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New York State Unemployment Tax Forms

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New York State Unemployment Tax Forms

New york state unemployment tax forms Publication 1212 - Main Content Table of Contents Definitions Debt Instruments on the OID List Debt Instruments Not on the OID List Information for Brokers and Other MiddlemenShort-Term Obligations Redeemed at Maturity Long-Term Debt Instruments Certificates of Deposit Bearer Bonds and Coupons Backup Withholding Information for Owners of OID Debt InstrumentsExceptions. New york state unemployment tax forms Adjustment for premium. New york state unemployment tax forms Adjustment for acquisition premium. New york state unemployment tax forms Adjustment for market discount. New york state unemployment tax forms Form 1099-OID How To Report OID Figuring OID on Long-Term Debt Instruments Figuring OID on Stripped Bonds and Coupons How To Get Tax HelpLow Income Taxpayer Clinics Definitions The following terms are used throughout this publication. New york state unemployment tax forms “Original issue discount” is defined first. New york state unemployment tax forms The other terms are listed alphabetically. New york state unemployment tax forms Original issue discount (OID). New york state unemployment tax forms   OID is a form of interest. New york state unemployment tax forms It is the excess of a debt instrument's stated redemption price at maturity over its issue price (acquisition price for a stripped bond or coupon). New york state unemployment tax forms Zero coupon bonds and debt instruments that pay no stated interest until maturity are examples of debt instruments that have OID. New york state unemployment tax forms Accrual period. New york state unemployment tax forms   An accrual period is an interval of time used to measure OID. New york state unemployment tax forms The length of an accrual period can be 6 months, a year, or some other period, depending on when the debt instrument was issued. New york state unemployment tax forms Acquisition premium. New york state unemployment tax forms   Acquisition premium is the excess of a debt instrument's adjusted basis immediately after purchase, including purchase at original issue, over the debt instrument's adjusted issue price at that time. New york state unemployment tax forms A debt instrument does not have acquisition premium, however, if the debt instrument was purchased at a premium. New york state unemployment tax forms See Premium, later. New york state unemployment tax forms Adjusted issue price. New york state unemployment tax forms   The adjusted issue price of a debt instrument at the beginning of an accrual period is used to figure the OID allocable to that period. New york state unemployment tax forms In general, the adjusted issue price at the beginning of the debt instrument's first accrual period is its issue price. New york state unemployment tax forms The adjusted issue price at the beginning of any subsequent accrual period is the sum of the issue price and all the OID includible in income before that accrual period minus any payment previously made on the debt instrument, other than a payment of qualified stated interest. New york state unemployment tax forms Debt instrument. New york state unemployment tax forms   The term “debt instrument” means any instrument or contractual arrangement that constitutes indebtedness under general principles of federal income tax law (including, for example, a bond, debenture, note, certificate, or other evidence of indebtedness). New york state unemployment tax forms It generally does not include an annuity contract. New york state unemployment tax forms Issue price. New york state unemployment tax forms   For debt instruments listed in Section I-A and Section I-B, the issue price generally is the initial offering price to the public (excluding bond houses and brokers) at which a substantial amount of these instruments was sold. New york state unemployment tax forms Market discount. New york state unemployment tax forms   Market discount arises when a debt instrument purchased in the secondary market has decreased in value since its issue date, generally because of an increase in interest rates. New york state unemployment tax forms An OID debt instrument has market discount if your adjusted basis in the debt instrument immediately after you acquired it (usually its purchase price) was less than the debt instrument's issue price plus the total OID that accrued before you acquired it. New york state unemployment tax forms The market discount is the difference between the issue price plus accrued OID and your adjusted basis. New york state unemployment tax forms Premium. New york state unemployment tax forms   A debt instrument is purchased at a premium if its adjusted basis immediately after purchase is greater than the total of all amounts payable on the debt instrument after the purchase date, other than qualified stated interest. New york state unemployment tax forms The premium is the excess of the adjusted basis over the payable amounts. New york state unemployment tax forms See Publication 550 for information on the tax treatment of bond premium. New york state unemployment tax forms Qualified stated interest. New york state unemployment tax forms   In general, qualified stated interest is stated interest that is unconditionally payable in cash or property (other than debt instruments of the issuer) at least annually over the term of the debt instrument at a single fixed rate. New york state unemployment tax forms Stated redemption price at maturity. New york state unemployment tax forms   A debt instrument's stated redemption price at maturity is the sum of all amounts (principal and interest) payable on the debt instrument other than qualified stated interest. New york state unemployment tax forms Yield to maturity (YTM). New york state unemployment tax forms   In general, the YTM is the discount rate that, when used in figuring the present value of all principal and interest payments, produces an amount equal to the issue price of the debt instrument. New york state unemployment tax forms The YTM is generally shown on the face of the debt instrument or in the literature you receive from your broker. New york state unemployment tax forms If you do not have this information, consult your broker, tax advisor, or the issuer. New york state unemployment tax forms Debt Instruments on the OID List The OID list on the IRS website can be used by brokers and other middlemen to prepare information returns. New york state unemployment tax forms If you own a listed debt instrument, you generally should not rely on the information in the OID list to determine (or compare) the OID to be reported on your tax return. New york state unemployment tax forms The OID amounts listed are figured without reference to the price or date at which you acquired the debt instrument. New york state unemployment tax forms For information about determining the OID to be reported on your tax return, see the instructions for figuring OID under Information for Owners of OID Debt Instruments, later. New york state unemployment tax forms The following discussions explain what information is contained in each section of the list. New york state unemployment tax forms Section I. New york state unemployment tax forms   This section contains publicly offered, long-term debt instruments. New york state unemployment tax forms Section I-A: Corporate Debt Instruments Issued Before 1985. New york state unemployment tax forms Section I-B: Corporate Debt Instruments Issued After 1984. New york state unemployment tax forms Section I-C: Inflation-Indexed Debt Instruments. New york state unemployment tax forms For each publicly offered debt instrument in Section I, the list contains the following information. New york state unemployment tax forms The name of the issuer. New york state unemployment tax forms The Committee on Uniform Security Identification Procedures (CUSIP) number. New york state unemployment tax forms The issue date. New york state unemployment tax forms The maturity date. New york state unemployment tax forms The issue price expressed as a percent of principal or of stated redemption price at maturity. New york state unemployment tax forms The annual stated or coupon interest rate. New york state unemployment tax forms (This rate is shown as 0. New york state unemployment tax forms 00 if no annual interest payments are provided. New york state unemployment tax forms ) The yield to maturity will be added to Section I-B for bonds issued after December 31, 2006. New york state unemployment tax forms The total OID accrued up to January 1 of a calendar year. New york state unemployment tax forms (This information is not available for every instrument. New york state unemployment tax forms ) For long-term debt instruments issued after July 1, 1982, the daily OID for the accrual periods falling in a calendar year and a subsequent year. New york state unemployment tax forms The total OID per $1,000 of principal or maturity value for a calendar year and a subsequent year. New york state unemployment tax forms Section II. New york state unemployment tax forms   This section contains stripped coupons and principal components of U. New york state unemployment tax forms S. New york state unemployment tax forms Treasury and Government-Sponsored Enterprise debt instruments. New york state unemployment tax forms These stripped components are available through the Department of the Treasury's Separate Trading of Registered Interest and Principal of Securities (STRIPS) program and government-sponsored enterprises such as the Resolution Funding Corporation. New york state unemployment tax forms This section also includes debt instruments backed by U. New york state unemployment tax forms S. New york state unemployment tax forms Treasury securities that represent ownership interests in those securities. New york state unemployment tax forms   The obligations listed in Section II are arranged by maturity date. New york state unemployment tax forms The amounts listed are the total OID for a calendar year per $1,000 of redemption price. New york state unemployment tax forms Section III. New york state unemployment tax forms   This section contains short-term discount obligations. New york state unemployment tax forms Section III-A: Short-Term U. New york state unemployment tax forms S. New york state unemployment tax forms Treasury Bills. New york state unemployment tax forms Section III-B: Federal Home Loan Banks. New york state unemployment tax forms Section III-C: Federal National Mortgage Association. New york state unemployment tax forms Section III-D: Federal Farm Credit Banks. New york state unemployment tax forms Section III-E: Federal Home Loan Mortgage Corporation. New york state unemployment tax forms Section III-F: Federal Agricultural Mortgage Corporation. New york state unemployment tax forms    Information that supplements Section III-A is available on the Internet at http://www. New york state unemployment tax forms treasurydirect. New york state unemployment tax forms gov/tdhome. New york state unemployment tax forms htm. New york state unemployment tax forms   The short-term obligations listed in this section are arranged by maturity date. New york state unemployment tax forms For each obligation, the list contains the CUSIP number, maturity date, issue date, issue price (expressed as a percent of principal), and discount to be reported as interest for a calendar year per $1,000 of redemption price. New york state unemployment tax forms Brokers and other middlemen should rely on the issue price information in Section III only if they are unable to determine the price actually paid by the owner. New york state unemployment tax forms Debt Instruments Not on the OID List The list of debt instruments discussed earlier does not contain the following items. New york state unemployment tax forms U. New york state unemployment tax forms S. New york state unemployment tax forms savings bonds. New york state unemployment tax forms Certificates of deposit and other face-amount certificates issued at a discount, including syndicated certificates of deposit. New york state unemployment tax forms Obligations issued by tax-exempt organizations. New york state unemployment tax forms OID debt instruments that matured or were entirely called by the issuer before the tables were posted on the IRS website. New york state unemployment tax forms Mortgage-backed securities and mortgage participation certificates. New york state unemployment tax forms Long-term OID debt instruments issued before May 28, 1969. New york state unemployment tax forms Short-term obligations, other than the obligations listed in Section III. New york state unemployment tax forms Debt instruments issued at a discount by states or their political subdivisions. New york state unemployment tax forms REMIC regular interests and CDOs. New york state unemployment tax forms Commercial paper and banker's acceptances issued at a discount. New york state unemployment tax forms Obligations issued at a discount by individuals. New york state unemployment tax forms Foreign obligations not traded in the United States and obligations not issued in the United States. New york state unemployment tax forms Information for Brokers and Other Middlemen The following discussions contain specific instructions for brokers and middlemen who hold or redeem a debt instrument for the owner. New york state unemployment tax forms In general, you must file a Form 1099 for the debt instrument if the interest or OID to be included in the owner's income for a calendar year totals $10 or more. New york state unemployment tax forms You also must file a Form 1099 if you were required to deduct and withhold tax, even if the interest or OID is less than $10. New york state unemployment tax forms See Backup Withholding, later. New york state unemployment tax forms If you must file a Form 1099, furnish a copy to the owner of the debt instrument by January 31 in the year it is due. New york state unemployment tax forms File all your Forms 1099 with the IRS, accompanied by Form 1096, by February 28 in the year it is due (March 31 if you file electronically). New york state unemployment tax forms Electronic payee statements. New york state unemployment tax forms   You can issue Form 1099-OID electronically with the consent of the recipient. New york state unemployment tax forms More information. New york state unemployment tax forms   For more information, including penalties for failure to file (or furnish) required information returns or statements, see the General Instructions for Certain Information Returns (Forms 1098, 1099, 3921, 3922, 5498, and W-2G) for the appropriate calendar year. New york state unemployment tax forms Short-Term Obligations Redeemed at Maturity If you redeem a short-term discount obligation for the owner at maturity, you must report the discount as interest on Form 1099-INT. New york state unemployment tax forms To figure the discount, use the purchase price shown on the owner's copy of the purchase confirmation receipt or similar record, or the price shown in your transaction records. New york state unemployment tax forms If you sell the obligation for the owner before maturity, you must file Form 1099-B to reflect the gross proceeds to the seller. New york state unemployment tax forms Do not report the accrued discount to the date of sale on either Form 1099-INT or Form 1099-OID. New york state unemployment tax forms If the owner's purchase price cannot be determined, figure the discount as if the owner had purchased the obligation at its original issue price. New york state unemployment tax forms A special rule is used to determine the original issue price for information reporting on U. New york state unemployment tax forms S. New york state unemployment tax forms Treasury bills (T-bills) listed in Section