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Fillable Nyc 115 Form in PDF

The NYC 115 form is a tax report used by unincorporated businesses to report changes in taxable income resulting from audits by the Internal Revenue Service or the New York State Department of Taxation and Finance. This form must be filed within 90 days of a final determination and is essential for accurately reflecting any adjustments made to a business's tax obligations. Understanding the NYC 115 form is crucial for compliance and ensuring that all necessary payments are made on time.

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Article Guide

The NYC 115 form serves a crucial role for unincorporated businesses operating within New York City, particularly when it comes to reporting changes in taxable income that arise from audits conducted by the Internal Revenue Service or the New York State Department of Taxation and Finance. This form must be filed within 90 days following a final determination regarding such adjustments, and it is essential for businesses to comply to avoid penalties. The form captures a range of financial details, including the taxpayer's name, address, and social security number, as well as the specifics of the income adjustments. It features sections for calculating the unincorporated business tax, detailing any business tax credits, and summarizing any additional taxes due or refunds owed. Importantly, the NYC 115 requires a thorough explanation of the adjustments made, which must be documented on Schedule A. This ensures that all changes are transparent and that the tax authority has a clear understanding of the taxpayer's financial situation. Additionally, the form includes certification requirements, emphasizing the taxpayer's responsibility to provide accurate and complete information. Filing this form correctly can significantly impact a business's tax obligations and potential refunds.

Preview - Nyc 115 Form

*60111591*

TM -115	UNINCORPORATED BUSINESS TAX REPORT OF
Department of Finance	CHANGE IN TAXABLE INCOME MADE BY INTERNAL

REVENUE SERVICE AND/OR NEW YORK STATE

DEPARTMENT OF TAXATION AND FINANCE

FOR TAXABLE YEARS BEGINNING PRIOR TO JANUARY 1, 2015

TO BE FILED WITHIN 90 DAYSAFTERAFINAL DETERMINATION

For CALENDAR YEAR _________or FISCAL YEAR beginning ______________________ and ending _______________________

	Name		Name	n
			Name
			Change

	In Care of
Type
Type	Address (number and street)		Address
or	Address (number and street)		Address
or			Change n
Print			Change n
Print	City and State	Zip Code	Country (if not US)
	City and State	Zip Code	Country (if not US)

	Telephone Number	Taxpayer’s Email Address

SOCIAL SECURITY NUMBER

PARTNERSHIPS, ESTATESAND TRUSTS ONLY, ENTER EMPLOYER IDENTIFICATION NUMBER

A.If this form is filed by a member of a partnership to report a federal or New York State change affecting his/her share, give name and Employer Identification Number of partnership.

Name of member: _____________________________________________________________________________

EIN:

B. Enter date of Final Determination: (3)

nFederal

- -

nNew York State

- -

A.Payment

...............................................................................Amountbeingpaidelectronicallywiththisreturn	A.

Payment Amount

	Calculation Of Unincorporated		COLUMN A		COLUMN B				COLUMN C
	Business Tax - See Instructions.		Original Amount		Net Change				Correct
	Business Tax - See Instructions.		as last adjusted		From Page 2, ScheduleA				Amount

1.	Total income							1.
2.	Taxable income	2.						2.
3.	Tax	3.						3.
4.	Business tax credit	4.						4.
5.	Line 3 less line 4	5.						5.
6.	UBT paid credit	6.						6.
7.	Line 5 less line 6	7.						7.
8.	Other credits	8.						8.
9.	Net tax (line 7 less line 8)	9.						9.
9.	Net tax (line 7 less line 8)	9.

	SUMMARY				COLUMN D				COLUMN E
	SUMMARY				Additional Tax Due				Refund Due
					Additional Tax Due				Refund Due

10. If amount in column C, line 9 is greater than amount in column A, enter
	difference in column D (see instructions for treatment of prior NYC adjustments)			10.
11.	If amount in column C, line 9 is less than amount in column A, enter						11.
	difference in column E (see instructions for treatment of prior NYC adjustments)			11.			11.
				11.
12.	Interest (see instructions)			12.
13.	Additional charges (see instructions)			13.
14.	Total amount due(add lines 10, 12 and 13)			14.
15.	Refund due(enter amount from line 11 above)					15.

