Visiting Nurse Association of Central New York Inc.

PART X, LINE 2:

“Nascentia health, nascentia health at home, cch, vna foundation, nascentia home aides, eldercare and chs are not-for-profit corporations and qualify as tax-exempt organizations under section 501(c)(3) of the internal revenue code (irc). Options, as a single member llc, is consolidated for tax purposes with nascentia health at home, its sole member. The operations of options is part of the exempt purpose of nascentia health at home and qualifies for tax-exemption under 501(c)(3) of the internal revenue code. Nascentia independent care is a taxable entity. Income taxes are provided for the tax effects of the transactions reported for nascentia independent care in the consolidated financial statements. Income taxes consist of taxes currently due plus deferred taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement reported amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The company accounts for interest and penalties related to uncertain tax positions as interest expense and office and general expense, respectively. As of december 31, 2019 and 2018, the company did not have any unrecognized tax benefits or any related accrued interest or penalties. The tax years open to examination by federal and new york state taxing authorities are 2016 through 2019.”