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Department of Taxation and Finance

Personal income tax up-to-date information for 2008 (Articles 22 and 30)

The following changes were not reflected on the forms for 2008 when they went to print.

Select a tax form from the following list to identify the changes affecting that form. If a form is not listed, there have been no changes affecting that form.



  • IT-201-X and IT-203-X
     
    As a result of a recent amendment to section 105.20(e) of the personal income tax regulations that removes the temporary stay provisions from the definition of permanent place of abode, box 83(h) of Form IT-201-X and box 77(d) of Form IT-203-X should read as follows: Treaties/visa
     
    For additional information relating to the removal of the temporary stay provisions from the definition of permanent place of abode, see TSB-M-09(2)I, Amendments to the Definition of Permanent Place of Abode in the Personal Income Tax Regulations.
     
  • IT-204-LL-I
     
    The first sentence under Who must file should read as follows (the changes are boldfaced):
     
    This form must be filed by every LLC that is a disregarded entity for federal income tax purposes that has any income, gain, loss, or deduction from New York sources, and every LLC, limited liability investment company (LLIC), limited liability trust company (LLTC), or LLP that is required to file Form IT-204, Partnership Return.
     
  • IT-216-I
     
    The federal code identifying dependent care benefits received by a partner and shown in box 13 of Schedule K-1 (federal Form 1065) has changed for 2008. Therefore, the second paragraph under Dependent care benefits on page 2 of the instructions for Form IT-216 should read as follows (the change is boldfaced):
     
    Benefits you received as a partner should be shown in box 13 of your Schedule K-1 (federal Form 1065) with code O.
     
  • IT-255
      
    As a result of a change to Public Service Law section 66-j, the reference to 10 kilowatts (10,000 watts) in the definition of solar energy system equipment, listed under Definitions, should now be read as 25 kilowatts (25,000 watts)
     
     
  • IT-601, IT-603, IT-604, IT-605, IT-606
     
    Recent legislation requires all taxpayers filing these forms to attach a retention certificate issued by Empire State Development.
     
    For additional information see, TSB-M-09(5)C,(4)I, Legislative Changes to the Empire Zone Program for details.
     
  • IT-2105.9 
     
    As a result of recent legislation that increased the interest rate for underpayments of tax, the penalty rate used to compute the underpayment of estimated tax penalty has been increased. Accordingly, Form IT-2105.9, lines 22, 23, and 37, are revised as follows (the changes are boldfaced):
     
    22 Multiply line 21 by .04266 and enter the result here………………..
     
    23 If the amount on line 21 was paid on or after April 15, 2009, enter 0. If the amount on line 21 was paid before
                April 7, 2009, make the following computation to find the amount to enter on this line:
                Amount on line 21 x number of days paid before April 15, 2009, x .00016 =
                                                                      or
                April 15, 2009, but after April 7, 2009, make the following computation to find the amount
                to enter on this line:
     
                Amount on line 21 x number of days paid before April 15, 2009, x .00020 =
     
37 January 15-April 6 = 81/365 x 6% = .01331
  April 7 – April 15 = 9/365 x 7.5% = .00184
              or             or .01515 Total
  January 15 - ________ = __/365 x 6% = ._____
  April 7 - ________ = __/365 x 7.5% = ._____
                  Total
  • IT-2105.9-I  

    As a result of recent legislation that increased the interest rate for underpayments of tax, the penalty rate used to compute the underpayment of estimated tax penalty has been increased. Accordingly, Form IT-2105.9-I, is revised as follows (the changes are boldfaced):
     
    Page 1, 1st column
    Penalty rate – The penalty rate will be the federal short-term rate plus two percentage points, but not less than 6 % (7.5% on and After April 7, 2009). The rates from April 15, 2008, through April 15, 2009, are as follows:

                 April 15 to June 30, 2008- 7%
                 July 1 to September 30, 2008 – 6%
                 October 1 to December 31, 2008 – 7%
                 January 1 to April 6, 2009 – 6%
                 April 7 to April 15, 2009 – 7.5%
     
    Page 2, 2nd column, Line 23 Example
    Example: If the line 21 underpayment of $2,050 was paid April 8, 2009, you would compute the amount for line 23 as follows: $2,050 (amount on line 21) x 7 (number of days before April 15, 2009) x .00020 = $2.87.
     
    Page3, 1st column, 2nd paragraph under Schedule B instructions
    The rates are established at various times through the year. During 2008, there were three rates in effect over four periods.  
     
    Page 4, 1st column Line 37 – Enter on line 37, column D, the factor .01515 if no payment was made before April 15, 2009. If any payment….    

Other information

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