NYC-3L General Corporation Tax Return

1. Combined GeneralCorporationTaxReturn forfiscalyearsbeginningin2008orforcalendar year 2008
Instructions forFormNYC-3A
GENERAL INFORMATION
SeeInstructionsforForm NYC-3Lfor
HighlightsofRecent Tax Law
Change sforCorporationsandother
additionalinstructions.
Thisyear’sformhasbeenmodifiedto
makeiteasierfortaxpayerstorequest
theconsentoftheDepart mentofFi-
nance touseanalternative businessal-
locationmethod. Taxpayers simply
check theboxlocated onPage1ofthe
form,complete Schedule J,paythetax
basedonthatSchedule, andattacha
rider,asfurther explained onPage4of
theinstructions .
TheenactmentoftheGramm-Leach-
BlileyActof1999affectedthetypesof
activitiesthatbankscanconductand,
consequently,affectedthequalification
ofcertaincorporationsasbankingcor-
porationssubjecttotheNewYorkCity
BankingCorporationTax.Seethein-
structionsforFormNYC-3Lforanex-
planationofvarioustransitionrules
affectingtheBank Taxtreatmentof
banks,bankholdingcompanies,finan-
cialholdingcompanies andothercor-
porations.
Combin edFilingunder
Transitio nalProvisions
Abankholdingcompanydoingbusiness
intheCitythat,duringataxable yearbe-
ginningafter1999andbefore 2010,reg-
istersforthefirsttimeasabankholding
companyundertheBankHolding Com-
panyActof1956,asamended, andelects
tobeafinancial holding company, may
fileacombinedreportundertheBCTfor
suchyearwithoneormorebanking cor-
porationsdoingbusinessintheCityand
65%ormoreownedorcontrolled,di-
rectlyorindirectly,bythatbankholding
company withoutseekingpermissio n
fromtheCommissioner. Inaddition,
suchbankholdingcompany may,with-
outseekingtheCommis sioner's permis-
sion:(i)includeinacombin edreport
filedforasubsequentyearbeginning
after1999andbefore2010anyeligible
bankingcorporation that,forthefirst
timeinsuchsubsequent year,eitheris
doingbusinessintheCityormeetsthe
aboveownershiprequireme nts;and(ii)
eliminatefromacombinedreportfiled
inanysuchsubsequentyearanycorpo-
rationnolonger meeting therequire-
mentsforcombination insuch
subsequentyear. Except asprovided
above,thepermissionoftheCommis -
sionerisrequired foranysuchbank
holdingcompany toceasetofileona
combinedbasis,electtofileonacom-
binedbasisormakeanychangestothe
compositionofthegroupofcorporations
filingonacombinedbasisforanysub-
sequentyear.Admin. Code§11-
646(f)(2)(iv).
REQUIREMENT SFOR FILING
ONACOMBIN EDBASIS
Advancepermission tofileonacom-
binedbasisisnotrequired.Provided
alloftheinformation requiredtobe
submittedontheAffiliation sSchedule
andtheCombined GroupInformation
Scheduleissubmitted, agroupofcor-
porationsmeeting therequire mentsset
forthbelowisdeemedtohavetentative
permissiontofileonacombin edbasis.
However,thecombinedfilingissub-
jecttorevisionordisallowa nceon
audit.Thisreturnwillnotbeconsid-
eredcomplete unless alloftheinfor-
mationrequired issubmitte d.
Acombinedreturn mayberequiredor
permittedwhenallofthefollowingre-
quirementshavebeenmet:
A-Stockownership orcontrol:
1)Areportingcorporationownsor
controls,either directlyorindi-
rectly,substantially allofthe
capitalstockofalltheothercor-
porationsthataretobeincluded
inthecombined return;or
2)Substantially allofthecapital
stockofthereportingcorpora-
tionisowned orcontrolled,ei-
therdirectlyorindirectly,by
othercorporationsthataretobe
includedinthecombinedre-
turn;or
3)Substantiallyallofthecapital
stockofthereportingcorpora-
tionandsubstantiallyallofthe
capitalstockoftheothercorpo-
rationsthataretobeincludedin
thecombinedreturnareowned
orcontrolled,eitherdirectly or
indirectly,bythesameinterests.
