2023 New York Laws › TAX - Tax › Article 9-A - Franchise Tax on Business Corporations › 210 - Computation of Tax.

§  210.  Computation of tax.  1. The tax imposed by subdivision one of
section two hundred nine of this chapter shall be: (A) in  the  case  of
each  taxpayer  other  than  a  New  York  S  corporation or a qualified
homeowners  association,  the  highest  of  the  amounts  prescribed  in
paragraphs  (a),  (b),  and  (d) of this subdivision, (B) in the case of
each New York S corporation, the amount prescribed in paragraph  (d)  of
this  subdivision,  and  (C)  in  the  case  of  a  qualified homeowners
association, the highest of the amounts prescribed in paragraphs (a) and
(b) of this subdivision.  For  purposes  of  this  paragraph,  the  term
"qualified  homeowners  association"  means a homeowners association, as
such  term  is  defined  in  subsection  (c)  of  section  five  hundred
twenty-eight of the internal revenue code without regard to subparagraph
(E)  of  paragraph  one  of such subsection (relating to elections to be
taxed pursuant to such section), which  has  no  homeowners  association
taxable  income,  as  such  term  is  defined  in subsection (d) of such
section. Provided, however,  that  in  the  case  of  a  small  business
taxpayer  (other  than a New York S corporation) as defined in paragraph
(f) of this subdivision, for  taxable  years  beginning  before  January
first,  two thousand sixteen, if the amount prescribed in such paragraph
(b) is higher than the amount prescribed in such paragraph (a) solely by
reason of the application of  the  rate  applicable  to  small  business
taxpayers, then with respect to such taxpayer the tax referred to in the
previous   sentence  shall  be  higher  of  the  amounts  prescribed  in
paragraphs (a) and (d) of this subdivision.
(a) Business income base.  For taxable years beginning before  January
first,  two  thousand  sixteen,  the amount prescribed by this paragraph
shall be computed at the rate of seven  and  one-tenth  percent  of  the
taxpayer's business income base. For taxable years beginning on or after
January  first,  two  thousand  sixteen,  the  amount prescribed by this
paragraph shall be six and one-half percent of the  taxpayer's  business
income  base. For taxable years beginning on or after January first, two
thousand twenty-one and before January first, two thousand  twenty-seven
for  any  taxpayer  with  a business income base for the taxable year of
more than five million dollars, the amount prescribed by this  paragraph
shall be seven and one-quarter percent of the taxpayer's business income
base.  The taxpayer's business income base shall mean the portion of the
taxpayer's business income apportioned within the state  as  hereinafter
provided.  However, in the case of a small business taxpayer, as defined
in  paragraph  (f)  of  this  subdivision, the amount prescribed by this
paragraph shall be  computed  pursuant  to  subparagraph  (iv)  of  this
paragraph  and in the case of a manufacturer, as defined in subparagraph
(vi) of this paragraph, the amount prescribed by this paragraph shall be
computed pursuant to subparagraph (vi) of this paragraph,  and,  in  the
case   of  a  qualified  emerging  technology  company,  as  defined  in
subparagraph (vii) of this paragraph,  the  amount  prescribed  by  this
paragraph  shall  be  computed  pursuant  to  subparagraph (vii) of this
paragraph.
(iv) for taxable years beginning before January  first,  two  thousand
sixteen, if the business income base is not more than two hundred ninety
thousand  dollars  the  amount  shall be six and one-half percent of the
business income base; if the business  income  base  is  more  than  two
hundred  ninety  thousand  dollars  but  not  over  three hundred ninety
thousand dollars the amount shall be the sum of  (1)  eighteen  thousand
eight  hundred  fifty  dollars,  (2)  seven and one-tenth percent of the
excess of the business income base  over  two  hundred  ninety  thousand
dollars  but not over three hundred ninety thousand dollars and (3) four
and thirty-five hundredths percent of the excess of the business  income

base  over  three  hundred  fifty  thousand  dollars  but not over three
hundred ninety thousand dollars;
(v) if the taxable period to which subparagraph (iv) of this paragraph
applies  is  less  than  twelve  months,  the  amount prescribed by this
paragraph shall be computed as follows:
(A) Multiply the business income base for such taxpayer by twelve;
(B) Divide the result obtained in (A) by the number of months  in  the
taxable year;
(C)  Compute  an amount pursuant to subparagraph (iv) as if the result
obtained in (B) were the taxpayer's business income base;
(D) Multiply the result obtained in (C) by the number of months in the
taxpayer's taxable year;
(E) Divide the result obtained in (D) by twelve.
