MTA Audited Financials for 2010 and 2Q11 Financial Review

During a Round of Public Hearings (earlier this year) for the MTA considering fair hikes we wanted to consider with you MTA Financials and planned for a later time to return and do so, this seemed like a good time to check back in on this.

Most of us have an up and down relationship with Public Transportation which at it's optimal performance can help us efficiently move, save resources, and better connect in the Urban Environment. Like any large organization there is always room for continued improvement and the interaction of an interested audience can go a long way in helping the MTA more efficiently reach its service goal to better transport us all with efficiency.

A solid starting point for considering MTA Finances is realizing the Federal, State and Local Funding are components of supporting the MTA in addition to the Fares we pay - it is a subsidized service, but like any Organization the process is likely to work with more efficiency in meeting it's goal when we pay attention to Financials, Budgets and Plans and consider ways we can help to be more interactively involved. The questions you've had, the solutions you've considered can all help to bring more efficiency to MTA operations and it's in your hands to better connect with the Government and MTA leadership to communicate the ways we can all assist in improving MTA and supporting Fiscally Responsible Financial Management and Operational Efficiency in Public Transit.

To this end in learning more about MTA Operations it's a great start to read Financials to see where Operations and Efficiency Meet or may need additional assistance.

We share with you Audited 2010 MTA Financials and 2Q11 Reviewed MTA Financials, as you review them it is helpful to understand that Audited Financials delivered by CPAs provide a higher degree of reliability than Review. Audited Financials have met the higher benchmark of Reasonable Assurance from a CPA, that those Audited Financials are Free from Material Misstatements, Errors, Omissions or other defects (it is not a Guarantee). Reviewed Financials are subject to a substantially lesser CPA review process based on observational and analytical analysis. Given the choice you should always focus more on the Audited Financials that meet the greater standard.  You can better follow the difference between an Audit and Review by reading and contrasting the wordings in Each CPA Report below to better follow what an Audit or a Review is or is not. To help you find them below they are called the Independent Auditors Report and the Independent Accountants Review Report  respectively and are signed by the CPA Firm in the Documents below.


See also DCarsonCPA The Empire Line for info on MTA Budgets 2012 - 2015: http://dcarsoncpa-theempireline.blogspot.com/2011/11/nys-ct-mta-financial-plan-2012-2015.html


MTA_Q2_ReviewReport






NYS MTA Audited Consolidated 2010 Financials

Checking in with NYC Government at 11/7/11

At the Mayors Office:

Mayor Bloomberg, Speaker Quinn, Housing Commissioner Wambua and Gotham Organization Break Ground On Largest New Construction Project in Manhattan Under City's Housing http://www.nyc.gov/portal/site/nycgov/menuitem.c0935b9a57bb4ef3daf2f1c701c789a0/index.jsp?pageID=mayor_press_release&catID=1194&doc_name=http%3A%2F%2Fwww.nyc.gov%2Fhtml%2Fom%2Fhtml%2F2011b%2Fpr397-11.html&cc=unused1978&rc=1194&ndi=1

Mayor Bloomberg Convenes International Summit On Business Innovation, Entrepreneurship and Job Creation Sponsored by New York City Global Partners at Columbia University http://www.nyc.gov/portal/site/nycgov/menuitem.c0935b9a57bb4ef3daf2f1c701c789a0/index.jsp?pageID=mayor_press_release&catID=1194&doc_name=http%3A%2F%2Fwww.nyc.gov%2Fhtml%2Fom%2Fhtml%2F2011b%2Fpr392-11.html&cc=unused1978&rc=1194&ndi=1

Mayors Office: http://www.nyc.gov/portal/site/nycgov/menuitem.beb0d8fdaa9e1607a62fa24601c789a0/


Mayoral & City Agencies  http://www.nyc.gov/portal/site/nycgov/menuitem.db6d44f040275edd6bce0ed101c789a0


NYC Comptrollers Office:

COMPTROLLER LIU ISSUES NEW YORK CITY’S COMPREHENSIVE
ANNUAL FINANCIAL REPORT FOR FISCAL YEAR 2011 http://comptroller.nyc.gov/press/2011_releases/pr11-11-084.shtm


The CAFR of NYC for 2011 has not been posted online yet since it is still in Draft Version and it will be several more months for the Final CAFR for 2011 report to be available in Final Version as per Comptrollers Office. The CAFR is the Comprehensive Annual Financial Report of NYC - the Financials of Our City.

