The New York Youth Works Tax Credit Program was established by Chapter 56 of the Laws of 2011 to provide corporate and income tax incentives to qualified businesses employing at-risk youths in full-time and part-time positions. The program is administered by the Department of Labor.
Chapter 59 of the Laws of 2012 made several legislative amendments to the program. These amendments extend certain program deadlines and clarify the tax year(s) in which the separate components of the tax credit will be allowed. This memorandum describes the amendments made to the program under section 25-a of the Labor Law and sections 210.441 and 606(tt)2 of the Tax Law.
• The Labor Law has been amended to extend the application deadline for employers to participate in the program from June 1, 2012, to November 30, 2012. In addition, the deadline for qualified employees to start their employment under this program has been extended from July 1, 2012, to December 31, 2012.

• The Tax Law has been amended to clarify the tax year(s) in which a qualified employer will be allowed to claim a tax credit under the program as follows:
◦ A qualified employer will be allowed a credit amount of $500 per month for up to six months for each qualified employee employed in a full-time job, or $250 per month for up to six months for each qualified employee employed in a part-time job of at least 20 hours per week. The new law provides that this component of the credit will be allowed in the tax year in which the wages are paid to the qualified employee.
◦ A qualified employer will be allowed an additional credit of $1,000 for each qualified employee who is retained in a full-time job for six months beyond the first six months of employment (employed one full year). The new law provides that this
component of the credit will be allowed in the tax year in which the additional
six-month period ends.
◦ A qualified employer will be allowed an additional credit of $500 for each qualified
employee who is retained in a part-time job for six months beyond the first six
months of employment (employed one full year). The new law provides that this
component of the credit will be allowed in the tax year in which the additional
six-month period ends.

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Summary of Tax Provisions contains:

• descriptions of the tax provisions contained in the budget legislation enacted for New York State’s fiscal year 2012-13
• a tabular guide to the tax provisions in the budget bills, listing each provision and its bill section, page, description, and effective date.

Summary of SFY 2012-13 Tax Provisions

Tax Credits
New York Youth Works Tax Credit Program
Biofuel Production Credit
New York State Low-Income Housing Credit
Empire State Commercial Production Credit
Noncustodial Parent Earned Income Tax Credit
Tax Modernization
E-File Mandate and Tax Modernization
Corporate Taxes
Gramm-Leach-Bliley Transitional Provisions
Fuel Taxes
Alternative Fuel Exemptions Extended
Diesel Motor Fuel Tax Definitions – Technical Fix
Real Property Taxes
Extending Oil and Gas Charges 4
Eliminating STAR for those with Past Due Obligations 5
Miscellaneous Provisions
MCTMT Rates for Professional Employer
Organizations
Extend the lower Pari-Mutuel Tax Rates
Distribution of Revenue from Sections 183 and 184
Amend Hotel Room Remarketer Sales Tax Compliance
Public Safety Communications Surcharge
Appendix Appendix A: Index of SFY 2012-13 Tax Provisions
Appendix B: Summary of Tax Changes Enacted in 2011
Extraordinary Legislative Session

Beginning April 1, 2012, the New York State sales tax clothing exemption is restored to the original less-than-$110 threshold.

Sales of eligible clothing and footwear costing less than $110 per item or pair are exempt from the state’s 4% sales tax and local tax in those localities that enacted the exemption.

These sales are only exempt from the ⅜% Metropolitan Commuter Transportation District (MCTD) tax in those localities within the MCTD that enacted the exemption from their local tax.

• TSB-M-12(3)S, State Sales Tax Exemption for Clothing and Footwear Costing less than $110 is Restored Effective April 1, 2012

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Some employers with small payrolls, including government employers, file an annual return, Form 944, instead of Form 941 each quarter. Form 944 generally is due on January 31st of the following year (e.g., January 31, 2012 for the 2011 tax year). The purpose of Form 944 is to reduce burden on small business taxpayers by allowing certain employers to file one employment tax return per year to report social security, Medicare, and withheld federal income taxes, and in most cases pay the employment tax with the return. Form 944 is designed for employers with an annual liability of $1,000 or less for social security, Medicare, and withheld federal income taxes.