III-A. New york state unemployment tax forms Under this rule, you treat as the original issue price of the T-bill the noncompetitive (weighted average of accepted auction bids) discount price for the longest-maturity T-bill maturing on the same date as the T-bill being redeemed. New york state unemployment tax forms This noncompetitive discount price is the issue price (expressed as a percent of principal) shown in Section III-A. New york state unemployment tax forms A similar rule is used to figure the discount on short-term discount obligations issued by the organizations listed in Section III-B through Section III-F. New york state unemployment tax forms Example 1. New york state unemployment tax forms There are 13-week and 26-week T-bills maturing on the same date as the T-bill being redeemed. New york state unemployment tax forms The price actually paid by the owner cannot be established by owner or middleman records. New york state unemployment tax forms You treat as the issue price of the T-bill the noncompetitive discount price (expressed as a percent of principal) shown in Section III-A for a 26-week bill maturing on the same date as the T-bill redeemed. New york state unemployment tax forms The interest you report on Form 1099-INT is the OID (per $1,000 of principal) shown in Section III-A for that obligation. New york state unemployment tax forms Long-Term Debt Instruments If you hold a long-term OID debt instrument as a nominee for the true owner, you generally must file Form 1099-OID. New york state unemployment tax forms For this purpose, you can rely on Section I of the OID list to determine the following information. New york state unemployment tax forms Whether a debt instrument has OID. New york state unemployment tax forms The OID to be reported on the Form 1099-OID. New york state unemployment tax forms In general, you must report OID on publicly offered, long-term debt instruments listed in Section I. New york state unemployment tax forms You also can report OID on other long-term debt instruments. New york state unemployment tax forms Form 1099-OID. New york state unemployment tax forms   On Form 1099-OID for a calendar year show the following information. New york state unemployment tax forms Box 1. New york state unemployment tax forms The OID for the actual dates the owner held the debt instruments during a calendar year. New york state unemployment tax forms To determine this amount, see Figuring OID, next. New york state unemployment tax forms Box 2. New york state unemployment tax forms The qualified stated interest paid or credited during the calendar year. New york state unemployment tax forms Interest reported here is not reported on Form 1099-INT. New york state unemployment tax forms The qualified stated interest on Treasury inflation-protected securities may be reported on Form 1099-INT in box 3 instead. New york state unemployment tax forms Box 3. New york state unemployment tax forms Any interest or principal forfeited because of an early withdrawal that the owner can deduct from gross income. New york state unemployment tax forms Do not reduce the amounts in boxes 1 and 2 by the forfeiture. New york state unemployment tax forms Box 4. New york state unemployment tax forms Any backup withholding for this debt instrument. New york state unemployment tax forms Box 7. New york state unemployment tax forms The CUSIP number, if any. New york state unemployment tax forms If there is no CUSIP number, give a description of the debt instrument, including the abbreviation for the stock exchange, the abbreviation used by the stock exchange for the issuer, the coupon rate, and the year of maturity (for example, NYSE XYZ 12. New york state unemployment tax forms 50 2006). New york state unemployment tax forms If the issuer of the debt instrument is other than the payer, show the name of the issuer in this box. New york state unemployment tax forms Box 8. New york state unemployment tax forms The OID on a U. New york state unemployment tax forms S. New york state unemployment tax forms Treasury obligation for the part of the year the owner held the debt instrument. New york state unemployment tax forms Box 9. New york state unemployment tax forms Investment expenses passed on to holders of a single-class REMIC. New york state unemployment tax forms Boxes 10-12. New york state unemployment tax forms Use to report any state income tax withheld for this debt instrument. New york state unemployment tax forms Figuring OID. New york state unemployment tax forms   You can determine the OID on a long-term debt instrument by using either of the following. New york state unemployment tax forms Section I of the OID list. New york state unemployment tax forms The income tax regulations. New york state unemployment tax forms Using Section I. New york state unemployment tax forms   If the owner held the debt instrument for the entire calendar year, report the OID shown in Section I for the calendar year. New york state unemployment tax forms Because OID is listed for each $1,000 of stated redemption price at maturity, you must adjust the listed amount to reflect the debt instrument's actual stated redemption price at maturity. New york state unemployment tax forms For example, if the debt instrument's stated redemption price at maturity is $500, report one-half the listed OID. New york state unemployment tax forms   If the owner held the debt instrument for less than the entire calendar year, figure the OID to report as follows. New york state unemployment tax forms Look up the daily OID for the first accrual period in the calendar year during which the owner held the debt instrument. New york state unemployment tax forms Multiply the daily OID by the number of days the owner held the debt instrument during that accrual period. New york state unemployment tax forms Repeat steps (1) and (2) for any remaining accrual periods for the year during which the owner held the debt instrument. New york state unemployment tax forms Add the results in steps (2) and (3) to determine the owner's OID per $1,000 of stated redemption price at maturity. New york state unemployment tax forms If necessary, adjust the OID in (4) to reflect the debt instrument's stated redemption price at maturity. New york state unemployment tax forms Report the result on Form 1099-OID in box 1. New york state unemployment tax forms Using the income tax regulations. New york state unemployment tax forms   Instead of using Section I to figure OID, you can use the regulations under sections 1272 through 1275 of the Internal Revenue Code. New york state unemployment tax forms For example, under the regulations, you can use monthly accrual periods in figuring OID for a debt instrument issued after April 3, 1994, that provides for monthly payments. New york state unemployment tax forms (If you use Section I-B, the OID is figured using 6-month accrual periods. New york state unemployment tax forms )   For a general explanation of the rules for figuring OID under the regulations, see Figuring OID on Long-Term Debt Instruments under Information for Owners of OID Debt Instruments, later. New york state unemployment tax forms Certificates of Deposit If you hold a bank certificate of deposit (CD) as a nominee, you must determine whether the CD has OID and any OID includible in the income of the owner. New york state unemployment tax forms You must file an information return showing the reportable interest and OID, if any, on the CD. New york state unemployment tax forms These rules apply whether or not you sold the CD to the owner. New york state unemployment tax forms Report OID on a CD in the same way as OID on other debt instruments. New york state unemployment tax forms See Short-Term Obligations Redeemed at Maturity and Long-Term Debt Instruments, earlier. New york state unemployment tax forms Bearer Bonds and Coupons If a coupon from a bearer bond is presented to you for collection before the bond matures, you generally must report the interest on Form 1099-INT. New york state unemployment tax forms However, do not report the interest if either of the following apply. New york state unemployment tax forms You hold the bond as a nominee for the true owner. New york state unemployment tax forms The payee is a foreign person. New york state unemployment tax forms See Payments to foreign person under Backup Withholding, later. New york state unemployment tax forms Because you cannot assume the presenter of the coupon also owns the bond, you should not report OID on the bond on Form 1099-OID. New york state unemployment tax forms The coupon may have been “stripped” (separated) from the bond and separately purchased. New york state unemployment tax forms However, if a long-term bearer bond on the OID list is presented to you for redemption upon call or maturity, you should prepare a Form 1099-OID showing the OID for that calendar year, as well as any coupon interest payments collected at the time of redemption. New york state unemployment tax forms Backup Withholding If you report OID on Form 1099-OID or interest on Form 1099-INT for a calendar year, you may be required to apply backup withholding to the reportable payment at a rate of 28%. New york state unemployment tax forms The backup withholding is deducted at the time a cash payment is made. New york state unemployment tax forms See Pub. New york state unemployment tax forms 1281, Backup Withholding for Missing and Incorrect Name/TIN(s), for more information. New york state unemployment tax forms Backup withholding generally applies in the following situations. New york state unemployment tax forms The payee does not give you a taxpayer identification number (TIN). New york state unemployment tax forms The IRS notifies you that the payee gave an incorrect TIN. New york state unemployment tax forms The IRS notifies you that the payee is subject to backup withholding due to payee underreporting. New york state unemployment tax forms For debt instruments acquired after 1983: The payee does not certify, under penalties of perjury, that he or she is not subject to backup withholding under (3), or The payee does not certify, under penalties of perjury, that the TIN given is correct. New york state unemployment tax forms However, for short-term discount obligations (other than government obligations), bearer bonds and coupons, and U. New york state unemployment tax forms S. New york state unemployment tax forms savings bonds, backup withholding applies only if the payee does not give you a TIN or gives you an obviously incorrect number for a TIN. New york state unemployment tax forms Short-term obligations. New york state unemployment tax forms   Backup withholding applies to OID on a short-term obligation only when the OID is paid at maturity. New york state unemployment tax forms However, backup withholding applies to any interest payable before maturity when the interest is paid or credited. New york state unemployment tax forms   If the owner of a short-term obligation at maturity is not the original owner and can establish the purchase price of the obligation, the amount subject to backup withholding must be determined by treating the purchase price as the issue price. New york state unemployment tax forms However, you can choose to disregard that price if it would require significant manual intervention in the computer or recordkeeping system used for the obligation. New york state unemployment tax forms If the purchase price of a listed obligation is not established or is disregarded, you must use the issue price shown in Section III. New york state unemployment tax forms Long-term obligations. New york state unemployment tax forms   If no cash payments are made on a long-term obligation before maturity, backup withholding applies only at maturity. New york state unemployment tax forms The amount subject to backup withholding is the OID includible in the owner's gross income for the calendar year when the obligation matures. New york state unemployment tax forms The amount to be withheld is limited to the cash paid. New york state unemployment tax forms Registered long-term obligations with cash payments. New york state unemployment tax forms   If a registered long-term obligation has cash payments before maturity, backup withholding applies when a cash payment is made. New york state unemployment tax forms The amount subject to backup withholding is the total of the qualified stated interest (defined earlier under Definitions) and OID includible in the owner's gross income for the calendar year when the payment is made. New york state unemployment tax forms If more than one cash payment is made during the year, the OID subject to withholding for the year must be allocated among the expected cash payments in the ratio that each bears to the total of the expected cash payments. New york state unemployment tax forms For any payment, the required withholding is limited to the cash paid. New york state unemployment tax forms Payee not the original owner. New york state unemployment tax forms   If the payee is not the original owner of the obligation, the OID subject to backup withholding is the OID includible in the gross income of all owners during the calendar year (without regard to any amount paid by the new owner at the time of transfer). New york state unemployment tax forms The amount subject to backup withholding at maturity of a listed obligation must be determined using the issue price shown in Section I. New york state unemployment tax forms Bearer long-term obligations with cash payments. New york state unemployment tax forms   If a bearer long-term obligation has cash payments before maturity, backup withholding applies when the cash payments are made. New york state unemployment tax forms For payments before maturity, the amount subject to withholding is the qualified stated interest (defined earlier under Definitions) includible in the owner's gross income for the calendar year. New york state unemployment tax forms For a payment at maturity, the amount subject to withholding is only the total of any qualified stated interest paid at maturity and the OID includible in the owner's gross income for the calendar year when the obligation matures. New york state unemployment tax forms The required withholding at maturity is limited to the cash paid. New york state unemployment tax forms Sales and redemptions. New york state unemployment tax forms   If you report the gross proceeds from a sale, exchange, or redemption of a debt instrument on Form 1099-B for a calendar year, you may be required to withhold 28% of the amount reported. New york state unemployment tax forms Backup withholding applies in the following situations. New york state unemployment tax forms The payee does not give you a TIN. New york state unemployment tax forms The IRS notifies you that the payee gave an incorrect TIN. New york state unemployment tax forms For debt instruments held in an account opened after 1983, the payee does not certify, under penalties of perjury, that the TIN given is correct. New york state unemployment tax forms Payments outside the United States to U. New york state unemployment tax forms S. New york state unemployment tax forms person. New york state unemployment tax forms   The requirements for backup withholding and information reporting apply to payments of OID and interest made outside the United States to a U. New york state unemployment tax forms S. New york state unemployment tax forms person, a controlled foreign corporation, or a foreign person at least 50% of whose income for the preceding 3-year period is effectively connected with the conduct of a U. New york state unemployment tax forms S. New york state unemployment tax forms trade or business. New york state unemployment tax forms Payments to foreign person. New york state unemployment tax forms   The following discussions explain the rules for backup withholding and information reporting on payments to foreign persons. New york state unemployment