New York State published it's 3/31/11 CAFR  in support of Transparency and you can find it here:

http://www.osc.state.ny.us/finance/finreports/cafr11.pdf


As we understand it currently these are the June 30, 2010 NYC Financials :

http://www.comptroller.nyc.gov/bureaus/acc/cafr-pdf/cafr2010.pdf

The 2011 NYC CAFR will be made available when it reaches it's final version in a few months per NYC Comptrollers. In a point of observation since Annual Financials are historical documents timelines are important for consituents knowledge of NYC Government. At present the Financials which are dated 6/30/11 appear to be on a 6 Month turnaround timeline for Annual Financials resulting in what would be from a Corporate view point stale data for analysis purposes.

If you have been following with us, you know that we care about Federal, State and Local Financials and value timely data for Decision Makers.

A Goal for a Improvements:
From the outside looking in, there appears to be a good opportunity for reengineering timelines on NYC Financials. If there is a background process that is holding up NYC Financials, that process should be rengineered. Timely Financials for NYC help NYC voters, the constituents of NYC to be better connected to and aware of City Financials complete with Challenges and Opportunitities for improvement.

As a point of Comparison Our Federal Government issues Federal Financials on 9/30/11 and GAO has 45 days to issue a report thereafter. While the Federal Government has greater resources, NYC Financials are also very important and warrant a tight timeline to issuance.

We care about NYC and part of being better connected to government is being able to connect with the financials on a timely basis to consider decisions in Public Finance, this is important for ALL NYC Residents.


At City Council (the NYC Legislative Branch):

COUNCIL VOTES TO INCREASE COMMUNITY BOARD INPUT ON BICYCLE LANES INSTALLATION http://council.nyc.gov/html/releases/110311stated.shtml

Speaker Quinn Outlines Nine Point Job Creation Strategy http://council.nyc.gov/html/releases/101811abny.shtml


About City Council http://council.nyc.gov/html/about/about.shtml


NYC Judicial Branch:

New York State Unified Courts

Still reviewing - will update in the near term....

NYC Elections Board - Becoming A Candidate

Most of us have some insights to things we'd like to fix in areas of City Government, few will ultimately take that step to enter the arena to make a difference by actually making a run for a political office in New York City. If you are inclined to run for office, the NYC Board of Elections has provided this how to guide on how to get there from NYS:

http://www.vote.nyc.ny.us/candidates.html (NYS Board of Elections)

In the interest of sharing information that you may find important we are sharing it for you here.

The Next Link is to the NYC Board of Elections for more General information http://www.vote.nyc.ny.us/.

IRC Federal Taxation of Rents and Royalties, Real Estate, Rentals and Authors.

The Borough Lines is primarily Focused on New York City and related Governance, but since Rentals and Royalties can be very relevant to New York City Residents we are bringing in a brief view of IRS Tax law pertaining to Rent and Royalties from the IRC.

§ 1.61-8   Rents and royalties.

(a) In general. Gross income includes rentals received or accrued for the occupancy of real estate or the use of personal property. For the inclusion of rents in income for the purpose of the retirement income credit, see section 37 and the regulations thereunder. Gross income includes royalties. Royalties may be received from books, stories, plays, copyrights, trademarks, formulas, patents, and from the exploitation of natural resources, such as coal, gas, oil, copper, or timber. Payments received as a result of the transfer of patent rights may under some circumstances constitute capital gain instead of ordinary income. See section 1235 and the regulations thereunder. For special rules for certain income from natural resources, see Subchapter I (section 611 and following), Chapter 1 of the Code, and the regulations thereunder.

(b) Advance rentals; cancellation payments. Except as provided in section 467 and the regulations thereunder and except as otherwise provided by the Commissioner in published guidance (see §601.601(d)(2) of this chapter), gross income includes advance rentals, which must be included in income for the year of receipt regardless of the period covered or the method of accounting employed by the taxpayer. An amount received by a lessor from a lessee for cancelling a lease constitutes gross income for the year in which it is received, since it is essentially a substitute for rental payments. As to amounts received by a lessee for the cancellation of a lease, see section 1241 and the regulations thereunder.

(c) Expenditures by lessee. As a general rule, if a lessee pays any of the expenses of his lessor such payments are additional rental income of the lessor. If a lessee places improvements on real estate which constitute, in whole or in part, a substitute for rent, such improvements constitute rental income to the lessor. Whether or not improvements made by a lessee result in rental income to the lessor in a particular case depends upon the intention of the parties, which may be indicated either by the terms of the lease or by the surrounding circumstances. For the exclusion from gross income of income (other than rent) derived by a lessor of real property on the termination of a lease, representing the value of such property attributable to buildings erected or other improvements made by a lessee, see section 109 and the regulations thereunder. For the exclusion from gross income of a lessor corporation of certain of its income taxes on rental income paid by a lessee corporation under a lease entered into before January 1, 1954, see section 110 and the regulations thereunder.

