sold at a restaurant, tavern or other establishment located on the premises of a college, university or a school (other than a nursery school, kindergarten, elementary or secondary school) to a student enrolled therein who purchases such food or drink under a contractual arrangement whereby the student does not pay cash at the time he is served, provided the school, college or university described in this subparagraph is operated by an exempt organization described in subdivision (a) of section eleven hundred sixteen, or is created, incorporated, registered, or licensed by the state legislature or pursuant to the education law or the regulations of the commissioner of education, or is incorporated by the regents of the university of the State of New York or with their consent or the consent of the commissioner of education as provided in section two hundred sixteen of the education law; and (e) (1) The rent for every occupancy of a room or rooms in a hotel in this state, except that the tax shall not be imposed upon (i) a permanent resident, or (ii) where the rent is not more than at the rate of two dollars per day. (2) When occupancy is provided, for a single consideration, with property, services, amusement charges, or any other items, the separate sale of which is not subject to tax under this article, the entire consideration shall be treated as rent subject to tax under paragraph one of this subdivision; provided, however, that where the amount of the rent for occupancy is stated separately from the price of such property, services, amusement charges, or other items, on any sales slip, invoice, receipt, or other statement given the occupant, and such rent is reasonable in relation to the value of such property, services, amusement charges or other items, only such separately stated rent will be subject to tax under paragraph one of this subdivision. (f) (1) Any admission charge where such admission charge is in excess of ten cents to or for the use of any place of amusement in the state, except charges for admission to race tracks, boxing, sparring or wrestling matches or exhibitions which charges are taxed under any other law of this state, or dramatic or musical arts performances, or live circus performances, or motion picture theaters, and except charges to a patron for admission to, or use of, facilities for sporting activities in which such patron is to be a participant, such as bowling alleys and swimming pools. For any person having the permanent use or possession of a box or seat or a lease or a license, other than a season ticket, for the use of a box or seat at a place of amusement, the tax shall be upon the amount for which a similar box or seat is sold for each performance or exhibition at which the box or seat is used or reserved by the holder, licensee or lessee, and shall be paid by the holder, licensee or lessee. (2) (i) The dues paid to any social or athletic club in this state if the dues of an active annual member, exclusive of the initiation fee, are in excess of ten dollars per year, and on the initiation fee alone, regardless of the amount of dues, if such initiation fee is in excess of ten dollars. Where the tax on dues applies to any such social or athletic club, the tax shall be paid by all members, other than honorary members, thereof regardless of the amount of their dues, and shall be paid on all dues or initiation fees for a period commencing on or after August first, nineteen hundred sixty-five. In the case of a life membership, the tax shall be upon the amount paid as life membership dues, however, a life member, other than an honorary member, paying an annual sales tax, based on the dues of an active annual member, shall continue such payments until the total amount of such tax paid is equal to the amount of tax that would have otherwise been due had the tax been imposed at the time such paid life membership has been purchased and at the then applicable rate. (ii) Dues and initiation fees paid to the following shall not be subject to the tax imposed by this paragraph: (A) A fraternal society, order or association operating under the lodge system; (B) Any fraternal association of students of a college or university; (C) A homeowners association. For purposes of this subparagraph, a homeowners association is an association (including a cooperative housing or apartment corporation) (I) the membership of which is comprised exclusively of owners or residents of residential dwelling units, including owners of units in a condominium, and including shareholders in a cooperative housing or apartment corporation, where such units are located in a defined geographical area such as a housing development or subdivision and (II) which operates social or athletic facilities located in such area for use (whether or not exclusive) by such owners or residents. (3) The amount paid as charges of a roof garden, cabaret or other similar place in the state.

Note: Citation as of 10/25/11 - ALL NYS Tax Laws are subject to change and update - you must confirm as relying or filing.

DCarsonCPA.com is the web presence of Dean T. Carson II, CPA we are here to better connect the line between Government, Industry, Business, Non Profit and Individual Financial Decision Makers to support Accounting, Taxation, Compliance, Operations, Advisory, Audits and more. Learn more at www.dcarsoncpa.com or reach us at info@dcarsoncpa.com .