tax forms U. New york state unemployment tax forms S. New york state unemployment tax forms -source amount. New york state unemployment tax forms   Backup withholding and information reporting are not required for payments of U. New york state unemployment tax forms S. New york state unemployment tax forms -source OID, interest, or proceeds from a sale or redemption of an OID instrument if the payee has given you proof (generally the appropriate Form W-8 or an acceptable substitute) that the payee is a foreign person. New york state unemployment tax forms A U. New york state unemployment tax forms S. New york state unemployment tax forms resident is not a foreign person. New york state unemployment tax forms For proof of the payee's foreign status, you can rely on the appropriate Form W-8 or on documentary evidence for payments made outside the United States to an offshore account or, in case of broker proceeds, a sale effected outside the United States. New york state unemployment tax forms Receipt of the appropriate Form W-8 does not relieve you from information reporting and backup withholding if you actually know the payee is a U. New york state unemployment tax forms S. New york state unemployment tax forms person. New york state unemployment tax forms   For information about the 28% withholding tax that may apply to payments of U. New york state unemployment tax forms S. New york state unemployment tax forms -source OID or interest to foreign persons, see Publication 515. New york state unemployment tax forms Foreign-source amount. New york state unemployment tax forms   Backup withholding and information reporting are not required for payments of foreign-source OID and interest made outside the United States. New york state unemployment tax forms However, if the payments are made inside the United States, the requirements for backup withholding and information reporting will apply unless the payee has given you the appropriate Form W-8 or acceptable substitute as proof that the payee is a foreign person. New york state unemployment tax forms More information. New york state unemployment tax forms   For more information about backup withholding and information reporting on foreign-source amounts or payments to foreign persons, see Regulations section 1. New york state unemployment tax forms 6049-5. New york state unemployment tax forms Information for Owners of OID Debt Instruments This section is for persons who prepare their own tax returns. New york state unemployment tax forms It discusses the income tax rules for figuring and reporting OID on long-term debt instruments. New york state unemployment tax forms It also includes a similar discussion for stripped bonds and coupons, such as zero coupon bonds available through the Department of the Treasury's STRIPS program and government-sponsored enterprises such as the Resolution Funding Corporation. New york state unemployment tax forms However, the information provided does not cover every situation. New york state unemployment tax forms More information can be found in the regulations under sections 1271 through 1275 of the Internal Revenue Code. New york state unemployment tax forms Including OID in income. New york state unemployment tax forms   Generally, you include OID in income as it accrues each year, whether or not you receive any payments from the debt instrument issuer. New york state unemployment tax forms Exceptions. New york state unemployment tax forms   The rules for including OID in income as it accrues generally do not apply to the following debt instruments. New york state unemployment tax forms U. New york state unemployment tax forms S. New york state unemployment tax forms savings bonds. New york state unemployment tax forms Tax-exempt obligations. New york state unemployment tax forms (However, see Tax-Exempt Bonds and Coupons, later. New york state unemployment tax forms ) Obligations issued by individuals before March 2, 1984. New york state unemployment tax forms Loans of $10,000 or less between individuals who are not in the business of lending money. New york state unemployment tax forms (The dollar limit includes outstanding prior loans by the lender to the borrower. New york state unemployment tax forms ) This exception does not apply if a principal purpose of the loan is to avoid any federal tax. New york state unemployment tax forms   See chapter 1 of Publication 550 for information about the rules for these and other types of discounted debt instruments, such as short-term and market discount obligations. New york state unemployment tax forms Publication 550 also discusses rules for holders of REMIC interests and CDOs. New york state unemployment tax forms De minimis rule. New york state unemployment tax forms   You can treat OID as zero if the total OID on a debt instrument is less than one-fourth of 1% (. New york state unemployment tax forms 0025) of the stated redemption price at maturity multiplied by the number of full years from the date of original issue to maturity. New york state unemployment tax forms Debt instruments with de minimis OID are not listed in this publication. New york state unemployment tax forms There are special rules to determine the de minimis amount in the case of debt instruments that provide for more than one payment of principal. New york state unemployment tax forms Also, the de minimis rules generally do not apply to tax-exempt obligations. New york state unemployment tax forms Example 2. New york state unemployment tax forms You bought at issuance a 10-year debt instrument with a stated redemption price at maturity of $1,000, issued at $980 with OID of $20. New york state unemployment tax forms One-fourth of 1% of $1,000 (the stated redemption price) times 10 (the number of full years from the date of original issue to maturity) equals $25. New york state unemployment tax forms Under the de minimis rule, you can treat the OID as zero because the $20 discount is less than $25. New york state unemployment tax forms Example 3. New york state unemployment tax forms Assume the same facts as Example 2, except the debt instrument was issued at $950. New york state unemployment tax forms You must report part of the $50 OID each year because it is more than $25. New york state unemployment tax forms Choice to report all interest as OID. New york state unemployment tax forms   Generally, you can choose to treat all interest on a debt instrument acquired after April 3, 1994, as OID and include it in gross income by using the constant yield method. New york state unemployment tax forms See Constant yield method under Debt Instruments Issued After 1984, later, for more information. New york state unemployment tax forms   For this choice, interest includes stated interest, acquisition discount, OID, de minimis OID, market discount, de minimis market discount, and unstated interest, as adjusted by any amortizable bond premium or acquisition premium. New york state unemployment tax forms For more information, see Regulations section 1. New york state unemployment tax forms 1272-3. New york state unemployment tax forms Purchase after date of original issue. New york state unemployment tax forms   A debt instrument you purchased after the date of original issue may have premium, acquisition premium, or market discount. New york state unemployment tax forms If so, the OID reported to you on Form 1099-OID may have to be adjusted. New york state unemployment tax forms For more information, see Showing an OID adjustment under How To Report OID, later. New york state unemployment tax forms The following rules generally do not apply to contingent payment debt instruments. New york state unemployment tax forms Adjustment for premium. New york state unemployment tax forms   If your debt instrument (other than an inflation-indexed debt instrument) has premium, do not report any OID as ordinary income. New york state unemployment tax forms Your adjustment is the total OID shown on your Form 1099-OID. New york state unemployment tax forms Adjustment for acquisition premium. New york state unemployment tax forms   If your debt instrument has acquisition premium, reduce the OID you report. New york state unemployment tax forms Your adjustment is the difference between the OID shown on your Form 1099-OID and the reduced OID amount figured using the rules explained later under Figuring OID on Long-Term Debt Instruments. New york state unemployment tax forms Adjustment for market discount. New york state unemployment tax forms   If your debt instrument has market discount that you choose to include in income currently, increase the OID you report. New york state unemployment tax forms Your adjustment is the accrued market discount for the year. New york state unemployment tax forms See Market Discount Bonds in chapter 1 of Publication 550 for information on how to figure accrued market discount and include it in your income currently and for other information about market discount bonds. New york state unemployment tax forms If you choose to use the constant yield method to figure accrued market discount, also see Figuring OID on Long-Term Debt Instruments, later. New york state unemployment tax forms The constant yield method of figuring accrued OID, explained in those discussions under Constant yield method, is also used to figure accrued market discount. New york state unemployment tax forms For more information concerning premium or market discount on an inflation-indexed debt instrument, see Regulations section 1. New york state unemployment tax forms 1275-7. New york state unemployment tax forms Sale, exchange, or redemption. New york state unemployment tax forms   Generally, you treat your gain or loss from the sale, exchange, or redemption of a discounted debt instrument as a capital gain or loss if you held the debt instrument as a capital asset. New york state unemployment tax forms If you sold the debt instrument through a broker, you should receive Form 1099-B or an equivalent statement from the broker. New york state unemployment tax forms Use the Form 1099-B or other statement and your brokerage statements to complete Form 8949, and Schedule D (Form 1040). New york state unemployment tax forms   Your gain or loss is the difference between the amount you realized on the sale, exchange, or redemption and your basis in the debt instrument. New york state unemployment tax forms Your basis, generally, is your cost increased by the OID you have included in income each year you held it. New york state unemployment tax forms In general, to determine your gain or loss on a tax-exempt bond, figure your basis in the bond by adding to your cost the OID you would have included in income if the bond had been taxable. New york state unemployment tax forms   See chapter 4 of Publication 550 for more information about the tax treatment of the sale or redemption of discounted debt instruments. New york state unemployment tax forms Example 4. New york state unemployment tax forms Larry, a calendar year taxpayer, bought a corporate debt instrument at original issue for $86,235. New york state unemployment tax forms 00 on November 1 of Year 1. New york state unemployment tax forms The 15-year debt instrument matures on October 31 of Year 16 at a stated redemption price of $100,000. New york state unemployment tax forms The debt instrument provides for semiannual payments of interest at 10%. New york state unemployment tax forms Assume the debt instrument is a capital asset in Larry's hands. New york state unemployment tax forms The debt instrument has $13,765. New york state unemployment tax forms 00 of OID ($100,000 stated redemption price at maturity minus $86,235. New york state unemployment tax forms 00 issue price). New york state unemployment tax forms Larry sold the debt instrument for $90,000 on November 1 of Year 4. New york state unemployment tax forms Including the OID he will report for the period he held the debt instrument in Year 4, Larry has included $4,556. New york state unemployment tax forms 00 of OID in income and has increased his basis by that amount to $90,791. New york state unemployment tax forms 00. New york state unemployment tax forms Larry has realized a loss of $791. New york state unemployment tax forms 00. New york state unemployment tax forms All of Larry's loss is capital loss. New york state unemployment tax forms Form 1099-OID The issuer of the debt instrument (or your broker, if you purchased or held the debt instrument through a broker) should give you a copy of Form 1099-OID or a similar statement if the accrued OID for the calendar year is $10 or more and the term of the debt instrument is more than 1 year. New york state unemployment tax forms Form 1099-OID shows all OID income in box 1 except OID on a U. New york state unemployment tax forms S. New york state unemployment tax forms Treasury obligation, which is shown in box 8. New york state unemployment tax forms It also shows, in box 2, any qualified stated interest you must include in income. New york state unemployment tax forms (However, any qualified stated interest on Treasury inflation-protected securities can be reported on Form 1099-INT in box 3. New york state unemployment tax forms ) A copy of Form 1099-OID will be sent to the IRS. New york state unemployment tax forms Do not attach your copy to your tax return. New york state unemployment tax forms Keep it for your records. New york state unemployment tax forms If you are required to file a tax return and you receive Form 1099-OID showing taxable amounts, you must report these amounts on your return. New york state unemployment tax forms A 20% accuracy-related penalty may be charged for underpayment of tax due to either negligence or disregard of rules and regulations or substantial understatement of tax. New york state unemployment tax forms Form 1099-OID not received. New york state unemployment tax forms   If you held an OID debt instrument for a calendar year but did not receive a Form 1099-OID, refer to the discussions under Figuring OID on Long-Term Debt Instruments, later, for information on the OID you must report. New york state unemployment tax forms Refiguring OID. New york state unemployment tax forms   You must refigure the OID shown on Form 1099-OID, in box 1 or box 8, to determine the proper amount to include in income if one of the following applies. New york state unemployment tax forms You bought the debt instrument at a premium or at an acquisition premium. New york state unemployment tax forms The debt instrument is a stripped bond or coupon (including zero coupon bonds backed by U. New york state unemployment tax forms S. New york state unemployment tax forms Treasury securities). New york state unemployment tax forms The debt instrument is a contingent payment or inflation-indexed debt instrument. New york state unemployment tax forms See the discussions under Figuring OID on Long-Term Debt Instruments or Figuring OID on Stripped Bonds and Coupons, later, for the specific computations. New york state unemployment tax forms Refiguring interest. New york state unemployment tax forms   If you disposed of a debt instrument or acquired it from another holder between interest dates, see the discussion under Bonds Sold Between Interest Dates in chapter 1 of Publication 550 for information about refiguring the interest shown on Form 1099-OID in box 2. New york state unemployment tax forms Nominee. New york state unemployment tax forms   If you are the holder of an OID debt instrument and you receive a Form 1099-OID that shows your taxpayer identification number and includes amounts belonging to another person, you are considered a “nominee. New york state unemployment tax forms ” You must file another Form 1099-OID for each actual owner, showing the OID for the owner. New york state unemployment tax forms Show the owner of the debt instrument as the “recipient” and you as the “payer. New york state unemployment tax forms ”   Complete Form 1099-OID and Form 1096 and file the forms