[T.D. 6500, 25 FR 11402, Nov. 26, 1960; 25 FR 14021, Dec. 31, 1960, as amended by T.D. 8820, 64 FR 26851, May 18, 1999; T.D. 9135, 69 FR 41192, July 8, 2004]

As of Read Date 10/30/11 - ALL US TAX Laws are subject to change and update and you must review as filing your return and reporting for Tax Purposes.

DCarsonCPA.com is the web presence of Dean T. Carson II, CPA an NYC Based Traditional and Strategic CPA Practice working to better connect the line between Government, Industry, Business and Individual Financial Decision Maker and here to assist on your Accounting, Tax, Advisory, Operations, Analysis, Research , and other needs. We use our skills in Financials and Accounting to connect and support Financial Decision Makers. Learn more at http://www.dcarsoncpa.com/ or e-mail us at info@dcarsoncpa.com .

A Top Side Look at NYC Politics - Thought Groups / Think Tanks, Lobbies, PACs and more.

NYC is a complicated City of 8 + Million Residents and an under counted Populace in Queens that will hurt us for years to come on the US Census. As a CPA Practice our expertise is not really about Lobbying or Political Action although we would certainly use our understanding to support Client interests if we see place where Clients from the Business, Non Profit or Individual Sector are being hurt by policies.

Our overall Focus is non-partisan research to present information and let you decide, and the human acknowledgement that there may be the occasional times where we are compelled to speak out from an angle of what we believe to be a centrist view point.  It's not an easy role to stand for principles so we appreciate that the role of Legislators and elected officials is a challenging one. In Our case a fair role that we fit would most likely be to facilitate communication between financial and community decision makers. You'll have to know that we come from a Family that is half Medicine, Altruism and Social Good and Half Strict business so we probably land centrist in view points. But wherever we land it's about bringing something better - it's about how we work together to build a better future for the Economy and the Community.

Our goal is to better connect the line between Government, Business, Non Profit and Individual Financial Decision Makers and to be well versed in the points for ALL where your business meets Regulations and potentially opportunities interfacing with Government - ie Grants for Non Profits, RFPs for Business, Knowledge of Law for Businesses and how Individuals can better connect to services that support needs. It's similar to the Banking Service Model where we are trying to be broad based in knowledge so that for any client need we meet we can be here for you with a Solution Set of Opportunities whether your role is Financial Decision Making in Government, Industry, Businesses, Non Profits of Individual Roles.

We start to leave this analysis with a look at some resources:

Manhattan Institute - Conservative Think Tank, provided ideas for the Giuliani Administration in reforming New York in some areas.

Still researching on other competing thought groups for more open ideas to represent in balance opinion groups, and will update here as soon as we find it (if you know the groups you are invited to tell us so we can update). In the weeks ahead we will be working to back fill this.

PACs:

PACs are Political Action Committees that are funded to lead Legislative Causes that can influence the Rules and Laws we all live with so it is best to be aware of how causes work and to understand for better or worse how these causes interact with your own needs. Knowledge of PACs can help you be more effective in supporting the needs of your Family, your Non Profit or Business Cause through Elections and related Decision Making activities that ultimately impact Family Finances.

Courtesy of NYS information about PACS http://www.elections.state.ny.us/PAC.html

 Courtesy NYC Campaign Finance Board http://www.nyccfb.info/reports/pclt_13.htm?sm=press_pacList

New York City Lobbying Group Registration:

NYC Lobbying Bureau at the City Clerks Office. A Comprehensive resource on registered Lobbyists including Laws regulating Lobbying in NYC.

2011 List - All NYC Lobbying Organizations http://www.nyc.gov/lobbyistsearch/directory.jsp
search by year to find Lobbyists - a brief overview exhibits a cross section of Businesses and Non Profits, Unions, Healthcare and more.

NYC Lobbying Group Registration provides a good research Start Point to back fill research on Lobbying Groups that are at work in NYC and to understand their interests and causes.