“Substantiallyall”isordinarilyconsid-
eredtheactualorbeneficialownership
orcontrolof80%ormoreofthevoting
stockoftheissuingcorporation
throughoutthetaxableyear.
B-Unitarybusiness:
Thecorporationsthataretobeincluded
inthecombinedreturnmustbeengaged
ina“unitarybusiness.”Aunitarybusi-
nessmayexistwhentheactivitiesof
eachcorporationinthegrouparere-
latedtotheactivitiesoftheothercor-
porationsinthegroup,e.g.,
manufacturingoracquiringgoodsor
performingservicesfortheothercor-
porationsinthegroup;sellinggoodsac-
quiredfromcorporationsinthegroup;
orfinancingsalesofothercorporations
inthegroup.Anotherconsiderationis
whetherthecorporationengagesinthe
sameorrelatedlinesofbusinessasthe
othercorporationsinthegroupsuchas:
themanufactureorsaleofsimilarprod-
ucts,theperformanceofsimilarserv-
ices,ortheperformanceofservicesfor
thesamecustomers.
C-FilingonSeparate
BasisCreatesDistortion:
Acombinedreturnmustbefilediffil-
ingonaseparatebasiswoulddistorta
corporation’sactivities,business,in-
comeorcapitalinNewYorkCity.Fil-
ingonaseparatebasisispresumedto
bedistortivewhenthereare“substan-
tialintercorporatetransactions”among
thecorporationsmeetingtherequire-
mentsinSectionAabove.Thesub-
Finance
TM
NEWYORKCITYDEPARTMENT OFFINANC E

2. stantialintercorporatetransact iontest
maybemetwhereaslittleas50percent
ofacorporation’sreceipts orexpenses
arefrom
$manufacturing oracquiring goods
orpropertyorperformingservices
for,
$sellinggoodsacquiredfromorfi-
nancingsalesof,or
$performing related custome rserv-
icesusingcommonfacilitiesand
employeeswith,
corporationsmeetingtherequirements
inSection Aabove.Onlytransactions
directlyconnectedwiththebusiness
conductedbythecorporati onwillbe
considered.Servicefunctions(suchas
accounti ng,legalandpersonalservices)
arenotconsideredwhentheyareinci-
dentaltothebusinessofthecorporation
providingtheservices.
Corporationsnotsubject totaxwillnot
berequiredtobeincludedinacombine d
reportunlesstheDepartmentofFinance
determinesinclusionisnecessary to
properlyreflectthetaxliability inaccor-
dancewith19RCNYSection11-92( a).
Aliencorporations,corporat ionsthat
aretaxableunderTitle11,Chapter6,
Subchapter3orunderTitle11,Chapter
11(except avendorofutilityservices
thatistaxableunderbothChapter11
andSubchapter2ofChapter6),andin-
surancecorporationsmaynotbein-
cludedinacombinedreport.
Effective fortaxableyearsbeginni ngon
orafterJanuary1,1994,acorporation
thatelects theapplicati onofIRCSec-
tion936(PuertoRicoandU.S.posses-
sionstaxcredit)withrespect toa
particularfederaltaxyearisnotre-
quiredorpermittedtobeincludedina
combinedreportwithrespect tothe
sametaxableyear(orpartthereof).
Notaxpayermayfileareportonacom-
binedbasiscoveringanyothercorpora-
tionwhere thetaxpaye rortheother
corporationallocates inaccorda ncewith
thespecialallocation provisions appli-
cabletoaviationcorporationsorcorpo-
rationsprincipallyengagedintheoper-
ationofvesselsandthetaxpayerorother
corporationdoesnotallocat eusingthe
specialallocationprovisions.