with the Internal Revenue Service Center for your area. New york state unemployment tax forms You must also give a copy of the Form 1099-OID to the actual owner. New york state unemployment tax forms However, you are not required to file a nominee return to show amounts belonging to your spouse. New york state unemployment tax forms See the Form 1099 instructions for more information. New york state unemployment tax forms   When preparing your tax return, follow the instructions under Showing an OID adjustment in the next discussion. New york state unemployment tax forms How To Report OID Generally, you report your taxable interest and OID income on the interest line of Form 1040EZ, Form 1040A, or Form 1040. New york state unemployment tax forms Form 1040 or Form 1040A required. New york state unemployment tax forms   You must use Form 1040 or Form 1040A (you cannot use Form 1040EZ) under either of the following conditions. New york state unemployment tax forms You received a Form 1099-OID as a nominee for the actual owner. New york state unemployment tax forms Your total interest and OID income for the year was more than $1,500. New york state unemployment tax forms Form 1040 required. New york state unemployment tax forms   You must use Form 1040 (you cannot use Form 1040A or Form 1040EZ) if you are reporting more or less OID than the amount shown on Form 1099-OID, other than because you are a nominee. New york state unemployment tax forms For example, if you paid a premium or an acquisition premium when you purchased the debt instrument, you must use Form 1040 because you will report less OID than shown on Form 1099-OID. New york state unemployment tax forms Also, you must use Form 1040 if you were charged an early withdrawal penalty. New york state unemployment tax forms Where to report. New york state unemployment tax forms   List each payer's name (if a brokerage firm gave you a Form 1099, list the brokerage firm as the payer) and the amount received from each payer on Form 1040A, Schedule B, Part I, line 1, or Form 1040, Schedule B, line 1. New york state unemployment tax forms Include all OID and periodic interest shown on any Form 1099-OID, boxes 1, 2, and 8, you received for the tax year. New york state unemployment tax forms Also include any other OID and interest income for which you did not receive a Form 1099. New york state unemployment tax forms Showing an OID adjustment. New york state unemployment tax forms   If you use Form 1040 to report more or less OID than shown on Form 1099-OID, list the full OID on Schedule B, Part I, line 1, and follow the instructions under 1 or 2, next. New york state unemployment tax forms   If you use Form 1040A to report the OID shown on a Form 1099-OID you received as a nominee for the actual owner, list the full OID on Schedule B, Part I, line 1 and follow the instructions under 1. New york state unemployment tax forms If the OID, as adjusted, is less than the amount shown on Form 1099-OID, show the adjustment as follows. New york state unemployment tax forms Under your last entry on line 1, subtotal all interest and OID income listed on line 1. New york state unemployment tax forms Below the subtotal, write “Nominee Distribution” or “OID Adjustment” and show the OID you are not required to report. New york state unemployment tax forms Subtract that OID from the subtotal and enter the result on line 2. New york state unemployment tax forms If the OID, as adjusted, is more than the amount shown on Form 1099-OID, show the adjustment as follows. New york state unemployment tax forms Under your last entry on line 1, subtotal all interest and OID income listed on line 1. New york state unemployment tax forms Below the subtotal, write “OID Adjustment” and show the additional OID. New york state unemployment tax forms Add that OID to the subtotal and enter the result on line 2. New york state unemployment tax forms Figuring OID on Long-Term Debt Instruments How you figure the OID on a long-term debt instrument depends on the date it was issued. New york state unemployment tax forms It also may depend on the type of the debt instrument. New york state unemployment tax forms There are different rules for each of the following debt instruments. New york state unemployment tax forms Corporate debt instruments issued after 1954 and before May 28, 1969, and government debt instruments issued after 1954 and before July 2, 1982. New york state unemployment tax forms Corporate debt instruments issued after May 27, 1969, and before July 2, 1982. New york state unemployment tax forms Debt instruments issued after July 1, 1982, and before 1985. New york state unemployment tax forms Debt instruments issued after 1984 (other than debt instruments described in (5) and (6)). New york state unemployment tax forms Contingent payment debt instruments issued after August 12, 1996. New york state unemployment tax forms Inflation-indexed debt instruments (including Treasury inflation-protected securities) issued after January 5, 1997. New york state unemployment tax forms Zero coupon bonds. New york state unemployment tax forms   The rules for figuring OID on zero coupon bonds backed by U. New york state unemployment tax forms S. New york state unemployment tax forms Treasury securities are discussed under Figuring OID on Stripped Bonds and Coupons, later. New york state unemployment tax forms Corporate Debt Instruments Issued After 1954 and Before May 28, 1969, and Government Debt Instruments Issued After 1954 and Before July 2, 1982 If you hold these debt instruments as capital assets, you include OID in income only in the year the debt instrument is sold, exchanged, or redeemed, and only if you have a gain. New york state unemployment tax forms The OID, which is taxed as ordinary income, generally equals the following amount. New york state unemployment tax forms   number of full months you held the debt instrument  number of full months from date of original issue to date of maturity X original issue discount The balance of the gain is capital gain. New york state unemployment tax forms If there is a loss on the sale of the debt instrument, the entire loss is a capital loss and no OID is reported. New york state unemployment tax forms Corporate Debt Instruments Issued After May 27, 1969, and Before July 2, 1982 If you hold these debt instruments as capital assets, you must include part of the OID in income each year you own the debt instruments. New york state unemployment tax forms For information about showing the correct OID on your tax return, see the discussion under How To Report OID, earlier. New york state unemployment tax forms Your basis in the debt instrument is increased by the OID you include in income. New york state unemployment tax forms Form 1099-OID. New york state unemployment tax forms   You should receive a Form 1099-OID showing OID for the part of the year you held the debt instrument. New york state unemployment tax forms However, if you paid an acquisition premium, you may need to refigure the OID to report on your tax return. New york state unemployment tax forms See Reduction for acquisition premium, later. New york state unemployment tax forms If you held an OID debt instrument in a calendar year but did not receive a Form 1099-OID, see Form 1099-OID not received, immediately below, and refer to Section I-A available at www. New york state unemployment tax forms irs. New york state unemployment tax forms gov/pub1212 by clicking the link under Recent Developments. New york state unemployment tax forms Form 1099-OID not received. New york state unemployment tax forms    The OID listed is for each $1,000 of redemption price. New york state unemployment tax forms You must adjust the listed amount if your debt instrument has a different principal amount. New york state unemployment tax forms For example, if you have a debt instrument with a $500 principal amount, use one-half the listed amount to figure your OID. New york state unemployment tax forms   If you held the debt instrument the entire year, use the OID shown in Section I-A for a calendar year. New york state unemployment tax forms (If your debt instrument is not listed in Section I-A, consult the issuer for information about the issue price and the OID that accrued for that year. New york state unemployment tax forms ) If you did not hold the debt instrument the entire year, figure your OID using the following method. New york state unemployment tax forms Divide the OID shown by 12. New york state unemployment tax forms Multiply the result in (1) by the number of complete and partial months (for example, 6½ months) you held the debt instrument during a calendar year. New york state unemployment tax forms This is the OID to include in income unless you paid an acquisition premium. New york state unemployment tax forms The reduction for acquisition premium is discussed next. New york state unemployment tax forms Reduction for acquisition premium. New york state unemployment tax forms   If you bought the debt instrument at an acquisition premium, figure the OID to include in income as follows. New york state unemployment tax forms Divide the total OID on the debt instrument by the number of complete months, and any part of a month, from the date of original issue to the maturity date. New york state unemployment tax forms This is the monthly OID. New york state unemployment tax forms Subtract from your cost the issue price and the accumulated OID from the date of issue to the date of purchase. New york state unemployment tax forms (If the result is zero or less, stop here. New york state unemployment tax forms You did not pay an acquisition premium. New york state unemployment tax forms ) Divide the amount figured in (2) by the number of complete months, and any part of a month, from the date of your purchase to the maturity date. New york state unemployment tax forms Subtract the amount figured in (3) from the amount figured in (1). New york state unemployment tax forms This is the OID to include in income for each month you hold the debt instrument during the year. New york state unemployment tax forms Transfers during the month. New york state unemployment tax forms   If you buy or sell a debt instrument on any day other than the same day of the month as the date of original issue, the ratable monthly portion of OID for the month of sale is divided between the seller and the buyer according to the number of days each held the debt instrument. New york state unemployment tax forms Your holding period for this purpose begins the day you acquire the debt instrument and ends the day before you dispose of it. New york state unemployment tax forms Debt Instruments Issued After July 1, 1982, and Before 1985 If you hold these debt instruments as capital assets, you must include part of the OID in income each year you own the debt instruments and increase your basis by the amount included. New york state unemployment tax forms For information about showing the correct OID on your tax return, see How To Report OID, earlier. New york state unemployment tax forms Form 1099-OID. New york state unemployment tax forms   You should receive a Form 1099-OID showing OID for the part of the year you held the debt instrument. New york state unemployment tax forms However, if you paid an acquisition premium, you may need to refigure the OID to report on your tax return. New york state unemployment tax forms See Constant yield method and the discussions on acquisition premium that follow, later. New york state unemployment tax forms If you held an OID debt instrument in a calendar year but did not receive a Form 1099-OID, see Form 1099-OID not received, immediately below, and refer to Section I-A available at www. New york state unemployment tax forms irs. New york state unemployment tax forms gov/pub1212 by clicking the link under Recent Developments. New york state unemployment tax forms Form 1099-OID not received. New york state unemployment tax forms    The OID listed is for each $1,000 of redemption price. New york state unemployment tax forms You must adjust the listed amount if your debt instrument has a different principal amount. New york state unemployment tax forms For example, if you have a debt instrument with a $500 principal amount, use one-half the listed amount to figure your OID. New york state unemployment tax forms   If you held the debt instrument the entire year, use the OID shown in Section I-A. New york state unemployment tax forms (If your instrument is not listed in Section I-A, consult the issuer for information about the issue price, the yield to maturity, and the OID that accrued for that year. New york state unemployment tax forms ) If you did not hold the debt instrument the entire year, figure your OID using either of the following methods. New york state unemployment tax forms Method 1. New york state unemployment tax forms    Divide the total OID for a calendar year by 365 (366 for leap years). New york state unemployment tax forms Multiply the result in (1) by the number of days you held the debt instrument during that particular year. New york state unemployment tax forms  This computation is an approximation and may result in a slightly higher OID than Method 2. New york state unemployment tax forms Method 2. New york state unemployment tax forms    Look up the daily OID for the first accrual period you held the debt instrument during a calendar year. New york state unemployment tax forms (See Accrual period under Constant yield method, next. New york state unemployment tax forms ) Multiply the daily OID by the number of days you held the debt instrument during that accrual period. New york state unemployment tax forms If you held the debt instrument for part of both accrual periods, repeat (1) and (2) for the second accrual period. New york state unemployment tax forms Add the results of (2) and (3). New york state unemployment tax forms This is the OID to include in income, unless you paid an acquisition premium. New york state unemployment tax forms (The reduction for acquisition premium is discussed later. New york state unemployment tax forms ) Constant yield method. New york state unemployment tax forms   This discussion shows how to figure OID on debt instruments issued after July 1, 1982, and before 1985, using a constant yield method. New york state unemployment tax forms OID is allocated over the life of the debt instrument through adjustments to the issue price for each accrual period. New york state unemployment tax forms   Figure the OID allocable to any accrual period as follows. New york state unemployment tax forms Multiply the adjusted issue price at the beginning of the accrual period by the debt instrument's yield to maturity. New york state unemployment tax forms Subtract from the result in (1) any qualified stated interest allocable to the accrual period. New york state unemployment tax forms Accrual period. New york state unemployment tax forms   An accrual period for any OID debt instrument issued after July 1, 1982, and before 1985 is each 1-year period beginning on the date of the issue of the obligation and each anniversary thereafter, or the shorter period to maturity for the last accrual period. New york state unemployment tax forms Your tax year will usually include parts of two accrual periods. New york state unemployment tax forms Daily OID. New york state unemployment tax forms   The OID for any accrual period is allocated equally to each day in the accrual period. New york state unemployment tax forms You must include in income the sum of the OID amounts for each day you hold the debt instrument during the year. New york state unemployment tax forms If your tax year includes parts of two or more accrual periods, you must include the proper daily OID amounts for each accrual period. New york state unemployment tax forms Figuring daily OID. New york state unemployment tax forms   The daily OID for the initial accrual period is figured using the following formula. New york state unemployment