Department of Taxation and Finance
New York State Modifications
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To report any New York additions and subtractions to federal adjusted gross income that do not have their own line on your return, complete Form IT-225 and submit it with your return.
For a list of addition and subtraction modifications you may enter on this form for your specific filing, refer to the addition modifications chart and subtraction modifications chart.
Various modifications are entered directly on your return. See the modification charts and the instructions for the return you are filing for additional information.
Submit Form IT-225 with the main form you are filing:
Enter the name and Social Security number (SSN) or employer identification number (EIN) as shown on Form IT-201, IT-203, IT-204 or IT-205. If you are filing a joint personal income tax return, enter both spouses’ names and the SSN of the taxpayer listed first on your Form IT-201 or IT-203.
Mark an X in the appropriate box identifying the return with which you are submitting Form IT-225.
Use the instructions below to determine which parts of this form you should complete. Note: If more than one set of instructions apply, follow all the instructions that apply to you.
This information should be provided by the partnership, S corporation, and estate or trust. For more information, see New York State addition and subtraction modifications.
Note: You may list the same modification code in both Part 1 and Part 2.
Example:
Individual A has an addition modification for interest income received from a U.S. government authority, commission, or instrumentality (A-102) and has the same modification as a partner for income from a partnership.
Enter 102 and the applicable amounts under Schedule A, Part 1 as an individual, and Schedule A, Part 2 as a partner.
If you have more than seven entries in any part, submit a separate Form IT-225 listing the additional addition or subtraction modifications in the appropriate parts.
Enter the New York State addition modifications that apply to you:
Enter all applicable New York State addition modification codes on lines 1a through 1g. For the complete list, see the Addition modifications chart.
To find out where to enter these modifications directly on your return, see the Addition modifications chart.
In column A, enter the total of each New York State addition modification.
In column B, enter the portion that relates to income, gain, loss, or deduction derived from or connected with New York State sources.
To find out where to enter these modifications directly on your return, see the Addition modifications chart.
Enter the New York State addition modifications provided by the entity of which you are a partner, shareholder, or beneficiary.
Be sure to enter the total amount and New York State allocated amount (if applicable) in the appropriate column.
To find out where to enter these modifications directly on your return, see the Addition modifications chart.
If you receive the same addition modification code from more than one partnership, S corporation, or estate or trust, combine the amounts and enter the modification code and the total amount on one line.
Enter the line 9 amount as follows:
Enter the New York State subtraction modifications that apply to you:
Enter all applicable New York State subtraction modification codes on lines 10a through 10g. For the complete list, see the Subtraction modifications chart.
To find out where to enter these modifications directly on your return, see the Subtraction modifications chart.
In column A, enter the total of each New York State subtraction modification.
In column B, enter the portion that relates to income, gain, loss, or deduction derived from or connected with New York State sources.
Enter the New York State subtraction modifications as provided by the entity of which you are a partner, shareholder, or beneficiary.
Be sure to enter the total amount and NYS allocated amount (if applicable) in the appropriate column.
To find out where to enter these modifications directly on your return, see the Subtraction modifications chart.
If you receive the same subtraction modification code from more than one partnership, S corporation, or estate or trust, combine the amounts and enter the modification code and the total amount on one line.
Enter the line 18 amount as follows:
In the modification descriptions below, you will refer to an individual, estate, trust, or partnership, as applicable. For information on which forms the modifications apply to, see the addition and subtraction modifications charts.
Enter in column A, Total amount, the New York State additions or subtractions you must add to or subtract from your federal adjusted gross income. Enter in column B, NYS allocated amount, the portion that relates to income, loss, or deduction derived from or connected with New York State sources. New York additions and subtractions that relate to intangible items of income, such as interest or ordinary dividends, are only required to the extent the property that generates the income is employed in a business, trade, profession, or occupation carried on in New York State.
If you were a part-year resident, include the portion of any of the additions and subtractions that relate to your New York State resident period in the NYS allocated amount column. Also, for the period you were a nonresident, include in the NYS allocated amount column the portion of any of the additions and subtractions to the extent they are related to a business, trade, profession, or occupation carried on in New York State or are from real or tangible personal property located in New York State.
Do not include any amount paid or set aside for charitable purposes in the additions and subtractions for Form IT-205, schedule B, lines 63 and 67 and modifications A-102, S-217, and S-116, S-117, S-121, and S-123.
Note: You must make the modifications for the tax year of the S corporation that ends in your tax year.
If you are a shareholder of a federal S corporation that elected to be a New York S corporation for the tax year, include any of the additions and subtractions that apply to your share of S corporation items of income, gain, loss, or deduction.
Note: Additions A-302, A-303, and A-304, and subtraction S-302 apply only to nonelecting S corporations.
If the election to treat the corporation as a New York S corporation terminated during the tax year, you must make the additions and subtractions only to the extent they are attributable to the period when the election to be a New York S corporation was in effect.
Obtain your share of S corporation items of income, gain, loss, and deduction from the S corporation.
If you are a shareholder of a federal S corporation that was eligible to make the election to be a New York S corporation for the tax year but did not make the election, include additions A-302, A-303, A-304, and subtraction S-302.
If you were not eligible to make the election to treat your corporation as a New York S corporation because the corporation was not subject to Article 9-A, general business corporation franchise tax, include any of the additions and subtractions that apply to your share of S corporation items of income, gain, loss, or deduction.
Additions A-301 through A-304, and subtractions S-301 and S-302 do not apply to you since they apply only to electing and nonelecting New York S corporations.
If a gain or loss is recognized on your federal income tax return due to the disposition of stock or indebtedness of an S corporation that did not elect to be a New York S corporation for any tax year after December 31, 1980, make addition A-304 or subtraction S-301, whichever applies to you.
The charts below are quick reference guides listing each modification. They show (with an X in the column) if the modification applies to your form, and whether or not the modification must be listed on Form IT-225 or directly on a line of your return. These guides should only be used in conjunction with the instructions for each modification noted.
Addition modifications Modification code Description IT-201 IT-203 IT-204 IT-205 A-101 New York City flexible benefits program (IRC 125) X X X A-102 Income from certain obligations of U.S. government agencies or instrumentalities X X X X A-103 New York’s 529 college savings program distributions Line 22 X A-104 414(h) retirement contributions Line 21 Line 21 X A-105 Special additional mortgage recording tax deduction X X X A-106 Special additional mortgage recording tax basis adjustment X X X A-107 Sales or dispositions of assets acquired from decedents X X X A-108 Disposition of solar and wind energy systems X X A-109 New business investment; deferral recognition X X X X A-110 Qualified emerging technology investments X X X X A-111 Interest expense on loans used to buy obligations exempt from New York State tax, amortized bond premium on bondsWrite in the applicable codes and the amount of each addition modification on lines 1a through 1g.
Enter any amounts passed to you by a partnership, S corporation, estate, or trust directly on lines 5a through 5g using the addition modification code provided to you by the entity.
If any federal Form W-2 wage and tax statement shows that an amount was deducted or deferred from your salary under a flexible benefits program established by New York City or certain other New York City public employers on your or a decedent’s behalf, then enter that amount.