CERTIFICATION

t
SIGN	HERE

	t
PREPARER'S	USE ONLY

Iherebycertifythatthisreturn,includinganyaccompanyingrider,is,tothebestofmyknowledgeandbelief,true,correctandcomplete.

Firm's EmailAddress:

IauthorizetheDept.ofFinancetodiscussthisreturnwiththepreparerlistedbelow.(seeinstructions)....YES n

_________________________________________

Signature of taxpayer:

Title:

Date:

Preparer'sSocialSecurityNumberorPTIN

Preparer's

Preparer’s

signature:

printed name:

Date:

Firm's Employer Identification Number

Check if self- n

employed

Firm's name

s Address

s Zip Code

60111591

NYC-115 - 2015

Form NYC-115 - 2015

Page 2

SCHEDULEA

Explanation of Federal and/or New York StateAdjustments (if additional space is needed, attach schedule)

1.	Items increasing profit (or decreasing loss) from business or profession (federal Schedule C) or	COLUMN F
	partnership income (federal Form 1065 or Form 1065-B) (see instructions) t



2.	Total increases

3.Items decreasing profit (or increasing loss) from business or profession (federal Schedule C) or partnership income (federal Form 1065 or Form 1065-B) (see instructions) t

4.Total decreases

5.Net (federal/New York State) adjustments (combine lines 2 and 4)

NEW YORK CITY CHANGESAFFECTING (Federal/New York State)ADJUSTMENTS LISTEDABOVE

6.Additions (see instructions) t

7. Total additions

8.Subtractions (see instructions) t

9.Total subtractions

10.Net New York City changes (combine lines 7 and 9)

11.Net reportable changes (transfer amount to page 1, column B, line 1)

SCHEDULE B

Computation of Business Tax Credit - page 1, line 4, column C (check one)

nBusiness Tax Credit for 1996

1.If the tax on page 1, line 3, Column C is $800 or less, your credit on line 4 is the entire amount of tax on page 1, line 3, Column C.

2.If the tax on page 1, line 3, Column C is $1,000 or over, no credit is allowed. Enter “0” on page 1, line 4, Column C.

3.If the tax on page 1, line 3, Column C is over $800 but less than $1,000, your credit is computed by the following formula:

tax on page 1, line 3, Column C X (	$1,000 minus tax on page 1, line 3, Column C )	=	___________
	$200		(your credit)

nBusiness Tax Credit for 1997 through 2008

1.Ifthetaxonpage1,line3,ColumnCis$1,800orless,yourcreditonline4istheentireamountoftaxonpage1,line3,ColumnC.

2.If the tax on page 1, line 3, Column C is $3,200 or over, no credit is allowed. Enter “0” on page 1, line 4, Column C.

3.If the tax on page 1, line 3, Column C is over $1,800 but less than $3,200, your credit is computed by the following formula:

tax on page 1, line 3, Column C X ( $3,200 minus tax on page 1, line 3, Column C )	=	___________
$1,400		(your credit)

*60121591*

nBusiness Tax Credit for 2009 and Later

1.Iftheamountonpage1,line3,ColumnCis$3,400orless,yourcreditonline4istheentireamountoftaxonpage1,line3,ColumnC.

2.If the amount on page 1, line 3, Column C is $5,400 or over, no credit is allowed. Enter “0” on page 1, line 4, Column C.

