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Instructions for Form NYC-2 - 2022 Page 7
● The 2023 Form NYC-2 is not avail- corporation short year, even though they Short Periods - Fixed Dollar Minimum Tax
able at the time you are required to are treated as separate short tax years. See
Compute the New York City receipts for
file the return. Finance Memorandum 15-2, 4/17/2015.
short periods (tax periods of less than 12
You must show the 2023 tax year on the Special Condition Codes months) by dividing the amount of New
2022 Form NYC-2 and take into account Check the Finance website for applicable York City receipts by the number of months
any tax law changes that are effective for tax special condition codes. If applicable, in the short period and multiplying the re-
years beginning after December 31, 2022. enter the two character code in the box sult by 12. Once this annualized amount is
calculated (do not replace your NYC re-
provided on the form.
September 11, 2001 Related Benefits ceipts on Line 3 with this annualized
Check the appropriate box on page 1 of SCHEDULE A amount) use the table above to determine
this form if, on your federal return: (i) Computation of Balance Due or Over- the fixed dollar minimum tax based on the
you reported bonus depreciation and/or payment annualized amount. The resulting fixed dol-
a first year expense deduction under IRC lar minimum tax may be reduced for short
§179 for "qualified New York Liberty LINE 3 - MINIMUM TAX periods as indicated below. Enter the re-
Zone property," "qualified New York Enter the amount of New York City Re- duced amount on line 3 (If applicable).
Liberty Zone leasehold improvements," ceipts from Schedule F, Part 1, Column
or "qualified Resurgence Zone property," A, line 1, or Part 2, Column A, line 2a Period Reduction
regardless of whether you are required to and the Minimum Tax amount from the Not more than 6 months..................50%
file form NYC-399Z, or (ii) you replaced following table. If 100% of your busi-
More than 6 months
property involuntarily converted as a re- ness income is to be allocated to the but not more than 9 months.............25%
sult of the attacks on the World Trade City, enter the total amount of your
More than 9 months.......................None
Center during the five (5) year extended business receipts, which should be the
replacement period. You must attach fed- same as the amount that you would LINE 5 - UBT PAID CREDIT
eral forms 4562, 4684 and 4797 to this have had to enter on line 1 of Part 1, or Enter on line 5 the credit against the
return. See instructions for Schedule B, line 2a of Part 2 of Schedule F if you Business Corporation Tax for Unincor-
lines 11 and 19 for more information. had been required to complete that line. porated Business Tax paid by partner-
ships from which you receive a
Filing your final return TABLE - FIXED DOLLAR
distributive share of income, loss or de-
Mark an Xin the Final return box on page MINIMUM TAX
duction or guaranteed payment that you
1 of the return if the corporation has ceased For a corporation with New York City re-
include in entire net income (ENI) (At-
doing business, employing capital, or own- ceipts of:
ing or leasing property in New York City. tach a Form NYC-9.7C for each partner-
Do not mark an Xin the Final return if Not more than $100,000..................$ 25 ship from which you receive a credit.)
you are only changing the type of return More than $100,000
LINE 7- REAP CREDIT
that you file. but not over $250,000 .....................$ 75 Enter on this line the Relocation and Em-
More than $250,000 ployment Assistance Program (REAP)
Do not mark an Xin the Final return box but not over $500,000 ...................$ 175 credit against the Business Corporation
in the case of a merger or consolidation.
More than $500,000 Tax. (Attach Form NYC-9.5.)
but not over $1,000,000 ................$ 500
Include the full profit from any install-
More than $1,000,000
ment sale made in your final tax year on LINE 8 - CREDITS FROM
but not over $5,000,000 ..............$1,500
your final return. FORM NYC-9.6
More than $5,000,000 Enter on this line the real estate tax esca-
Also include on your final return any re- but not over $25,000,000 ............$3,500 lation credit and employment opportunity
maining profit not yet received from a More than $25,000,000 relocation costs credit and industrial busi-
ness zone credit (Refer to instructions on
prior year’s installment sale. but not over $50,000,000 ............$5,000
Form NYC-9.6 and attach form.)
More than $50,000,000
S Corporation Termination Year
but not over $100,000,000 ........$10,000
If an S corporation is terminating its fed- LINE 9 – LMREAP CREDIT
eral S election on a day other than the first More than $100,000,000 Enter on this line the credit against the Busi-
day of the tax year, the tax year is divided but not over $250,000,000 ........$20,000 ness Corporation Tax for the Lower Manhat-
into two tax periods (an S short year and More than $250,000,000 tan Relocation and Employment Assistance
a C short year). The taxpayer must file a but not over $500,000,000 ........$50,000 Program. (Attach Form NYC-9.8.)
GCT or Bank Tax return for the S Corpo- More than $500,000,000
LINE 11- BEER PRODUCTION
ration short year and a Form NYC-2 or but not over $1,000,000,000 ...$100,000 CREDIT
Form NYC-2A for the C corporation
Over $1,000,000,000...............$200,000
short year. The due date of the S corpora- Enter on this line the NYC beer produc-
tion short year return is the same as the C tion credit. (Attach Form NYC-9.12.)
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