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Page 2 of 2 ST-340 (1/18)
Instructions
General information must file a separate report for each project, even if authorized by the
same IDA.
Who must file
The General Municipal Law (GML) and the Public Authorities Date project began: Enter the date the project started (this means
Law require the agent/project operator (also known as the project the earliest of the date of any bond or inducement resolution, the
occupant) of an Industrial Development Agency or Authority (IDA) execution of any lease, or any bond issuance). Include month, day,
to file an annual report with the Tax Department. The agent/project and year.
operator required to file this report is the person directly appointed Completion date of project: Enter the date installation, lease, or
by the IDA to act for and to represent the IDA for the project. The rental of property (for example, machinery or computers) on the
agent/project operator is ordinarily the one for whom the IDA project project ended, or the date the project is expected to be completed.
was created. Mark an Xin the appropriate box to indicate if the date entered is
There is usually only one agent/project operator directly appointed actual or expected.
by the IDA for an IDA project. However, if the IDA directly appoints Total sales and use tax exemptions: Enter the total amount of
multiple agents/project operators, each agent/project operator must New York State and local sales and use taxes exempted during the
file this form (unless they are related corporations). reporting period as a result of the project’s receipt of IDA financial
Only the agent/project operators directly appointed by the IDA assistance (if none, enter )0 . This includes exemptions obtained at
must file Form ST-340. Contractors, subcontractors, consultants, the time of purchase, as well as through a refund or credit of tax
or agents appointed by the agent/project operators should not paid. Include the sales and use taxes exempted on purchases of
themselves file Form ST-340. However, the agent/project operators property or services incorporated into or used on the exempt project.
must include on Form ST-340 information obtained from such This includes the taxes exempted on purchases made by or on
contractors, subcontractors, consultants, and agents, as described behalf of the agent/project operator, the general contractor for the
below. project, and any subcontractors, consultants, or others. Do not enter
total purchases.
What you must report
The report must show the total value of all state and local sales Representative information
and use taxes exempted during the calendar year, as a result of If applicable, enter the name, address, title (for example, attorney or
the project’s designation as an IDA project. This includes: accountant), and telephone number of the individual you authorize
to submit this report. This section is not required.
• the value of the exemptions the agent/project operator (you)
obtained; and Certification
• the value of the exemptions obtained by your contractors, Enter the name and title of the person signing on your behalf (for
subcontractors, consultants, and others, whether or not appointed example, the IDA agent/project operator’s officer, employee, or other
as agents of the IDA. authorized representative). Your officer, employee, or authorized
Include only the total combined exemptions obtained by the above representative must sign and date the report.
people. A breakdown of the total is not required. However, since the Mail completed report to:
report must include the value of the exemptions they obtained, you
must keep records of the amounts others report to you. NYS TAX DEPARTMENT
IDA UNIT
You must make it clear to the contractors, subcontractors, W A HARRIMAN CAMPUS
consultants, and others that they must keep accurate tax information ALBANY NY 12227-0866
and have it available, so that you can comply with the annual
reporting requirements. If not using U.S. Mail, see Publication 55, Designated Private
Delivery Services.
Do not include on this report the amount of any sales and use tax
exemptions from other provisions of the Tax Law (for example,
manufacturer’s production equipment exemption, research and Need help?
development exemption, or contractor’s exemption for tangible
personal property incorporated into a project of an exempt
organization). Visit our website at www.tax.ny.gov
• get information and manage your taxes online
When the report is due • check for new online services and features
You must file Form ST-340 on a calendar-year basis. It is due by the
last day of February of the following year. The reporting requirement Telephone assistance
applies to IDA projects started on or after July 21, 1993.
Sales Tax Information Center: 518-485-2889
Project information To order forms and publications: 518-457-5431
At the top of the form, identify the reporting period by entering the Text Telephone (TTY) or TDD Dial 7-1-1 for the
year in the space provided. If an address is required, always include equipment users New York Relay Service
the ZIP code.
Name of IDA agent/project operator: Enter your name, address, Privacy notification
employer identification number (EIN), and telephone number.
New York State Law requires all government agencies that maintain
Name of IDA and IDA project number: Enter the name and a system of records to provide notification of the legal authority
address of the IDA. If more than one IDA is involved in a particular for any request for personal information, the principal purpose(s)
project, you must file a separate report for the tax exemptions for which the information is to be collected, and where it will be
attributable to each IDA. Also enter the ID project number. maintained. To view this information, visit our website, or, if you do
not have Internet access, call and request Publication 54, Privacy
Name of project: Enter the name of the project and the address Notification. See Need help? for the Web address and telephone
of the project site. If you are involved in more than one project, you number.
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