§ 15-126 — Change of residency status

New York § 15-126

• Jurisdiction: New York
• Law YTS: Yonkers income tax surcharge
• Art. 10: Earnings Tax On Nonresidents

Text

§ 15-126. Change of residency status.\n A. General. If an individual changes his/her status during his/her\ntaxable year from resident to nonresident, or from nonresident to\nresident, he/she shall file a return as a nonresident for the portion of\nthe year during which he/she is a nonresident if he/she is subject to\nthe tax imposed by this article or, if not subject to such tax, an\ninformation return for the portion of the year during which he/she is a\nnonresident, subject to such exceptions as the State Tax Commission may\nprescribe by regulation. Such information return shall be due at the\nsame time as the return required by Article IX of this chapter for the\nportion of the year during which such individual is a resident.\n B. City of Yonkers taxable wages and net earnings from self-employment\nfor portion of year individual is a nonresident. The City of Yonkers\ntaxable wages and net earnings from self-employment for the portion of\nthe year during which the taxpayer is a nonresident shall be determined,\nexcept as provided in Subsection C, under this article as if his/her\ntaxable year for federal income tax purposes were limited to the period\nof his/her nonresident status.\n C. Special accruals.\n (1) If an individual changes his/her status from resident to\nnonresident, he/she shall, regardless of his/her method of accounting,\naccrue for the portion of the taxable year prior to such change of\nstatus any items of income, gain, loss or deduction accruing prior to\nthe change of status, if not otherwise properly includable (whether or\nnot because of an election to report on an installment basis) or\nallowable for City of Yonkers earnings tax purposes for such portion of\nthe taxable year or a prior taxable year. The amounts of such accrued\nitems shall be determined as such accrued items were includable or\nallowable for federal self-employment tax purposes.\n (2) If an individual changes his/her status from nonresident to\nresident, he/she shall, regardless of his method of accounting, accrue\nfor the portion of the taxable year prior to such change of status any\nitems of income, gain, loss or deduction accruing prior to the change of\nstatus, if not otherwise properly includable (whether or not because of\nsuch an election to report on an installment basis) or allowable for\nfederal self-employment tax purposes for such portion of the taxable\nyear or a prior taxable year. The amounts of such accrued items shall be\ndetermined as if such accrued items were includable or allowable for\nfederal self-employment tax purposes.\n (3) No item of income, gain, loss or deduction which is accrued under\nthis subsection shall be taken into account in determining city-adjusted\nwages earned or net earnings from self-employment within the City of\nYonkers for any subsequent taxable period.\n (4) Where an individual changes his/her status from resident to\nnonresident, the accruals under this subsection shall not be required if\nthe individual files with the State Tax Commission a bond or other\nsecurity acceptable to the Commission, conditioned upon the inclusion of\namounts accruable under this subsection in the determination of the City\nof Yonkers income tax surcharge under this Article X hereof for one (1)\nor more subsequent taxable years as if the individual had not changed\nhis/her resident status. In such event, the tax under this article shall\nnot apply to such amounts.\n D. Prorations. Where an individual changes his/her status during\nhis/her taxable year from resident to nonresident or from nonresident to\nresident, the exclusion allowable under § 15-116B shall be prorated,\nunder regulations of the State Tax Commission, to reflect the portions\nof the entire taxable year during which the individual was a resident\nand a nonresident.\n