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Instructions for Form NYC-202S - 2022 Page 4
EXAMPLE mated tax made for calendar year 2022 or fiscal as interest and dividends from securities con-
#1 If the sole proprietorship carried on busi- year beginning in 2022 including carryover cred- nected with the business or carried as business
ness for a full 9 months, the exemption it from the preceding taxable year, and payment assets).
amount to be entered on line 4 is $3,750.03 with extension, NYC-EXT. Complete table on
page 2 of this return. LINE 3 - INCOME AND
(9 months X $416.67 per full month). UNINCORPORATED BUSINESS TAXES
#2 If the sole proprietorship carried on busi- LINE 12 - LATE PAYMENT/INTEREST Enter the amount of income and unincorporated
ness for 263 days, the exemption amount to If the tax is not paid on or before the due date business taxes imposed by New York City, New
be entered on line 4 is $3,603.10 (263 days (determined without regard to any extension of York State or any other taxing jurisdiction that
X $13.70 per day). time), interest must be paid on the amount of the were deducted in computing line 1.
Taxpayers filing a short period return should underpayment from the due date to the date paid.
fill in the dates at the top of page 1 of the For information as to the applicable rate of inter- LINE 5 - CHARITABLE
return and prorate the exemption as est, see the Finance website at CONTRIBUTIONS
described above. www1.nyc.gov/site/finance/taxes/business-inter- Deductions are allowed for charitable contribu-
est-rates.page or call 311. If calling from outside tions made by the unincorporated business, as a
LINE 5 - TAXABLE INCOME of the five NYC boroughs, please call 212-NEW- tax entity separate and distinct from its owners or
Enter here the amount of line 3 less line 4. (If YORK (212-639-9675). proprietors, to the extent they would be
loss, refer to the instructions for Schedule A, line deductible by a corporation for federal income
LINE 13 - OVERPAYMENT
1.) tax purposes, but not in excess of 5% of line 4.
If there is an overpayment on line 11, enter on In general, contributions deductible by a corpo-
LINE 6 - TAX line 13a the amount of overpayment to be ration are the same as those for individuals,
Enter on line 6 the amount obtained by multiply- refunded. Enter on line 13b the amount to be except that:
ing the amount entered on line 5 by 4%. credited to the 2023 estimated tax on Form
NYC-5UBTI. 1) contributions to fraternal societies, orders
and associations operating under the lodge
LINE 7 - BUSINESS TAX CREDIT LINE 14 - TOTAL REMITTANCE DUE system are not deductible; and
l If the amount entered on line 6 is $5,400 or If filing and paying electronically, enter the
2) contributions to a trust, chest, fund or foun-
over, no credit is allowable; enter “0” on amount of your remittance on Line A. If not pay-
dation
line 7. ing electronically, leave Line A blank. All remit-
l If the amount entered on line 6 is $3,400 or tances must be payable in U.S. dollars drawn on are deductible only if they are to be used within
less, your credit is the entire amount of tax on a U.S. bank. Checks drawn on foreign banks will the United States or its possessions.
line 6. No tax will be due. be rejected and returned. Remittances must be
payable to: SCHEDULE C
l If the amount of tax entered on line 6 NYC Department of Finance Additional Required Information
exceeds $3,400 but is less than $5,400, a All questions in this schedule (Questions 1
credit is allowed in the amount determined LINE 15 - GROSS RECEIPTS OR through 9) must be answered.
by multiplying the tax on line 6 by a frac- SALES FROM FEDERAL RETURN
tion, the numerator of which is $5,400 Enter the amount from line 3 of Schedule C COMPOSITION OF
minus the amount of the tax on line 6 and (Gross receipts or sales less returns and PREPAYMENTS SCHEDULE
the denominator of which is $2,000. Use allowances) or from line 1 of Schedule C-EZ Enter the payment date and the amount of all pre-
the following formula: (Gross Receipts) of Federal form 1040. payments made for this tax period.
FORMULA For interest calculations and account informa-
SCHEDULE B
Unincorporated Computation of Total Income tion, call 311. If calling from outside of the
tax on line 6 x ($5,400 - tax on line= 6) Business Tax five NYC boroughs, please call 212-NEW-
$2,000 Credit ITEMS OF BUSINESS INCOME, GAIN, YORK (212-639-9675).
LOSS OR DEDUCTION
EXAMPLE You can also visit the Finance website at
If the tax on line 6 is $3,900, the business tax LINE 1 - NET PROFIT nyc.gov/finance
credit is calculated as follows: (OR LOSS) FROM BUSINESS
Enter here the amount reported for federal tax PRIVACY ACT NOTIFICATION
purposes. This amount should be the amount The Federal Privacy Act of 1974, as amended, requires
agencies requesting Social Security Numbers to inform
1) $3,900 x ($5,400 $2,000 -3,900) = $2,925 reported on federal Schedule C or C-EZ, Form individuals from whom they seek this information as to
2) Enter $2,925 on line 7. 1040. whether compliance with the request is voluntary or manda-
tory, why the request is being made and how the informa-
3) Enter $975 ($3,900 -2,925) on line 8 LINE 2 - OTHER BUSINESS tion will be used. The disclosure of Social Security
(Unincorporated Business Tax) INCOME OR LOSS Numbers for taxpayers is mandatory and is required by sec-
tion 11-102.1 of the Administrative Code of the City of New
Enter the sum of: (a) the total gain or loss from York. Such numbers disclosed on any report or return are
LINE 8 - UNINCORPORATED the sale or exchange of real or personal property requested for tax administration purposes and will be used
BUSINESS TAX carried as business assets and reported on feder- to facilitate the processing of tax returns and to establish and
maintain a uniform system for identifying taxpayers who
Enter on line 8 the unincorporated business tax al Schedule D or federal Form 4797; (b) the net are or may be subject to taxes administered and collected by
due. If the credit on line 7 equals the tax shown amount of rental and royalty income derived the Department of Finance, and, as may be required by law,
on line 6, enter “0” on line 8. from real and personal business property report- or when the taxpayer gives written authorization to the
ed on federal Schedule E; and (c) the net amount Department of Finance for another department, person,
agency or entity to have access (limited or otherwise) to the
LINE 9 - PAYMENT OF ESTIMATED TAX of income or loss derived from other business information contained in his or her return.
Enter on line 9 the sum of all payments of esti- activities, other than those reported above (such
NYC-202S Instructions - 2022
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