§ 23-06 — Applications for Exemptions

§ 23-06 Applications for Exemptions.

A person or organization claiming exemption from the tax under 19 RCNY § 23-05(b)(2) is required to submit a properly executed application for exemption and in connection therewith to submit such information to the Commissioner of Finance as will enable him to rule upon its status. The application is required to be submitted in the form of affidavit setting forth: (a) the type of organization, (b) the purpose for which it is organized, (c) its actual activities, (d) the source and disposition of its income, (e) whether or not any of its income is credited to surplus or may inure to any private stockholder or individual, and (f) such other facts which may affect its right to exemption. The affidavit must be supplemented by a copy of the articles of incorporation, or articles of association, as the case may be, a copy of the by-laws of the organization, a financial statement showing its assets and liabilities, a statement of its receipts and disbursements for the most recent year, a copy of the letter from the United States Treasury Department granting the organization exemption from federal income taxation and a copy of its federal income tax return for the most recent year. The Commissioner of Finance, after reviewing the application, and if satisfied that the applicant is entitled to an exemption, will issue a letter of exemption to the applicant. Upon the receipt of such letter of exemption, the applicant shall attach a true copy thereof to any return required to be filed under the law.