(vi) for taxable years  beginning  on  or  after  January  first,  two
thousand  fourteen,  the  amount  prescribed  by  this  paragraph  for a
taxpayer that is a qualified New York manufacturer, shall be computed at
the rate of zero percent of the taxpayer's  business  income  base.  The
term  "manufacturer"  shall mean a taxpayer that during the taxable year
is principally engaged in the  production  of  goods  by  manufacturing,
processing,   assembling,   refining,   mining,   extracting,   farming,
agriculture,  horticulture,  floriculture,  viticulture  or   commercial
fishing.  However,  the  generation and distribution of electricity, the
distribution of natural gas, and the production of steam associated with
the generation of electricity shall not be qualifying activities  for  a
manufacturer  under  this  subparagraph.  Moreover,  in  the  case  of a
combined report, the combined group shall be considered a "manufacturer"
for purposes of this subparagraph only if the combined group during  the
taxable  year is principally engaged in the activities set forth in this
paragraph, or any combination thereof. A taxpayer or, in the case  of  a
combined  report,  a  combined  group  shall be "principally engaged" in
activities described above if, during the taxable year, more than  fifty
percent  of  the  gross  receipts  of  the  taxpayer  or combined group,
respectively, are derived from receipts from the sale of goods  produced
by  such  activities.  In  computing  a combined group's gross receipts,
intercorporate receipts shall  be  eliminated.  A  "qualified  New  York
manufacturer"  is  a  manufacturer that has property in New York that is
described in  clause  (A)  of  subparagraph  (i)  of  paragraph  (b)  of
subdivision  one of section two hundred ten-B of this article and either
(I) the adjusted basis of such property for New York state tax  purposes
at the close of the taxable year is at least one million dollars or (II)
all of its real and personal property is located in New York. A taxpayer
or,  in  the  case of a combined report, a combined group, that does not
satisfy the principally  engaged  test  may  be  a  qualified  New  York
manufacturer  if  the  taxpayer or the combined group employs during the
taxable  year  at  least  two  thousand  five   hundred   employees   in
manufacturing  in  New  York  and the taxpayer or the combined group has
property in the state used in manufacturing, the adjusted basis of which
for New York state tax purposes at the close of the taxable year  is  at
least one hundred million dollars.
(vii)  For  a  taxpayer  that  is  defined  as  a  qualified  emerging
technology company under paragraph (c) of  subdivision  one  of  section
thirty-one hundred two-e of the public authorities law regardless of the
ten  million  dollar  limitation  expressed  in subparagraph one of such
paragraph (c) the amount prescribed by this paragraph shall be  computed
at  the  rate  of  5.7  percent  for taxable years beginning on or after
January first, two  thousand  fifteen  and  before  January  first,  two
thousand  sixteen,  5.5  percent for taxable years beginning on or after
January first  two  thousand  sixteen  and  before  January  first,  two

thousand  eighteen,  and 4.875 percent for taxable years beginning on or
after January first, two thousand eighteen.
(viii)  (A)  In computing the business income base, taxpayers shall be
allowed both a prior net operating  loss  conversion  subtraction  under
this  subparagraph and a net operating loss deduction under subparagraph
(ix)  of  this  paragraph.  The  prior  net  operating  loss  conversion
subtraction  computed  under  this subparagraph shall be applied against
the business  income  base  before  the  net  operating  loss  deduction
computed under subparagraph (ix) of this paragraph.
