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New York Free Printable Form IT-230 Separate Tax on Lump-Sum Distributions Tax Year 2023 for 2024 New York Separate Tax on Lump-Sum Distributions

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Separate Tax on Lump-Sum Distributions
Form IT-230 Separate Tax on Lump-Sum Distributions Tax Year 2023

Department of Taxation and Finance Separate Tax on Lump-Sum Distributions New York State • New York City IT-230 Submit with Form IT-201, IT-203, or IT-205. Name as shown on return Identification number Part 1 – Did you use federal Form 4972 to figure your federal tax on lump-sum distributions? Yes  (If Yes, submit this form, and a copy of federal Form 4972 with Form IT-201, IT-203, or IT-205.) From New York State or the United States or political subdivision. No  (If No, do not complete the rest of this form. Your lump-sum distribution does not qualify for the separate tax on lump-sum distributions.) Residents: Complete all of this Form IT-230 using information from federal Form 4972 (see instructions, Form IT-230-I, for assistance). Part‑year residents: Complete Part 2 using information from federal Form 4972. Complete Part 3 using information reported   on federal Form 4972 for the period of New York residence only (see instructions). Nonresidents: Complete only Part 2, line 1, and the Income percentage schedule on page 3 of Form IT‑230-I, Instructions for Form IT‑230. Part 2 – Use this part if you completed Part II on federal Form 4972. 1 Capital gain part from federal Form 4972, Part II, line 6 ....................................................................... 2 Multiply line 1 by 5.4% (.054) and enter in New York State column   (New York City and part-year New York City residents   use both columns; multiply line 1 by 1.72% (.0172)   and enter in New York City column) ...................................... 2 New York State .00 1 New York City .00 2 .00 Line 2 – New York State column Form IT-201 filers: Enter the line 2, New York State column amount on Form IT-230-I, Worksheet A, line 1. Line 2 – New York City column Full-year New York City residents: Enter the line 2, New York City column amount on Form IT-230-I, Worksheet B, line 1. Form IT-203 filers: Enter the line 2, New York State column amount on Form IT-230-I, Worksheet C, line 1. Part-year New York City residents: Enter the line 2, New York City column amount on Form IT-230-I, Worksheet D, line 1. Full-year resident estates or trusts: Enter the line 2, New York State column amount on Form IT‑205, line 7. Form IT-205 filers: Enter the line 2, New York City column amount on Form IT-205, line 16. Nonresident estates or trusts or part-year resident trusts: Include the line 2, New York State column amount on Form IT-205-A, line 11. New York State nonresidents, part-year residents, New York State nonresident estates or trusts, or part-year resident trusts: Complete the Income percentage schedule on page 3 of Form IT-230-I to compute the income percentage to enter on Form IT‑203, line 45, and on Form IT-230-I, Worksheet C, line 6, or Form IT-205-A, Schedule 1, line 12. Part 3 – Use this part if you were a resident or part-year resident and completed Part III on federal Form 4972. 3 Amount from federal Form 4972, Part III, line 8 (see instructions) .......................................................... 4 Death benefit exclusion (see instructions) ............................................................................................... 5 Subtract line 4 from line 3 (total taxable amount) ..................................................................................... 6 Current actuarial value of annuity from federal Form 4972, Part III, line 11 .......................................... 7 Add lines 5 and 6 (adjusted total taxable amount). If this amount is $70,000 or more,   skip lines 8 through 11, and enter this amount on line 12 ................................................................. 8 Multiply line 7 by 50% (.50) but do not enter more than 10,000 ...... 8 .00 9 Subtract $20,000 from line 7. If line 7 is $20,000 or less, leave blank . 9 .00 10 Multiply line 9 by 20% (.20) ...................................................... 10 .00 11 Subtract line 10 from line 8 (minimum distribution allowance) .................................................................... 12 Subtract line 11 from line 7 ................................................................................................................... 13 Federal estate tax attributable to lump-sum distribution ....................................................................... 14 Subtract line 13 from line 12 ................................................................................................................. 3 4 5 6 .00 .00 .00 .00 7 .00 11 12 13 14 .00 .00 .00 .00 (continued on back) 230001230094 IT-230 (2023) (back) Part 3 (continued)  Lines 15 through 24 – New York City and part-year New York City residents use both columns. If line 6 is blank, skip lines 15 through 17 and go to line 18. New York State 15 Divide line 6 by line 7 and round the result to the fourth   decimal place. If line 6 is zero, leave blank ........................ 15 15 16 Multiply line 11 by the decimal amount on line 15. .00 16   If line 15 is zero, leave blank .............................................. 16 17 Subtract line 16 from line 6 .................................................... 17 .00 17 New York City .00 .00 10-year tax option 18 Multiply line 14 by 10% (.10) .................................................. 18 19 Tax on line 18 amount (use the New York State tax rate schedule .00 18 .00 .00 19 .00 .00 20 .00 21 .00 .00 .00 22 .00 23 .00 .00 .00 .00   on page 4 of the instructions; New York City and part-year New   York City residents must also use the New York City tax rate   schedule on page 4 of the instructions) ..................................... 19 20 Multiply line 19 by ten. If line 6 is blank, skip lines 21   through 23 and enter this amount on line 24 ...................... 20 21 Multiply line 17 by 10% (.10) .................................................. 21 22 Tax on line 21 amount (use the New York State tax rate   schedule on page 4 of the instructions; New York City and   part-year New York City residents must also use the New York   City tax rate schedule on page 4 of the instructions) ................... 22 23 Multiply line 22 by ten ............................................................ 23 24 Subtract line 23 from line 20. This is your tax on   lump-sum distribution using the 10-year option ....................... 24 24 Line 24 – New York State column • Individuals: Enter the line 24, New York State column amount on Form IT-201-ATT, line 26, or Form IT-203-ATT, line 25. Line 24 – New York City column • Full-year New York City residents: Enter the line 24, New York City column amount on Form IT-201-ATT, line 32. • Fiduciaries: Include the line 24, New York State column amount on Form IT-205, line 12. • Part-year New York City residents: Enter the line 24, New York City column amount on Form IT-360.1, line 51. • Multiple recipients: See the front page of the instructions; if applicable, complete the worksheet below. • Estates or trusts: Enter the line 24, New York City column amount on Form IT-205, line 20. Multiple recipients of lump-sum distribution worksheet a Enter the amount from line 24 (New York City and part‑year New York State New York City .00 a .00 b Enter your percentage of the total distribution ...................... b b c Multiply line a by line b. Enter the result here and as follows:   Individuals: Enter the line c, New York State column   amount on Form IT‑201‑ATT, line 26, or Form IT‑203‑ATT,   line 25.   Fiduciaries: Include the line c, New York State column .00 c amount on Form IT‑205, line 12. ....................................... c .00   New York City residents: use both columns) .............................. a Full‑year New York City residents: Enter the line c, New York City column amount on Form IT‑201‑ATT, line 32, or Form IT-205, line 20. Part‑year New York City residents: Enter the line c, New York City column amount on Form IT-360.1, line 51, or Form IT‑205, line 20. 230002230094
Extracted from PDF file 2023-new-york-form-it-230.pdf, last modified November 2006