A Resource for learning more in general at the Federal Level and I have seen some NYC lobbying listed there is:

OpenSecrets.org this is their own information on who OpenSecrets.org is:

Our Mission: Inform, Empower & Advocate

The Center for Responsive Politics is the nation's premier research group tracking money in U.S. politics and its effect on elections and public policy. Nonpartisan, independent and nonprofit, the organization aims to create a more educated voter, an involved citizenry and a more transparent and responsive government. In short, the Center's mission is to:

• Inform citizens about how money in politics affects their lives
• Empower voters and activists by providing unbiased information
• Advocate for a transparent and responsive government

We pursue our mission largely through our award-winning website, OpenSecrets.org, which is the most comprehensive resource for federal campaign contributions, lobbying data and analysis available anywhere. And for other organizations and news media, the Center's exclusive data powers their online features tracking money in politics — counting cash to make change.

Our General View Point is that it's important to understand the full cross section of how government works and it's no secret that Lobbying is part of the process. In Fact one of the great challenges in Government at Large is the Balancing of citizens interests with  the interests of better financed groups. It's an important issue of balance because the interests that most need protection are the rights of individuals who may in fact may have less money and less representation in their needs. In Some ways this is the important role Non Profits can fill to help.

Since we are not experts in this area we are leaving this piece in an open status and are interested in your productive additions to knowledge here. As we receive feedback from our request for help on this article we will update here or in future articles,

DCarsonCPA.com is the web presence of Dean T. Carson II, CPA here for you on Accounting, Taxes, Advisory, Consulting, Operations and more. Supporting the better connection of Government, Industry, Business, Non Profit and Individual Financial Decision Making and occasionally looking at Quality of Life issues that ultimately impact us all. We care about your Finances, Our Families, the Economy and the Nations Future on all of the levels where we can help through better connecting Local, State, and National Financial Decision Making Information. Learn more about services at www.dcarsoncpa.com or reach us at info@dcarsoncpa.com .

NYS Article 28 - Sales Taxes § 1105 Imposition of Sales Tax

§ 1105. Imposition of sales tax. On and after June first, nineteen hundred seventy-one, there is hereby imposed and there shall be paid a tax of four percent upon: (a) The receipts from every retail sale of tangible personal property, except as otherwise provided in this article. (b) (1) The receipts from every sale, other than sales for resale, of the following: (A) gas, electricity, refrigeration and steam, and gas, electric, refrigeration and steam service of whatever nature; (B) telephony and telegraphy and telephone and telegraph service of whatever nature except interstate and international telephony and telegraphy and telephone and telegraph service and except any telecommunications service the receipts from the sale of which are subject to tax under paragraph two of this subdivision; (C) a telephone answering service; and (D) a prepaid telephone calling service. (2) The receipts from every sale of mobile telecommunications service provided by a home service provider, other than sales for resale, that are voice services, or any other services that are taxable under subparagraph (B) of paragraph one of this subdivision, sold for a fixed periodic charge (not separately stated), whether or not sold with other services. (3) The tax imposed pursuant to this subdivision is imposed on receipts from charges for intrastate mobile telecommunications service of whatever nature in any state if the mobile telecommunications customer's place of primary use is in this state. (4) (A) For the purpose of subparagraph (B) of paragraph one of this subdivision, receipts from the sale of telephony or telephone service constituting the actual delivery of telephony or telephone service under a prepaid telephone calling service (for instance, when the receipt is represented by a debit to a prepaid account) shall be excluded from the receipts subject to tax under such subparagraph; and (B) for purposes of subparagraph (B) of paragraph one and paragraph two of this subdivision, a particular sale of telephony or telephone service to a vendor that resells such telephony or telephone service as a component of a prepaid telephone calling service shall be deemed a sale for resale of telephony or telegraph service. (c) The receipts from every