(B) Prior net operating loss conversion subtraction.
(1) Definitions.
(I)  "Base  year"  means  the  last taxable year beginning on or after
January first, two thousand  fourteen  and  before  January  first,  two
thousand fifteen.
(II)  "Unabsorbed  net operating loss" means the unabsorbed portion of
net operating loss as calculated under paragraph (f) of subdivision nine
of section two hundred eight of this  article  or  subsection  (k-1)  of
section  fourteen  hundred  fifty-three of this chapter as such sections
were in effect on December thirty-first, two thousand fourteen, that was
not deductible in previous taxable years and was eligible for  carryover
on  the  last  day  of  the  base  year  subject  to the limitations for
deduction  under  such  sections,  including  any  net  operating   loss
sustained by the taxpayer during the base year.
(III)  "Base  year  BAP"  means  the  taxpayer's  business  allocation
percentage as calculated under paragraph (a)  of  subdivision  three  of
this  section for the base year, or the taxpayer's allocation percentage
as calculated under section fourteen hundred fifty-four of this  chapter
for purposes of calculating entire net income for the base year, as such
sections were in effect on December thirty-first, two thousand fourteen.
(IV)  "Base  year tax rate" means the taxpayer's tax rate for the base
year as calculated under this paragraph or  subsection  (a)  of  section
fourteen  hundred fifty-five of this chapter, as such provisions were in
effect on December thirty-first, two thousand fourteen.
(2) The prior net  operating  loss  conversion  subtraction  shall  be
calculated as follows:
(I) The taxpayer shall first calculate the tax value of its unabsorbed
net  operating loss for the base year. The value is equal to the product
of (I) the amount of the taxpayer's unabsorbed net operating loss,  (II)
the  taxpayer's  base  year  BAP, and (III) the taxpayer's base year tax
rate.
(II) The product determined under item (I) of this subclause  is  then
divided  by  six and one-half percent, or in the case of a qualified New
York manufacturer, five and  seven-tenths  percent.  This  result  shall
equal  the  taxpayer's  prior  net operating loss conversion subtraction
pool.
(III) The taxpayer's prior net operating loss  conversion  subtraction
for  the  taxable  year  shall equal one-tenth of its net operating loss
conversion  subtraction  pool  plus  any  amount  of  unused  prior  net
operating  loss  conversion  subtraction  from  preceding taxable years.
Provided, however, the prior net operating loss  conversion  subtraction
of  a  small  business  corporation, as defined in paragraph (f) of this
subdivision, as of the last day of the base year, shall not  be  subject
to the one-tenth limitation in the previous sentence.
(IV)  In  lieu  of  the  subtraction  described  in item (III) of this
subclause, if the taxpayer so elects, the taxpayer's prior net operating
loss conversion subtraction for the tax  years  beginning  on  or  after
January  first,  two  thousand  fifteen  and  before  January first, two
thousand seventeen shall equal in each year, not more than  one-half  of

its  net  operating  loss  conversion subtraction pool until the pool is
exhausted. If the pool is not exhausted at the end of such time  period,
the  remainder  of  the pool shall be forfeited. The taxpayer shall make
such  revocable  election on its first return for the tax year beginning
on or after January first,  two  thousand  fifteen  and  before  January
first,  two thousand sixteen by the due date for such return (determined
with regard to extensions).
(3) Combined groups. (I) Where a taxpayer  was  properly  included  or
required  to be included in a combined report for the base year pursuant
to section two hundred eleven of this article or a combined return under
section fourteen hundred sixty-two of this  chapter,  as  such  sections
were  in effect on December thirty-first, two thousand fourteen, and the
members of the combined group for the base year  are  the  same  as  the
members   of  the  combined  group  for  the  taxable  year  immediately
succeeding the base year, the combined group shall calculate  its  prior
net  operating  loss  conversion  subtraction  pool  using  the combined
group's total unabsorbed net operating loss, base  year  BAP,  and  base
year tax rate.
