New York Releases Advisory Opinion On Sales For Solar Energy Systems
The New York Department of Taxation and Finance issued an Advisory Opinion on the application of sales and use tax on the sale and installation of residential and commercial solar energy systems. Petitionerstwo partnerssold commercial and residential solar energy systems to customers primarily located in upstate New York. One partner procured and provided components required for the installation of the solar energy systems, and the other partner was responsible for the transportation and installation at customers sites. The Department concluded that retail sales and installations of both residential and commercial solar energy systems were exempt from sales tax but are exempt from local tax only if the locality has enacted the exemption. Please see New York Advisory Opinion No. TSB-A-20S for further discussion.
Are New York State Tax Refunds Delayed
If you are expecting to be refunded money owed to you, you need to know when you can expect to receive it.
Disruptions to the receipt of money due can be very problematic because outgoings dont stop just because incoming money is delayed.
And if you dont know when the money is due to arrive, it is hard to know whether you need to dip into your savings to cover costs.
New York state may be considered one of the richest parts of the country, but to be honest many New Yorkers are living just within their means, which means any delay in New York state tax funds could have a crippling, cascading effect for some.
In this article, were going to discuss whether or not New York state tax refunds are delayed, how long the refunds are taking to process, and what to do if your refund is delayed.
Please feel free to scroll ahead to any section that jumps out at you. Here goes.
Contents
Check The Status Of Your Income Tax Refund
ONLINE:
- Click on TSC-IND to reach the Welcome Page
- Select Check the Status of Your Refund found on the left side of the Welcome Page.
-
You must have your social security number and the exact amount of the refund request as reported on your Connecticut income tax return. Enter the whole dollar amount of the refund you requested. For example, if you requested a refund of $375, enter 375.
NOTE: Please be aware that for all direct deposit refunds you must allow at least two business days after the date the refund is processed for the credit to be in the account.
TELEPHONE:
- Call our automated refund system 24 hours a day and check the status of your refund by calling 800-382-9463 or 860-297-5962 . You will need your social security number and the exact amount of the refund request as reported on your income tax return. Enter the whole dollar amount of the refund you requested followed by the # sign. For example, if you requested a refund of $375, enter 375#. You can only check the status of the refund for the current filing season by telephone.
Paper Returns: Due to the volume during the filing season, it takes 10 – 12 weeks to process paper returns. Until the return is processed, your return will not appear on our computer system and we will not be able to check its status or to give you information about your refund. NOTE: Please consider using one of the electronic filing options. Visit our Online Filing Page for more information.
Read Also: Is Mortgage Interest Tax Deductible
New York Provides Updates For Housing Development Fund Projects Covid
Effective April 16, 2021, New York exempts certain housing development fund projects from sales and use tax, and provides for a COVID-19 debt relief credit against corporate income tax. For specific details, please see L. 2021, A3006 . Further, New York has extended certain Brownfield credit periods for two years for specified taxpayers that failed to meet credit requirements due to COVID-19 pandemic restrictions.For information pertaining to the Brownfield credit extension, please see L. 2021, S2508 .
New York Auditing Income Tax Returns Of Certain Nonresident Remote Employees
New York tax authorities are focused on auditing 2020 income tax returns filed by nonresidents who work for New York employers. During the course of the Coronavirus Pandemic, the New York Department of Taxation and Finance directed nonresidents whose primary office is in New York to count telecommuting days as time working in the state. More specifically, TSB-M-06I, issued in 2006, provides that in order for any workdays to be allocated outside of New York State, such services must be because of the employers necessity and not the employees convenience. Applying this rule, unless telecommuting was because of the necessity of the employer, employee services rendered remotely were to be considered New York workdays. However, there may be legal challenges to that position because taxpayers are arguing telecommuting was a requirement and, in many cases, mandated rather than simply being based on convenience. Moreover, the U.S. Supreme Court will rule on a similar issue as requested by New Hampshire, which is challenging Massachusetts taxation of residents working remotely.
Read Also: File State And Federal Taxes For Free
Respond To A Department Notice
If you receive a bill or notice, respond online. It’s the easiest, fastest way. We’ll walk you through the process.
Note: If your refund status says we sent you a letter requesting additional information, see Respond to a letter for more information and to review our checklists of acceptable proof.
Technical Memorandum Issued By The Department Of Taxation And Finance
Pursuant to the enactment of the 2019-2020 Budget Bill, the Department of Taxation and Finance issued a technical memorandum discussing the sales tax collection requirements for marketplace providers. The memorandum reflects an increase in the sales threshold amount from $300,000 to $500,000, which is retroactive to June 1, 2019. Taxpayers affected by this change must register with the Department at least 20 days before beginning business in the state. This memorandum supersedes TSB-M-19S issued on May 31, 2019. S, 17/10/2019.)