tax forms   (ip × ytm) − qsi     p   ip = issue price ytm = yield to maturity qsi = qualified stated interest p = number of days in accrual period         The daily OID for subsequent accrual periods is figured the same way except the adjusted issue price at the beginning of each period is used in the formula instead of the issue price. New york state unemployment tax forms Reduction for acquisition premium on debt instruments purchased before July 19, 1984. New york state unemployment tax forms   If you bought the debt instrument at an acquisition premium before July 19, 1984, figure the OID includible in income by reducing the daily OID by the daily acquisition premium. New york state unemployment tax forms Figure the daily acquisition premium by dividing the total acquisition premium by the number of days in the period beginning on your purchase date and ending on the day before the date of maturity. New york state unemployment tax forms Reduction for acquisition premium on debt instruments purchased after July 18, 1984. New york state unemployment tax forms   If you bought the debt instrument at an acquisition premium after July 18, 1984, figure the OID includible in income by reducing the daily OID by the daily acquisition premium. New york state unemployment tax forms However, the method of figuring the daily acquisition premium is different from the method described in the preceding discussion. New york state unemployment tax forms To figure the daily acquisition premium under this method, multiply the daily OID by the following fraction. New york state unemployment tax forms The numerator is the acquisition premium. New york state unemployment tax forms The denominator is the total OID remaining for the debt instrument after your purchase date. New york state unemployment tax forms Section I-A is available at www. New york state unemployment tax forms irs. New york state unemployment tax forms gov/pub1212 and clicking the link under Recent Developments. New york state unemployment tax forms Using Section I-A to figure accumulated OID. New york state unemployment tax forms   If you bought your corporate debt instrument in a calendar year or the subsequent year, you can figure the accumulated OID to the date of purchase by adding the following amounts. New york state unemployment tax forms The amount from the “Total OID to January 1, YYYY” column for your debt instrument. New york state unemployment tax forms The OID from January 1 of a calendar year to the date of purchase, figured as follows. New york state unemployment tax forms Multiply the daily OID for the first accrual period in the calendar year by the number of days from January 1 to the date of purchase, or the end of the accrual period if the debt instrument was purchased in the second or third accrual period. New york state unemployment tax forms Multiply the daily OID for each subsequent accrual period by the number of days in the period to the date of purchase or the end of the accrual period, whichever applies. New york state unemployment tax forms Add the amounts figured in (2a) and (2b). New york state unemployment tax forms Debt Instruments Issued After 1984 If you hold debt instruments issued after 1984, you must report part of the OID in gross income each year that you own the debt instruments. New york state unemployment tax forms You must include the OID in gross income whether or not you hold the debt instrument as a capital asset. New york state unemployment tax forms Your basis in the debt instrument is increased by the OID you include in income. New york state unemployment tax forms For information about showing the correct OID on your tax return, see How To Report OID, earlier. New york state unemployment tax forms Form 1099-OID. New york state unemployment tax forms   You should receive a Form 1099-OID showing OID for the part of a calendar year you held the debt instrument. New york state unemployment tax forms However, if you paid an acquisition premium, you may need to refigure the OID to report on your tax return. New york state unemployment tax forms See Constant yield method and Reduction for acquisition premium, later. New york state unemployment tax forms   You may also need to refigure the OID for a contingent payment or inflation-indexed debt instrument on which the amount reported on Form 1099-OID is inaccurate. New york state unemployment tax forms See Contingent Payment Debt Instruments or Inflation-Indexed Debt Instruments, later. New york state unemployment tax forms If you held an OID debt instrument in a calendar year but did not receive a Form 1099-OID, see Form 1099-OID not received, immediately below, and refer to Section I-B available at www. New york state unemployment tax forms irs. New york state unemployment tax forms gov/pub1212 by clicking the link under Recent Developments. New york state unemployment tax forms Form 1099-OID not received. New york state unemployment tax forms   The OID listed is for each $1,000 of redemption price. New york state unemployment tax forms You must adjust the listed amount if your debt instrument has a different principal amount. New york state unemployment tax forms For example, if you have a debt instrument with a $500 principal amount, use one-half the listed amount to figure your OID. New york state unemployment tax forms   Use the OID shown in Section I-B for a calendar year if you held the debt instrument the entire year. New york state unemployment tax forms (If your debt instrument is not listed in Section I-B, consult the issuer for information about the issue price, the yield to maturity, and the OID that accrued for that year. New york state unemployment tax forms ) If you did not hold the debt instrument the entire year, figure your OID as follows. New york state unemployment tax forms Look up the daily OID for the first accrual period in which you held the debt instrument during a calendar year. New york state unemployment tax forms (See Accrual period under Constant yield method, later. New york state unemployment tax forms ) Multiply the daily OID by the number of days you held the debt instrument during that accrual period. New york state unemployment tax forms Repeat (1) and (2) for any remaining accrual periods in which you held the debt instrument. New york state unemployment tax forms Add the results of (2) and (3). New york state unemployment tax forms This is the OID to include in income for that year, unless you paid an acquisition premium. New york state unemployment tax forms (The reduction for acquisition premium is discussed later. New york state unemployment tax forms ) Tax-exempt bond. New york state unemployment tax forms   If you own a tax-exempt bond, figure your basis in the bond by adding to your cost the OID you would have included in income if the bond had been taxable. New york state unemployment tax forms You need to make this adjustment to determine if you have a gain or loss on a later disposition of the bond. New york state unemployment tax forms In general, use the rules that follow to determine your OID. New york state unemployment tax forms Constant yield method. New york state unemployment tax forms   This discussion shows how to figure OID on debt instruments issued after 1984 using a constant yield method. New york state unemployment tax forms (The special rules that apply to contingent payment debt instruments and inflation-indexed debt instruments are explained later. New york state unemployment tax forms ) OID is allocated over the life of the debt instrument through adjustments to the issue price for each accrual period. New york state unemployment tax forms   Figure the OID allocable to any accrual period as follows. New york state unemployment tax forms Multiply the adjusted issue price at the beginning of the accrual period by a fraction. New york state unemployment tax forms The numerator of the fraction is the debt instrument's yield to maturity and the denominator is the number of accrual periods per year. New york state unemployment tax forms The yield must be stated appropriately taking into account the length of the particular accrual period. New york state unemployment tax forms Subtract from the result in (1) any qualified stated interest allocable to the accrual period. New york state unemployment tax forms Accrual period. New york state unemployment tax forms   For debt instruments issued after 1984 and before April 4, 1994, an accrual period is each 6-month period that ends on the day that corresponds to the stated maturity date of the debt instrument or the date 6 months before that date. New york state unemployment tax forms For example, a debt instrument maturing on March 31 has accrual periods that end on September 30 and March 31 of each calendar year. New york state unemployment tax forms Any short period is included as the first accrual period. New york state unemployment tax forms   For debt instruments issued after April 3, 1994, accrual periods may be of any length and may vary in length over the term of the debt instrument, as long as each accrual period is no longer than 1 year and all payments are made on the first or last day of an accrual period. New york state unemployment tax forms However, the OID listed for these debt instruments in Section I-B has been figured using 6-month accrual periods. New york state unemployment tax forms Daily OID. New york state unemployment tax forms   The OID for any accrual period is allocated equally to each day in the accrual period. New york state unemployment tax forms Figure the amount to include in income by adding the OID for each day you hold the debt instrument during the year. New york state unemployment tax forms Since your tax year will usually include parts of two or more accrual periods, you must include the proper daily OID for each accrual period. New york state unemployment tax forms If your debt instrument has 6-month accrual periods, your tax year will usually include one full 6-month accrual period and parts of two other 6-month periods. New york state unemployment tax forms Figuring daily OID. New york state unemployment tax forms   The daily OID for the initial accrual period is figured using the following formula. New york state unemployment tax forms   (ip × ytm/n) − qsi     p   ip = issue price ytm = yield to maturity n = number of accrual periods in 1 year qsi = qualified stated interest p = number of days in accrual period       The daily OID for subsequent accrual periods is figured the same way except the adjusted issue price at the beginning of each period is used in the formula instead of the issue price. New york state unemployment tax forms Example 5. New york state unemployment tax forms On January 1 of Year 1, you bought a 15-year, 10% debt instrument of A Corporation at original issue for $86,235. New york state unemployment tax forms 17. New york state unemployment tax forms According to the prospectus, the debt instrument matures on December 31 of Year 15 at a stated redemption price of $100,000. New york state unemployment tax forms The yield to maturity is 12%, compounded semiannually. New york state unemployment tax forms The debt instrument provides for qualified stated interest payments of $5,000 on June 30 and December 31 of each calendar year. New york state unemployment tax forms The accrual periods are the 6-month periods ending on each of these dates. New york state unemployment tax forms The number of days for the first accrual period (January 1 through June 30) is 181 days (182 for leap years). New york state unemployment tax forms The daily OID for the first accrual period is figured as follows. New york state unemployment tax forms   ($86,235. New york state unemployment tax forms 17 x . New york state unemployment tax forms 12/2) – $5,000     181 days     = $174. New york state unemployment tax forms 11020 = $. New york state unemployment tax forms 96193   181           The adjusted issue price at the beginning of the second accrual period is the issue price plus the OID previously includible in income ($86,235. New york state unemployment tax forms 17 + $174. New york state unemployment tax forms 11), or $86,409. New york state unemployment tax forms 28. New york state unemployment tax forms The number of days for the second accrual period (July 1 through December 31) is 184 days. New york state unemployment tax forms The daily OID for the second accrual period is figured as follows. New york state unemployment tax forms   ($86,409. New york state unemployment tax forms 28 x . New york state unemployment tax forms 12/2) – $5,000     184 days     = $184. New york state unemployment tax forms 55681 = $1. New york state unemployment tax forms 00303   184 Since the first and second accrual periods coincide exactly with your tax year, you include in income for Year 1 the OID allocable to the first two accrual periods, $174. New york state unemployment tax forms 11 ($. New york state unemployment tax forms 95665 × 182 days) plus $184. New york state unemployment tax forms 56 ($1. New york state unemployment tax forms 00303 × 184 days), or $358. New york state unemployment tax forms 67. New york state unemployment tax forms Add the OID to the $10,000 interest you report on your income tax return for Year 1. New york state unemployment tax forms Example 6. New york state unemployment tax forms Assume the same facts as in Example 5, except that you bought the debt instrument at original issue on May 1 of Year 1, with a maturity date of April 30, Year 16. New york state unemployment tax forms Also, the interest payment dates are October 31 and April 30 of each calendar year. New york state unemployment tax forms The accrual periods are the 6-month periods ending on each of these dates. New york state unemployment tax forms The number of days for the first accrual period (May 1 through October 31) is 184 days. New york state unemployment tax forms The daily OID for the first accrual period is figured as follows. New york state unemployment tax forms   ($86,235. New york state unemployment tax forms 17 x . New york state unemployment tax forms 12/2) – $5,000     184 days     = $174. New york state unemployment tax forms 11020 = $. New york state unemployment tax forms 94625   184           The number of days for the second accrual period (November 1 through April 30) is 181 days (182 for leap years). New york state unemployment tax forms The daily OID for the second accrual period is figured as follows. New york state unemployment tax forms   ($86,409. New york state unemployment tax forms 28 x . New york state unemployment tax forms 12/2) – $5,000     181 days     = $184. New york state unemployment tax forms 55681 = $1. New york state unemployment tax forms 01965   181 If you hold the debt instrument through the end of Year 1, you must include $236. New york state unemployment tax forms 31 of OID in income. New york state unemployment tax forms This is $174. New york state unemployment tax forms 11 ($. New york state unemployment tax forms 94625 × 184 days) for the period May 1 through October 31 plus $62. New york state unemployment tax forms 20 ($1. New york state unemployment tax forms 01965 × 61 days) for the period November 1 through December 31. New york state unemployment tax forms The OID is added to the $5,000 interest income paid on October 31 of Year 1. New york state unemployment tax forms Your basis in the debt instrument is increased by the OID you include in income. New york state unemployment tax forms On January 1 of Year 2, your basis in the A Corporation debt instrument is $86,471. New york state unemployment tax forms 48 ($86,235. New york state unemployment tax forms 17 + $236. New york state unemployment tax forms 31). New york state unemployment tax forms Short first accrual period. New york state unemployment tax forms   You may have to make adjustments if a debt instrument has a short first accrual period. New york state unemployment tax forms For example, a debt instrument with 6-month accrual periods that is