Certain other New York City public employers include the following:
If, during the tax year, any interest or dividend income from any U.S. government authority, commission, or instrumentality that federal laws exempt from federal income tax but do not exempt from state income tax was received or credited, then enter that income. If you are uncertain whether a particular federal bond or obligation is subject to state income tax, contact the Tax Department.
If you made a nonqualified withdrawal from an account established under New York’s 529 college savings program, then enter in the Total amount column the amount from line 7 of the worksheet below.
Note: Before you complete the worksheet, you must first compute your S-103 subtraction modification.
Full-year resident individuals: Do not enter this modification on Form IT-225. Enter the addition modification on Form IT-201, line 22, if applicable. See the instructions for Form IT-201, line 22.
Part-year resident individuals only: Enter in the Total amount column the amount from line 7 of the worksheet and include in the New York State allocated amount column any portion of line 7 you made while you were a resident of New York State.
A withdrawal is nonqualified if any of the following apply:
For purposes of the above, higher education generally means public or private, non-profit or proprietary post-secondary educational institutions, in or outside New York State. Therefore, if you used any withdrawal from a New York 529 college savings program to pay tuition in connection with enrollment or attendance at elementary or secondary public, private, or religious schools, that withdrawal is nonqualified.
However, nonqualified withdrawals do not include any withdrawals you made in 2023 as a result of the death or disability of the designated beneficiary, regardless of how the funds are used. If you have participated in a New York 529 college savings program, a rollover of some or all its assets, either contributions or earnings, to a Qualified Adult Based Life Experience (ABLE) program is not considered a nonqualified withdrawal and requires no addition to your federal adjusted gross income in computing New York adjusted gross income.
Note: Transfers between accounts of family members that were not disbursed in cash or in-kind within New York’s program are not considered distributions and are therefore not required to be added back as nonqualified withdrawals.
Include applicable amounts from all existing accounts owned on lines 1 through 7 of the worksheet below. Do not include amounts applicable to accounts that were closed in a prior tax year. If you are filing a joint return, include the applicable amounts from all existing accounts owned by you and your spouse.
Before you begin, complete subtraction modification S-103.
Direction Fill in 1. Total current and prior years’ nonqualified withdrawals from your accounts 1. ____________ 2. Total current and prior years’ contributions to your accounts2. ____________
3. Total current year’s S-103 subtraction modification and prior years’ subtraction modifications* 3. ____________ 4. Subtract line 3 from line 24. ____________
5. Total prior years’ addition modifications* 5. ____________ 6. Add lines 4 and 5 6. ____________ 7. Subtract line 6 from line 1. This is your current year A-103 addition. Enter on Form IT-225, line 1. If line 7 is 0 (zero) or less,7. ____________
*Be sure to include all prior years’ addition and subtraction modifications. Keep this worksheet with your copy of your return.
Enter the addition modification on Form IT-201, line 21, or Form IT-203, line 21, if applicable. Do not include this modification on Form IT-225. See the instructions for the return you are filing.
If any wage and tax statement, federal form W-2, shows an amount deducted from a decedent’s salary as a retirement contribution, then enter that amount.
Note: These are retirement contributions made by any of the following:
Do not enter contributions to an IRC § 401(k) deferred arrangement, IRC § 403(b) annuity, or IRC § 457 deferred compensation plan.
If you deducted special additional mortgage recording tax when you computed your federal income, and you paid the special additional tax before January 1, 1988, and in a prior year, you were allowed a New York State personal income tax credit for that tax, then enter the amount deducted.
Do not make the addition for the tax paid to record a mortgage on or after January 1, 2004, even if you claimed a credit for that tax.
If you sold or disposed of property on which you paid a special additional mortgage recording tax, and you paid a special additional tax before January 1, 1988, and in a prior year, you or the partners claimed a New York State personal income tax credit for that tax, then enter the amount, if any, of the federal basis of the property that was not adjusted to reflect the amount of the credit allowed.
Note: This modification is not required for property acquired from decedents who died on or after February 1, 2000.
Assets of decedents can sometimes have different bases for state and federal tax purposes. This requires adjustments in the gain or loss on the sale or disposition of those assets.
If during the tax year, there was a sale or other disposition of any assets that had been inherited or sold or disposed of directly by the estate of a decedent; and
If in any tax year beginning on or after January 1, 1981, and ending before December 31, 1986, you took a New York State solar and wind energy credit on property; and
then enter the amount of the credit you had previously claimed.
If, in any tax year beginning on or after January 1, 1982, and before 1988, you chose to subtract all or a portion of a long-term capital gain from your federal income because that amount had been reinvested in a new New York business, and if that reinvestment was sold in the current tax year, then enter the amount that had been previously subtracted.
If you elected to defer the gain from the sale of qualified emerging technology investments because you reinvested in a New York qualified emerging technology company, and if you sold that reinvestment during the tax year, then you must enter the amount previously deferred. See S-115.
If you or a decedent were a career pension plan member of the NYC Employees’ Retirement System or the NYC Board of Education Retirement System; and any wage and tax statement, federal Form W-2, received shows an amount that was deducted from salary for health insurance and the welfare benefit fund surcharge, then enter that amount.
Individuals: Do not include this modification on Form IT-225. Instead, enter the addition modification on Form IT-201, line 20, or Form IT-203, line 20, as applicable.
Estates and trusts: Do not include this modification on Form IT-225. Instead, enter the addition modification on Form IT-205, line 63.
Interest income on obligations of other states or political subdivisions of those states that is exempt from federal income tax is subject to New York State tax. This includes interest income on state and local bonds (but not those of New York State and local governments within the state), interest and dividend income from tax-exempt bond mutual funds, and tax-exempt money market funds that invest in obligations of states other than New York.
If you purchased a bond between interest dates, include the amount of interest you received during the year, less the seller’s accrued interest (the amount accrued from the interest date preceding your purchase to the date you purchased the bond). If you sold a bond between interest dates, include the amount of interest you received during the year plus the accrued interest amount (the amount accrued from the interest date preceding the date you sold the bond to the date you sold the bond). You should have received this information when you purchased or sold the bond.
If you filed federal Form 4970, Tax on Accumulation Distribution of Trusts, the income you reported on line 1 of Form 4970 is not included on line 11 of Form IT-201 or IT-203 because the IRC considers the distribution part of federal gross income. You must therefore enter the amount of income you reported on Form 4970, line 1, after subtracting any interest income on state and local bonds and obligations of New York State and its local governments (if you included it on Form 4970, line 5).
If you have or had a change in New York State or New York City resident status, you may have to use special accrual rules to compute your tax. Income accrues to you as a taxpayer when the amount becomes fixed and determinable and you have an unrestricted right to receive it.
An accrued expense is a cost that has been incurred but not yet paid. See the instructions for the return you are filing for more information on special accruals.
If you are subject to the special accrual rules, then enter your accrued item of income, gain, loss, or deduction. Also see S-129.
For tax years beginning on or after January 1, 2014, if you are the beneficiary of a trust that, in any tax year, was not subject to tax because it met the conditions of Tax Law § 605(b)(3)(D) (except for an incomplete gift non-grantor trust), then you must add to your federal adjusted gross income the amount determined under the first sentence of IRC § 677 for the tax year, to the extent that you did not include it in federal adjusted gross income.