Recommended Reading: Are Municipal Bonds Tax Free
Where Is My New York State Tax Refund Status
You can also find out when your refund will be issued by signing up for Tax Department email alerts. Visit the Tax Department homepage at www.tax.ny.gov and select subscribe at the bottom of the page. Dont have a computer or smart phone? Call the Tax Departments automated refund-status line anytime at 518-457-5149.
General Tax Return Information
Due Date – Individual Returns – April 15, or same as IRS
Extensions – The New York Tax Department does not accept federal Form 4868 in place of an NYS extension request using Form IT-370, Application for Automatic Extension of Time to File for Individuals. Form IT-370 must be filed on or before the filing deadline to receive a six month extension of time to file. Taxpayers must, however, make full payment of the properly estimated tax balance due when requesting extension of time to file.
Special filing deadlines:
- Taxpayers outside of the country with a Federal due date of June 15 can file their return or extension by June 15. If filing an extension, the return due date is extended four months to October 15.
- Nonresident aliens with a Federal due date of June 15 can file their return or extension by June 15. If filing an extension, the return due date is extended six months to December 15.
- A taxpayer who is not a nonresident alien and whose spouse dies within 30 days of the April 15 due date is given an additional three months to file their return or extension, and if filing an extension the return due date is October 15.
- A nonresident alien whose spouse dies within 30 days of the June 15 due date is given an additional three months to file their return or extension, and if filing an extension the return due date is December 15.
You May Like: Sales Tax In North Dakota
Ny Provides Guidance To Tax Professionals Amidst Pandemic
A newsletter was recently issued by The New York Department of Taxation and Finance reminding tax professionals of the information on its website to provide relief during the COVID-19 pandemic. This information includes the extension of the income tax filing and payment due date to July 15, 2020, for individuals, fiduciaries, and corporations. Tax professionals should also have clients contact the Department if they cannot make their regularly scheduled tax payments due to COVID-19. The Department reminds tax professionals that the monthly sales tax return is due on May 20, 2020. For additional information, go to the Q& A section here.
Wheres My State Tax Refund Georgia
Track your Georgia tax refund by visiting the Georgia Tax Center and clicking on Wheres my Refund? in the middle of the page under Individuals. You will be able to check returns for the current tax year and as far back as four years ago. It is possible for a refund to take as long as 90 days to process. If you have not received a refund or notification within that time, contact the states revenue department.
Read Also: How Much Is A Vacation To New York
Recommended Reading: Free Tax Filing H& r Block
Judge Reverses Decision On Non
An administrative law judge recently issued a decision that reversed the Division of Taxations determination of a taxpayers software product sales . The taxpayers service allows agents to access detailed financial reports of personal commissions and performance, and a projection for what is needed to reach their next goal. The administrative law judge determined that since these reports are specific to an individual with minimal overlap of a previous report that it will not be subject to tax. In this case, the judge made a clear distinction between the personal information services offered by the taxpayer and SaaS. Had the judge determined that the taxpayer was selling SaaS and not a personal information service, then the taxpayer would have been required to collect and remit sales tax.
Was Your Refund Less Than You Expected
Owing money to any New York state agency can result in your income tax refund being seized. If youre behind on child support or have unpaid restitution or court fees, your state refund taxes can be used to pay those debts.
Your tax refund may be less than you expected because you made an error on your tax return. The Department of Taxation will notify you of the changes made to your return. Review the information provided to ensure you agree with the changes made.
Recommended Reading: How To Amend Tax Return Turbotax
Explore Our Financial Education Program
The Financial Education Program is a series of short modules and videos designed to take you through the benefits available to you and the responsibilities you have as a New York State taxpayer. You can start anywhere in the series or review all the modules. This is for youlet us know what you think!
Nys Tax Departmenttax Tips For Individuals: Learn About Requests For Information
Having trouble viewing this email? View it as a webpage.
Understanding our new Request for Information letter
Most returns sail through our award-winning, automated fraud-detection review. We hope your return does too!
But some returns require additional information or review before we can process them. In this edition of Tax Tips for Individuals, were featuring the primary letter we use to request information about a return: Form DTF-948 or DTF-948-O, Request for Information, .
Recommended Reading: Penalty For Missing Tax Deadline
File Nys Taxes & Get Your Tax Refund Faster
Nonresidents and partial-year residents of New York are required to use Form IT-203 to file annual NYS income tax returns. Residents must use Form IT-201 and send it to the State Processing Center. If a refund is expected, mail the return to: PO Box 61000 For any return with taxes due, attach Form IT-201-V and mail to: PO Box 15555 Albany, NY 12212-5555 Since its annual tax revenue is more than $71 billion, New York ranks second in the nation behind California for the highest income tax revenue. Income tax rates range between 4% and 8.82%, which is slightly higher than the national average range. April 15 is the due date for mailing or e-filing NYS taxes and extension requests. October 15 is the deadline for extended NYS tax returns. If more time is necessary to file, use Form IT-370 to request an extension. The extension grants extra time to file but not extra time to pay any tax due. If tax is due, send payment by April 15 to avoid penalties. Taxpayers can track NYS tax refunds online at www.tax.ny.gov/pit/file/refund.htm. To check on a prior return, refund or amended return, call 518-457-5181.
