§ 34 — Change of residence status during the year

New York § 34

• Jurisdiction: New York
• Law GCT: General City
• Part 3: Returns, Declarations and Payment of Tax
• Art. 2-D: City Personal Income Tax On Residents

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§ 34. Change of residence status during the year.-- (a) General.-- If\nan individual changes his status during his taxable year from resident\nto nonresident, or from nonresident to resident, he shall file one\nreturn as a resident for the portion of the year during which he is a\nresident, and an information return for the portion of the year during\nwhich he is a nonresident, subject to such exceptions as the\nadministrator may prescribe by regulation. Such information return shall\nbe due at the same time as the return for the portion of the year during\nwhich such individual is a resident.\n (b) City taxable income for portion of year individual is a\nresident.--The city taxable income for the portion of the year during\nwhich he is a resident shall be determined, except as provided in\nsubdivision (c), under part II of this local law as if his taxable year\nfor federal income tax purposes were limited to the period of his\nresident status.\n (c) Special accruals.--(1) If an individual changes his status from\nresident to nonresident, he shall, regardless of his method of\naccounting, accrue for the portion of the taxable year prior to such\nchange of status any items of income, gain, loss or deduction accruing\nprior to the change of status, if not otherwise properly includible\n(whether or not because of an election to report on an installment\nbasis) or allowable for city income tax purposes for such portion of the\ntaxable year or for a prior taxable year. The amounts of such accrued\nitems shall be determined with the applicable modifications described in\nsections twelve and fifteen as if such accrued items were includible or\nallowable for federal income tax purposes.\n (2) If an individual changes his status from nonresident to resident,\nhe shall, regardless of his method of accounting, accrue for the portion\nof the taxable year prior to such change of status any items of income,\ngain, loss or deduction accruing prior to the change of status, if not\notherwise properly includible (whether or not because of an election to\nreport on an installment basis) or allowable for federal income tax\npurposes for such portion of the taxable year or for a prior taxable\nyear. The amounts of such accrued items shall be determined with the\napplicable modifications described in sections twelve and fifteen as if\nsuch accrued items were includible or allowable for federal income tax\npurposes.\n (3) No item of income, gain, loss or deduction which is accrued under\nthis subdivision shall be taken into account in determining city\nadjusted gross income or the city itemized deduction for any subsequent\ntaxable period.\n (4) Where an individual changes his status from resident to\nnonresident, the accruals under this subdivision shall not be required\nif the individual files with the administrator a bond or other security\nacceptable to the administrator, conditioned upon the inclusion of\namounts accruable under this subdivision in city adjusted gross income\nfor one or more subsequent taxable years as if the individual had not\nchanged his resident status.\n (d) Prorations.--Where an individual changes his status during his\ntaxable year from resident to nonresident or from nonresident to\nresident, the city personal exemptions allowable under section sixteen\nshall be prorated, under regulations of the administrator, to reflect\nthe portions of the entire taxable year during which the individual was\na resident and a nonresident\n (e) Standard deduction.--Where an individual changes his status during\nhis taxable year from resident to nonresident or from nonresident to\nresident, the city standard deduction allowable shall be either ten per\ncentum of city adjusted gross income reported for the period during\nwhich he is a resident, or one thousand dollars prorated according to\nthe period covered by the return, whichever is less.\n