In computing the amount to be added, the beneficiary shall disregard
See Tax Law § 612(b)(40) and TSB-M-14(3)I.
If you transferred property to an incomplete gift non-grantor trust, then include the income (after subtracting deductions) of the trust, to the extent you would take that income into account when you compute your federal taxable income if the trust in its entirety were treated as a grantor trust for federal tax purposes.
Do not include any income from a trust that was liquidated before June 1, 2014.
A resident trust is considered an incomplete gift non-grantor trust if:
If you claim the New York itemized deduction for a casualty or theft loss and you computed a net gain on line 15 of the Casualty and theft worksheet for Form IT-196, New York Resident, Nonresident, and Part-Year Resident Itemized Deductions, then you must enter any gain as income, to the extent you did not already include it as income on your federal return (Form 1040 or 1040NR, Schedule D).
These gains are considered income for New York State purposes and you must include them as income on your tax return. For more information regarding casualty and theft loss that results in a net gain, see the instructions for Form IT-196.
If you received any applicable alimony or separate maintenance payments during the tax year, then enter the amount received.
An applicable alimony or separate maintenance payment is a payment made under an alimony or separation instrument (as defined in IRC § 71 as it was in effect immediately prior to the enactment of Public Law 115-97) that was executed after December 31, 2018. This also applies to any divorce or separation instrument executed on or before December 31, 2018, and modified after December 31, 2018, if the modification to the instrument expressly provides that the addition and subtraction modifications contained in Tax Law § 612(w) apply.
You must provide your SSN or individual taxpayer identification number (ITIN) to the spouse or former spouse who paid the alimony or separate maintenance payments.
If an estate or trust was allowed a deduction under IRC § 199A in computing federal taxable income, then enter the amount of that deduction.
The following addition modifications apply only to Form IT-201 or Form IT-203 filers who file federal Schedule C, E, or F, or to Form IT-204 or Form IT-205 filers.All other filers: see New York State subtractions.
You may not deduct personal income taxes or unincorporated business taxes when you compute your New York State income.
If you included a deduction for state, local, or foreign income taxes, including unincorporated business taxes, when computing your federal income, then you must enter the amount of that deduction. For example, if you operated a business and deducted New York City unincorporated business tax on your federal return as an expense of doing business, include this tax amount.
Note: The New York State filing fee paid on Form IT-204-LL, Partnership, Limited Liability Company, and Limited Liability Partnership Filing Fee Payment Form, is not an income tax. Do not include it in this modification.
Estates and trusts: Do not include this modification on Form IT-225. Instead, enter the addition modification, if applicable, on Form IT-205, line 64.
S corporation shareholders: If you are a shareholder of a federal S corporation for which a New York S election was in effect; and that corporation deducted taxes imposed by Article 9-A (general business corporation franchise tax) of the New York State Tax Law, or state or local taxes of this or another state, political subdivision of this or another state, or the District of Columbia, then enter your pro rata share of those taxes.
S corporation shareholders and partners in partnerships: You must add back your pro rata share or distributive share of the following taxes reported to you by the S corporation or partnership:
Do not enter any amounts required to be added back under modifications A-219 or A-220.
If you claimed a deduction on your federal return for percentage depletion, then enter the amount you deducted when you computed your federal income. Also see S-206.
If, when you computed your federal income, you took deductions attributable to a safe harbor lease (except for mass transit vehicles) made under an election provided for by IRC § 168(f)(8) as it was in effect for agreements entered into prior to January 1, 1984, then enter those deductions. Also see A-204, S-208, and S-209.
If your financial matters during the tax year involved a safe harbor lease (except for mass transit vehicles) made under an election provided for by § 168(f)(8) of the IRC as it was in effect for agreements entered into prior to January 1, 1984, then you must enter the income that you would have included in federal income if you had not made the election. Also see A-203, S-208, and S-209.
If you claimed accelerated cost recovery system depreciation on your federal return for:
then enter the amount that you deducted when you computed your federal income. You must submit Form IT-399, New York State Depreciation Schedule, with your return.
Partners, shareholders, and beneficiaries—Do not complete Form IT-399 to determine the amount to enter. Enter the amount provided to you by the entity of which you are a partner, shareholder, or beneficiary.
If you disposed of property that was depreciated for federal purposes using accelerated cost recovery system, and if accelerated cost recovery system depreciation was not allowed for state purposes (see A-205), then you must complete Part 2 of Form IT-399, New York State Depreciation Schedule, to determine the amount to enter. Submit Form IT-399 with your return. Also see S-211.
Partners, shareholders, and beneficiaries—Do not complete Form IT-399 to determine the amount to enter. Enter the amount provided to you by the entity of which you are a partner, shareholder, or beneficiary.
If you claimed the farmers’ school tax credit on your 2022 New York State tax return, and you deducted the school taxes when you computed your federal income on your 2022 federal return, then you must enter the amount of the credit claimed for 2022 on this year’s return.
If you were required to report the amount of the credit as income on your 2023 federal return, do not make this modification.
If you claimed an IRC § 179 deduction on your federal return with respect to a sport utility vehicle that weighs more than 6,000 pounds, and you are not an eligible farmer as defined for purposes of the farmers’ school tax credit (see Form IT-217-I, Instructions for Form IT-217, Claim for Farmers’ School Tax Credit), then enter the amount of that deduction.
Note: If a partner is an eligible farmer for purposes of the farmers’ school tax credit, the partner is not required to make an addition modification for their share of the A-208 modification.
A sport utility vehicle is any four-wheeled passenger vehicle manufactured primarily for use on public streets, roads, and highways. However, it does not include:
A truck is any vehicle that has a primary load-carrying device or container attached, or is equipped with an open cargo area or covered box not readily accessible from the passenger compartment.
With the exception of resurgence zone property and New York liberty zone property described in IRC § 1400L(b)(2), New York State does not follow the federal depreciation rules for IRC § 168(k) property placed in service inside or outside New York State on or after June 1, 2003. If you claimed a depreciation deduction for such property, and if no exception for resurgence zone or New York liberty zone property applies, then complete Part 1 of Form IT-398, New York State Depreciation Schedule for IRC Section 168(k) Property, to determine the amount to enter. Submit Form IT-398 with your return.
Partners, shareholders, and beneficiaries: Do not complete Form IT-398 to determine the amount to enter. Enter the amount provided to you by the entity of which you are a partner, shareholder, or beneficiary.
If you made an election for tax years beginning before 1987 for:
then enter the amount of depreciation or expenditures relating to these items that was deducted in computing federal income on your return.
Submit Form IT-211, Special Depreciation Schedule, with your return. Also see S-207.
Partners, shareholders, and beneficiaries: Do not complete Form IT-211 to determine the amount to enter. Enter the amount provided to you by the entity of which you are a partner, shareholder, or beneficiary.
For tax years beginning on or after January 1, 2003, New York requires certain taxpayers to add back deductions they took on their federal return for certain royalty payments for the use of intangible property, such as trademarks or patents, and interest payments they made to a related member or members. Include the amount for any such payments you deducted in computing your federal income.
Note: There are exceptions to this addition modification. See TSB-M-13(4)I for more information. If you believe you do not have to make this add back as a result of one of the exceptions, attach a statement to your return explaining how you meet each requirement for the exception.
