Tc309 2020 21 instructions-2026

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The document is a certification form (TC309) required by the Tax Commission of the City of New York for applications related to rent-producing properties with an assessed valuation of $5,000,000 or more and income exceeding $100,000. It mandates that an independent certified public accountant audit and certify the accompanying income and expense statement (Form TC201). The certification must be attached to the application and cannot be submitted separately. It outlines the responsibilities of both the applicant and the auditor, including adherence to specific accounting principles.

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Click ‘Get Form’ to open the TC309 document in the editor.
Begin by filling in the property details, including the borough, block number, and lot number. Ensure accuracy as this information is crucial for your application.
In the section for the independent auditor’s report, provide the name of the applicant and specify the months covered by your audit. This ensures clarity regarding the financial period being reported.
Select whether you are using an accrual or cash basis for your income and expenses. Make sure to check off the appropriate box to indicate your accounting method.
Complete any additional fields related to other income and expense items that are excluded from Form TC201. This helps maintain transparency in your financial reporting.
Finally, ensure that a certified public accountant signs and dates the form. Their signature is essential for validation of your submission.

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What is the NYC tax commission fee?

Tax Commission (TC) The Tax Commission charges a $175 fee for each assessment review held for properties with an assessed value of 2 million dollars or more or a market value of 4 1/2 million dollars or more. This fee will appear on the property owners property tax bill.

How much is the tax in NYC?

If products are purchased, an 8.875% combined City and State tax will be charged. The City charges a 10.375% tax and an additional 8% surtax on parking, garaging, or storing motor vehicles in Manhattan.

What is the enhanced real property tax credit in NYC?

NYC Enhanced Real Property Tax credit is designed for NYC residents who have a household gross income of less than $200,000 and pay either real property taxes or rent for their residences. The credit can be as much as $500.

What agency in NYC is in charge of taxes?

Department of Taxation and Finance.

How much does NYC tax on commission?

If the commission is paid separately from your regular paycheck, its considered to be a supplemental wage and is taxed at the 22% rate. Employers must also withhold Social Security and Medicare taxes from supplemental wages.

Tc309 2020 21 instructions-2026

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