sale, except for resale, of the following services: * (1) The furnishing of information by printed, mimeographed or multigraphed matter or by duplicating written or printed matter in any other manner, including the services of collecting, compiling or analyzing information of any kind or nature and furnishing reports thereof to other persons, but excluding the furnishing of information which is personal or individual in nature and which is not or may not be substantially incorporated in reports furnished to other persons, and excluding the services of advertising or other agents, or other persons acting in a representative capacity, and information services used by newspapers, radio broadcasters and television broadcasters in the collection and dissemination of news, and excluding meteorological services. * NB Effective until March 1, 2012 * (1) The furnishing of information by printed, mimeographed or multigraphed matter or by duplicating written or printed matter in any other manner, including the services of collecting, compiling or analyzing information of any kind or nature and furnishing reports thereof to other persons, but excluding the furnishing of information which is personal or individual in nature and which is not or may not be substantially incorporated in reports furnished to other persons, and excluding the services of advertising or other agents, or other persons acting in a representative capacity, and information services used by newspapers, electronic news services, radio broadcasters and television broadcasters in the collection and dissemination of news, and excluding meteorological services. * NB Effective March 1, 2012 (2) Producing, fabricating, processing, printing or imprinting tangible personal property, performed for a person who directly or indirectly furnishes the tangible personal property, not purchased by him for resale, upon which services are performed. (3) Installing tangible personal property, excluding a mobile home, or maintaining, servicing or repairing tangible personal property, including a mobile home, not held for sale in the regular course of business, whether or not the services are performed directly or by means of coin-operated equipment or by any other means, and whether or not any tangible personal property is transferred in conjunction therewith, except: (i) such services rendered by an individual who is engaged directly by a private home owner or lessee in or about his residence and who is not in a regular trade or business offering his services to the public; and (ii) any receipts from laundering, dry-cleaning, tailoring, weaving, pressing, shoe repairing and shoe shining; and (iii) for installing property which, when installed, will constitute an addition or capital improvement to real property, property or land, as the terms real property, property or land are defined in the real property tax law as such term capital improvement is defined in paragraph nine of subdivision (b) of section eleven hundred one of this chapter; and (iv) such services rendered with respect to commercial vessels and property used by or purchased for the use of such vessels, as such vessels and property are specified in paragraph eight of subdivision (a) of section eleven hundred fifteen of this article; and (v) such services rendered with respect to commercial aircraft, machinery or equipment and property used by or purchased for the use of such aircraft as such aircraft, machinery or equipment, and property are specified in paragraph twenty-one of subdivision (a) of section eleven hundred fifteen of this article; and (vi) such services rendered with respect to tangible personal property for use or consumption predominantly either in the production for sale of tangible personal property by farming or in a commercial horse boarding operation, or in both, as such tangible personal property is specified in paragraph six of subdivision (a) of section eleven hundred fifteen of this article. (vii) such services rendered with respect to fishing vessels and property used by or purchased for such vessels as such vessels are specified in paragraph twenty-four of subdivision (a) of section eleven hundred fifteen of this article. (viii) such services rendered with respect to railroad rolling stock primarily engaged in carrying freight in intrastate, interstate or foreign commerce, but not including any charge for parts or other tangible personal property whether such property has become a physical component part of the property upon which the services are performed or has been transferred to the purchaser of the services in conjunction with the performance of the services subject to the tax. (ix) such services rendered with respect to tangible property used or consumed directly and predominantly in the production for sale of gas or oil by manufacturing, processing, generating, assembling, refining, mining, or extracting.

