Machine-extracted (OCR) from the official document — formatting is approximate; the official copy governs.
Department of Taxation and Finance NEW ST-6 YORK IDA Annual Compliance Report Cag STATE State Sales Tax Recapture For IDA fiscal year ending 12.3124 (mmddyy) Due within 90 days of the end of each fiscal year. IDA information Name of IDA Onondaga County Industrial Development Agency Street address Telephone number 335 Montgomery Street (315 ) 435-3770 City State ZIP code Syracuse NY 13202 Terms and conditions for the recapture of state sales tax exemption benefits for projects established, amended, or extended on or after March 28, 2013 1 Did the IDA provide state sales tax exemption benefits to any project established, amended, or extended during the fiscal year entered ADOVE? oo... ee cece cc cece es eset neteeereteeseseseeeieseaeteteneneneereeeeneeees 1 Yes No L] If Yes, continue below. If No, skip to question 3. 2 When an IDA establishes a project, appoints an agent/project operator, or amends or extends a project established in a prior year, the IDA must include terms and conditions for the recapture of state sales tax exemption benefits in its resolutions and project documents. This applies to all projects established, amended, or extended on or after March 28, 2013 (see instructions).
Did the IDA use the same terms and conditions regarding the recapture of state sales tax So exemption benefits in the project documents for each of its projects (as described above)?............ 2 Yes No C] If Yes, attach a copy of the terms and conditions used. If No, attach a copy of each version used. Be sure to identify the projects to which each version of the terms and conditions relate. If the IDA did not include terms and conditions for the recapture of state sales tax exemption benefits in the project documents, attach a list of these projects (see instructions). Activities and efforts to recapture state sales tax exemption benefits for projects established, amended, or extended on or after March 28, 2013 3 Did the IDA make efforts to recapture any state sales and use tax exemption benefits from an agent, project operator, or other person or entity (see instructions)? ........cccccie cette teeters 3 Yes CJ No If Yes, continue below. If No, skip question 4 and complete the Certification below. 4 Did the IDA file Form ST-65, IDA Report of Recaptured Sales and Use Tax Benefits, for each recapture, and remit the funds to the Tax Department? 0.00.00... cece ete ene enteritis eeiteneeteees 4 Yes OC No C] If Yes, you must keep a copy of Form ST-65 and supporting documentation related to the recapture activities. If No, attach an explanation of the IDA’s recapture efforts (see instructions). Certification
| certify that the above statements are true, complete, and correct, and that no material information has been omitted. | make these statements with the knowledge that willfully providing false or fraudulent information with this document may constitute a felony or other crime under New York State Law, punishable by a substantial fine and possible jail sentence. | also understand that the Tax Department is authorized to investigate the validity of any information entered on this document. Print name of person signing on behalf of the IDA Print title of person signing on behalf of the IDA Robert M. Petrovich Executive Director Signature aan Date Telephone number 03-06-2025 ( 315 ) 435-3770 Mailing instructions Mail completed form and attachments to:
WA HARRIMAN CAMPUS ALBANY NY 12227-0866 If not using U.S. Mail, see Publication 55, Designated Private Delivery Services. Page 2 of2 ST-62 (1/18) Instructions Filing requirements Activities and efforts to recapture state sales tax Every IDA must file this compliance report every year. The exemption benefits report must include: The GML requires that each IDA recapture state sales + the terms and conditions for the recapture of state tax exemption benefits that were claimed by a project sales tax exemption benefits (as described in General operator or agent, or other person or entity, whenever the Municipal Law (GML) section 875(3)) within all of the benefits were: IDA’s resolutions and project documents. This applies * not entitled or authorized to be taken, to: + in excess of the amounts authorized, — projects established and agents or project operators : < ; . * for unauthoriz re r servic appointed, and any financial assistance or agreement or unauthorized property or s es, OF for payments in lieu of taxes provided, on or after * for property or services not used according to the terms March 28, 2013; and of the agreement with the IDA. — any amendment or revision for additional funds or See Form ST-65, IDA Report of Recaptured Sales and benefits made on or after March 28, 2013, to projects Use Tax Benefits, for more information. established, agents or project operators appointed, financial assistance provided, or payments in lieu of taxes provided, prior to March 28, 2013.
+ information about efforts the IDA has made to recover, IDAs must remit recaptured state sales tax benefit amounts to the Tax Department within 30 calendar days, using Form ST-65. recapture, receive, or obtain any state sales tax Line 4: If the IDA made efforts to recapture sales tax exemption benefits and payments in lieu of state sales exemption benefits during the fiscal year covered by taxes from an agent/project operator, or other person or this report and has not filed Form ST-65, attach an entity. explanation. Every IDA must file Form ST-62 within 90 days of the end The attachment must include: of each fiscal year. * name and address of the project and project number; The term state sales tax as used in this form includes both + legal name, EIN, and address of the agent/project state sales tax and the state use tax. operator, or other person or entity; For more information, see TSB-M-14(1.1)S, Sales Tax * project beginning and end dates, Reporting and Recordkeeping Requirements for Industrial + the basis for recapture, as described above; Development Agencies and Authorities. + date of recapture efforts: Any IDA that fails to file or substantially complete this * amounts identified as required to be recaptured, and report may lose its authority to provide state sales tax * amount recaptured, if different. exemption benefits. . ae When identifying recapture amounts, be sure to break
Terms and conditions for the recapture of state down the total dollar amount into the categories below: sales tax exemption benefits * state tax, Line 2 —-If the IDA: * local tax, * used the same standard terms and conditions for the * MCTD tax (if applicable), recapture of state sales tax exemption benefits in the * penalties, and project documents for all projects covered by this report, ; ‘ attach a copy of the terms and conditions used. You are * Interest. not required to attach the entire document. Attach only If the amount recaptured was not paid in full, also include the sections describing the state sales tax recapture copies of correspondence exchanged between the IDA requirements described in GML section 875(3). and the agent/project operator, or other entity or person + used different terms and conditions for the recapture regarding the recapture efforts. of state sales tax exemption benefits in the project documents for the projects covered by this report, Need help? attach a copy of the terms and conditions used and Visit our website at www.tax.ny.gov. identify the project(s) to which they relate. Be sure to include the project name and address, and the legal name and EIN of the agent or project operator for each project identified.