D-Reporting Corporation
Ingeneral,theparentcorporation
shouldactasthereporting corporation
forthecombinedgroup.The
reportingcorporation mustbethe
parentcorporati onifitisamemberof
thecombinedgroup.Aparent
corporationisthecorporationthat
ownsorcontrols, directly orindirectly,
substantiallyallofthecapitalstockof
eachothermemberofthecombined
group.Iftheparent corpor ationisnot
partofthecombinedgroup,the
combinedgroup mustthendesignatea
memberasitsreporting corporation.
Iftheparentcorporationisnotpartof
thecombinedgroup,orifsubstantially
allofthecapitalstockofaparentcor-
porationthatisamemberofthecom-
binedgroupisownedorcontrolled,
directlyorindirectly,byapersonorcor-
porationthatisnotpartofthecombined
group,enterthenameofthenon-mem-
berparentorthatpersonorcorporation
anditsEmployerIdentificationNumber
(ifany)intheboxentitled “Nameof
ParentofControlledGroup”onpage1.
Thenameenteredshouldcorrespondto
thepersonorcorporationlistedonline3
or4ofScheduleJofFormNYC-3Lof
othercorporationsincludedinthecom-
binedreport.
OTHERFORMSAND
MINIMUMTAX
Everycorporationincludedinthiscom-
binedreturnisrequiredtofileaseparate
returnonFormNYC-3L.SchedulesB
throughHontheseparatereturns(Form
NYC-3L)mustbecompletedandthe
appropriateinformation transferredto
SchedulesIthroughMonFormNYC-
3Atocomputethecombinedtax.
Payme ntmustincludethecombinedtax
plustheminimumtaxof$300foreach
corporationincludedinthecombinedre-
portwiththeexcepti onofanycorpora-
tionnototherwisesubjecttothetax.The
remittancemustbepayableinU.S.dol-
larsdrawnonaU.S.bank.Checksdrawn
onforeignbankswillberejectedandre-
turned.
EachGeneralCorporationTaxReturn
(NYC- 3L)attachedtothisreturnmust
besignedbyadulyauthorizedofficerof
thecorporationcoveredbythatreturn.
SIGNATURE
Thisreportmustbesignedbyanofficer
authorizedtocertifythatthestatements
containedhereinaretrue.Ifthetax-
payerisapublicly-tradedpartnershipor
anotherunincorporatedentitytaxedasa
corporation,thisreturnmustbesigned
byapersondulyauthorizedtoacton
behalfofthetaxpayer.
BUSINESSANDINVESTMENT
ALLOCATIONS
Corporationsthatallocatemustcomplete
Schedu lesDandHofFormNYC-3L.
PreparerAuthorization:Ifyouwant
toallowtheDepartmentofFinanceto
discussyourreturnwiththepaidpre-
parerwhosignedit,youmustcheckthe
"yes"boxinthesignatureareaofthere-
turn.Thisauthorizationappliesonlyto
theindividualwhosesignatureappears
inthe"Preparer'sUseOnly"sectionof
yourreturn.Itdoesnotapplytothe
firm,ifany,showninthatsection.By
checkingthe"Yes"box,youareau-
thorizingtheDepartmentofFinanceto
callthepreparertoansweranyques-
tionsthatmayariseduringtheprocess-
ingofyourreturn.Also,youare
authorizingthepreparerto:
$GivetheDepartmentanyinforma-
tionmissingfromyourreturn,
$CalltheDepartmentforinform ation
abouttheprocessingofyourreturn
orthestatusofyourrefundorpay-
ment(s),and
$Respondtocertainnoticesthatyou
havesharedwiththepreparer
aboutmatherrors,offsets,andre-
turnpreparation.Thenoticeswill
notbesenttothepreparer.