    (x) such services rendered with respect to property described in paragraph twelve-a of subdivision (a) of section eleven hundred fifteen of this article. * (xi) Such services rendered with respect to property described in paragraph twelve-b of section eleven hundred fifteen of this article. * NB Expired September 1, 2003 Provided, however, that nothing contained in this paragraph three shall be construed to exclude from tax under this paragraph or under subdivision (b) of this section any charge, made by a person furnishing service subject to tax under subdivision (b) of this section, for installing property at the premises of a purchaser of such a taxable service for use in connection with such service. (4) Storing all tangible personal property not held for sale in the regular course of business and the rental of safe deposit boxes or similar space. (5) Maintaining, servicing or repairing real property, property or land, as such terms are defined in the real property tax law, whether the services are performed in or outside of a building, as distinguished from adding to or improving such real property, property or land, by a capital improvement as such term capital improvement is defined in paragraph nine of subdivision (b) of section eleven hundred one of this article, but excluding (i) services rendered by an individual who is not in a regular trade or business offering his services to the public, (ii) services rendered directly with respect to real property, property or land used or consumed directly and predominantly in the production for sale of gas or oil by manufacturing, processing, generating, assembling, refining, mining, or extracting, (iii) services rendered with respect to real property, property or land used or consumed predominantly either in the production of tangible personal property, for sale, by farming or in a commercial horse boarding operation, or in both and (iv) services of removal of waste material from a facility regulated as a transfer station or construction and demolition debris processing facility by the department of environmental conservation, provided that the waste material to be removed was not generated by the facility. (6) Providing parking, garaging or storing for motor vehicles by persons operating a garage (other than a garage which is part of premises occupied solely as a private one or two family dwelling), parking lot or other place of business engaged in providing parking, garaging or storing for motor vehicles provided, however, this paragraph shall not apply to such facilities owned and operated by a public corporation, as defined by section sixty-six of the general construction law, other than a public benefit corporation, as defined by such section sixty-six, created by interstate compact or at least half of whose members are appointed by the governor, or any agency or instrumentality of a municipal corporation or district corporation as defined by such section sixty-six. Provided, however, receipts for such services paid to a homeowner's association by its members or receipts paid by members of a homeowner's association to a person leasing the parking facility from the homeowner's association shall not be subject to the tax imposed by this paragraph. For purposes of this paragraph, a homeowner's association is an association (including a cooperative housing or apartment corporation) (i) the membership of which is comprised exclusively of owners or residents of residential dwelling units, including owners of units in a condominium, and including shareholders in a cooperative housing or apartment corporation, where such units are located in a defined geographical area such as a housing development or subdivision and (ii) which owns or operates a garage, parking lot or other place of business engaged in providing parking, garaging or   storing for motor vehicles located in such area for use (whether or not exclusive) by such owners or residents. (7) Interior decorating and designing services, (whether or not in conjunction with the sale of tangible personal property), by whomsoever performed, including interior decorators and designers, architects or engineers; notwithstanding the foregoing, such services shall not include services which consist of the practice of architecture, as defined in section seventy-three hundred one of the education law, or the practice of engineering, as defined in section seventy-two hundred one of the education law, if the services are performed by an architect or engineer having a license or permit under the education law. (8) Protective and detective services, including, but not limited to, all services provided by or through alarm or protective systems of every nature, including, but not limited to, protection against burglary, theft, fire, water damage or any malfunction of industrial processes or any other malfunction of or damage to property or injury to persons, detective agencies, armored car services and guard, patrol and watchman services of every nature other than the performance of such services by a port watchman licensed by the waterfront commission of New York harbor, whether or not tangible personal property is transferred in conjunction therewith. (9) (i) The furnishing or provision of an entertainment service or of an information service (but not an information service subject to tax under paragraph one of this subdivision), which is furnished, provided, or delivered by means of telephony or telegraphy or telephone or telegraph service (whether intrastate or interstate) of whatever nature, such as entertainment or information services provided through 800 or 900 numbers or mass announcement services or interactive information network services. Provided, however, that in no event (i) shall the furnishing or provision of an information service be taxed under this paragraph unless it would otherwise be subject to taxation under paragraph one of this subdivision if it were furnished by printed, mimeographed or multigraphed matter or by duplicating written or printed matter in any other manner nor (ii) shall the provision of cable television service to customers be taxed under this paragraph. (ii) Notwithstanding the rate and date set forth in the opening undesignated paragraph of this section and notwithstanding the opening undesignated paragraph of this subdivision, on and after September first, nineteen hundred ninety-three, in addition to any other tax imposed under this section, and in addition to any other tax or fee imposed under any other provision of law, there is hereby imposed and there shall be paid an additional tax at the rate of five percent upon the receipts which are subject to tax under subparagraph (i) of this paragraph on the furnishing or provision of an entertainment or information service which is received by the customer exclusively in an aural manner. Such additional tax shall not be imposed by section eleven hundred seven, eleven hundred eight or eleven hundred nine of this article and shall not be included among the taxes authorized to be imposed pursuant to the authority of article twenty-nine of this chapter. Wages, salaries and other compensation paid by an employer to an employee for performing as an employee the services described in paragraphs (1) through (9) of this subdivision (c) are not receipts subject to the taxes imposed under such subdivision. (10) Transportation service, whether or not any tangible personal property is transferred in conjunction therewith, and regardless of whether the charge is paid in this state or out of state so long as the service is provided in this state.