Definition Of Qualified New York Manufacturer Changes
For tax years beginning on or after January 1, 2018, the definition of a qualified New York manufacturer has been changed to use the New York State adjusted basis rather than the federal adjusted basis when determining whether a manufacturer meets the $1 million or $100 million property thresholds for determining eligibility for the manufacturers tax rate reductions and the real property tax credit. A qualified New York manufacturer is a manufacturer that is principally engaged in the production of goods by manufacturing, processing, assembling, refining, mining, extracting, farming, agriculture, horticulture, floriculture, viticulture, or commercial fishing during the tax year that either has property in New York State of the type described for the investment tax credit that has an adjusted basis for New York State tax purposes of at least $1 million at the end of the tax year, or has all of its real and personal property in New York State. C, I, 10/18/2019.)
Don’t Miss: Department Of Tax Debt And Financial Settlement Services
New York Appeals Court Upholds Goldman Sachs Capital Gains Tax Treatment
In 2008, Goldman Sachs investment company Petershill US IM Master Fund LP purchased 9.9% of Claren Road Asset Management LLC . Goldmans Master Fund had no activity or physical presence in New York City but Claren was engaged in business activities in the city. Since Goldman owned a certain percentage of the investment, when Goldman sold their ownership of Claren in 2010 it is expected that Goldman pays capital gains tax on the profit, however, Goldman Sachs did not. Due to Goldman Sachs not reporting the capital gain on their 2010 New York City General Corporation tax return, it led to a New York audit in 2014 and eventually a $4 million assessment.
Goldman Sachs protested the assessment in 2018 when an administrative law judge had sided with the city. Following this, in 2022, Goldman Sachs had gone to the appellate court where they also sided with the city concluding, while the investment teams business acumen may have influenced the timing of petitioners sale of its partnership interest, it was rational for the Tribunal to conclude that the capital gain was attributable to the value of Claren on the date it was sold. Since Claren had business activities in New York, the courts found it to be reasonable that the nexus established by Claren allows them to tax on profits of the company.
New York City Musical And Theatrical Production Tax Credit For Corporate And Personal Income Tax
On July 23, 2021, Governor Andrew Cuomo announced the New York City Musical and Theatrical production tax credit which is designed to revitalize the theater district after its closure due to the Covid-19 pandemic by offering up to $100 million in tax credits. The two-year program for approved companies will allow tax credits for up to 25% of qualified production expenditures such as sets, costumes, sound, lighting, salaries, fees, advertising costs, etc. First-year program applicants can receive up to $3 million per production and second-year applicants up to $1.5 million. Companies can receive credits for tax years beginning on or after January 1, 2021, but before January 1, 2024. Applications must be submitted by December 31, 2022, and final applications no later than 90 days after the production closes or 90 days following the program end date of March 31, 2023, whichever comes first.
Don’t Miss: H& r Block Tax Identity Shield
New York City Legislation To Suspend Commercial Rent Tax
As a result of the pandemic, Keith Powers, New York City Councilman has introduced new legislation to suspend the commercial rent tax for three years. This suspension would affect spaces rented by businesses below 96th Street in Manhattan that are solely for the purpose of trade, business, profession, vocation or commercial activity. As of the date of introduction, the Bill has support from Councilman Powers as well as six additional City Council members. New York City has only regained about 71 percent of jobs lost during the pandemic, and about 26,000 city businesses have permanently closed since the COVID-19 pandemic began in March of 2020. Council members in support of the legislation were quoted stating that commercial rent tax punishes restaurants and retail shops for paying high rents and the legislation would provide relief to help recover jobs, foot traffic and businesses.
May 27, 2022
New York Issues Guidance On The Application Of Tax Credits On Combined Returns
New Jersey has indicated that with respect to combined returns, tax credits belong to the taxable member that earned them unless a specific statute authorizes the tax credit to be earned or awarded at the group level. Any credit carryover available for future use belongs to the taxable member that originally earned the credit. If a member leaves the group, that member takes with them any tax credit/carryforward they generated. Any carryforward must be reduced by the amount that is used by the group and/or member. For specific details, please consult New Jersey Division of Taxation Technical Bulletin TB-90 .
Read Also: Sales Tax Exempt Form Ny
Wheres My State Tax Refund Alabama
You can expect your Alabama refund in eight to 12 weeks from when it is received. In order to check the status of your tax return, visit My Alabama Taxes and select Wheres My Refund? To maintain security, the site requires you to enter your SSN, the tax year and your expected refund amount.
Another thing to note with Alabama is that even if you filed for direct deposit of your refund, the state may send your refund as a physical check. This is an attempt to prevent fraud by sending a paper check to the correct person instead of sending an electronic payment to the wrong persons account.