* provided state sales tax exemption benefits but did not include terms and conditions for the recapture of those benefits, attach a list of these projects. Include the project name and address, the legal name and EIN of the agent or project operator, and the reason why terms and conditions regarding recapture were not included. From Onondaga County Industrial Development Agency Handbook Amended February 15, 2024 SectionVI. Recapture of Agency Benefits A. Information to be Provided by Companies. Each Company agrees that to receive benefits from the Agency it must, whenever requested by the Agency or required under applicable statutes or project documents, provide and certify or cause to be provided and certified such information concerning the Company, its finances, its employees and other topics which shall, from time to time, be necessary or appropriate, including but not limited to, such information as to enable the Agency to make any reports required by law or governmental regulation.
B. Recapture of Benefits. It is the policy of the Agency to recapture the value of a PILOT, any sales and use tax exemption, and mortgage recording tax exemption in accordance with the Laws of the State and the provisions contained herein. Before receiving benefits, the Company must attest in writing to its understanding of, and agreement to, the recapture provisions contained in State Law and herein. To the extent permitted by State law, the recapture provisions contained herein may be modified from time to time by the Agency at its sole discretion. Events of Recapture. Events of recapture include, but are not limited to, (i) failure to maintain 75% of the number of full time equivalent jobs a company represents will be maintained or created in connection with its project in the Company’s application to the Agency, (ii) a material violation of one of the project documents, (iii) for a workforce housing project, failure of the designated percentage of units to meet the household income requirements; and (iv) for a senior lifestyle community, failure of the units to be reserved for individuals 55 years or older. In the case of an event of recapture, the value of the property tax, sales and use tax and mortgage recording tax benefits extended to the project by the Agency may be subject to recapture. When deciding whether or not to recapture benefits and the amount of such recapture, the Agency may consider the potential future benefit of the business to the community.
1. Recapture Payment. The recapture payment paid by the Company to the Agency shall be determined (1) by the difference between any PILOT payments made by the Company and the property taxes that would have been paid by the Company if the property were not under the supervision, jurisdiction or control of the Agency, (2) the value of any mortgage recording tax exemption, if awarded to the Company and (3) the amount of sales and use tax that would have been paid if an exemption was not granted. 2. Recapture of the PILOT, Sales and Use Tax or Mortgage Recording Tax. The Recapture Schedule for a Payment in Lieu of Tax Agreement, Sales and Use Tax or the Mortgage Recording Tax is as follows: Time from Project Completion Tax Savings Recaptured 1 Year 80% 2 Years 60% 3 Years 40% 4 Years 20% 5 Years 10% Cc. Distribution of the Recapture Payment. Any funds recaptured as a result of the recapture payment shall be distributed to the affected taxing jurisdictions in the same proportion as if the payments were paid or owed by the Company on the date of recapture. D. A“Full Time Permanent Employee” shall mean 1. A full time, permanent, private sector employee on the Company’s payroll, who has worked at the project location for a minimum of thirty hours per week for not less than four consecutive weeks and who is entitled to receive the usual and customary fringe benefits extended by Company to other employees with comparable rank, duties and hours; or
2. Up to three part time, permanent, private-sector employees on Company’s payroll, who have worked at the project location for a combined minimum of thirty hours per week for not less than four consecutive weeks and who are entitled to receive the usual and customary fringe benefits extended by Company to other employees with comparable rank, duties and hours. E. Additional Conditions Applicable to the Recapture of Sales and Use Tax E Exemption Benefits. 1. Recapture Events. As of April 1, 2013, State law requires industrial development agencies to recapture sales and use tax benefits where: i. A project is not entitled to receive the benefits; ii. Exemptions received exceed the amount authorized by the Agency; ili. Exemptions are claimed by the project for unauthorized property or services; or Onondaga County Industrial Development Agency Handbook Section 7: Statutorily Required Policies Item G: Uniform Tax Exemption Policy iv. A project fails to use the property in the manner required by its Agency agreements. 2. Distribution of Sales and Use Tax. Project operators must cooperate with the Agency in its effort to recapture all sales and use tax benefits received by the Company by promptly paying the recapture amount as determined by the Agency. The amount to be recaptured will be dictated by State Law or this UTEP Policy, which ever may be applicable. The Agency shall remit the recaptured sales and use tax benefits to the State within 30 days of receipt.
3. Compliance Report. Annually, the Agency will file an annual compliance report with the State detailing its recapture terms and its activities to recapture benefits, including the any attempt to recapture benefits from an Agency project.