Instructions for Form NYC-2.5A Computation of Receipts Factor - New York City

Form NYC-2.5A Computation of Receipts Factor - New York City

This document contains official instructions for Form NYC-2.5A , Computation of Receipts Factor - a form released and collected by the New York City Department of Finance. An up-to-date fillable Form NYC-2.5A is available for download through this link.

FAQ

Q: What is Form NYC-2.5A?
A: Form NYC-2.5A is a form used to compute the receipts factor for businesses in New York City.

Q: What is the receipts factor?
A: The receipts factor is a percentage used to determine a business's taxable income in New York City.

Q: Who needs to file Form NYC-2.5A?
A: Businesses that have operations in New York City and are subject to the New York City General Corporation Tax or the Business Corporation Tax need to file this form.

Q: What information is required to complete Form NYC-2.5A?
A: Businesses will need to provide details of their gross receipts, receipts from sales of tangible personal property, and receipts from other business activities in New York City.

Q: When is the deadline to file Form NYC-2.5A?
A: The deadline to file Form NYC-2.5A is the same as the deadline for the New York City General Corporation Tax or the Business Corporation Tax, which is generally due on the 15th day of the fourth month following the end of the tax year.

Q: Are there any penalties for late filing or non-filing of Form NYC-2.5A?
A: Yes, there are penalties for late filing or non-filing of Form NYC-2.5A. The penalties vary depending on the amount of tax due and the length of the delay.