New York State Rule Making 1/25/12:
NYS Rules 1-25-12
DCarsonCPA.com your Solution Set on CPA and Advisory Services. We connect the line for Financial Decision Making, a line that connects Government, Industry, Businesses, Non Profits and Individuals. For you Accounting, Analysis, Taxes and other needs.
Wednesday, January 25, 2012
Sunday, January 22, 2012
NYS Tax Law § 611 New York taxable Income of a Resident Individual
NYS Laws Article 22 - Personal Income Tax § 611 New York taxable income of a resident individual.
§ 611. New York taxable income of a resident individual. (a) General. The New York taxable income of a resident individual shall be his New York adjusted gross income less his New York deduction and New York exemptions, as determined under this part. (b) Husband and wife. (1) If the federal taxable income of husband or wife, both of whom are residents, is determined on a separate federal return, their New York taxable incomes shall be separately determined. (2) If the federal taxable income of husband and wife, both of whom are residents, is determined on a joint federal return, their New York taxable income shall be determined jointly. (3) If neither husband or wife, both of whom are residents, files a federal return: (A) their tax shall be determined on their joint New York taxable income, or (B) separate taxes may be determined on their separate New York taxable incomes if they both so elect. (4) If either husband or wife is a resident and the other is a nonresident or part-year resident, separate taxes shall be determined on their separate New York taxable incomes unless such husband and wife determine their federal taxable income jointly and both elect to determine their joint New York taxable income as if both were residents.
As of Read Date 1/22/12 ALL NYS TAX Laws subject to change and update and you must confirm as filing or relying.
The New York State Resident Return is the IT-201 (the long form) there is also a short form return, the IT-150.
DCarsonCPA.com your CPA and Advisory Services solution for NYS and NYC Business, Non Profit and Individual needs built on 16 + years Financial Services and General Business expertise. For Accounting, Taxes, Analysis, Advisory, Compliance and more. Working with Businesses and Non Profits of ALL sizes and Individuals. Our role is to support Financial Decision Makers with Accounting and Related expertise.
§ 611. New York taxable income of a resident individual. (a) General. The New York taxable income of a resident individual shall be his New York adjusted gross income less his New York deduction and New York exemptions, as determined under this part. (b) Husband and wife. (1) If the federal taxable income of husband or wife, both of whom are residents, is determined on a separate federal return, their New York taxable incomes shall be separately determined. (2) If the federal taxable income of husband and wife, both of whom are residents, is determined on a joint federal return, their New York taxable income shall be determined jointly. (3) If neither husband or wife, both of whom are residents, files a federal return: (A) their tax shall be determined on their joint New York taxable income, or (B) separate taxes may be determined on their separate New York taxable incomes if they both so elect. (4) If either husband or wife is a resident and the other is a nonresident or part-year resident, separate taxes shall be determined on their separate New York taxable incomes unless such husband and wife determine their federal taxable income jointly and both elect to determine their joint New York taxable income as if both were residents.
As of Read Date 1/22/12 ALL NYS TAX Laws subject to change and update and you must confirm as filing or relying.
The New York State Resident Return is the IT-201 (the long form) there is also a short form return, the IT-150.
DCarsonCPA.com your CPA and Advisory Services solution for NYS and NYC Business, Non Profit and Individual needs built on 16 + years Financial Services and General Business expertise. For Accounting, Taxes, Analysis, Advisory, Compliance and more. Working with Businesses and Non Profits of ALL sizes and Individuals. Our role is to support Financial Decision Makers with Accounting and Related expertise.
Friday, January 20, 2012
NYS Laws / Partnerships - Existence of a Partnership & Partnership Property
New York State Laws / Partnerships:
PTR Partnership / Article 2 - Nature of a Partnership
Existence of a Partnership:
§ 11. Rules for determining the existence of a partnership. In
determining whether a partnership exists, these rules shall apply:
1. Except as provided by section twenty-seven persons who are not
partners as to each other are not partners as to third persons.
2. Joint tenancy, tenancy in common, tenancy by the entireties, joint
property, common property, or part ownership does not of itself
establish a partnership, whether such co-owners do or do not share any
profits made by the use of the property.
3. The sharing of gross returns does not of itself establish a
partnership, whether or not the persons sharing them have a joint or
common right or interest in any property from which the returns are
derived.
4. The receipt by a person of a share of the profits of a business is
prima facie evidence that he is a partner in the business, but no such
inference shall be drawn if such profits were received in payment:
(a) As a debt by installments or otherwise,
(b) As wages of an employee or rent to a landlord,
(c) As an annuity to a surviving spouse or representative of a
deceased partner,
(d) As interest on a loan, though the amount of payment vary with the
profits of the business,
(e) As the consideration for the sale of the good-will of a business
or other property by installments or otherwise.
Partnership Property:
§ 12. Partnership property. 1. All property originally brought into
the partnership stock or subsequently acquired, by purchase or
otherwise, on account of the partnership is partnership property.
2. Unless the contrary intention appears, property acquired with
partnership funds is partnership property.
3. Any estate in real property may be acquired in the partnership
name. Title so acquired can be conveyed only in the partnership name.