Employers are not permitted to file Form 944 unless they are notified by the IRS that they qualify to file this form. Employers who may be eligible to file Form 944, because their estimated annual employment tax liability is $1,000 or less, have to contact the IRS to elect to file annually (Form 944). Employers required to file Form 944, who want to file Forms 941 instead, must notify the IRS they are electing to file quarterly Forms 941 and opting out of filing Form 944. For further information, see Revenue Procedure 2009-51 and the Form 944 Instructions.

Employers notified to file Form 944 whose businesses grow during the year and exceed the $1,000 eligibility threshold must still file Form 944 for the year. Employers who exceed the eligibility threshold will be notified by the IRS that their filing requirement has been changed to Form 941 for a particular year.

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Taxpayers who are out of the country. If, on the regular due date
of your return, you are out of the country and a U.S. citizen or
resident, you are allowed 2 extra months to file your return and pay
any amount due without requesting an extension. For a calendar
year return, this is June 15, 2012. File this form and be sure to
check the box on line 8 if you need an additional 4 months to file
your return.
If you are out of the country and a U.S. citizen or resident, you
may qualify for special tax treatment if you meet the foreign
residence or physical presence tests. If you do not expect to meet
either of those tests by the due date of your return, request an
extension to a date after you expect to qualify using Form 2350,
Application for Extension of Time To File U.S. Income Tax Return.

You are out of the country if:
• You live outside the United States and Puerto Rico and your main
place of work is outside the United States and Puerto Rico, or
• You are in military or naval service outside the United States and
Puerto Rico.
If you qualify as being out of the country, you will still be eligible
for the extension even if you are physically present in the United
States or Puerto Rico on the regular due date of the return.
For more information on extensions for taxpayers out of the
country, see Pub. 54, Tax Guide for U.S. Citizens and Resident
Aliens Abroad.

Form 1040NR or 1040NR-EZ filers. If you cannot file your return by
the due date, you should file Form 4868. You must file Form 4868
by the regular due date of the return.
If you did not receive wages as an employee subject to U.S.
income tax withholding, and your return is due June 15, 2012,
check the box on line 9.

Total Time Allowed
Generally, we cannot extend the due date of your return for more
than 6 months (October 15, 2012, for most calendar year
taxpayers). However, there may be an exception if you are living
out of the country. See Pub. 54 for more information.

Filing Your Tax Return
You can file your tax return any time before the extension expires.
Do not attach a copy of Form 4868 to your return.
Interest
You will owe interest on any tax not paid by the regular due date of
your return, even if you qualify for the 2-month extension because

you were out of the country. The interest runs until you pay the tax.
Even if you had a good reason for not paying on time, you will still
owe interest.

Late Payment Penalty
The late payment penalty is usually ½ of 1% of any tax (other than
estimated tax) not paid by April 17, 2012. It is charged for each
month or part of a month the tax is unpaid. The maximum penalty
is 25%.
The late payment penalty will not be charged if you can show
reasonable cause for not paying on time. Attach a statement to
your return fully explaining the reason. Do not attach the statement
to Form 4868.
You are considered to have reasonable cause for the period
covered by this automatic extension if at least 90% of your actual
2011 tax liability is paid before the regular due date of your return
through withholding, estimated tax payments, or payments made
with Form 4868.

Late Filing Penalty
A late filing penalty is usually charged if your return is filed after the
due date (including extensions). The penalty is usually 5% of the
amount due for each month or part of a month your return is late.
The maximum penalty is 25%. If your return is more than 60 days
late, the minimum penalty is $135 or the balance of the tax due on
your return, whichever is smaller. You might not owe the penalty if
you have a reasonable explanation for filing late. Attach a
statement to your return fully explaining the reason. Do not attach
the statement to Form 4868.