If you:
then enter the amount of the environmental remediation insurance credit allowed.
If you claimed a federal deduction for the metropolitan commuter transportation mobility tax imposed under Article 23 of the Tax Law, then enter the amount deducted.
If you incurred a NOL before January 1, 2018, and if your federal taxable income, computed without the NOL deduction is less than your federal NOL deduction, then complete the NOL worksheet below. Enter the amount from line 6 of the worksheet as your New York State NOL addition modification in the Total amount column.
Form IT-203 filers: Do not enter an amount in the New York State allocated amount column.
1. ____________
2. Enter your federal taxable income computed without the NOL deduction from line 1. If the result is less than zero, enter 02. ____________
3. Enter the lesser of line 1 or line 2. This is the amount of NOL deduction you are allowed when computing your New York3. ____________
If the amount of your NOL deduction allowed for New York State income tax purposes (line 3, above) is less than the NOL amount you used to determine your federal adjusted gross income for the same year (line 1, above), you must compute and report an NOL addition modification. To account for the difference, use the amounts from line 1 and line 3, above, to compute the amount you must report as an NOL addition modification on Form IT-225.
Direction Fill in 4. Enter the amount from Part 1, line 14. ____________
5. Enter the amount from Part 1, line 3 5. ____________ 6. Subtract line 5 from line 4 and enter the result. If the result is less than zero, enter 0.If you claimed any federal deduction for real property taxes and you also claimed the manufacturer’s real property tax credit by filing Form IT-641, Manufacturer’s Real Property Tax Credit, then enter the amount of the federal deduction for real property taxes you used as the basis for the calculation of the manufacturer’s real property tax credit.
If you claimed any federal deduction for excise taxes on telecommunication services and you also claimed the START-UP NY telecommunication services excise tax credit by filing Form IT-640, START-UP NY Telecommunication Services Excise Tax Credit, then enter the amount of the federal deduction for excise taxes on telecommunication services you used as the basis for the calculation of the excise tax on telecommunication services credit.
If an estate or trust claimed a credit on Form IT-649, Farm Donations to Food Pantries Credit, then enter the amount of qualified donations to a food pantry that the estate or trust deducted as a charitable contribution in computing federal taxable income.
If you claimed the pass-through entity tax credit during the current tax year by filing Form IT-653, then enter the amount of the credit claimed on Form IT-653, line 1.
Form IT-203 filers: Compute your NYS allocated amount using the same method described for modifications related to items of income, loss, or deduction. See Form IT-203 filers in the New York State addition and subtraction modifications section above.
If you claimed the New York State resident credit for any pass-through entity tax paid to other jurisdictions by filing one or more Form IT-112-R, then enter the total amount of tax paid to the other states used to compute such credits claimed on Forms IT-112-R.
If you excluded a gain invested in a qualified opportunity fund from federal gross income in the current tax year as a result of IRC § 1400Z-2(a)(1)(A), then enter the amount of the gain you excluded. Also see S-218.
If you claimed the NYC pass-through entity tax credit during the current tax year by filing Form IT-653, then enter the amount of the credit claimed on Form IT-653, line 2.
Form IT-203 filers: Compute your NYS allocated amount using the same method described for modifications related to items of income, loss, or deduction. See Form IT-203 filers in the New York State addition and subtraction modifications section above.
Additions A-301 through A-304 apply to S corporation shareholders only.
If you are a shareholder of an S corporation for which a New York S corporation election was in effect for the tax year, then enter your share of the S corporation’s reductions for taxes imposed on:
If you are a shareholder of an S corporation which is a New York C corporation, then enter any S corporation pass-through items of loss or deduction you took into account when you computed your federal adjusted gross income, pursuant to IRC § 1366.
If you did not include S corporation distributions in your federal adjusted gross income due to the application of IRC §§ 1368, 1371(e), or 1379(c) and these distributions were not previously subject to New York personal income tax because the corporation was a New York C corporation, then enter these distributions.
Federal law requires holders of stock or indebtedness in a federal S corporation to include undistributed taxable income in their federal adjusted gross income and take a corresponding increase in basis. New York law requires a similar increase in basis on disposition of the stock or indebtedness where the federal S corporation is or was a New York C corporation.
If you reported a federal gain or loss because of the disposition of stock or indebtedness of an S corporation and that S corporation was a New York C corporation for any tax year beginning after December 31, 1980 (in the case of a corporation taxable under Article 9-A, general business corporation tax), or December 31, 1996 (in the case of a corporation taxable under Article 32 [banking corporation franchise tax] when it was in effect before its repeal), then enter the increase in the basis of the stock or indebtedness that is due to the application of IRC §§ 1376(a) (as in effect for tax years beginning before January 1, 1983) and 1367(a)(1)(A) and (B) for each tax year that a New York S election was not in effect.
If your share of the fiduciary adjustment is a net addition, then enter this amount and the modification number on Form IT-225, line 5. Also see ES-901.
As a beneficiary, you may have income from an estate or trust. Any New York modifications that apply to that income, as well as any additions to or subtractions from federal itemized deductions, will be shown in your share of a single fiduciary adjustment.
Write in the applicable codes and the amount of each subtraction modification on lines 10a through 10g.
Any amounts passed to you by a partnership, S corporation, estate, or trust should be entered directly on lines 14a through 14g using the subtraction modification code provided to you by the entity.
If you do not enter any subtraction modification code provided to you by the entity, we may disallow the subtraction.
Your employer will report START-UP NY wages to New York State and will include them on your federal Form W-2.
To be eligible for the wage exclusion you must:
If eligible, then you are allowed a subtraction modification (exclusion) on your return as follows:
Enter any interest income attributable to a BAB issued by New York State or its local governments that you included in your federal income.
Form IT-201 filers: Enter the subtraction modification on line 30 of Form IT-201, as applicable. See the instructions for Form IT-201. Do not enter this code on Form IT-225.
Form IT-203 filers: If in 2023 you, as an account owner, made contributions to one or more tuition savings accounts established under New York’s 529 college savings program, then enter that amount, up to $5,000 for an individual, head of household, qualifying surviving spouse, or married taxpayers filing separately, or up to $10,000 for married taxpayers filing a joint return, in the Total amount column only.
Part-year resident individuals only: Also enter in the New York State allocated amount column any such contributions to a New York’s 529 college savings program you made while you were a resident of New York State.
Form IT-201 filers: Do not enter this code on Form IT-225. Instead, enter the subtraction modification on line 30 of Form IT-201, as applicable. See the instructions for Form IT-201.
Form IT-203 filers: If in 2023 you, as an account owner (or beneficiary), made a withdrawal (or received a withdrawal) from an account established under New York’s 529 college savings program, and you included part of the withdrawal in your federal adjusted gross income, then enter that amount in the Total amount column only.
Part-year resident individuals only: Also enter in the New York State allocated amount column any such withdrawals made while a resident of New York State. See A-103.
If you were a resident in a continuing-care retirement community that was issued a certificate of authority by the New York State Department of Health, then enter the portion of the fees you paid during the year that were attributable to the cost of providing long-term care benefits to you under a continuing care contract. However, do not enter more than the premium limitation shown for your age in the Limitation table below. If you and your spouse both qualify, you may each take the subtraction. However, you cannot claim any unused part of your spouse’s subtraction.