4. A conveyance to a partnership in the partnership name, though
without words of inheritance, passes the entire estate of the grantor
unless a contrary intent appears.
Note: Citation as of Read Date 1/20/12 - ALL NYS Laws must be confirmed for current validity as relying or implementing and are best covered with the support of an Attorney. That Stated the Accounting Basis of Partnerships is rooted in Tax and other Laws so it is helpful to understand the Legal Basis Definition of a Partnership as generally defined starting point for Partnership Accounting.
DCarsonCPA.com here to support NYS and NYC Businesses, Non Profits, and Individuals - we connect to the Rules that bring structure to Financials and Compliance, State and Local Taxation and the established standards of US GAAP and other authoritative basis of Accounting (Regulatory et. al.).
PTR Partnership / Article 2 - Nature of a Partnership
Existence of a Partnership:
§ 11. Rules for determining the existence of a partnership. In
determining whether a partnership exists, these rules shall apply:
1. Except as provided by section twenty-seven persons who are not
partners as to each other are not partners as to third persons.
2. Joint tenancy, tenancy in common, tenancy by the entireties, joint
property, common property, or part ownership does not of itself
establish a partnership, whether such co-owners do or do not share any
profits made by the use of the property.
3. The sharing of gross returns does not of itself establish a
partnership, whether or not the persons sharing them have a joint or
common right or interest in any property from which the returns are
derived.
4. The receipt by a person of a share of the profits of a business is
prima facie evidence that he is a partner in the business, but no such
inference shall be drawn if such profits were received in payment:
(a) As a debt by installments or otherwise,
(b) As wages of an employee or rent to a landlord,
(c) As an annuity to a surviving spouse or representative of a
deceased partner,
(d) As interest on a loan, though the amount of payment vary with the
profits of the business,
(e) As the consideration for the sale of the good-will of a business
or other property by installments or otherwise.
Partnership Property:
§ 12. Partnership property. 1. All property originally brought into
the partnership stock or subsequently acquired, by purchase or
otherwise, on account of the partnership is partnership property.
2. Unless the contrary intention appears, property acquired with
partnership funds is partnership property.
3. Any estate in real property may be acquired in the partnership
name. Title so acquired can be conveyed only in the partnership name.
4. A conveyance to a partnership in the partnership name, though
without words of inheritance, passes the entire estate of the grantor
unless a contrary intent appears.
Note: Citation as of Read Date 1/20/12 - ALL NYS Laws must be confirmed for current validity as relying or implementing and are best covered with the support of an Attorney. That Stated the Accounting Basis of Partnerships is rooted in Tax and other Laws so it is helpful to understand the Legal Basis Definition of a Partnership as generally defined starting point for Partnership Accounting.
DCarsonCPA.com here to support NYS and NYC Businesses, Non Profits, and Individuals - we connect to the Rules that bring structure to Financials and Compliance, State and Local Taxation and the established standards of US GAAP and other authoritative basis of Accounting (Regulatory et. al.).
Tuesday, January 17, 2012
New NYS Rules and Notices week ended 1/18/12
Updates for Week Ended 1/18/12 form New York State:
1-18-12
DCarsonCPA.com meeting Clients at the Intersection of Government, Industry, Business, Non Profit and Individual Financials for CPA Services and Advisory needs. We work smart with broad ranging research that provides you greater ability to manage your financials and related interests in Taxation and Governance.
1-18-12
DCarsonCPA.com meeting Clients at the Intersection of Government, Industry, Business, Non Profit and Individual Financials for CPA Services and Advisory needs. We work smart with broad ranging research that provides you greater ability to manage your financials and related interests in Taxation and Governance.
Wednesday, January 11, 2012
NYS Rules 1-12-12
Keeping up to date with the Executive Branch, Departments and Agencies in New York State:
NYS Rules for week ended 1-12-12
NYS Rules 1-11-12
DCarsonCPA.com connecting the Line on Decision Making based on Financials. A line that connects Government, Industry, Business, Non Profits and Individuals. Where knowledge adds value to your business operations and you value the art of compliance DCarsonCPA.com we are here to support your needs on Accounting, Financials, Analysis, Taxes and more. We use the broad skill set, research and networks to be a value added Business Partner, a solution set for Clients.
NYS Rules for week ended 1-12-12
NYS Rules 1-11-12
DCarsonCPA.com connecting the Line on Decision Making based on Financials. A line that connects Government, Industry, Business, Non Profits and Individuals. Where knowledge adds value to your business operations and you value the art of compliance DCarsonCPA.com we are here to support your needs on Accounting, Financials, Analysis, Taxes and more. We use the broad skill set, research and networks to be a value added Business Partner, a solution set for Clients.
Saturday, January 7, 2012
NYS Executive Branch Rule Making 1-4-12
Keeping current with NYS Executive Branch Updates at 1-4-12:
Checking in with NYS Rulemaking for 2012 updates- Happy New Year 2012! in a light edition format.
1-4-12 NYS Rules
Checking in with NYS Rulemaking for 2012 updates- Happy New Year 2012! in a light edition format.
1-4-12 NYS Rules
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