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REAP CREDIT APPLIED TO 2020
-114.5 UNINCORPORATED BUSINESS TAX
ATTACH TO FORM NYC-202, NYC-202EIN OR NYC-204

For CALENDAR YEAR 2020 or FISCAL YEAR beginning ____________________ 2020 and ending _________________________
Print or Type
Name as shown on NYC-202, NYC-202EIN or NYC-204: PARTNERSHIPS, ESTATES AND TRUSTS ONLY,
ENTER EMPLOYER IDENTIFICATION NUMBER
Type of Business:
Check one: n COMMERCIAL n INDUSTRIAL n RETAIL
*61012091* Unincorporated Business Tax year
for which claim is made:ended: MONTH:_________________ YEAR:___________ SOCIAL SECURITY NUMBER
Principal Business Activity:

Form NYC-114.5 must be attached to and submitted with Unincorporated Business Tax Return (Form NYC-202 or NYC-202EIN) or
Partnership Tax Return (Form NYC-204) in order to claim the REAP credit.

Relocation and Employment Assistance Program (REAP) Credit
If you have carryover credits from preceding years, complete the carryover schedule below regardless of whether you will carry over credits to the cur-
rent year. Enter in column B (the applied column) the amount applied to each carryover year until the total applied agrees with the amount on line 6.

Nonrefundable Credit applied against Unincorporated Business Tax
1. Current year’s tax (amount from NYC-202 or NYC-202EIN, Schedule A, line 19 or NYC-204,
Schedule A, line 21) .......................................................................................................................................................................... 1.
2. Computation of current year’s credit:
(number of eligible aggregate employment shares: ____________ X the applicable amount (see instructions)) .... 2.
3. If line 2 is greater than line 1, enter the difference and skip lines 4through 7. Transfer amount
on line 1 to line 9 (see instructions) ........................................................................................................................... 3.
4. If line 2 is less than line 1, enter the difference. Complete carryover schedule below. ...................... 4.
5. Total carryover credits from prior taxable years (line 8f, column A below) ............................................... 5.
6. Amount of carryover credit that may be carried over to the current year.
Enter lesser of line 4or line 5 ....................................................................................................................................... 6.
7. Total allowable credit for current year. Sum of the current year credit plus the applicable
carryover from prior years. Add lines 2 and 6. Go to line 9. ........................................................................... 7.

REAP carryover schedule COLUMN A COLUMN B COLUMN C
You may not carry over the 5th CARRYOVER CTOURRENT YEAR APPLIED CARRYOVER NTO EXT YEAR
preceding year’s credit to next year. (unused credit) (column A minus column B)

8a. Carryover from 5th preceding year .. 8a.
8b. Carryover from 4th preceding year .. 8b.
8c. Carryover from 3rd preceding year .. 8c.
8d. Carryover from 2nd preceding year . 8d.
8e. Carryover from 1st preceding year... 8e.
8f. Total................................................................ 8f.
9. Allowable nonrefundable REAP credit for current year (amount from line 1 or line 7, whichever is less).... 9.
Refundable Credit applied against Unincorporated Business Tax
10. COMPUTATION OF REFUNDABLE CREDIT
Number of eligible aggregate employment shares: _______________ X $3,000. .......................................... 10.
TOTAL of Nonrefundable and Refundable Credits
11. Line 9 plus line 10. Transfer amount to Form NYC-202 or NYC-202EIN, Sch. A, line 20a or
Form NYC-204, Sch. A, line 22a ................................................................................................................................ 11.

61012091 NYC - 114.5 2020

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Form NYC-114.5 - 2020 Page 2

INSTRUCTIONS the Carryover Schedule of your next year’s
Form NYC 114.5. See Instructions for
Carryover Schedule below.
General Information

REAP benefits are available only to tax- Carryover Schedule
payers that have previously applied to the If you have carryover credits from preced-
New York City Department of Finance and ing years, complete the carryover schedule
received an initial Certificate of Eligibility. regardless of whether you will use any of
the carryover credits this year. Enter on
If you have relocated more than once, at- each line in column B the amount from
tach a schedule showing your apportion- each carryover year starting with the earli-
ment of eligible aggregate employment est preceding carryover year (line 8a) that
shares to each relocation. See Administra- can be applied to the current year. The total
tive Code §11-503(i)(1). amount of carryover credits applied to the

current year (line 8f, column B) cannot ex-
You must attach your annual certificate of
ceed the amount on line 4.
eligible aggregate employment shares
(ACEAES) received from the New York The credit is refundable only if all of the
City Department of Finance and your initial following three criteria are met:
Certificate of Eligibility for each relocation
for which you are claiming credit. 1. the initial Certificate of Eligibility must
be dated on or after July 1, 2000;

Specific Instructions 2. the relocation must be to eligible prem-

ises located in a "Revitalization Area" as
The credit is non-refundable unless all of
defined in subdivision (n) of §22-621 of
the three criteria listed below are met.
the New York City Administrative Code;
For relocations where the credit is non-re-
and
fundable fill out lines 1 through 9 of this
schedule and not line 10. If all of the three 3. the taxable year for which the credit is
criteria are met the credit is refundable. If being claimed must be either the year of
the credit is refundable, skip lines 1 the relocation or one of the four taxable
through 9 and fill out line 10. years immediately succeeding the year

of the relocation.
A non-refundable REAP credit is limited to
the tax imposed for the year less the UBT
paid Credit. It must be taken before all
other credits except the UBT paid credit. If
the allowable non-refundable portion of the
credit exceeds the tax imposed for the year
less the UBT Paid Credit, the excess may
be carried over to the five immediately suc-
ceeding taxable years and, to the extent not
previously utilized, may be credited against
the taxpayer's tax for such years.

Line 2
If your relocation was to a revitalization
area, the applicable amount is $3,000. If
your relocation area was not to a revital-
ization area, the applicable amount is
$1,000.

Line 3
The amount on line 3 represents the
amount of your REAP credit that you can
carry forward to the next five taxable years
and apply against the tax for such years.
Enter the amount from line 3 on line 8e of

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