Instructions forForm NYC-3A-2008 Page 2

3. Youarenotauthorizingthepreparerto
receiveanyrefundcheck,bindyouto
anything(includinganyadditionaltax
liability),orotherwiserepresent yoube-
foretheDepartment .Theauthorization
cannot berevoked;however ,theauthor-
izationwillautomaticallyexpire nolater
thantheduedate(withoutregardtoany
extensions)forfilingnextyear'sreturn.
Failure tocheck theboxwillbe
deemedadenialofauthor ity.
SPECIFIC INSTRU CTIONS
Specialshort-period returns: Ifthisis
NOTafinalreturnandyourFederalre-
turncoveredaperiodoflessthan12
monthsasaresultofyourjoiningor
leavingaFederal consolidate dgroupor
asaresultofaFederalIRC§338elec-
tion,thisreturngenerallywillbedueon
theduedatefortheFederal returnand
notonthedatenotedonthereturnon
page3.Check theboxonthefrontof
thereturn.
Checktheboxmarked"yes" onpage
1ofthisformif,onyourfedera lre-
turn:(i)youreportedbonusdepreci-
ationand/orafirstyearexpense
deductionunderIRC§179for"qual-
ifiedNewYorkLibertyZone prop-
erty,""qualifiedNewYorkLiberty
Zoneleaseholdimprovements ,"or
"qualifiedResurgenceZone prop-
erty,"regardlessofwhetheryouare
requiredtofileformNYC-399Z,(ii)
youclaimedafederal targeted jobs
creditforLibertyZonebusinessem-
ployees, or(iii)youreplaced propert y
involuntarilyconverted asaresultof
theattacksontheWorldTradeCen-
terduringthefive(5)yearextended
replacemen tperiod.Youmustattach
Federalforms4562,4684, 4797and
8884tothisreturn.
IFMORE THANSIXCORPORA -
TIONS ARE INCLUDED INTHE
COMBIN EDRETURN, ATTACH
MULTIPLE COPIES OFPAGE 2OF
THISFORM.DONOT ATTACH
MULT IPLECOPIESOFPAGE 3.
SCHEDULEA
ComputationofTax
LINEA-PAYMENT
Aftercompleting thisform,enterthe
amountofyourpayment. Yourpay-
mentshould bethefullamountas
shownonline23.
LINE2-ALLOCATEDCAPITAL
Thetaxbasedonallocatedcombined
capitalislimitedto$350,000.Multiply
theamountfromScheduleM,line10
bytheapplicablepercentage,butdonot
entermorethan$350,000 intheright-
handcolumnonline2,ScheduleA.
LINE3–ALTERNATIVE TAX
Everytaxpayer, including aprofessional
corporationbutexcludingarealestatein-
vestmenttrustorregulatedinvestment
company,mustcalculateitsalternativetax.
LINE7-MINIMU MTAX
Eachcorporationincluded inthecom-
binedreturn,otherthanthecorporation
payingthecombinedtaxandanycor-
porationincludedinthecombine dre-
turnthatwould notbesubjecttothe
GeneralCorporationTaxiffilingona
separatecompanybasis, isrequiredto
paythe$300minimumtax.
LINE9-UBTPAIDCREDIT
Enteronline9thecredit againstthe
GeneralCorporationtaxforunincorpo-
ratedbusinesstaxpaidbypartnerships
fromwhichanycorporation includedin
thisreturnreceives adistribu tiveshareor
guaranteedpaymentthatisincludedin
calculatingGeneralCorporationTaxlia-
bilityoneithertheentirenetincomeor
incomepluscompensationbase.Attach
Form(s)NYC-9.7(UBTPaidCredit) .
LINE10a
AttachFormNYC-9.5(ClaimforCredit
AppliedtoGeneralCorporationTax).
LINE10b–CREDITSFROM
FORMNYC-9.8
Enteronthislinethecreditagainstthe
GeneralCorporationTaxforthenew
LowerManhattanrelocationandemploy-
mentassistanceprogram.(AttachForm
NYC-9.8.)