Limitation If your age at the end of 2023 was: You cannot claim more than: 40 or younger $480 at least 41 but not older than 50 $890 at least 51 but not older than 60 $1,790 at least 61 but not older than 70 $4,770 71 or older $5,960Enter this subtraction modification on Form IT-201, line 29, or Form IT-203, line 28, as applicable. Do not enter this subtraction modification on Form IT-225.
See the instructions for the return you are filing.
New York State Tax Law allows you to subtract up to $20,000 of your pension and annuity income that was included in federal taxable income.
If an estate or trust received pension and annuity income of a decedent, then the estate or trust may make this subtraction if the decedent would have been entitled to it, had the decedent continued to live, regardless of the age of the beneficiary. If the decedent would have become 59½ during 2023, enter only the amount received after the decedent would have become 59½, but not more than $20,000.
Note: Do not enter any pension received from New York State or its political subdivisions.
For more information, see Publication 36, General Information for Senior Citizens and Retired Persons.
Individuals: Enter this subtraction modification on Form IT-201, line 26, or Form IT-203, line 25, as applicable. See the instructions for the return you are filing.
Do not enter this code on Form IT-225.
Estates and trusts: If a decedent received and included in federal taxable income any pension or distributions from a pension plan that represents a return of contributions in a year prior to retirement, as an officer, employee, or beneficiary of an officer or employee of:
then enter that amount.
For more information, see Publication 36, General Information for Senior Citizens and Retired Persons.
Also include distributions received from a New York State or local pension plan or from a federal government pension plan as a nonemployee spouse in accordance with a court-issued qualified domestic relations order (QDRO) that meets the criteria of IRC § 414(p)(1)(A), or in accordance with a domestic relations order (DRO) issued by a New York court. For additional information, see Publication 36.
You may not subtract (1) pension payments or returns of contributions that were attributable to the decedent’s employment by an employer other than a New York public employer, such as a private university, and any portion attributable to contributions the decedent made to a supplemental annuity plan which was funded through a salary reduction program, or (2) periodic distributions from government (IRC § 457) deferred compensation plans. However, these payments may qualify for the pension and annuity income exclusion; see S-106 Pension and annuity income exclusion.
Enter any amount you included in federal income that was received by any person as:
expectancy.
Enter contributions you made, but did not deduct elsewhere, to:
Do not include amounts you deducted in determining federal income or New York itemized deductions.
Enter amounts included in federal income from an eligible settlement fund or grantor trust as defined under Tax Law § 13 (because you were persecuted or targeted for persecution by the Nazi regime), or distributions received because of your or a decedent’s status as a victim of Nazi persecution, or as a spouse or heir of the victim (successors or assignees, if payment is from an eligible settlement fund or grantor trust).
Enter items of income included in federal income attributable to, derived from, or in any way related to assets stolen from, hidden from, or otherwise lost to a victim of Nazi persecution immediately prior to, during, and immediately after World War II, including but not limited to interest on the proceeds receivable as insurance under policies issued to a victim of Nazi persecution by European insurance companies immediately prior to and during World War II, or as a spouse or heir of such victim.
However, do not include income attributable to assets acquired with assets as described above or with the proceeds from the sale of any asset described above. Also, do not include any income if you were not the first recipient of the asset, or if you are not considered a victim of Nazi persecution, or a spouse or descendent of a victim.
If in a tax year ending after 1969 and beginning before 1988, you were required to add to your federal income deductions made by a plan acquired through membership in a professional service corporation (PSC), then enter the portion of those deductions that can be allocated to pension, annuity, or other income you received from the plan, and were included in your federal income.
Individuals: If you reported a capital gain on your federal income tax return from the sale of a new business investment, as defined in Tax Law § 612(o), that was issued before 1988 and was held at least six years, then include one-hundred percent (100%) of that federal gain.
Estates and trusts: This subtraction may be made only to the extent that it relates to items included in the federal distributable net income of the estate or trust.
In general, you may defer the gain on the sale of qualified emerging technology investments that are:
However, you must:
If you elect to defer the gain from the sale of qualified emerging technology investments, then enter the amount of the deferred gain. This amount may not exceed the amount of the gain included in your federal income.
Purchase of replacement qualified emerging technology investments
A qualified emerging technology investment is an investment in the stock of a corporation, or an ownership interest in a partnership or limited liability company (LLC) that is a qualified emerging technology company, or an investment in a partnership or an LLC to the extent that such partnership or LLC invests in such companies. The taxpayer must acquire the investment as provided in IRC § 1202(c)(1)(B), or from a person who acquired it pursuant to that section. IRC § 1202(c)(1)(B) requires the acquisition to be original issue from the company, either directly or through an underwriter, and in exchange for cash, services, or property (but not in stock).
A qualified emerging technology company is a company that is located in New York State, has total annual product sales of 10 million dollars or less, and meets certain criteria. See Form DTF-620, Application for Certification of a Qualified Emerging Technology Company.
New York State income tax laws prior to 1960 and current laws regarding depletion can result in a difference in the state and federal adjusted bases of certain assets. If you realize a federally taxable gain from the sale of an asset that had a higher adjusted basis for state tax purposes, you may make a modification to reduce your gain for state tax purposes.
If your federal income included gain that was from either:
then enter the lesser of the gain itself or the difference in the adjusted bases.
Individuals: If you divide gain with respect to jointly owned property between you and your spouse, then you must also divide any subtraction for different adjusted bases between you and your spouse.
Estates and trusts: You may make this subtraction only to the extent that it relates to items included in the federal distributable net income of the estate or trust.
Enter any income (including annuity income) or gain included in your federal income that you (or the decedent or estate or trust from whom you acquired the income or gain) properly reported to New York State prior to 1960 (or during a fiscal year ending in 1960).
Estates and trusts: You may make this subtraction only to the extent that it relates to items included in the federal distributable net income of the estate or trust.
Enter military pay you included in federal income that you received for active service as (or on behalf of) a member in the armed services of the United States in an area designated as a combat zone.
Form IT-203 filers: Based on the Servicemembers’ Civil Relief Act, if you received military pay while you were a nonresident, or a part-year resident during the time you were not residing in New York State, that income is not subject to New York State personal income tax.
Nonresidents: Enter the total amount of military pay included in the Federal amount column on line 1 of your Form IT-203.
Part-year residents: Enter the total amount of military pay included in the Federal amount column on line 1 of your Form IT-203 that you received during your nonresident period.
Enter any interest you paid in 2023 on loans made to you under HELP.
Enter any interest or dividend income on bonds or securities of any U.S. authority, commission, or instrumentality that is exempt from state income taxes under federal laws (but included in federal income).
Enter supplemental annuity or Tier 2 benefits received under the Railroad Retirement Act of 1974, or benefits received under the Railroad Unemployment Insurance Act that are exempt from state income taxes under federal laws (but that you included in your federal income).
Enter any interest or dividend income from any obligations or securities authorized to be issued and exempt from state taxation under the laws of New York State (for example, income received from bonds, mortgages, and income debenture certificates of limited dividend housing corporations organized under the Private Housing Finance Law) to the extent it was included in federal income.