(II)  If  a  combined group includes additional members in the taxable
year immediately succeeding the base year that were not included in  the
combined  group  during the base year, each base year combined group and
each taxpayer that filed separately in the base year but is included  in
the  combined  group  in the taxable year succeeding the base year shall
calculate its prior net operating loss conversion subtraction pool,  and
the  sum  of  the  pools  shall be the combined prior net operating loss
conversion subtraction pool of the combined group.
(III) If a taxpayer was properly included in a combined report for the
base year and files a separate report in a subsequent taxable year, then
the amount of remaining prior net operating loss conversion  subtraction
allowed   to   the   taxpayer  filing  such  separate  report  shall  be
proportionate to the amount that such taxpayer contributed to the  prior
net  operating loss conversion subtraction pool on a combined basis, and
the remaining prior net operating loss conversion subtraction allowed to
the  remaining  members  of  the  combined  group   shall   be   reduced
accordingly.
(IV)  If  a  taxpayer filed a separate report for the base year and is
properly included in a combined report in  a  subsequent  taxable  year,
then  the  prior  net  operating loss conversion subtraction pool of the
combined group shall be increased by the amount  of  the  remaining  net
operating  loss  conversion  subtraction  allowed to the taxpayer at the
time the taxpayer is properly included in the combined group.
(4) The prior net operating loss conversion subtraction may be used to
reduce the taxpayer's tax on the apportioned business income base to the
higher of the tax on the  capital  base  under  paragraph  (b)  of  this
subdivision  or  the  fixed  dollar  minimum under paragraph (d) of this
subdivision. Unless the taxpayer has made the election provided  for  in
item  (IV)  of  subclause  two  of  this  clause,  any  amount of unused
subtraction shall be carried forward to subsequent  tax  year  or  years
until  the  prior  net  operating  loss  conversion  subtraction pool is
exhausted, but for no longer than twenty taxable years, or  the  taxable
year  beginning  on or after January first, two thousand thirty-five but
before January first, two thousand thirty-six,  whichever  comes  first.
Such  amount  carried  forward  shall  not  be  subject to the one-tenth
limitation for the  subsequent  tax  year  or  years.  However,  if  the
taxpayer  elects  to  compute  its  prior  net operating loss conversion
subtraction pursuant to item (IV) of subclause two of this  clause,  the
taxpayer  shall  not carry forward any unused amount of such subtraction

to any tax year beginning  on  or  after  January  first,  two  thousand
seventeen.
(ix)  Net  operating loss deduction.  In computing the business income
base, a net operating loss deduction shall be allowed. A  net  operating
loss deduction is the amount of net operating loss or losses from one or
more  taxable  years  that  are  carried  forward  or  carried back to a
particular taxable year. A  net  operating  loss  is  the  amount  of  a
business  loss  incurred  in  a  particular  tax  year multiplied by the
apportionment factor for that  year  as  determined  under  section  two
hundred  ten-A of this article. The maximum net operating loss deduction
that is allowed in a  taxable  year  is  the  amount  that  reduces  the
taxpayer's  tax on the apportioned business income base to the higher of
the tax on the capital base or the fixed dollar minimum.  Such deduction
and loss are determined in accordance with the following:
(1) Such net operating loss deduction is not  limited  to  the  amount
allowed  under  section  one hundred seventy-two of the internal revenue
code or the amount that would have been allowed if the taxpayer had  not
made  an  election  under  subchapter  S  of chapter one of the internal
revenue code.
(2) Such net operating  loss  deduction  shall  not  include  any  net
operating  loss  incurred  during  any  taxable  year beginning prior to
January first, two thousand fifteen, or during any taxable year in which
the taxpayer was not subject to the tax imposed by this article.
(3) A taxpayer that files as part of a federal consolidated return but
on a separate basis for  purposes  of  this  article  must  compute  its
deduction  and loss as if it were filing on a separate basis for federal
income tax purposes.