3.If the amount on page 1, line 3, Column C is over $3,400 but less than $5,400, your credit is computed by the following formula:

tax on page 1, line 3, Column C X ( $5,400 minus tax on page 1, line 3, Column C ) = ___________
	$2,000			(your credit)


		MAILING INSTRUCTIONS

Attachcopiesoffederaland/orNewYorkStatechangesandexplanationofitems.		ALLRETURNSEXCEPTREFUNDRETURNS	REMITTANCES	RETURNSCLAIMINGREFUNDS
Makeremittancepayabletotheorderof NYCDEPARTMENTOFFINANCE		NYC DEPARTMENT OF FINANCE	PAYONLINEWITHFORMNYC-200V	NYC DEPARTMENT OF FINANCE
PaymentmustbemadeinU.S.dollars,drawnonaU.S.bank.		P.O. BOX 5564	AT NYC.GOV/ESERVICES	P.O. BOX 5563
Toreceivepropercredit,youmustenteryourcorrectEmployerIdentification		BINGHAMTON, NY 13902-5564	OR	BINGHAMTON, NY 13902-5563
		BINGHAMTON, NY 13902-5564	Mail Payment and Form NYC-200V ONLY to:	BINGHAMTON, NY 13902-5563
Numberand/orSocialSecurityNumberonyourtaxreturnandremittance.			NYC DEPARTMENT OF FINANCE
			NYC DEPARTMENT OF FINANCE
			P.O. BOX 3646
			P.O. BOX 3646
60121591			NEW YORK, NY 10008-3646

Form NYC-115 - 2015 - Instructions	Page 3

IMPORTANT INFORMATION CONCERNING FORM NYC-200VAND PAYMENT OFTAX DUE

Payments may be made on the NYC Department of Finance website at nyc.gov/eservices, or via check or money order. If payingwithcheckormoneyorder,donotincludethesepaymentswithyourNewYorkCityreturn.Checksandmoneyorders mustbeaccompaniedbypaymentvoucherformNYC-200Vandsenttotheaddressonthevoucher.FormNYC-200Vmustbe postmarkedbythereturnduedatetoavoidlatepaymentpenaltiesandinterest.SeeformNYC-200Vformoreinformation.

GENERAL INFORMATION

(Pursuant to Title 11, Chapter 5 of theAdministrative Code of the City of NewYork)

FortaxableyearsbeginningpriortoJanuary1,2015.

This form is to be used by unincorporated businesses for reporting adjust- mentsintaxableincomeresultingfromanInternalRevenueServiceauditof yourfederalincometaxreturn,and/orNewYorkStateDepartmentofTaxa- tion and Finance audit of your NewYork State income tax return and must be filed within 90 days after a final determinationor as required by the De- partmentofFinance. Itmustbeaccompaniedbytheamountofadditionaltax due. ExplainfederalorNewYorkStateadjustmentsindetailonScheduleA of this form and attach an exact copy of the entire report of federal and/or NewYorkStatefindings. Ifyoudisagreewiththeresultsofafinaldetermi- nationinafederalorStateaudit,completetheformshowingtheamountfrom column 1incolumn3,and attach a schedule showingthe additional tax(or refund)duereportingthechangesinaccordancewiththefinaldetermination andattachastatementexplainingwhyyoubelievetheadjustmentsareerro- neous. Ifnosuchstatementisattached,theamountoftheNewYorkCitytax resultingfromthefederalorStatedeterminationreportedonthisformasdue willbedeemedassessedonthedatethisformisfiled. Thisformistobefiled separately.Donotattachittoanytaxreturn.

Thisformisrequiredifthetaxpayerexecutesawaiverofrestrictions on assessments as provided in IRC section 6213(d) or NYS Tax Law section681(f).

AnamendedNewYorkCityreturnmustbefiledwithin90daysafter filinganamendedfederalorNewYorkStatereturn.

NOTE:

FortaxyearsbeginningonorafterJanuary1,2012,alltaxpayersmust allocateunincorporatedbusinesstaxableincomeusingformulaalloca- tion.Tax year2011 is the last taxable yearin which eligible taxpayers whomadetheone-timeelectiontocontinueusingbooksandrecordsal- locationfortaxyear2005mayusethismethodofallocation.Seesection 11-508(b)and(c)oftheAdministrativeCode. Additionally,fortaxyears beginningbefore2011,amanufacturingbusinessmayelecttocalculate itsallocationpercentageusingafour-factorformulabydoubleweight- ing the receipts factor. SeeAdministrative Code section 11-508 subd. (a),(c),and(g)andinstructionstoformsNYC-204and202.

