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COMMERCIAL RENT TAX RETURN. Applicable for the tax period June 1, 2012 to August 31, 2012 ONLY. CR-Q1. FIRST QUARTER. 2012/13. Finance. TM .

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The New York City Commercial Rent Tax is a 6% tax imposed on rent payments by tenants who occupy or use a property for commercial purposes in Manhattan, south of 96th Street.

The reporting periods covered by quarterly returns are March 1 through May 31, June 1 through August 31, September 1 through November 30, and December 1 through February 28/29. Quarterly returns are due no later than 20 days after the end of the quarter to which they relate.

If you are a tenant with a residential lease agreement , then no, you are not paying taxes directly to the government. However, as a renter, you are still paying property taxes.

Non-profit companies and businesses whose annual leases are under $200,000 do not pay Commercial Rent Tax (also known as an "Occupancy Tax") and are not eligible for the CRT Special Reduction.

Tax Rates. The tax rate is 6% of the base rent. All taxpayers are granted a 35% base rent reduction, which reduces the effective tax rate to 3.9%. In addition, you are allowed a tax credit if your annualized base rent before the 35% rent reduction is between $250,000 and $300,000.

You must file for a Commercial Rent Tax refund within 18 months of the due date for filing the return or six months from the time the tax was paid, whichever is later. The Department of Finance doesn't pay interest on Commercial Rent Tax refunds.

This tax is charged to tenants who occupy or use a property for commercial activity in Manhattan, south of the center line of 96th Street and pay at least $250,000 each year in rent.

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