issued on February 15 and matures on October 31 has a short first accrual period that ends April 30. New york state unemployment tax forms (The remaining accrual periods begin on May 1 and November 1. New york state unemployment tax forms ) For this short period, figure the daily OID as described earlier, but adjust the yield for the length of the short accrual period. New york state unemployment tax forms You may use any reasonable compounding method in determining OID for a short period. New york state unemployment tax forms Examples of reasonable compounding methods include continuous compounding and monthly compounding (that is, simple interest within a month). New york state unemployment tax forms Consult your tax advisor for more information about making this computation. New york state unemployment tax forms   The OID for the final accrual period is the difference between the amount payable at maturity (other than a payment of qualified stated interest) and the adjusted issue price at the beginning of the final accrual period. New york state unemployment tax forms Reduction for acquisition premium. New york state unemployment tax forms   If you bought the debt instrument at an acquisition premium, figure the OID includible in income by reducing the daily OID by the daily acquisition premium. New york state unemployment tax forms To figure the daily acquisition premium, multiply the daily OID by the following fraction. New york state unemployment tax forms The numerator is the acquisition premium. New york state unemployment tax forms The denominator is the total OID remaining for the debt instrument after your purchase date. New york state unemployment tax forms Example 7. New york state unemployment tax forms Assume the same facts as in Example 6, except that you bought the debt instrument on November 1 of Year 1 for $87,000, after its original issue on May 1 of Year 1. New york state unemployment tax forms The adjusted issue price on November 1 of Year 1 is $86,409. New york state unemployment tax forms 28 ($86,235. New york state unemployment tax forms 17 + $174. New york state unemployment tax forms 11). New york state unemployment tax forms In this case, you paid an acquisition premium of $590. New york state unemployment tax forms 72 ($87,000 − $86,409. New york state unemployment tax forms 28). New york state unemployment tax forms The daily OID for the accrual period November 1 through April 30, reduced for the acquisition premium, is figured as follows. New york state unemployment tax forms 1) Daily OID on date of purchase (2nd accrual period) $1. New york state unemployment tax forms 01965*  2)  Acquisition premium $590. New york state unemployment tax forms 72    3)  Total OID remaining after purchase date ($13,764. New york state unemployment tax forms 83 − $174. New york state unemployment tax forms 11) 13,590. New york state unemployment tax forms 72   4) Line 2 ÷ line 3 . New york state unemployment tax forms 04346  5)  Line 1 × line 4 . New york state unemployment tax forms 04432  6)  Daily OID reduced for the acquisition premium. New york state unemployment tax forms Line 1 − line 5 $0. New york state unemployment tax forms 97533  * As shown in Example 6. New york state unemployment tax forms The total OID to include in income for Year 1 is $59. New york state unemployment tax forms 50 ($. New york state unemployment tax forms 97533 × 61 days). New york state unemployment tax forms Contingent Payment Debt Instruments This discussion shows how to figure OID on a contingent payment debt instrument issued after August 12, 1996, that was issued for cash or publicly traded property. New york state unemployment tax forms In general, a contingent payment debt instrument provides for one or more payments that are contingent as to timing or amount. New york state unemployment tax forms If you hold a contingent payment bond, you must report OID as it accrues each year. New york state unemployment tax forms Because the actual payments on a contingent payment debt instrument cannot be known in advance, issuers and holders cannot use the constant yield method (discussed earlier under Debt Instruments Issued After 1984) without making certain assumptions about the payments on the debt instrument. New york state unemployment tax forms To figure OID accruals on contingent payment debt instruments, holders and issuers must use the noncontingent bond method. New york state unemployment tax forms Noncontingent bond method. New york state unemployment tax forms    Under this method, the issuer must compute a comparable yield for the debt instrument and, based on this yield, construct a projected payment schedule for the instrument, which includes a projected fixed amount for each contingent payment. New york state unemployment tax forms In general, holders and issuers accrue OID on this projected payment schedule using the constant yield method that applies to fixed payment debt instruments. New york state unemployment tax forms When a contingent payment differs from the projected fixed amount, the holders and issuers make adjustments to their OID accruals. New york state unemployment tax forms If the actual contingent payment is larger than expected, both the issuer and the holder increase their OID accruals. New york state unemployment tax forms If the actual contingent payment is smaller than expected, holders and issuers generally decrease their OID accruals. New york state unemployment tax forms Form 1099-OID. New york state unemployment tax forms   The amount shown on Form 1099-OID in box 1 you receive for a contingent payment debt instrument may not be the correct amount to include in income. New york state unemployment tax forms For example, the amount may not be correct if the contingent payment was different from the projected amount. New york state unemployment tax forms If the amount in box 1 is not correct, you must figure the OID to report on your return under the following rules. New york state unemployment tax forms For information on showing an OID adjustment on your tax return, see How To Report OID, earlier. New york state unemployment tax forms Figuring OID. New york state unemployment tax forms   To figure OID on a contingent payment debt instrument, you need to know the “comparable yield” and “projected payment schedule” of the debt instrument. New york state unemployment tax forms The issuer must make these available to you. New york state unemployment tax forms Comparable yield. New york state unemployment tax forms   The comparable yield generally is the yield at which the issuer would issue a fixed rate debt instrument with terms and conditions similar to those of the contingent payment debt instrument. New york state unemployment tax forms The comparable yield is determined as of the debt instrument's issue date. New york state unemployment tax forms Projected payment schedule. New york state unemployment tax forms   The projected payment schedule for a contingent payment debt instrument includes all fixed payments due under the instrument and a projected fixed amount for each contingent payment. New york state unemployment tax forms The projected payment schedule is created by the issuer as of the debt instrument's issue date. New york state unemployment tax forms It is used to determine the issuer's and holder's interest accruals and adjustments. New york state unemployment tax forms Steps for figuring OID. New york state unemployment tax forms   Figure the OID on a contingent payment debt instrument in two steps. New york state unemployment tax forms Figure the OID using the constant yield method (discussed earlier under Debt Instruments Issued After 1984 ) that applies to fixed payment debt instruments. New york state unemployment tax forms Use the comparable yield as the yield to maturity. New york state unemployment tax forms In general, use the projected payment schedule to determine the instrument's adjusted issue price at the beginning of each accrual period (other than the initial period). New york state unemployment tax forms Do not treat any amount payable as qualified stated interest. New york state unemployment tax forms Adjust the OID in (1) to account for actual contingent payments. New york state unemployment tax forms If the contingent payment is greater than the projected fixed amount, you have a positive adjustment. New york state unemployment tax forms If the contingent payment is less than the projected fixed amount, you have a negative adjustment. New york state unemployment tax forms Net positive adjustment. New york state unemployment tax forms   A net positive adjustment exists for a tax year when the total of any positive adjustments described in (2) above for the tax year is more than the total of any negative adjustments for the tax year. New york state unemployment tax forms Treat a net positive adjustment as additional OID for the tax year. New york state unemployment tax forms Net negative adjustment. New york state unemployment tax forms   A net negative adjustment exists for a tax year when the total of any negative adjustments described in (2) above for the tax year is more than the total of any positive adjustments for the tax year. New york state unemployment tax forms Use a net negative adjustment to offset OID on the debt instrument for the tax year. New york state unemployment tax forms If the net negative adjustment is more than the OID on the debt instrument for the tax year, you can claim the difference as an ordinary loss. New york state unemployment tax forms However, the amount you can claim as an ordinary loss is limited to the OID on the debt instrument you included in income in prior tax years. New york state unemployment tax forms You must carry forward any net negative adjustment that is more than the total OID for the tax year and prior tax years and treat it as a negative adjustment in the next tax year. New york state unemployment tax forms Basis adjustments. New york state unemployment tax forms   In general, increase your basis in a contingent payment debt instrument by the OID included in income. New york state unemployment tax forms Your basis, however, is not affected by any negative or positive adjustments. New york state unemployment tax forms Decrease your basis by any noncontingent payment received and the projected contingent payment scheduled to be received. New york state unemployment tax forms Treatment of gain or loss on sale or exchange. New york state unemployment tax forms   If you sell a contingent payment debt instrument at a gain, your gain is ordinary income (interest income), even if you hold the debt instrument as a capital asset. New york state unemployment tax forms If you sell a contingent payment debt instrument at a loss, your loss is an ordinary loss to the extent of your prior OID accruals on the debt instrument. New york state unemployment tax forms If the debt instrument is a capital asset, treat any loss that is more than your prior OID accruals as a capital loss. New york state unemployment tax forms See Regulations section 1. New york state unemployment tax forms 1275-4 for exceptions to these rules. New york state unemployment tax forms Premium, acquisition premium, and market discount. New york state unemployment tax forms   The rules for accruing premium, acquisition premium, and market discount do not apply to a contingent payment debt instrument. New york state unemployment tax forms See Regulations section 1. New york state unemployment tax forms 1275-4 to determine how to account for these items. New york state unemployment tax forms Inflation-Indexed Debt Instruments This discussion shows how you figure OID on certain inflation-indexed debt instruments issued after January 5, 1997. New york state unemployment tax forms An inflation-indexed debt instrument is generally a debt instrument on which the payments are adjusted for inflation and d
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The New York State Unemployment Tax Forms

New york state unemployment tax forms 6. New york state unemployment tax forms   Retail Tax on Heavy Trucks, Trailers, and Tractors Table of Contents Highway vehicle. New york state unemployment tax forms Vehicles not considered highway vehicles. New york state unemployment tax forms Idling reduction device. New york state unemployment tax forms Separate purchase. New york state unemployment tax forms Leases. New york state unemployment tax forms Exported vehicle. New york state unemployment tax forms Tax on resale of tax-paid trailers and semitrailers. New york state unemployment tax forms Use treated as sale. New york state unemployment tax forms Sale. New york state unemployment tax forms Long-term lease. New york state unemployment tax forms Short-term lease. New york state unemployment tax forms Related person. New york state unemployment tax forms Exclusions from tax base. New york state unemployment tax forms Sales not at arm's length. New york state unemployment tax forms Installment sales. New york state unemployment tax forms Repairs and modifications. New york state unemployment tax forms Further manufacture. New york state unemployment tax forms Rail trailers and rail vans. New york state unemployment tax forms Parts and accessories. New york state unemployment tax forms Trash containers. New york state unemployment tax forms House trailers. New york state unemployment tax forms Camper coaches or bodies for self-propelled mobile homes. New york state unemployment tax forms Farm feed, seed, and fertilizer equipment. New york state unemployment tax forms Ambulances and hearses. New york state unemployment tax forms Truck-tractors. New york state unemployment tax forms Concrete mixers. New york state unemployment tax forms Registration requirement. New york state unemployment tax forms Further manufacture. New york state unemployment tax forms A tax of 12% of the sales price is imposed on the first retail sale of the following articles, including related parts and accessories sold on or in connection with, or with the sale of, the articles. New york state unemployment tax forms Truck chassis and bodies. New york state unemployment tax forms Truck trailer and semitrailer chassis and bodies. New york state unemployment tax forms Tractors of the kind chiefly used for highway transportation in combination with a trailer or semitrailer. New york state unemployment tax forms A truck is a highway vehicle primarily designed to transport its load on the same chassis as the engine, even if it is equipped to tow a vehicle, such as a trailer or semitrailer. New york state unemployment tax forms A tractor is a highway vehicle designed to tow a vehicle, such as a trailer or semitrailer. New york state unemployment tax forms A tractor may carry incidental items of cargo when towing or limited amounts of cargo when not towing. New york state unemployment tax forms A sale of a truck, truck trailer, or semitrailer is considered a sale of a chassis and a body. New york state unemployment tax forms The seller is liable for the tax. New york state unemployment tax forms Chassis or body. New york state unemployment tax forms   A chassis or body is taxable only if you sell it for use as a component part of a highway vehicle that is a truck, truck trailer or semitrailer, or a tractor of the kind chiefly used for highway transportation in combination with a trailer or semitrailer. New york state unemployment tax forms Highway vehicle. New york state unemployment tax forms   A highway vehicle is any self-propelled vehicle designed to carry a load over public highways, whether or not it is also designed to perform other functions. New york state unemployment tax forms Examples of vehicles designed to carry a load over public highways are passenger automobiles, motorcycles, buses, and highway-type trucks and truck tractors. New york state unemployment tax forms A vehicle is a highway vehicle even though the vehicle's design allows it to perform a highway transportation function for only one of the