ChangestotheUnincorporatedBusinessTaxineffectfortaxyearsbe- ginning on or after January 1, 2009, include: single factor allocation usingthereceiptsfactorbeingphasedinoveraten-yearperiod;andan increaseinthecreditfortaxliabilitytoafullcreditforliabilitiesupto $3400andapartialcreditforliabilitiesupto$5400.SeeFinanceMem- orandum09-2“2009LegislativeHighlights”andinstructionstoforms NYC-204and202.

For information regarding depreciation deductions for “qualified property,” “qualified New York Liberty Zone property,” “qualified New York Liberty Zone leasehold improvements” and "qualified ResurgenceZoneproperty"placedinserviceafterSeptember10,2001, seeFinanceMemorandum14-1,“ApplicationofIRC§280FLimitsto SportUtilityVehicles”andFormNYC-399Z.

Forinformationregardingdepreciationdeductionsforpropertyplaced in service outside New York after 1984 and before 1994, see Finance Memorandum99-4“DepreciationforPropertyPlacedinServiceOut- sideNewYorkAfter1984andBefore1994”.

PreparerAuthorization: IfyouwanttoallowtheDepartmentofFinance todiscussyourreturnwiththepaidpreparerwhosignedit,youmustcheck the"yes"boxinthesignatureareaofthereturn.Thisauthorizationapplies onlytotheindividualwhosesignatureappearsinthe"Preparer'sUseOnly" section of your return. It does not apply to the firm, if any, shown in that section. Bycheckingthe"Yes"box,youareauthorizingtheDepartmentof Finance to call the preparer to answer any questions that may arise during theprocessingofyourreturn. Also,youareauthorizingthepreparer to:

lGive the Department any information missing from your return,

lCalltheDepartmentforinformationabouttheprocessingofyourre- turn or the status of your refund or payment(s), and

lRespondtocertainnoticesthatyouhavesharedwiththepreparer about math errors, offsets, and return preparation. The notices will notbe sent to the preparer.

You are not authorizing the preparer to receive any refund check, bind you to anything (including any additional tax liability), or otherwise rep- resent you before the Department. The authorization cannot be revoked, however, the authorization will automatically expireno laterthan the due date(withoutregardtoanyextensions)forfilingnextyear'sreturn. Fail- uretochecktheboxwillbedeemedadenialofauthority.

SPECIFIC INSTRUCTIONS

CALCULATION OFTAX

In ColumnAenter amounts from the latest NewYork City report or final New York City Department of Finance adjustment prior to the filing of this return. If you filed an amended return or if the amounts shown on your original return were changed pursuant to a final Department of Fi- nance adjustment, attach documentation reflecting the New York City changes and a schedule showing your calculations.

If you originally filed Form NYC-202S or NYC-204EZ, enter in Column A the amounts you would have reported if you had filed NYC-202 or NYC-204, respectively.

LINE1

IncolumnAenterthesumoftheamountofthetotalbusinessincomeyou reported on line 1, ScheduleA, Form NYC-202, NYC-202EIN or NYC- 204 as originally filed or previously adjusted and the amount of the total investment income you reported on Schedule A, Form NYC-204, NYC- 202 or NYC-202EIN, as originally filed or previously adjusted.

In column B enter the net reportable changes from line 11 of ScheduleA on page 2 of this form.

In column C add or subtract the amount in column B from columnA.

LINE2

IncolumnAentertheamountoftaxableincomeyoureportedonline16of ScheduleA,FormNYC-202,line16ofScheduleA,FormNYC-202EINor line16ofScheduleA,FormNYC-204asoriginallyfiledorpreviouslyad- justed. IncolumnCenteryourtotaltaxableincome,asrecomputed. Tore- compute your taxable income, start with the amount in line 1, column C and make the adjustments required by Schedule A of Form NYC-202, NYC-202EINorNYC-204. Submitascheduleshowingtheadjustments.