LINE11a
AttachFormNYC-9.6(Claim for
CreditAppliedtoGeneralCorporation
Tax).
LINE11B
AttachFormNYC-9.9.(Claimfor
MadeinNYCFilmProductionCredit.)
LINE16-PREPAYMENTS
Enterthesumofallestimatedpayment s
madeforthistaxperiod,thepayment
madewiththeextensionrequest,ifany,
andboththecarryovercreditandthe
firstinstallmentrecordedontheprior
taxperiod’sreturn.
LINE23
Iftheamountonline17isgreaterthan
zeroortheamountonline21isless
thanzero,enteronline23thesumof
line17andtheamount,ifany,bywhich
line20exceedstheamountonline18.
SCHEDULEI
AnalysisofIncomeandCapital
fromFormNYC-3L
IncludeinColumn B,intercorporate
elimina tionsandanyothermodifica-
tions,includingnetoperatinglossde-
duction.Pleaseexplainonrider.
SCHEDULEJ
Businessallocationfrom
FormNYC-3L
Theamountenteredonline12,column
C,shouldberoundedtothenearestone
hundredthofapercentagepoint.
Fortaxableyearsbeginningafter6/30/96,
amanufacturingbusinessmayelectto
useadouble-weightedreceiptsfactor.An
electionmustbemadeonatimely filed
originalreturn.Theelectionisirrevoca-
bleexceptwithspecialpermissio nofthe
Commissionerundercertaincircum-
stances.Forpurposesofthiselection,a
corporationisengagedinamanufactur-
ingbusinessifitisprimarily engagedin
themanufacturingandsaleoftangible
personalproperty.Manufacturingin-
cludesassembly,workingrawmaterials
intowares,andgivingnewshapes,qual-
itiesorcombinationstomatterthathas
Instructions forForm NYC-3A-2008 Page 3

4. alreadygonethroughsome artificial
process,throughtheuseofmachinery,
tools,appliancesorothersimilarequip-
ment.Acorporationisprimar ilyengaged
inmanufact uringifmorethan50%ofits
grossreceiptsfortheyearareattributable
tomanufac turing.Ifacorporatio nthatis
otherwiseeligibletoelecttouseadou-
ble-weight edreceiptsfactorispermitted
orrequiredtofileonacombin edbasis
withoneormorecorporati ons,thecor-
porationmayelecttouseadouble-
weightedreceiptsfactoronlyifthe
requirementsfortheelectionwouldbe
metifallofthecorporations includedin
thecombine dreportweretreatedasasin-
glecorporation.Ifthecorporat ionin-
cludedinacombinedreport properl y
makesanelectiontouseadouble-
weightedreceiptsfactor,eachoftheother
corporationsinthecombinedgroupwill
betreatedashavingmadeaproper elec-
tiontouseadouble-weightedreceipts
factor.Ifeachmember ofacombined re-
portistreatedashavingelectedtousea
double-weightedreceiptsfactor, enteron
line7theamountfromline6.Ifyou
makeanelection,addthepercentages in
columnCanddividethesumby4and
entertheresultonline12.Ifoneormore
oftheotherfactorsismissing,addthere-
mainingpercentage(s)anddividebythe
numberofpercentagessoadded. Ifyou
donotwishtomaketheelection,donot
enteranamountonline7.