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Exempts from the definition of “employee” for purposes of this Act professional athletes, professional entertainers, and public figures who are persons of prominence who perform services for wages or other remuneration on a per-event basis.

Makes this Act effective on January 1 of the 2nd year that begins after the enactment of this Act. Renders this Act inapplicable to any tax obligation that accrues before the effective date of this Act.

THOMAS link

The Application for Automatic Extension of Time to File (Form IT-9) is used to obtain an automatic 60-day extension of time to file an Indiana resident or nonresident income tax return (Indiana Forms IT-40, IT-40PNR, and IT-40 RNR). Any taxpayer who wishes to request an extension of time to file must complete and file Form IT-9 on or before the original due date of the Indiana individual income tax return. If an application for extension is filed, at least 90 percent of the state and/or county tax due for the entire tax year must have been paid by the taxpayer and/or withheld by the taxpayer’s employer.

The payment made with Form IT-9 should be claimed as an estimated tax payment at the time of filing Form IT-40, IT-40PNR, or IT-40 RNR. This is only an extension of time for filing the taxpayer’s return. This is not an extension of time to pay any state and/or county tax due.

If the taxpayer has a valid federal extension, Form 4868, and 90 percent of the state and/or county tax due for the tax period has been paid, the taxpayer automatically has an extension with Indiana and does not need to file Form IT-9. The Indiana Department of Revenue will accept the federal extension if a copy is attached to the taxpayer’s return at the time of filing. The taxpayer will have 30 days beyond the federal extension period in which to file his Indiana return, subject to the provisions of IC 6-8.1-6. For example, if federal extension Form 4868 extends the taxpayer’s federal filing date to October 15, the taxpayer’s Indiana filing date automatically becomes November 15.
If the taxpayer does not have a federal extension, he is required to file Form IT-9, even if there is no tax due on his Indiana individual income tax return. If the taxpayer is due a refund or does not expect to owe any tax when the tax return is filed and is unable to file by the due date, generally April 15, the taxpayer will still need to file for an extension by completing Form IT-9, Part 2: Nonpayment Information. Form IT-9 extends the taxpayer’s Indiana filing time 60 days, subject to the provisions of IC 6-8.1-6.

II. PENALTY AND INTEREST CHARGES
Form IT-9 or a federal extension does not extend the due date for the payment of the tax. A penalty may be assessed on any state or county tax paid after the due date of the return. However, a penalty will not be assessed if the taxpayer files the income tax return within the extension period and the balance due on the tax return is:
• Not in excess of 10 percent of the amount of state and county tax due on the tax return; and
• Paid with the return.

Any penalty that is due with the filing of the taxpayer’s return is calculated at 10 percent of the tax that is owed with the return or $5.00, whichever is greater. Any penalty due with the return should be reported on Form IT-40, IT-40PNR, or IT-40 RNR.

Interest will be charged on any amount due with the taxpayer’s return filed late and should be calculated from the original due date of the return until the tax is paid. Interest is charged even though an extension may have been granted. Please refer to Departmental Notice # 3 for the current interest rate, which changes annually. The interest should be added to the amount shown as due on the tax return.

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Form IT-9 Indiana Department of Revenue Application for Extension of Time to File 2011

Who should get an extension of time to file? You must get an extension of time to file if you are required to file a 2011 Indiana individual income tax return, but cannot file by the April 17, 2012 due date. Whether you owe additional tax, are due a refund or are breaking even, you still need to file for an extension.

If you owe… To get a valid extension, you must file Form IT-9, and send in a payment of at least 90% of the tax expected to be due, by April 17, 2012. This will extend your time to file to June 18, 2012.