Complete Form IT-221, Disability Income Exclusion, to compute your disability income exclusion if you were not yet 65 when your tax year ended, and you retired on disability, and you were permanently and totally disabled when you retired.
Individuals, estates or trusts: Do not enter this code on Form IT-225. Enter the subtraction modification on Form IT-201, line 28, or Form IT-203, line 27, or Form IT-205, line 67, as applicable. See the instructions for the return you are filing.
Partnership: Interest income on bonds or other obligations of the U.S. government is not taxed by New York. Dividends you received from a regulated investment company (mutual fund) that invests in obligations of the U.S. government and meet the 50% asset requirement each quarter qualify for this subtraction. The portion of dividends that may be subtracted is based upon the portion of taxable income received by the mutual fund that is derived from federal obligations [Tax Law § 612(c)(1)]. If the partnership included income from these obligations in its federal ordinary income, then enter that income amount.
Enter income you (or an estate or trust received on behalf of a member) received and included in your federal income while serving in the New York State organized militia for performing active service within New York State due to either:
Do not include any income you received for regular duties in the organized militia (for example, pay received for the annual two-week training program).
Members of the New York State organized militia include the New York Army National Guard, the New York Air National Guard, the New York Naval Militia, and the New York Guard.
Note: You cannot make this subtraction for property acquired from decedents who died on or after February 1, 2000.
If you acquired a decedent’s property and, as valued by the executor, the estate was insufficient to require a federal estate tax return and a loss on the sale would have been realized if a federal estate tax return had been required, then enter the amount of the loss.
Estates and trusts: You may make this subtraction only to the extent that it relates to items included in the federal distributable net income of the estate or trust.
If you are an enrolled member of a tribe or nation recognized by the United States or by New York State, and you are a Native American who works and lives on a reservation, then enter income included in your federal adjusted gross income and earned on that reservation.
If you have or had a change in New York State or New York City resident status you may have to use special accrual rules to compute your tax. Income accrues to you as a taxpayer when the amount becomes fixed and determinable and you have an unrestricted right to receive it. An accrued expense is a cost that has been incurred but not yet paid. See the instructions for the return you are filing for more information on special accruals.
If you are subject to the special accrual rules, then enter your accrued item of income, gain, loss, or deduction. Also see A-115.
If you are at least 59½ years old, then you may deduct up to the amount included in your federal gross income for any award paid from a length of service defined contribution plan or defined benefit plan as provided for in Articles 11-A, 11-AA, 11-AAA, and 11-AAAA of the General Municipal Law, provided that the award is not distributed as a lump sum amount as defined in IRC § 402(e)(4)(A) and taxed under New York State Tax Law § 603.
If during the tax year you were a living donor who donated one or more of your organs to another person for human organ transplantation, then enter unreimbursed expenses incurred for travel, lodging, and lost wages, up to a maximum of $10,000. You may claim this subtraction only once during your lifetime.
Married taxpayers: If you both qualify, you and your spouse can each claim a subtraction up to $10,000. However, you cannot claim any unused part of your spouse’s subtraction.
Note: This subtraction modification is not applicable to any donation for which the taxpayer has received benefits, on or after April 1, 2023, from the living donor support program (NYS public health law § 4371).
S-134: Deduction for student loans discharged due to death or disability
If in 2023, you as a student, or as a parent borrower, had a student loan discharged, in whole or in part, and:
and that discharge was included in federal taxable income, then enter the amount of the student loan that was discharged.
Note: For purposes of this modification, the term student loan means:
For federal income tax purposes, the moving expense deduction rules changed for tax years 2018 through 2025.
If during the tax year you received any qualified moving expense reimbursements or paid any moving expenses, then enter those amounts.
For New York income tax purposes, you can claim qualified moving expense reimbursement amounts (as defined under IRC § 132(g) as it existed prior to the Federal Tax Cuts and Jobs Act) you received (directly or indirectly) from an employer as payment for, or a reimbursement of, moving expenses (defined below) that you paid directly. You cannot claim any payment for, or reimbursement of, a moving expense actually deducted by you in a prior year.
Moving expenses means expenses that are reasonable for the circumstances of your move. For example, the cost of traveling from your former home to your new one should be the shortest, most direct route available by conventional transportation. If, during your trip to your new home, you stop over, or make side trips for sightseeing, the additional expenses for your stopover or side trips are not deductible as moving expenses. You can deduct the following items as reasonable expenses:
Who can deduct moving expenses: If you move to a new home because of a new principal workplace, you may be able to deduct your moving expenses. You must meet both the distance and time tests that follow. Also, your move must be closely related both in time and place to the start of work at your new job location. For more information, see 2017 IRS Publication 521, Moving Expenses.
Distance test: Your new principal workplace must be at least 50 miles farther from your old home than your old workplace was. For example, if your old workplace was 3 miles from your old home, your new workplace must be at least 53 miles from that home. If you did not have an old workplace, your new workplace must be at least 50 miles from your old home. The distance between the two points is the shortest of the more commonly traveled routes between them.
Time test: If you are an employee, you must work full-time in the general area of your new workplace for at least 39 weeks during the 12 months right after you move. If you are self-employed, you must work full time in the general area of your new workplace for at least 39 weeks during the first 12 months and a total of at least 78 weeks during the 24 months right after you move.
Exception to the time test: You do not have to meet the time test if any of the following apply:
Members of the Armed Forces: If you are in the Armed Forces, you do not have to meet the distance and time tests if the move is due to a permanent change of station. A permanent change of station includes a move in connection with and within one year of retirement or other termination of active duty.
If you made any applicable alimony or separate maintenance payments during the tax year, then enter the amount paid. See addition modification A-119 for the definition of applicable alimony or separate maintenance payment.
Form IT-203 filers: You must use the following formula to compute the amount to report in the NYS allocated amount column for alimony or separate maintenance payments paid:
Form IT-203, line 17 NYS amount column
Form IT-203, line 17 Federal amount column
The amount reported in the NYS allocated amount column cannot exceed the amount reported in the Total amount column.
*If this amount is a negative number, enter zero in the New York State allocated amount column.
You must attach a statement to your return that includes the Social Security number (SSN) or individual taxpayer identification number (ITIN) of any spouse or former spouse receiving the alimony or separate maintenance payments.
If you were an eligible volunteer firefighter who received insurance payments related to the cancer disability benefits described in General Municipal Law § 205-cc, then enter the amount of such insurance payments includable in federal gross income.
If an estate or trust claimed a deduction for taxes under IRC § 164 that was limited to $10,000 as provided in IRC § 164(b)(6)(B), or that was denied under IRC § 164(b)(6)(A), then enter the amount of state and local taxes that the estate or trust was not able to deduct for federal income tax purposes because of such limitation or denial, other than state and local sales taxes and income taxes as described in Tax Law § 615(c)(1).
Note: In determining the makeup of the $10,000 of deduction claimed by the estate or trust under IRC § 164, it shall be presumed that the $10,000 first comprises the state and local income taxes (or sales taxes, if applicable) the estate or trust accrued or paid during the tax year.
