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LOWER MANHATTAN RELOCATION EMPLOYMENT 2020
-114.8
ASSISTANCE PROGRAM (LMREAP) CREDIT
APPLIED TO UNINCORPORATED BUSINESS TAX
ATTACH TO FORM NYC-202, NYC-202EIN OR NYC-204
USE FORM NYC-114.5 IF YOU ARE FILING A CLAIM FOR A REAP CREDIT. USE FORM NYC-114.6 IF YOU ARE FILING A CLAIM
FOR EITHER A REAL ESTATE TAX ESCALATION CREDIT OR AN EMPLOYMENT OPPORTUNITY RELOCATION COSTS CREDIT.

For CALENDAR YEAR 2020 or FISCAL YEAR beginning ______________________ 2020 and ending ___________________________
Name as shown on NYC-202, 202-EIN or NYC-204:

t PARTNERSHIPS, ESTATES AND TRUSTS ONLY,
ENTER EMPLOYER IDENTIFICATION NUMBER
*61212091* Type of Business:
Check one: n COMMERCIAL n INDUSTRIAL n RETAIL
Unincorporated Business Tax year
for which claim is made:ended: MONTH:_________________ YEAR:___________ SOCIAL SECURITY NUMBER
Print or Type
t Federal Business Code:

Form NYC-114.8 must be attached to and submitted with Unincorporated Business Tax Return (Form NYC-202 or NYC-202EIN) or Part-
nership Tax Return (Form NYC-204) in order to claim the LMREAP credit.

Lower Manhattan Relocation and Employment Assistance Program (LMREAP) Credit
If the credit is refundable, fill in lines 1 and 11 and skip lines 2 through 10.
If the credit is non-refundable, skip line 1 and fill in lines 2 through 11.

Refundable Credit applied against Unincorporated Business Tax
1. COMPUTATION OF REFUNDABLE CREDIT
Number of eligible aggregate employment shares: _______________ X $3,000. .............................................................. 1.
If you have carryover credits from preceding years, complete the carryover schedule below regardless of whether you will carry over credits to the current
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 7.
There is no non-refundable credit until the fifth taxable year after the year of the relocation.
Nonrefundable Credit applied against Unincorporated Business Tax
2. Current year’s tax ................................................................................................................................................................................. 2.
3. Computation of current year’s credit:
Number of eligible aggregate employment shares: ________________ X $3,000 .......................................................... 3.
4. If line 3 is greater than line 2, enter the difference and skip lines 5through 8. Transfer amount
on line 2 to line 10.................................................................................................................................................................................. 4.
5. If line 3 is less than line 2, enter the difference. Complete carryover schedule below. ........................................... 5.
6. Total carryover credits from prior taxable years (line 9f, column A below) ................................................................... 6.
7. Amount of carryover credit that may be carried over to the current year.
Enter lesser of line 5or line 6 ........................................................................................................................................................... 7.
8. Total allowable credit for current year. Sum of the current year credit plus the applicable
carryover from prior years. Add lines 3 and 7. Go to line 10. ............................................................................................. 8.

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

9a. Carryover from 5th preceding year .......... 9a.
9b. Carryover from 4th preceding year ......... 9b.
9c. Carryover from 3rd preceding year.......... 9c.
9d. Carryover from 2nd preceding year ........ 9d.
9e. Carryover from 1st preceding year ...........9e.
9f. Total .......................................................................9f.
10. Allowable nonrefundable LMREAP credit for current year (amount from line 2 or line 8, whichever is less) ..............10.
Credit
11. Line 1 or line 10. Transfer amount to Form NYC-202 or NYC-202EIN, Sch. A, line 20c or Form NYC-204, Sch. A, line 22c; .11.
61212091 NYC - 114.8 2020

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Form NYC-114.8 - 2020                                                                            Page 2

INSTRUCTIONS 

General Information 
 
LMREAP benefits are available only to taxpayers that have previously applied to the New York City Department 
of Finance and received an Initial Certificate of Eligibility.  The credit is not available for any relocation prior to 
July 1, 2003. 
 
You must attach your annual certificate of eligible aggregate employment shares (ACEAES) received from the New 
York City Department of Finance and your initial Certificate of Eligibility. 

                                       credit.  If the allowable non-refund-  Carryover Schedule 
Specific Instructions 
                                       able credit exceeds the tax imposed  If you have carryover credits from 
 
                                       for the year less the UBT  Paid Credit  preceding years, complete the car-
The  credit is refundable   if the tax-
                                       and the REAP credit, the excess may  ryover schedule regardless of 
able year for which the credit is 
                                       be carried over to the five immedi-    whether you will use any of the car-
being claimed is either the year of 
                                       ately succeeding taxable years and,  ryover credits this year.  Enter on 
the relocation or  one of the four 
                                       to the extent not previously utilized,  each line in column B the amount 
taxable years immediately succeed-
                                       may be credited against the tax-       from each carryover year starting 
ing the year of the relocation.   For 
                                       payer's tax for such years.            with the earliest preceding carry-
example, if the year of relocation is 
                                                                              over year that can be applied to the 
the calendar tax year 2006, the 
                                       Line 2                                 current year.  The total amount of 
credit will be refundable for the cal-
                                       Enter on line 2 the appropriate  carryover credits applied to the cur-
endar tax years 2006 through 2010. 
                                       amount below:                          rent year (line 9f, column B) cannot 
 
                                                                              exceed the amount on line 7. 
For later taxable years, the credit is 
                                       Filers of Form NYC-202 or NYC-          
non-refundable. For example, if the 
                                       202EIN --Schedule A, line 19 less 
year of relocation is the calendar tax 
                                       line 20a 
year 2006, the credit will be nonre-    
fundable for the calendar tax years    Filers of Form NYC-204 --Schedule 
2011 and thereafter.  If the credit is A, line 21 less line 22a 
refundable, fill out lines 1 and 11     
and skip lines 2 through 10.  For re-  Line 4 
locations where the credit is non-re-  The amount on line 4 represents the 
fundable fill out lines 2 through 11   amount of your LMREAP credit 
of this schedule and not line 1.       that you can carry forward to the 
                                       next five taxable years and apply 
A non-refundable LMREAP credit is      against the tax for such years.  Enter 
limited to the tax imposed for the     the amount from line 4 on line 9e of 
year less the UBT paid Credit and      the Carryover Schedule of your next 
the REAP credit.  It must be taken     year’s Form NYC 114.8.  See In-
before all other credits except the    structions for Carryover Schedule 
UBT Paid Credit and the REAP           below.

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