Form Tc201 - Instructions For 2000
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2THE TAX COMMISSION OF THE CITY OF NEW YORK
1 Centre Street, Room 936, New York, NY 10007
TC201INS
2000
INCOME AND EXPENSE SCHEDULE
FOR RENT PRODUCING PROPERTIES
FORM TC201 INSTRUCTIONS FOR 2000
Attachment to application. The income and expense
application to be eligible for review under governing law
schedule is an attachment to an application for
must complete Part 4 of TC201.
Attach it to the
correction or supplemental application. It is not valid if
application, or Form TC150, or submit it at the hearing.
submitted separately.
Applications on Form TC101,
TC105, TC106 or TC109 must be filed by March 1,
What income and expenses are to be reported.
2000.
Report all income received or accrued by the applicant
or related persons in connection with the property.
Supplemental applications and affidavits.
For
Report only actual operating expenses. Do not report
properties assessed for $750,000 or more and for
projections or reserves. Do not report payments to
recently acquired properties, if a required schedule of
related persons as expenses, except reimbursement of
income and expenses was not available in time for
amounts actually spent on building operations. Income
attachment to the original application form, it may be
from related persons must be segregated from other
attached to Form TC150 and filed between March 2 and
income and listed only on line i of Part 6. Income from
March 24. Form TC159 may be used at a hearing to
exterior installations, signage, or telecommunications
answer questions in Parts 3 and 4 which were missing or
equipment should be reported on line g of Part 6.
incomplete on the originally submitted schedule. Also
use TC159 in connection with requests for permission to
Supplemental information.
It is often advisable to
supplement answers in other instances at the hearing.
supplement the income and expense schedule. Copies
of leases or abstracts, a rent roll, and itemizations of
Who should use this form. Use Form TC201 to report
expenses may be useful. Supplementation is especially
income and expenses from operation of a rental
useful when there was no prior filing, there is a single
property. For example, an apartment building or a multi-
major tenant, there is a substantial change in the income
tenant commercial building. If the applicant leases the
or expenses from the prior year, or the building has
entire property to an unrelated person, report the income
unusual operating characteristics, for example, a larger
and expenses on this form. For example, a vacant lot
than usual building staff.
leased to a parking operator or a store building leased to
a single tenant. Net lessors may use Form TC200
Reporting year. A report covering the full calendar year
instead of TC201.
ending on December 31, 1999, or full fiscal year ending
after July 31, 1999, is considered to be a current
Do not use this form for a cooperative or hotel, or for a
statement. In many cases the Tax Commission requires
property that has income only from tenants related to the
a current statement. Only a current statement satisfies
applicant or only from operation of a business such as a
Department of Finance RPIE requirements.
public parking garage.
If the applicant uses a fiscal year for federal income tax
TC201 Part 4 information. Nonresidential occupancy
purposes, the schedule may report income for the most
information may be reported line by line separately for
recently ended fiscal year, as a date six months prior to
specified floors or for the building as a whole. If reported
the date the application is filed.
separately line by line, each line totals 100% for the
space on the floor(s). If reported as a whole, the area of
If
a
current
statement
is
unavailable,
the
Tax
each floor is a portion of the entire building area, and the
Commission will accept a statement for the calendar
sum of the floor-by-floor subtotals in the right hand
year ending December 31, 1998, but only if the applicant
column equals 100% of the entire building area.
operated the property for all of 1998, does not use a
fiscal year for federal income tax, and the 2000/01 actual
TC201 Part 4 information for certain applicants not
assessment is less than $750,000.
otherwise required to report rental income and
expenses.
An applicant who owned an income-
The form has space for figures for the year prior to the
producing property before January 1, 2000, which is
reporting year.
The Tax Commission requests that
rented or offered for rent on January 5, 2000, but who is
applicants provide this information, if available for the full
year prior to the most current year.
not required to report income and expenses for an
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