§ 25-03 Exemptions.
RCNY § 25-03
(a)The tax does not apply to: (1) The State of New York, or any of its agencies, instrumentalities, public corporations (including a public corporation created pursuant to agreement or compact with another State or Canada) or political subdivisions; (2) The United States of America, and any of its agencies and instrumentalities insofar as it is immune from taxation; (3) The United Nations or other international organizations of which the United States of America is a member; (4) Any corporation, or trust, or community chest, fund, or foundation organized and operated exclusively for religious, charitable, or educational purposes, or for the prevention of cruelty to children or animals, no part of the net earnings of which inures to the benefit of any private shareholder or individual and no substantial part of the activities of which is carrying on propaganda, or otherwise attempting to influence legislation, provided, however, that nothing in this paragraph shall include an organization operated for the primary purpose of carrying on a trade or business for profit, whether or not all of its profits are payable to one or more organizations described in this paragraph.
(b)Any person claiming exemption under paragraph (4) of subdivision (a) hereof must make application for such exemption to the Commissioner of Finance and is required to submit to the Commissioner of Finance such information as will enable the Commissioner to rule upon the applicant's status. The Commissioner, if satisfied that the applicant is entitled to the exemption, will issue a letter of exemption to the applicant. A corporation or unincorporated entity organized and operated for nonprofit purposes claiming exemption is required to submit an affidavit which shall set forth the following.
(1)The type of organization, (2) The purpose for which it is organized, (3) Its actual activities, (4) The source and disposition of its income, (5) Whether or not any of its income is credited to surplus or may inure to any private stockholder or individual, and (6) 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 for the most recent year, a statement of its receipts and disbursements for the most recent year, and a photostatic copy of the letter, if any, from the United States Treasury Department granting the organization exemption from Federal income taxation.