(4) A net operating loss may  be  carried  back  three  taxable  years
preceding  the  taxable  year  of the loss ("the loss year"). However no
loss can be carried back to a  taxable  year  beginning  before  January
first,  two  thousand fifteen. The loss is first carried to the earliest
of the three taxable years. If it is not entirely used in that year,  it
is  carried  to the second taxable year preceding the loss year, and any
remaining amount is carried to the taxable  year  immediately  preceding
the  loss  year. Any unused amount of loss then remaining may be carried
forward for as many as twenty taxable years  following  the  loss  year.
Losses  carried  forward  are  carried forward first to the taxable year
immediately following the loss year, then to  the  second  taxable  year
following  the  loss  year,  and then to the next immediately subsequent
taxable year or years until the loss is used up or the twentieth taxable
year following the loss year, whichever comes first.
(5) Such net operating  loss  deduction  shall  not  include  any  net
operating  loss  incurred during a New York S year; provided, however, a
New York S year must be treated  as  a  taxable  year  for  purposes  of
determining  the  number  of taxable years to which a net operating loss
may be carried forward.
(6) Where there are two or more apportioned net operating  losses,  or
portions  thereof, carried back or carried forward to be deducted in one
particular tax year  from  apportioned  business  income,  the  earliest
apportioned loss incurred must be applied first.
(7)  A  taxpayer  may  elect to waive the entire carryback period with
respect to a net operating loss. Such  election  must  be  made  on  the
taxpayer's  original  timely  filed  return  (determined  with regard to
extensions) for the taxable year of the net operating loss for which the
election is to be in effect. Once an election  is  made  for  a  taxable
year, it shall be irrevocable for that taxable year. A separate election
must be made for each loss year. This election applies to all members of
a combined group.
(b)  Capital  base.
(1) (i) The amount prescribed by this paragraph
shall be computed at .15 percent for each dollar of the taxpayer's total
business capital, or the portion thereof apportioned within the state as
hereinafter provided for taxable years beginning before  January  first,
two  thousand  sixteen.    However, in the case of a cooperative housing
corporation as defined in the internal revenue code, the applicable rate
shall be .04 percent until taxable years beginning on or  after  January
first,  two thousand twenty and zero percent for taxable years beginning
on or after January first, two thousand twenty-one. The rate of tax  for
subsequent tax years shall be as follows: .125 percent for taxable years
beginning  on  or  after  January first, two thousand sixteen and before
January first, two thousand seventeen; .100 percent  for  taxable  years
beginning  on  or after January first, two thousand seventeen and before
January first, two thousand eighteen; .075  percent  for  taxable  years
beginning  on  or  after January first, two thousand eighteen and before
January first, two thousand nineteen; .050  percent  for  taxable  years
beginning  on  or  after January first, two thousand nineteen and before
January first, two thousand  twenty;  .025  percent  for  taxable  years
beginning  on  or  after  January  first, two thousand twenty and before
January first, two thousand twenty-one;  and  .1875  percent  for  years
beginning  on or after January first, two thousand twenty-one and before
January first, two thousand twenty-seven, and zero percent  for  taxable
years  beginning  on  or after January first, two thousand twenty-seven.
Provided however, for taxable years beginning on or after January first,
two thousand twenty-one, the rate of tax for a small business as defined
in paragraph (f) of this subdivision shall be zero percent. The rate  of
tax  for  a  qualified  New  York manufacturer shall be .132 percent for
taxable years beginning on or after January first, two thousand  fifteen
and before January first, two thousand sixteen, .106 percent for taxable
years  beginning  on  or  after  January first, two thousand sixteen and
before January first, two thousand seventeen, .085 percent  for  taxable
years  beginning  on  or after January first, two thousand seventeen and
before January first, two thousand eighteen; .056  percent  for  taxable
years  beginning  on  or  after January first, two thousand eighteen and
before January first, two thousand nineteen; .038  percent  for  taxable
years  beginning  on  or  after January first, two thousand nineteen and
before January first, two thousand  twenty;  .019  percent  for  taxable
years  beginning  on  or  after  January  first, two thousand twenty and
before January first, two thousand  twenty-one;  and  zero  percent  for
years beginning on or after January first, two thousand twenty-one. (ii)
In  no  event shall the amount prescribed by this paragraph exceed three
hundred fifty thousand dollars for qualified New York manufacturers  and
for all other taxpayers five million dollars.