If an estate or trust had miscellaneous itemized deductions, as described in and limited by IRC § 67 [excluding the deductions described in § 67(e)], that the estate or trust was not able to deduct for federal income tax purposes due solely to IRC § 67(g), then enter the amount disallowed under IRC § 67(g).
If you received a lump sum death benefit, pursuant to the COVID-19 family death benefit program established by the Metropolitan Transportation Authority in 2020, that was included in your federal adjusted gross income, then enter the amount of the lump sum death benefit. This amount cannot exceed $500,000.
Note: This subtraction modification only applies to lump sum death benefits paid under the COVID-19 family death benefit program and does not apply to any benefit payable under that program other than a lump sum death benefit.
If you reported an item of income in your New York adjusted gross income for a prior tax year (or years) because it appeared that you had an unrestricted right to such item, but repaid it during the tax year because it was later established that you did not have an unrestricted right to the item (or to a portion of the item), then enter the amount of the item that you repaid.
Note: For purposes of this modification, no subtraction will be allowed if:
If you received a student loan forgiveness award from New York State, including any awards made under Article 14 of New York State Education Law, then include the amount of the award to the extent it was included in federal adjusted gross income.
If you received a health care and mental hygiene worker bonus payment under social services law § 367-w or under section 4 of part ZZ of Chapter 56 of the Laws of 2022, then include the amount of the bonus payment to the extent it was included in federal gross income.
The following subtraction modifications apply to only Form IT-201 or Form IT-203 filers who file federal Schedule C, E, or F, or to Form IT-204 or Form IT-205 filers.Other filers: see the instructions for line 18.
If you meet the definition of a small business (see below) or are a member, partner, or shareholder of an LLC, partnership, or New York S corporation that meets the definition of a small business (see below), then you may deduct an amount equal to 15% of the net items of income, gain, loss, and deduction attributable to that business that are included in your federal adjusted gross income. Do not enter an amount less than zero.
For purposes of this subtraction modification, a small business means:
In addition, in order to qualify for this subtraction modification, a taxpayer who is a member, partner, or shareholder of an LLC, partnership, or New York S corporation, that is a non-farm small business, must have income attributable to the net business income from its ownership interests that is less than $250,000.
Note: For purposes of this modification, New York gross business income, for an LLC or a partnership, means New York source gross income as defined in Tax Law § 658(c)(3)(B). For a New York S corporation, New York gross business income means the New York receipts included in the numerator of the apportionment factor determined under Tax Law § 210-A.
Individuals: If you included interest income from bonds or other obligations that is federally tax exempt but taxable to New York State (as a New York addition), and the expense you incurred in buying the obligation is attributable to a trade or business you carried on, then enter that expense.
Estates and trusts: If the estate or trust included interest income from bonds or other obligations that is federally tax exempt but taxable to New York State (as a New York addition), and if the estate or trust reduced their federal taxable income by deducting interest expense on money borrowed to purchase or carry those obligations, then enter that expense.
Individuals: You may deduct expenses you incur to acquire or maintain income that is attributable to a trade or business. If you included income from bonds or other obligations that are federally tax exempt but taxable to New York State (as a New York addition) and the expense you incurred to either produce or collect that income or manage, conserve, or protect the assets that produce that income was not deducted for federal purposes and those expenses are attributable to a trade or business you carried on, then enter that expense.
Estates and trusts: If the estate or trust is including income that is federally tax exempt but taxable to New York State (as a New York addition), and if in determining its federal taxable income, the estate or trust deducted expenses used to either produce or collect that income or manage, conserve, or protect the assets that produce that income, then enter that expense.
Individuals: You may deduct expenses incurred when buying an obligation that generates investment income that is attributable to a trade or business.
Estates and trusts: If investment income from an obligation is taxable, then expenses incurred to buy that obligation are deductible when determining New York taxable income.
If you took a federal credit for which a deduction for wages and salary expenses is not allowed under IRC § 280C, then enter the wage payments not deductible for federal purposes.
If you are making addition A-202 for any percentage depletion, then enter the cost depletion that IRC § 611 would allow on that property without any reference to either IRC § 613 or 613-A.
Estates and trusts: You may make this subtraction only to the extent that it relates to items included in the federal distributable net income of the estate or trust.
You may carry over excess expenditures incurred in tax years beginning before 1987 in connection with depreciable, tangible business property located in New York State to the following tax year or years and deduct such expenditures in computing your New York income for that year or years, if the expenditures exceed your New York income for that year before the allowance of those expenditures. Complete Form IT-211, Special Depreciation Schedule, to compute the amount to enter. Submit Form IT-211 with your return.
Partners, shareholders, and beneficiaries: Do not complete Form IT-211 to determine the amount to enter. Enter the amount provided to you by the entity of which you are a partner, shareholder, or beneficiary.
Enter any amount you included in federal income (except for mass transit vehicles) solely because you made the safe harbor election on your federal return for agreements entered into before January 1, 1984.
Enter any amount that you could have excluded from federal income (except for mass transit vehicles) had you not made the safe harbor election on your federal return for agreements entered into before January 1, 1984.
If you claimed accelerated cost recovery system depreciation on your federal return for:
then enter the amount of your New York depreciation. Complete and submit Form IT-399, New York State Depreciation Schedule, with your return.
Partners, shareholders, and beneficiaries—Do not complete Form IT-399 to determine the amount to enter. Enter the amount provided to you by the entity of which you are a partner, shareholder, or beneficiary.
If you disposed of property in 2023 that was depreciated for federal purposes using accelerated cost recovery system and your total federal accelerated cost recovery system deduction exceeds your New York depreciation deduction for that property, then complete Part 2 of Form IT-399, New York State Depreciation Schedule, to compute the amount to enter. See A-206. Submit Form IT-399 with your return.
Partners, shareholders, and beneficiaries—Do not complete Form IT-399 to determine the amount to enter. Enter the amount provided to you by the entity of which you are a partner, shareholder, or beneficiary.
If you previously claimed an IRC § 179 deduction with respect to a sport utility vehicle that weighs more than 6,000 pounds; and
then enter the recapture amount. (See A-208 for the definition of a sport utility vehicle.)
With the exception of resurgence zone property and New York liberty zone property described in IRC § 1400L(b)(2), New York State does not follow the federal depreciation rules for IRC § 168(k) property placed in service inside or outside New York State on or after June 1, 2003.
If you claimed a depreciation deduction for such property; and no exception for resurgence zone or New York liberty zone property applies, then complete Part 1 of Form IT-398, New York State Depreciation Schedule for IRC Section 168(k) Property, to compute the amount of New York depreciation to enter. Submit Form IT-398 with your return.
Partners, shareholders, and beneficiaries—Do not complete Form IT-398 to determine the amount to enter. Enter the amount provided to you by the entity of which you are a partner, shareholder, or beneficiary
If you disposed of IRC § 168(k) property placed in service inside or outside New York State on or after June 1, 2003 [except for resurgence zone property, and New York liberty zone property described in IRC § 1400L(b)(2)], and your total federal depreciation deduction was more than the New York depreciation deduction for that property, then complete Part 2 of Form IT-398, New York State Depreciation Schedule for IRC § 168(k) Property, to compute the amount of the disposition adjustment to enter. Submit Form IT-398 with your return.