   (d) (i) The receipts from every sale of beer, wine or other alcoholic beverages or any other drink of any nature, or from every sale of food and drink of any nature or of food alone, when sold in or by restaurants, taverns or other establishments in this state, or by caterers, including in the amount of such receipts any cover, minimum, entertainment or other charge made to patrons or customers (except those receipts taxed pursuant to subdivision (f) of this section): (1) in all instances where the sale is for consumption on the premises where sold; (2) in those instances where the vendor or any person whose services are arranged for by the vendor, after the delivery of the food or drink by or on behalf of the vendor for consumption off the premises of the vendor, serves or assists in serving, cooks, heats or provides other services with respect to the food or drink; and (3) in those instances where the sale is made through a vending machine that is activated by use of coin, currency, credit card or debit card (except the sale of drinks in a heated state made through such a vending machine) or is for consumption off the premises of the vendor, except where food (other than sandwiches) or drink or both are (A) sold in an unheated state and, (B) are of a type commonly sold for consumption off the premises and in the same form and condition, quantities and packaging, in establishments which are food stores other than those principally engaged in selling foods prepared and ready to be eaten. (ii) The tax imposed by this subdivision shall not apply to: (A) food or drink which is sold to an air line for consumption while in flight; (B) food or drink sold to a student of a nursery school, kindergarten, elementary or secondary school at a restaurant or cafeteria located on the premises of such a school, or food or drink, other than beer, wine, or other alcoholic beverages, sold at a restaurant, tavern or other establishment located on the premises of a college, university or a school (other than a nursery school, kindergarten, elementary or secondary school) to a student enrolled therein who purchases such food or drink under a contractual arrangement whereby the student does not pay cash at the time he is served, provided the school, college or university described in this subparagraph is operated by an exempt organization described in subdivision (a) of section eleven hundred sixteen, or is created, incorporated, registered, or licensed by the state legislature or pursuant to the education law or the regulations of the commissioner of education, or is incorporated by the regents of the university of the State of New York or with their consent or the consent of the commissioner of education as provided in section two hundred sixteen of the education law; and (e) (1) The rent for every occupancy of a room or rooms in a hotel in this state, except that the tax shall not be imposed upon (i) a permanent resident, or (ii) where the rent is not more than at the rate of two dollars per day. (2) When occupancy is provided, for a single consideration, with property, services, amusement charges, or any other items, the separate sale of which is not subject to tax under this article, the entire consideration shall be treated as rent subject to tax under paragraph one of this subdivision; provided, however, that where the amount of the rent for occupancy is stated separately from the price of such property, services, amusement charges, or other items, on any sales slip, invoice, receipt, or other statement given the occupant, and such rent is reasonable in relation to the value of such property, services,  amusement charges or other items, only such separately stated rent will be subject to tax under paragraph one of this subdivision. (f) (1) Any admission charge where such admission charge is in excess of ten cents to or for the use of any place of amusement in the state, except charges for admission to race tracks, boxing, sparring or wrestling matches or exhibitions which charges are taxed under any other law of this state, or dramatic or musical arts performances, or live circus performances, or motion picture theaters, and except charges to a patron for admission to, or use of, facilities for sporting activities in which such patron is to be a participant, such as bowling alleys and swimming pools. For any person having the permanent use or possession of a box or seat or a lease or a license, other than a season ticket, for the use of a box or seat at a place of amusement, the tax shall be upon the amount for which a similar box or seat is sold for each performance or exhibition at which the box or seat is used or reserved by the holder, licensee or lessee, and shall be paid by the holder, licensee or lessee. (2) (i) The dues paid to any social or athletic club in this state if the dues of an active annual member, exclusive of the initiation fee, are in excess of ten dollars per year, and on the initiation fee alone, regardless of the amount of dues, if such initiation fee is in excess of ten dollars. Where the tax on dues applies to any such social or athletic club, the tax shall be paid by all members, other than honorary members, thereof regardless of the amount of their dues, and shall be paid on all dues or initiation fees for a period commencing on or after August first, nineteen hundred sixty-five. In the case of a life membership, the tax shall be upon the amount paid as life membership dues, however, a life member, other than an honorary member, paying an annual sales tax, based on the dues of an active annual member, shall continue such payments until the total amount of such tax paid is equal to the amount of tax that would have otherwise been due had the tax been imposed at the time such paid life membership has been purchased and at the then applicable rate. (ii) Dues and initiation fees paid to the following shall not be subject to the tax imposed by this paragraph: (A) A fraternal society, order or association operating under the lodge system; (B) Any fraternal association of students of a college or university; (C) A homeowners association. For purposes of this subparagraph, a homeowners association is an association (including a cooperative housing or apartment corporation) (I) the membership of which is comprised exclusively of owners or residents of residential dwelling units, including owners of units in a condominium, and including shareholders in a cooperative housing or apartment corporation, where such units are located in a defined geographical area such as a housing development or subdivision and (II) which operates social or athletic facilities located in such area for use (whether or not exclusive) by such owners or residents. (3) The amount paid as charges of a roof garden, cabaret or other similar place in the state.