LINES3through8

In column A enter the amount reported on the corresponding lines of Schedule A, Form NYC-202, NYC-202EIN or Form NYC-204 as origi-

Form NYC-115 - 2015 - Instructions	Page 4

	nallyfiledorpreviouslyadjusted. IncolumnCrecalculatethoseamounts	LINE5-NETADJUSTMENTS
	and enter appropriate amounts. For line 4, compute the revised business	Theamountenteredonline5(columnF)shouldbethenetadjustmentsmade
	tax credit by completing Schedule B on page 2 of this form.	by a federal or New York State audit before taking into consideration any
	LINE12-INTEREST	NewYorkCitychangesapplicablethereto.Notethatarecomputationorre-
	LINE12-INTEREST	visionofyourfederalorNewYorkStatereturnincreasingnetprofit(orloss)
	Interest on the additional tax due, entered in column D, line 10, is com-
		fromabusinessorprofessionorpartnershipincomereportedthereon,which
	puted from the due date of the original tax return to the date paid. Leave	resultsinareductionofanoverpaymentorrefundclaimed,mustbereported
	columnD,line12blankiftheamountofinterestcomputedislessthan$1.	on this form even though you receive a refund or overpayment credit fol-
	Theapplicableprescribedinterestrateorratesareavailablefromtheinter-	lowingtheauditorpre-auditofyourfederalorNewYorkStatereturn.
	estratetablesetforthontheDepartmentofFinance’sinternetwebsiteat:

http://www1.nyc.gov/site/finance/taxes/business-interest-rates.page		LINES6THROUGH11-NEWYORKCITYCHANGES
Fortherateofinterestonoverpayments,forarateofinterestnotshownontheweb-		IfanyfederalorNewYork StateitemreportedincolumnFissubjecttoa
		modificationincreasingordecreasingthatitemforNewYorkCitytaxpur-
site and for interest calculations, call 311. If calling from outside of the five NYC		poses pursuant to Section 11-506 of theAdministrative Code of the City
boroughs, please call 212-NEW-YORK (212-639-9675).
boroughs, please call 212-NEW-YORK (212-639-9675).		of NewYork, show the details and enter the NewYork City net change at

LINE13-ADDITIONALCHARGES		line 10. If a NewYork City business allocation percentage or investment
a)	Alate filing penalty is assessed if you fail to file this form when	allocation percentage is utilized, submit allocation schedule.
	due,unlessthefailureisduetoreasonablecause. Foreverymonth	Ifyouhaveatax-relatedquestionorproblem,call311. Ifcallingfromoutside
	or partial month that this form is late, add to the tax (less any pay-
	ments made on or before the due date) 5%, up to a total of 25%.	ofthefiveNYCboroughs,pleasecall212-NEW-YORK(212-639-9675).
b)	If this form is filed more than 60 days late, the above late filing	ACCESSING NYC TAX FORMS
	penaltycannotbelessthanthelesserof(1)$100or(2)100%ofthe	By Computer - Download forms from the Finance website at:
	amountrequiredtobeshownontheform(lessanypaymentsmade	nyc.gov/finance
	by the due date or credits claimed on the return).	nyc.gov/finance
	by the due date or credits claimed on the return).
c)	Alatepaymentpenaltyisassessedifyoufailtopaythetaxshownon	By Phone - call 311. If calling from outside of the five NYC boroughs,
	thisformbytheprescribedfilingdate,unlessthefailureisduetorea-	please call 212-NEW-YORK (212-639-9675).
	sonablecause. Foreverymonthorpartialmonththatyourpaymentis	Mail all returns, except refund returns:
	late,addtothetax(lessanypaymentsmade)1/2%,uptoatotalof25%.	Mail all returns, except refund returns:
d)	ThetotaloftheadditionalchargesinAandCmaynotexceed5%for	NYCDepartmentofFinance
	any one month, except as provided for in B.	P.O.Box5564
Ifyouclaimnottobeliablefortheseadditionalcharges,attachastatement		Binghamton,NY13902-5564
to your return explaining the delay in filing, payment or both.		Remittances-Pay online with Form NYC-200Vat nyc.gov/eservices,