following. New york state unemployment tax forms A particular type of load, such as passengers, furnishings, and personal effects (as in a house, office, or utility trailer). New york state unemployment tax forms A special kind of cargo, goods, supplies, or materials. New york state unemployment tax forms Some off-highway task unrelated to highway transportation, except as discussed next. New york state unemployment tax forms Vehicles not considered highway vehicles. New york state unemployment tax forms   Generally, the following kinds of vehicles are not considered highway vehicles for purposes of the retail tax. New york state unemployment tax forms Specially designed mobile machinery for nontransportation functions. New york state unemployment tax forms A self-propelled vehicle is not a highway vehicle if all the following apply. New york state unemployment tax forms The chassis has permanently mounted to it machinery or equipment used to perform certain operations (construction, manufacturing, drilling, mining, timbering, processing, farming, or similar operations) if the operation of the machinery or equipment is unrelated to transportation on or off the public highways. New york state unemployment tax forms The chassis has been specially designed to serve only as a mobile carriage and mount (and power source, if applicable) for the machinery or equipment, whether or not the machinery or equipment is in operation. New york state unemployment tax forms The chassis could not, because of its special design and without substantial structural modification, be used as part of a vehicle designed to carry any other load. New york state unemployment tax forms Vehicles specially designed for off-highway transportation. New york state unemployment tax forms A vehicle is not treated as a highway vehicle if the vehicle is specially designed for the primary function of transporting a particular type of load other than over the public highway and because of this special design, the vehicles's capability to transport a load over a public highway is substantially limited or impaired. New york state unemployment tax forms To make this determination, you can take into account the vehicle's size, whether the vehicle is subject to licensing, safety, or other requirements, and whether the vehicle can transport a load at a sustained speed of at least 25 miles per hour. New york state unemployment tax forms It does not matter that the vehicle can carry heavier loads off highway than it is allowed to carry over the highway. New york state unemployment tax forms Nontransportation trailers and semitrailers. New york state unemployment tax forms A trailer or semitrailer is not treated as a highway vehicle if it is specially designed to function only as an enclosed stationary shelter for carrying on a nontransportation function at an off-highway site. New york state unemployment tax forms For example, a trailer that is capable only of functioning as an office for an off-highway construction operation is not a highway vehicle. New york state unemployment tax forms Gross vehicle weight. New york state unemployment tax forms   The tax does not apply to truck chassis and bodies suitable for use with a vehicle that has a gross vehicle weight (defined below) of 33,000 pounds or less. New york state unemployment tax forms It also does not apply to truck trailer and semitrailer chassis and bodies suitable for use with a trailer or semitrailer that has a gross vehicle weight of 26,000 pounds or less. New york state unemployment tax forms Tractors that have a gross vehicle weight of 19,500 pounds or less and a gross combined weight of 33,000 pounds or less are excluded from the 12% retail tax. New york state unemployment tax forms   The following four classifications of truck body types meet the suitable for use standard and will be excluded from the retail excise tax. New york state unemployment tax forms Platform truck bodies 21 feet or less in length. New york state unemployment tax forms Dry freight and refrigerated truck van bodies 24 feet or less in length. New york state unemployment tax forms Dump truck bodies with load capacities of 8 cubic yards or less. New york state unemployment tax forms Refuse packer truck bodies with load capacities of 20 cubic yards or less. New york state unemployment tax forms For more information on these classifications, see Revenue Procedure 2005-19, which is on page 832 of I. New york state unemployment tax forms R. New york state unemployment tax forms B. New york state unemployment tax forms 2005-14 at www. New york state unemployment tax forms irs. New york state unemployment tax forms gov/pub/irs-irbs/irb05-14. New york state unemployment tax forms pdf. New york state unemployment tax forms   The gross vehicle weight means the maximum total weight of a loaded vehicle. New york state unemployment tax forms Generally, this maximum total weight is the gross vehicle weight rating provided by the manufacturer or determined by the seller of the completed article. New york state unemployment tax forms The seller's gross vehicle weight rating is determined solely on the basis of the strength of the chassis frame and the axle capacity and placement. New york state unemployment tax forms The seller may not take into account any readily attachable components (such as tires or rim assemblies) in determining the gross vehicle weight. New york state unemployment tax forms See Regulations section 145. New york state unemployment tax forms 4051-1(e)(3) for more information. New york state unemployment tax forms Parts or accessories. New york state unemployment tax forms   The tax applies to parts or accessories sold on or in connection with, or with the sale of, a taxable article. New york state unemployment tax forms For example, if at the time of the sale by the retailer, the part or accessory has been ordered from the retailer, the part or accessory will be considered as sold in connection with the sale of the vehicle. New york state unemployment tax forms The tax applies in this case whether or not the retailer bills the parts or accessories separately. New york state unemployment tax forms   If the retailer sells a taxable chassis, body, or tractor without parts or accessories considered essential for the operation or appearance of the taxable article, the sale of the parts or accessories by the retailer to the purchaser is considered made in connection with the sale of the taxable article even though they are shipped separately, at the same time, or on a different date. New york state unemployment tax forms The tax applies unless there is evidence to the contrary. New york state unemployment tax forms For example, if a retailer sells to any person a chassis and the bumpers for the chassis, or sells a taxable tractor and the fifth wheel and attachments, the tax applies to the parts or accessories regardless of the method of billing or the time at which the shipments were made. New york state unemployment tax forms The tax does not apply to parts and accessories that are spares or replacements. New york state unemployment tax forms   The tax imposed on parts and accessories sold on or in connection with the taxable articles listed earlier and the tax imposed on the separate purchase of parts and accessories (discussed next) for the taxable articles listed earlier do not apply to an idling reduction device or insulation that has an R value of at least R35 per inch. New york state unemployment tax forms Idling reduction device. New york state unemployment tax forms   An idling reduction device is any device or system of devices that provide the tractor with services, such as heat, air conditioning, and electricity, without the use of the main drive engine while the tractor is temporarily parked or stationary. New york state unemployment tax forms The device must be affixed to the tractor and determined by the Administrator of the EPA, in consultation with the Secretary of Energy and Secretary of Transportation, to reduce idling while parked or stationary. New york state unemployment tax forms The EPA discusses idling reduction technologies on its website at www. New york state unemployment tax forms epa. New york state unemployment tax forms gov/smartway/technology/idling. New york state unemployment tax forms htm. New york state unemployment tax forms Separate purchase. New york state unemployment tax forms   The tax generally applies to the price of a part or accessory and its installation if the following conditions are met. New york state unemployment tax forms The owner, lessee, or operator of any vehicle that contains a taxable article installs any part or accessory on the vehicle. New york state unemployment tax forms The installation occurs within 6 months after the vehicle is first placed in service. New york state unemployment tax forms   The owners of the trade or business installing the parts or accessories are secondarily liable for the tax. New york state unemployment tax forms   A vehicle is placed in service on the date the owner takes actual possession of the vehicle. New york state unemployment tax forms This date is established by a signed delivery ticket or other comparable document indicating delivery to and acceptance by the owner. New york state unemployment tax forms   The tax does not apply if the installed part or accessory is a replacement part or accessory. New york state unemployment tax forms The tax also does not apply if the total price of the parts and accessories, including installation charges, during the 6-month period is $1,000 or less. New york state unemployment tax forms However, if the total price is more than $1,000, the tax applies to the cost of all parts and accessories (and installation charges) during that period. New york state unemployment tax forms Example. New york state unemployment tax forms You bought a taxable vehicle and placed it in service on April 8. New york state unemployment tax forms On May 3, you bought and installed parts and accessories at a cost of $850. New york state unemployment tax forms On July 15, you bought and installed parts and accessories for $300. New york state unemployment tax forms Tax of $138 (12% of $1,150) applies on July 15. New york state unemployment tax forms Also, tax will apply to any costs of additional parts and accessories installed on the vehicle before October 8. New york state unemployment tax forms First retail sale defined. New york state unemployment tax forms   The sale of an article is treated as the first retail sale, and the seller will be liable for the tax imposed on the sale unless one of the following exceptions applies. New york state unemployment tax forms There has been a prior taxable sale, lease, or use of the article (however, see Tax on resale of tax-paid trailers and semitrailers, later). New york state unemployment tax forms The sale qualifies as a tax-free sale under section 4221 (see Sales exempt from tax, later). New york state unemployment tax forms The seller in good faith accepts from the purchaser a statement signed under penalties of perjury and executed in good faith that the purchaser intends to resell the article or lease it on a long-term basis. New york state unemployment tax forms There is no registration requirement. New york state unemployment tax forms Leases. New york state unemployment tax forms   A long-term lease (a lease with a term of 1 year or more, taking into account options to renew) before a first retail sale is treated as a taxable sale. New york state unemployment tax forms The tax is imposed on the lessor at the time of the lease. New york state unemployment tax forms   A short-term lease (a lease with a term of less than 1 year, taking into account options to renew) before a first retail sale is treated as a taxable use. New york state unemployment tax forms The tax is imposed on the lessor at the time of the lease. New york state unemployment tax forms Exported vehicle. New york state unemployment tax forms   A vehicle exported before its first retail sale, used in a foreign country, and then returned to the United States is subject to the retail tax on its first domestic use or retail sale after importation. New york state unemployment tax forms Tax on resale of tax-paid trailers and semitrailers. New york state unemployment tax forms   The tax applies to a trailer or semitrailer resold within 6 months after having been sold in a taxable sale. New york state unemployment tax forms The seller liable for the tax on the resale can claim a credit equal to the tax paid on the prior taxable sale. New york state unemployment tax forms The credit cannot exceed the tax on the resale. New york state unemployment tax forms See Regulations section 145. New york state unemployment tax forms 4052-1(a)(4) for information on the conditions to allowance for the credit. New york state unemployment tax forms Use treated as sale. New york state unemployment tax forms   If any person uses a taxable article before the first retail sale of the article, that person is liable for the tax as if the article had been sold at retail by that person. New york state unemployment tax forms Figure the tax on the price at which similar articles are sold in the ordinary course of trade by retailers. New york state unemployment tax forms The tax attaches when the use begins. New york state unemployment tax forms   If the seller of an article regularly sells the articles at retail in arm's-length transactions, figure the tax on its use on the lowest established retail price for the articles in effect at the time of the taxable use. New york state unemployment tax forms   If the seller of an article does not regularly sell the articles at retail in arm's-length transactions, a constructive price on which the tax is figured will be determined by the IRS after considering the selling practices and price structures of sellers of similar articles. New york state unemployment tax forms   If a seller of an article incurs liability for tax on the use of the article and later sells or leases the article in a transaction that otherwise would be taxable, liability for tax is not incurred on the later sale or lease. New york state unemployment tax forms Presumptive retail sales price. New york state unemployment tax forms   There are rules to ensure that the tax base of transactions considered to be taxable sales includes either an actual or presumed markup percentage. New york state unemployment tax forms If the person liable for tax is the vehicle's manufacturer, producer, or importer, the following discussions show how you figure the presumptive retail sales price depending on the type of transaction and the persons involved in the transaction. New york state unemployment tax forms Table 6-1 outlines the appropriate tax base calculation for various transactions. New york state unemployment tax forms   The presumed markup percentage to be used for trucks and truck-tractors is 4%. New york state unemployment tax forms But for truck trailers and semitrailers and remanufactured trucks and tractors, the presumed markup percentage is zero. New york state unemployment tax forms Sale. New york state unemployment tax forms   For a taxable sale by a manufacturer, producer, importer, or related person, you generally figure the tax on a tax base of the sales price plus an amount equal to the presumed markup percentage times that sales price. New york state unemployment tax forms Long-term lease. New york state unemployment tax forms   In the case of a long-term lease by a manufacturer, producer, importer, or related person, figure the tax on a tax base of the constructive sales price plus an amount equal to the presumed markup percentage times the constructive sales price. New york state unemployment tax forms Short-term lease. New york state unemployment tax forms   When a manufacturer, producer, importer, or related person leases an article in a short-term lease considered a taxable use, figure the tax on a constructive sales price at which those or