Note: Citation as of 10/25/11 - ALL NYS Tax Laws are subject to change and update - you must confirm as relying or filing.

DCarsonCPA.com is the web presence of Dean T. Carson II, CPA we are here to better connect the line between Government, Industry, Business, Non Profit and Individual Financial Decision Makers to support Accounting, Taxation, Compliance, Operations, Advisory, Audits and more. Learn more at www.dcarsoncpa.com or reach us at info@dcarsoncpa.com .

Checking in with NYC Government : Updates including NYC City Council promoting North Brooklyn and Long Island City Industrial Zones

Checking in with NYC Government:

Executive:

Consultant convicted of stealing from NYC Mayor Bloomberg

Statement of Mayor Michael R. Bloomberg on Appointment of Joseph J. Lhota as Chairman and CEO of the Metropolitan Transportation Authority

MAYOR BLOOMBERG APPOINTS SHARI C. HYMAN AS COMMISSIONER AND CHAIR OF THE BUSINESS INTEGRITY COMMISSION

Legislative:

A Sample of Items under review by Committee at NYC City Council:

A Local Law to amend the administrative code of the city of New York, in relation to reporting on finger imaging of food stamp applicants.

A Local Law to amend the administrative code of the city of New York, in relation to prohibiting a taxicab from remaining in a taxi-stand line with their off duty light engaged.

A Local Law to amend the administrative code of the city of New York, in relation to requiring the department of consumer affairs to post and maintain renderings or drawings for approved sidewalk cafés on the department’s website.

Notices:

Monday 10/24/11 public meeting NYC Council Small Business Committee with NYC Economic Development Committee at 29 Mesorole Ave. (Between Banker and Gem Streets) Brooklyn New York - tour North Brooklyn Industrial Zone:

Agenda 102411 NYC Council Small Business and Economic Development Committees


Coming up Monday 10/31/11 public meeting  NYC Council Small Business Committee with NYC Economic Development Committee at LIC, Queens :
Agenda

Judicial:

The New York State Unified Court System also encompasses NYC Courts and is your source for Judicial Branch insight in NYC.

From New York State Supreme Court / Commercial Division:

The Commercial Division Law Report, issued four times per year, contains summaries of recent leading opinions of the Commercial Division Justices. The most recent report was issued in July 2011  .

NYS Civil Supreme Court:

Checking in with the NYS Civil Court Calendar for NYC

A sample look at activity in Our NYS Court System as an example of the Judicial Branch at work on NYC and NYS Court work. Over time we will be sharing more with you to hopefully better connect you to the NYS / NYC from the observational view scape to better inform you on your NYC and NYS Government and elements that may impact your Finances at the Governmental, Industry, Business, Non Profit or Individual level. The Judicial Branch is where Laws become interactive with Decision Making after Decisions are made and where determinations must be made between parties. We are primarily concerned with points of the Judicial Branch that interact with Financial Decision Making in NYC.

We are DCarsonCPA.com the web presence of Dean T. Carson II, CPA a CPA Practice grown with hands on skills from Financial Services and General Business. We serve Clients needs with a broad perspective of the Accounting, Tax, Advisory, Compliance and other perspectives we can support with the additional skill set of training on the Analyst Path (pursuing the CFA designation) and interacting with Laws and Governance at the source. We are here to support Financial Decision Makers. Learn more at www.dcarsoncpa.com or reach us at info@dcarsoncpa.com

Openning up the Borough Lines for NYC - NYC Borough Lines

There's enough Government, Industry, Business, Non Profit and Individual activity in the  Boroughs to keep anyone busy night and day writing, We hope you'll find the information we share to be interesting and helpful to your life in the Boroughs in Manhattan, Brooklyn, Queens, Staten Island and the Bronx. We share a fascinating Government and the most Entertaining and Active City in the World, there are too many layers to cover it all but we will focus on the key points we think are of Interest to Decision Makers in Government, Industry, Business, Non Profit and Individual leadership roles on finance as we all live Our Lives in New York City. We hope to bring you closer to issues that matter to help you better lead your Financial Decisions, interact with the way that your Tax Dollars Finance NYC and maybe even  contribute a bit to improving the circumstances and opportunities we all share as New Yorkers.

Thanks for joining us here for DCarsonCPA.com NYC Borough Lines. DCarsonCPA.com is the web presence of Dean T. Carson II, CPA a New York City based Traditional and Strategic CPA Practice with a Broad Vision of the way we can help Clients and potential Clients with better information on Finance, Governance and more. When you are wondering where you can turn for CPA Services needs or Business support services - we want you to reach out to us at www.dcarsoncpa.com or info@dcarsoncpa.com  .  We are here to support Decision Makers on Government, Industry, Business, Non Profit and Individual Finances, Accounting, Taxes, Advisory and more in a way that makes sense in relation to your needs.