ALTER NATIVEALLOCATION
METHOD
Youcannotuseanallocationmethod
forthecombined groupotherthanthe
formulabasissetoutinSchedul eJ
withouttheconsentoftheDepartment
ofFinance.However,ifyoubelieve
thatScheduleJdoesnotfairlyandeq-
uitablyreflectthecombinedgroup’sin-
comefromNewYorkCity,youmay
requesttheDepartment’sconsenttouse
analternativ emethodwhenfilingthis
return.Tomakethatrequest,youmust
checktheappropriateboxonpage1,
completeScheduleJ,andfullyexplain
yourproposedalternativeallocation
methodforthecombinedgroup ina
rider.Thisexplanationmustprovide full
informationregardingthenatureand
scopeofthecombin edgroup’sbusiness
activities,carriedonwithinandwithout
NewYorkCity,andprovide compl ete
detailsofhowthemethod youpropose
wouldallocateincome onamoreequi-
tablebasisthanthestatutorymethod.In
addition,atthetimeoffilingthereturn,
youmustpaythetaxinaccordancewith
theformulabasissetoutinScheduleJ.
IftheDepartment consents toyourpro-
posedalternativeallocationmethodand
itresultsinalowertaxliability thanthe
formulabasissetoutinScheduleJ,you
maybeentitledtoarefund oftheexcess
amountyouhavepaid.
SCHEDULEK-LINE3
EnterinColumn C,page3,theamount
fromline1divided bytheamountfrom
line2,rounded totheneares tonehun-
dredthofapercentage point.
SCHEDULEM
Summary
LINE1
SeeFormNYC-3L,instructionsfor
ScheduleB,line23btocomputein-
vestmentincome forcorporationsin-
cludedinthiscombined report.
LINE8-11
Ifthetaxperiod reported onthisreturn
islessthan12months andallocated
capitalhasbeenseparately proratedon
FormNYC-3Lforthecorporationsin-
cludedinthiscombined report,donot
prorateallocated capital again.See
FormNYC-3L,instruction sforSched-
uleE,lines7through11formorein-
formationandforinformationon
calculating business andinvestment
capitalforthecorporations includedin
thiscombined report.
LINE12-ISSUE RSALLOC ATION
PERCENTAGE
Enteronline12andonScheduleA,line
24,theamount fromline10plusthe
amountfromline11dividedbythe
amountfromSchedule I,line6,Col-
umnC,rounded totheneares tonehun-
dredthofapercen tagepoint.Donot
calculateyourissuer'sallocationper-
centagebyadding thebusiness,invest-
mentandsubsidiarycapitalallocation
percen tagesanddividingthattotalby
thenumberofpercentages.Ifthetax
periodreportedonthisreturnisless
than12monthsandtheamountonline
11hasbeenprorated,incalculatingthe
issuersallocationpercentage,usethe
amountthatwouldhavebeenentered
online11hadtherebeennoproration.
Theissuer'sallocationpercentagecan-
notbelessthanzero.
COMBINEDGROUP
INFORMATIONSCHEDULE
Alloftheinformationrequiredonthis
Schedulemustbesubmitte dforthisre-
turntobeconsideredcomplete.Failure
toprovideanyinformationrequested
willresultincorrespondenceandmay
resultinthefilingonacombinedbasis
bythisgroupofcorporationsbeingre-
visedordisallowed.
AFFILIATIONSSCHEDULE
Listnamesofallaffiliatedcorporations,
includingthosenotincludedinthis
combinedreport,theirfederalEm-
ployerIdentificationNumber,ifany,
andprincipalbusinessactivity.Inad-
dition,listtheentitythatdirectlyowns
thecorporation,theEmployeeIdentifi-
cationNumb erandthenumberof
sharesofvotingcapitalstockowned
andoutstandingatthebeginningofthe
year.Anaffiliatedcorporationforpur-
posesofcompletingthescheduleisa
corporationthatsatisfiesthestockown-
ershiporcontrolrequirementssetforth
inSectionA,“StockOwnershiporCon-
trol,”onpage1oftheseinstructions,
withoutregardtoanylimitationthat
mayotherwiseexcludethecorporation
fromthecombinedreport.
Youmayattachacompletedfederal
Form851foranydomesticcorpora-
tionsthatwouldotherwisebeincluded
ontheAffiliationsSchedule.
NYC-3AINSTR. 2008
Instructions forForm NYC-3A-2008 Page 4