Partners, shareholders, and beneficiaries—Do not complete Form IT-398 to determine the amount to enter. Enter the amount provided to you by the entity of which you are a partner, shareholder, or beneficiary.
Enter the amount of any refund of certain New York State business tax credits included in your federal adjusted gross income (for example, the Qualified Empire Zone Enterprise credit for real property taxes). See our website for a complete list of the credits this subtraction modification applies to. For additional information, see TSB-M-10(9)C, (15)I, New York State Tax Treatment of Refunds of the Qualified Empire Zone Enterprise (QEZE) Credit for Real Property Taxes.
Complete Form IT-223, Innovation Hot Spot Deduction, and enter any income or gain included in federal income that is attributable to the operations of a qualified entity at its location in, or as part of, a New York State innovation hot spot. Submit Form IT-223 with your return.
Individuals: If as a partner, S corporation shareholder, or a federal Schedule C or F filer you included in your federal income an amount of taxable refund that was not included on line 4 of Form IT-201 or IT-203, then use this subtraction modification code.
If you included in your federal income any refunds, credits, or offsets for overpayment of any income tax (including the New York City unincorporated business tax and any taxes imposed under Tax Law Article 23 [metropolitan commuter transportation mobility tax]), then include that amount.
If you included a gain invested in a qualified opportunity fund in federal gross income for the current tax year, then enter the amount of such gain that was added back in a previous tax year per A-221. Also see A-221.
If you received any grants, pursuant to the COVID-19 pandemic small business recovery program established in the New York State Urban Development Corporation Act, § 16-ff, then enter the amount of the grants, to the extent you included them in your federal adjusted gross income.
Include the amount of any federal deduction disallowed under IRC § 280E related to the production and distribution of adult-use cannabis products (as defined under Tax Law Article 20-C), provided that the amount:
Subtractions S-301, S-302, and S-303 apply to S corporation shareholders only.
If you reported a federal gain or loss because of the disposition of stock or indebtedness of an S corporation and that S corporation was a New York C corporation for any tax year beginning after December 31, 1980 (for corporations taxable under Article 9-A, general business corporation tax), or December 31, 1996 (for corporations taxable under former Article 32, banking corporation franchise tax), then enter the reduction in basis of the stock or indebtedness that is due to the application of IRC § 1376(b) (as in effect for tax years beginning before January 1, 1983) and 1367(a)(2)(B) and (C) for each tax year that the New York election was not in effect.
If, with respect to stock described above, you made any New York additions to federal adjusted gross income required under A-303, then enter the total of those additions. See Tax Law § 612(b)(20).
If you included in your federal adjusted gross income any S corporation pass-through income pursuant to IRC § 1366 and the corporation is a New York C corporation, then enter the pass-through income.
If you as an S corporation shareholder received a share of a franchise tax refund from your S corporation, then enter that amount. For more information, see Form CT-225-I, Instructions for Form CT-225, New York State Modifications.
If your share of the fiduciary adjustment is a net subtraction, then enter this amount and the modification number on Form IT-225, line 14. Also see EA-901.
As a beneficiary you may have income from an estate or trust. Any New York modifications that apply to that income, as well as any additions to or subtractions from federal itemized deductions, will be shown in your share of a single fiduciary adjustment.
Updated: December 20, 2023
At first glance, you look at the sidewall of your tire and think, “’Do I need a super secret decoder ring to read this?” In addition to the model name of the tire there is a series of numbers that at first, you don’t deem important. However, these numbers are extremely helpful, especially when it’s time to replace your tires. Here’s a quick breakdown to help you decipher one of the best kept secrets in the automotive world.
TIRE SIZE
Example: P225/60/R16 94V
P identifies your tire as a Passenger Tire. The P stands for PMetric. If your tire size starts with LT rather than a P then it identifies the tire as a Light Truck tire.
225 identifies the tire section width, which is the measurement of the tire from sidewall to sidewall in millimeters. This measurement varies depending on the rim to which it is fitted.
(There are 25.4 millimeters per 1 inch.)
60 is the two-figure aspect ratio. This percentage compares the tire's section height with the tire's section width. For example, this aspect ratio of 60 means that the tire's section height is 60% of the tire's section width.
R indicates the construction used within the tires casing. R stands for radial construction. B means belted bias and D stands for diagonal bias construction.
16 The last dimension listed in the size is the diameter of the wheel rim, which is most often measured in inches.
If a tire size reads, LT235/75R15 104/101S, the LT indicates that this tire is meant for Light Truck use. These tires are made for light-duty and heavy-duty pickup trucks (typically ½ ton, ¾ ton, or 1-ton load capacity), SUVs and vans. These tires fall into one of three categories:
Numeric– designed to carry heavy cargo loads and/or tow trailers.
Wide Base – designed to carry heavy cargo loads and/or tow trailers on a wheel rim with a diameter of 16.5 inches.
Flotation – wider, oversized tires designed to carry heavy cargo loads and/or tow trailers on loose surfaces such as sand, gravel, or dirt.
Tires beginning with a ST (for example ST175/80R13) indicate a Special Trailer tire and should only be used on car, boat or utility trailers.
LOAD INDEX AND SPEED RATING
Example: P225/60/R16 94V
The load index and speed rating, or service description, are the numbers that follow the tire size. In the example above, the first two digits (94) represent the tire’s load index and the single letter (V) identifies the tire’s speed rating. But what does that mean?
94 - The load index tells you how much weight the tire can support when properly inflated. Load indexes typically range from 70 - 126, with each numeric value corresponding to a certain carrying capacity. The higher toe tire’s load index number, the greater its load carrying capacity. The carrying capacity for each value can be found on a load index chart. On each U.S. passenger car tire, the load limit is listed in pounds. European tires have the load limit listed in kilograms and sometimes pounds.
When it comes to Light Truck (LT) or Special Trailer (ST) tires, there are two load indexes branded (example - LT235/75R15 104/101S). In this example, the 104 corresponds to 1,984 pounds (see chart below), and the 101 corresponds to 1,819 pounds. So which number do you use? The answer is, it depends on the how the tire is being used…and it can change.
LT tires are commonly used on trucks with dual rear wheels and are branded with two load indexes. The first number indicates load carrying capacity if the tire is installed on a truck with a single-wheel rear axle, and the second number applies when the tire is used in a dual rear application.
V - Speed ratings are represented by letters ranging from A to Z. Each letter coincides to the maximum speed a tire can sustain under its recommended load capacity. For instance, V is equivalent to a maximum speed of 149 mph. Even though a tire can perform at this speed General Tire does not advocate exceeding legal speed limits. It is also important to note that speed ratings only apply to tires that have not been under-inflated, overloaded, damaged, or altered.
Rating Maximum Speed Use
L 75 MPH Off-Road & Light Truck tires
M 81 MPH Temporary Spare tires
N 87 MPH
P 93 MPH
Q 99 MPH Winter tires (w/or w/out studs)
R 106 MPH H.D. Light Truck tires
S 112 MPH Family Sedans & Vans
T 118 MPH Family Sedans & Vans
U 124 MPH
H 130 MPH Sport Sedans & Coupes
V 149 MPH Sports Cars, Sport Sedans & Coupes
Z Over 149 MPH Sports Cars