If you don’t owe… If you are due a refund, or don’t expect to owe any tax when filing your tax return, and you are unable to file by April 17, 2012, you’ll still need to file for an extension. There are two ways to accomplish this:
• If you have a valid federal extension, Form 4868, you automatically have an extension with Indiana and do not need to file Form IT-9.
• If you do not have a federal extension, complete Form IT-9, Part 2: Nonpayment Information. Mail this in by April 17, 2012.

Extension period. Form IT-9 extends your filing time to June 18, 2012. Federal exten-sion Form 4868 extends your Indiana filing time to Nov. 19, 2012.
Penalty will not be due if you:
• file within the extension period;
• paid at least 90% of the tax you expect to owe by April 17, 2012, and
• pay any remaining amount due when you file.
Interest is due on all amounts paid after the April 17, 2012 due date.

How to file. Complete the worksheet below to figure how much you will need to pay. If filing a joint return, include your spouse’s income. If you don’t owe, complete Part 2: Nonpayment Information on the front of this form.

How to pay. If paying, make your check or money order payable to the Indiana Department of Revenue. Write your Social Security number on your check or money order. Payments must be made with U.S. funds. To pay by using your American Express® Card, Discover® Card, MasterCard® or VISA®, call 1-800- 2-PAY TAX (1-800-272-9829). A convenience fee will be charged by the credit card processor based on the amount you are paying. You will be told what the fee is and you will have the option to either cancel or continue the credit card transaction.

File online. If you need to make an extension payment, you may file your application for an extension of time to file online. Visit  web site at www.in.gov/dor/4340.htm and follow the prompts for making an Individual extension payment.

Claim your payment. Add your extension payment to any estimated tax paid, and report on line 3 of either the Form IT-40, Schedule 5, or Form IT-40PNR,
Schedule F.

Military personnel stationed in a presidentially declared combat zone should see the Form IT-40 or Form IT-40PNR instruction booklet for special filing instructions. You can access these instruction booklets online at www.in.gov/dor/4546.htm

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You don’t need to apply for one. Here’s what you should do if you can’t file by April 17, 2012:

• You are due a refund — File your return by October 15, 2012. Choose e-file and direct deposit for the fastest refund.
• You have a balance due — Pay the amount you owe by April 17¹, 2012 to avoid penalties and interest. You can pay online, by credit card, or by check with form FTB 3519. Then file your return by October 15, 2012. Choose e-file to ensure that we receive your return on time.
• You’re not sure if you have a balance due — Use the worksheet on form FTB 3519 to figure your tax.

Read more about California tax return extension for 2011.

Some taxpayers might decide to file their state and federal return on paper this year. In this video, Tax Commissioner Cory Fong discusses the paper PDF fillable forms that are available on the Tax Department’s web site.

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• you can electronically file Form 4868 (PDF), Application For Automatic Extension of Time To File U.S. Individual Tax Return;
•  you can pay all or part of your estimate of income tax due using a credit or debit card; or
•  you can file a paper Form 4868 by mail.

If you file your Form 4868 electronically you will receive an acknowledgement or confirmation number for your records and you do not need to mail in Form 4868. If you need to pay additional taxes when filing Form 4868 electronically, you may do so through the outside service provider or through e-file. You can refer to your tax software or tax professional for ways to file electronically using e-file services. Several companies offer free filing of Form 4868 through the Free File program that you can access on the IRS.gov website. If you wish to file electronically, be sure to have a copy of last year’s tax return. You will be asked to provide the Adjusted Gross Income from the return for taxpayer verification.

A second way of requesting an automatic extension of time to file your individual income tax return is to pay part or all of your estimate of income tax due by credit card or debit card. You may pay by phone or Internet through one of the service providers listed on Form 4868. Each service provider will charge a convenience fee based on the amount of the tax payment. At the completion of the transaction, you will receive a confirmation number for your records.

You can also request an automatic extension of time to file your individual income tax return by completing paper Form 4868 and mailing it to the appropriate address provided on the Form.

Extension of time to file is NOT an extension of time to pay.

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