More about the New York Form IT-230 Individual Income Tax Voucher TY 2023

This form is used to figure out taxes when you get a lump (large amount) sum of money and want to figure out the taxes on that lump sum separate from your other taxes.

We last updated the Separate Tax on Lump-Sum Distributions in January 2024, so this is the latest version of Form IT-230, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form IT-230 directly from TaxFormFinder. You can print other New York tax forms here.

Other New York Individual Income Tax Forms:

TaxFormFinder has an additional 271 New York income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
Form IT-201 Individual Income Tax Return
IT-201-V Payment Voucher for Income Tax Returns
Form IT-201-D Resident Itemized Deduction Schedule (DISCONTINUED)
Form IT-203 Nonresident Income Tax Return
Form IT-201-I Individual Income Tax Return Instructions

Download all NY tax forms View all 272 New York Income Tax Forms


Form Sources:

New York usually releases forms for the current tax year between January and April. We last updated New York Form IT-230 from the Department of Taxation and Finance in January 2024.

Show Sources >

Form IT-230 is a New York Individual Income Tax form. Payment vouchers are provided to accompany checks mailed to pay off tax liabilities, and are used by the revenue department to record the purpose of the check and the SSN/EIN of the taxpayer who sent it. Many states recommend that taxpayers also write their social security number and the purpose of the payment on the check itself, in case the accompanying payment voucher is misplaced or destroyed.

About the Individual Income Tax

The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.

Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!

Historical Past-Year Versions of New York Form IT-230

We have a total of twelve past-year versions of Form IT-230 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2023 Form IT-230

Form IT-230 Separate Tax on Lump-Sum Distributions Tax Year 2023

2022 Form IT-230

Form IT-230 Separate Tax on Lump-Sum Distributions Tax Year 2022

2021 Form IT-230

Form IT-230 Separate Tax on Lump-Sum Distributions Tax Year 2021

2020 Form IT-230

Form IT-230:2020:Separate Tax on Lump-Sum Distributions:it230

2019 Form IT-230

Form IT-230:2019:Separate Tax on Lump-Sum Distributions:it230

2018 Form IT-230

Form IT-230:2018:Separate Tax on Lump-Sum Distributions:it230

2017 Form IT-230

Form IT-230:2017:Separate Tax on Lump-Sum Distributions:IT230

2016 Form IT-230

Form IT-230:2016:Separate Tax on Lump-Sum Distributions:IT230

2015 Form IT-230

Form IT-230:2015:Separate Tax on Lump-Sum Distributions:IT230

Separate Tax on Lump-Sum Distributions 2014 Form IT-230

Form IT-230:2014:Separate Tax on Lump-Sum Distributions:IT230

Separate Tax on Lump-Sum Distributions 2013 Form IT-230

Form IT-230:2013:Separate Tax on Lump-Sum Distributions:IT230

2012 Form IT-230

Form IT-230:2012:Separate Tax on Lump-Sum Distributions:IT230


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