LINE15-CLAIMFORREFUND		or Mail payment and Form NYC-200Vonly to:
LINE15-CLAIMFORREFUND
Where the federal or New York State change in business income would		NYCDepartmentofFinance
resultinarefund,FormNYC-115maybeusedasaclaimforrefund,pro-		P.O.Box3646
vided it is accompanied by a complete copy of the federal and/or New		NewYork,NY 10008-3646
York StateAudit Report or Statement ofAdjustment.
EffectivefortaxableyearsbeginningonorafterJanuary1,1989,ifthisre-		Returns claiming refunds:
portisnotfiledwithin90daysafterthenoticeofthefinalfederal(orNew		NYCDepartmentofFinance
YorkState)determination,nointerestshallbepaidontheresultingrefund.		NYCDepartmentofFinance
		P.O.Box5563
SCHEDULEA		Binghamton,NY13902-5563
LINES1THROUGH4
A-Profit(orloss)frombusinessorprofessionofasoleproprietor		PRIVACYACTNOTIFICATION
A-Profit(orloss)frombusinessorprofessionofasoleproprietor		TheFederalPrivacyActof1974,asamended,requiresagenciesrequestingSocialSecurityNumbers
	This is the amount of federal gross income from federal Schedule C,	toinformindividualsfromwhomtheyseekthisinformationwhethercompliancewiththerequestis
	Form1040,lessdeductions. Therefore,anyfederalorNewYorkState	voluntaryormandatory,whytherequestisbeingmade,andhowtheinformationwillbeused. Thedis-
	adjustmentaffectingnetprofit(orloss)fromabusinessorprofession	closureofSocialSecurityNumbersfortaxpayersismandatoryandisrequiredbysection11-102.1of
	mustbereportedonthisform,eventhoughthebusinessisnotsubject	theAdministrativeCodeoftheCityofNewYork. Suchnumbersdisclosedonanyreportorreturnare
	mustbereportedonthisform,eventhoughthebusinessisnotsubject	requestedfortaxadministrationpurposesandwillbeusedtofacilitatetheprocessingoftaxreturnsand
	to federal or state tax. For example, the disallowance of a deduction	toestablishandmaintainauniformsystemforidentifyingtaxpayerswhoareormaybesubjecttotaxes
	increasesnetprofitfromabusinessorprofessionandtheallowanceof	administeredandcollectedbytheDepartmentofFinance,and,asmayberequiredbylaw,orwhenthe
	an additional deduction not claimed on the original return decreases	taxpayer gives written authorization to the Department of Finance for another department, person,
		agencyorentitytohaveaccess(limitedorotherwise)totheinformationcontainedinhisorherreturn.
	net profit from a business or profession.

B-Partnershipincome

AnyfederalorNewYorkStateadjustmentsmadetoitemsofincome, gain,lossordeductionaffectingpartnershipincomefromfederalForm 1065 or 1065-B must be reported on this form.

C-Investmentincome

Any Federal or NewYork State adjustments made to items of invest- mentincomeorlossoftheunincorporatedbusinessalsoshouldbere- ported here.

Get Nyc 115 PDF Form

Form Characteristics

Fact Name	Description
Purpose	The NYC 115 form is used by unincorporated businesses to report changes in taxable income due to audits by the IRS or New York State Department of Taxation and Finance.
Filing Deadline	This form must be filed within 90 days after a final determination from the IRS or New York State.
Governing Law	It is governed by Title 11, Chapter 5 of the Administrative Code of the City of New York.
Required Attachments	Taxpayers must attach a copy of the audit report and a detailed explanation of adjustments made to income.
Refund Claims	The form can also be used to claim a refund if the federal or state changes result in an overpayment of tax.

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