similar articles generally are sold in the ordinary course of trade by retailers. New york state unemployment tax forms   But if the lessor in this situation regularly sells articles at retail in arm's-length transactions, figure the tax on the lowest established retail price in effect at the time of the taxable use. New york state unemployment tax forms   If a person other than the manufacturer, producer, importer, or related person leases an article in a short-term lease considered a taxable use, figure the tax on a tax base of the price for which the article was sold to the lessor plus the cost of parts and accessories installed by the lessor and a presumed markup percentage. New york state unemployment tax forms Related person. New york state unemployment tax forms   A related person is any member of the same controlled group as the manufacturer, producer, or importer. New york state unemployment tax forms Do not treat as a related person a person that sells the articles through a permanent retail establishment in the normal course of being a retailer if that person has records to prove the article was sold for a price that included a markup equal to or greater than the presumed markup percentage. New york state unemployment tax forms Table 6-1. New york state unemployment tax forms Tax Base IF the transaction is a. New york state unemployment tax forms . New york state unemployment tax forms . New york state unemployment tax forms THEN figuring the base by using the. New york state unemployment tax forms . New york state unemployment tax forms . New york state unemployment tax forms Sale by the manufacturer, producer, importer, or related person Sales price plus (presumed markup percentage × sales price) Sale by the dealer Total consideration paid for the item including any charges incident to placing it in a condition ready for use Long-term lease by the manufacturer, producer, importer, or related person Constructive sales price plus (presumed markup percentage × constructive sales price) Short-term lease by the manufacturer, producer, importer, or related person Constructive sales price at which such or similar articles are sold Short-term lease by a lessor other than the manufacturer, producer, importer, or related person Price for which the article was sold to the lessor plus the cost of parts and accessories installed by the lessor plus a presumed markup percentage Short-term lease where the articles are regularly sold at arm's length Lowest established retail price in effect at the time of the taxable use General rule for sales by dealers to the consumer. New york state unemployment tax forms   For a taxable sale, other than a long-term lease, by a person other than a manufacturer, producer, importer, or related person, your tax base is the retail sales price as discussed next under Determination of tax base. New york state unemployment tax forms   When you sell an article to the consumer, generally you do not add a presumed markup to the tax base. New york state unemployment tax forms However, you do add a markup if all the following apply. New york state unemployment tax forms You do not perform any significant activities relating to the processing of the sale of a taxable article. New york state unemployment tax forms The main reason for processing the sale through you is to avoid or evade the presumed markup. New york state unemployment tax forms You do not have records proving that the article was sold for a price that included a markup equal to or greater than the presumed markup percentage. New york state unemployment tax forms In these situations, your tax base is the sales price plus an amount equal to the presumed markup percentage times that selling price. New york state unemployment tax forms Determination of tax base. New york state unemployment tax forms   These rules apply to both normal retail sales price and presumptive retail sales price computations. New york state unemployment tax forms To arrive at the tax base, the price is the total consideration paid (including trade-in allowance) for the item and includes any charge incident to placing the article in a condition ready for use. New york state unemployment tax forms However, see Presumptive retail sales price, earlier. New york state unemployment tax forms Exclusions from tax base. New york state unemployment tax forms   Exclude from the tax base the retail excise tax imposed on the sale. New york state unemployment tax forms Exclude any state or local retail sales tax if stated as a separate charge from the price whether the sales tax is imposed on the seller or purchaser. New york state unemployment tax forms Also exclude the value of any used component of the article furnished by the first user of the article. New york state unemployment tax forms   Exclude charges for transportation, delivery, insurance, and installation (other than installation charges for parts and accessories, discussed earlier) and other expenses incurred in connection with the delivery of an article to a purchaser. New york state unemployment tax forms These expenses are those incurred in delivery from the retail dealer to the customer. New york state unemployment tax forms In the case of delivery directly from the manufacturer to the dealer's customer, include the transportation and delivery charges to the extent the charges do not exceed what it would have cost to ship the article to the dealer. New york state unemployment tax forms   Exclude amounts charged for machinery or equipment that does not contribute to the highway transportation function of the vehicle, provided those charges are supported by adequate records. New york state unemployment tax forms For example, for an industrial vacuum loader vehicle, exclude amounts charged for the vacuum pump and hose, filter system, material separator, silencer or muffler, control cabinet, and ladder. New york state unemployment tax forms Similarly, for a sewer cleaning vehicle, exclude amounts charged for the high pressure water pump, hose components, and the vacuum pipe. New york state unemployment tax forms Sales not at arm's length. New york state unemployment tax forms   For any taxable article sold (not at arm's length) at less than the fair market price, figure the excise tax on the price for which similar articles are sold at retail in the ordinary course of trade. New york state unemployment tax forms   A sale is not at arm's length if either of the following apply. New york state unemployment tax forms One of the parties is controlled (in law or in fact) by the other or there is common control, whether or not the control is actually exercised to influence the sales price. New york state unemployment tax forms The sale is made under special arrangements between a seller and a purchaser. New york state unemployment tax forms Installment sales. New york state unemployment tax forms   If the first retail sale is an installment sale, or other form of sale in which the sales price is paid in installments, tax liability arises at the time of the sale. New york state unemployment tax forms The tax is figured on the entire sales price. New york state unemployment tax forms No part of the tax is deferred because the sales price is paid in installments. New york state unemployment tax forms Repairs and modifications. New york state unemployment tax forms   The tax does not apply to the sale or use of an article that has been repaired or modified unless the cost of the repairs and modifications is more than 75% of the retail price of a comparable new article. New york state unemployment tax forms This includes modifications that change the transportation function of an article or restore a wrecked article to a functional condition. New york state unemployment tax forms However, this exception generally does not apply to an article that was not subject to the tax when it was new. New york state unemployment tax forms Further manufacture. New york state unemployment tax forms   The tax does not apply to the use by a person of a taxable article as material in the manufacture or production of, or as a component part of, another article to be manufactured or produced by that person. New york state unemployment tax forms Do not treat a person as engaged in the manufacture of any article merely because that person combines the article with a: Coupling device (including any fifth wheel); Wrecker crane; Loading and unloading equipment (including any crane, hoist, winch, or power liftgate); Aerial ladder or tower; Ice and snow control equipment; Earth moving, excavation, and construction equipment; Spreader; Sleeper cab; Cab shield; or Wood or metal floor. New york state unemployment tax forms Combining an article with an item in this list does not give rise to taxability. New york state unemployment tax forms However, see Parts or accessories discussed earlier. New york state unemployment tax forms Articles exempt from tax. New york state unemployment tax forms   The tax on heavy trucks, trailers, and tractors does not apply to sales of the articles described in the following discussions. New york state unemployment tax forms Rail trailers and rail vans. New york state unemployment tax forms   This is any chassis or body of a trailer or semitrailer designed for use both as a highway vehicle and a railroad car (including any parts and accessories designed primarily for use on and in connection with it). New york state unemployment tax forms Do not treat a piggyback trailer or semitrailer as designed for use as a railroad car. New york state unemployment tax forms Parts and accessories. New york state unemployment tax forms   This is any part or accessory sold separately from the truck or trailer, except as described earlier under Parts or accessories and Separate purchase. New york state unemployment tax forms Trash containers. New york state unemployment tax forms   This is any box, container, receptacle, bin, or similar article that meets all the following conditions. New york state unemployment tax forms It is designed to be used as a trash container. New york state unemployment tax forms It is not designed to carry freight other than trash. New york state unemployment tax forms It is not designed to be permanently mounted on or affixed to a truck chassis or body. New york state unemployment tax forms House trailers. New york state unemployment tax forms   This is any house trailer (regardless of size) suitable for use in connection with either passenger automobiles or trucks. New york state unemployment tax forms Camper coaches or bodies for self-propelled mobile homes. New york state unemployment tax forms   This is any article designed to be mounted or placed on trucks, truck chassis, or automobile chassis and to be used primarily as living quarters or camping accommodations. New york state unemployment tax forms Further, the tax does not apply to chassis specifically designed and constructed to accommodate and transport self-propelled mobile home bodies. New york state unemployment tax forms Farm feed, seed, and fertilizer equipment. New york state unemployment tax forms   This is any body primarily designed to process or prepare, haul, spread, load, or unload feed, seed, or fertilizer to or on farms. New york state unemployment tax forms This exemption applies only to the farm equipment body (and parts and accessories) and not to the chassis upon which the farm equipment is mounted. New york state unemployment tax forms Ambulances and hearses. New york state unemployment tax forms   This is any ambulance, hearse, or combination ambulance-hearse. New york state unemployment tax forms Truck-tractors. New york state unemployment tax forms   This is any truck-tractor specifically designed for use in shifting semitrailers in and around freight yards and freight terminals. New york state unemployment tax forms Concrete mixers. New york state unemployment tax forms   This is any article designed to be placed or mounted on a truck, truck trailer, or semitrailer chassis to be used to process or prepare concrete. New york state unemployment tax forms This exemption does not apply to the chassis on which the article is mounted. New york state unemployment tax forms Sales exempt from tax. New york state unemployment tax forms   The following sales are ordinarily exempt from tax. New york state unemployment tax forms Sales to a state or local government for its exclusive use. New york state unemployment tax forms Sales to Indian tribal governments, but only if the transaction involves the exercise of an essential tribal government function. New york state unemployment tax forms Sales to a nonprofit educational organization for its exclusive use. New york state unemployment tax forms Sales to a qualified blood collector organization (as defined under Communications Tax in chapter 4) for its exclusive use in the collection, storage, or transportation of blood. New york state unemployment tax forms Sales for use by the purchaser for further manufacture of other taxable articles (see below). New york state unemployment tax forms Sales for export or for resale by the purchaser to a second purchaser for export. New york state unemployment tax forms Sales to the United Nations for official use. New york state unemployment tax forms Registration requirement. New york state unemployment tax forms   In general, the seller and buyer must be registered for a sale to be tax free. New york state unemployment tax forms See the Form 637 instructions for more information. New york state unemployment tax forms Certain registration exceptions apply in the case of sales to state and local governments, sales to foreign purchasers for export, and sales for resale or long term leasing. New york state unemployment tax forms Further manufacture. New york state unemployment tax forms   If you buy articles tax free and resell or use them other than in the manufacture of another article, you are liable for the tax on their resale or use just as if you had manufactured and made the first retail sale of them. New york state unemployment tax forms Credits or refunds. New york state unemployment tax forms   A credit or refund (without interest) of the retail tax on the taxable articles described earlier may be allowable if the tax has been paid with respect to an article and, before any other use, such article is used by any person as a component part of another taxable article manufactured or produced. New york state unemployment tax forms The person using the article as a component part is eligible for the credit or refund. New york state unemployment tax forms   A credit or refund is allowable if, before any other use, an article is, by any person: Exported, Used or sold for use as supplies for vessels, Sold to a state or local government for its exclusive use, Sold to a nonprofit educational organization for its exclusive use, or Sold to a qualified blood collector organization (as defined under Communications Tax in chapter 4) for its exclusive use in the collection, storage, or transportation of blood. New york state unemployment tax forms A credit or refund is also allowable if there is a price readjustment by reason of the return or repossession of an article or by reason of a bona fide discount, rebate, or allowance. New york state unemployment tax forms   See also Conditions to allowance in chapter 5. New york state unemployment tax forms Tire credit. New york state unemployment tax forms   A credit is allowed against the retail tax on the taxable articles described earlier if taxable tires are sold on or in connection with the sale of the article. New york state unemployment tax forms The credit is equal to the manufacturers excise tax imposed on the taxable tires (discussed earlier). New york state unemployment tax forms This is the section 4051(d) taxable tire credit and is claimed on Schedule C (Form 720) for the same quarter for which the tax on the heavy vehicle is reported. New york state unemployment tax forms Prev  Up  Next   Home   More Online Publications