(2)  For  purposes  of  subparagraph  one  of this paragraph, the term
"manufacturer" shall mean a taxpayer that during  the  taxable  year  is
principally  engaged  in  the  production  of  goods  by  manufacturing,
processing,   assembling,   refining,   mining,   extracting,   farming,
agriculture,   horticulture,  floriculture,  viticulture  or  commercial
fishing. Moreover, for purposes of  computing  the  capital  base  in  a
combined report, the combined group shall be considered a "manufacturer"
for  purposes of this subparagraph only if the combined group during the
taxable year is principally engaged in the activities set forth in  this
subparagraph,  or any combination thereof. A taxpayer or, in the case of
a combined report, a combined group shall be  "principally  engaged"  in
activities  described above if, during the taxable year, more than fifty
percent of the  gross  receipts  of  the  taxpayer  or  combined  group,
respectively,  are derived from receipts from the sale of goods produced
by such activities. In computing  a  combined  group's  gross  receipts,

intercorporate  receipts  shall  be  eliminated.  A  "qualified New York
manufacturer" is a manufacturer that has property in New  York  that  is
described  in  clause  (A)  of  subparagraph  (i)  of  paragraph  (b) of
subdivision  one of section two hundred ten-B of this article and either
(i) the adjusted basis of that property for New York state tax  purposes
at the close of the taxable year is at least one million dollars or (ii)
all  of  its  real  and  personal  property  is  located in New York. In
addition, a "qualified New York manufacturer" means a taxpayer  that  is
defined  as  a qualified emerging technology company under paragraph (c)
of subdivision one of section thirty-one hundred  two-e  of  the  public
authorities   law  regardless  of  the  ten  million  dollar  limitation
expressed in subparagraph one of such paragraph. A taxpayer or,  in  the
case  of  a combined report, a combined group, that does not satisfy the
principally engaged test may be a qualified New York manufacturer if the
taxpayer or the combined group employs during the taxable year at  least
two thousand five hundred employees in manufacturing in New York and the
taxpayer  or  the  combined  group  has  property  in  the state used in
manufacturing, the adjusted basis  of  which  for  New  York  state  tax
purposes  at  the  close  of  the  taxable  year is at least one hundred
million dollars.
(d) Fixed dollar minimum.   (1) (A)  The  amount  prescribed  by  this
paragraph   for   New  York  S  corporations,  other  than  New  York  S
corporations that are qualified  New  York  manufacturers  or  qualified
emerging technology companies, will be determined in accordance with the
following table:
 
If New York receipts are:                The fixed dollar minimum tax is:
 not more than $100,000                               $   25
 more than $100,000 but not over $250,000             $   50
 more than $250,000 but not over $500,000             $  175
 more than $500,000 but not over $1,000,000           $  300
 more than $1,000,000 but not over $5,000,000         $1,000
 more than $5,000,000 but not over $25,000,000        $3,000
 Over $25,000,000                                     $4,500
(B)  Provided further, the amount prescribed by this paragraph for New
York S corporations  that  are  qualified  New  York  manufacturers,  as
defined  in  subparagraph (vi) of paragraph (a) of this subdivision, and
for New York S  corporations  that  are  qualified  emerging  technology
companies  under  paragraph (c) of subdivision one of section thirty-one
hundred two-e of the  public  authorities  law  regardless  of  the  ten
million   dollar  limitation  expressed  in  subparagraph  one  of  such
paragraph (c), will be  determined  in  accordance  with  the  following
tables.
 
For  taxable  years  beginning  on  or  after January 1, 2015 and before
January 1, 2016:
 
If New York receipts are:                The fixed dollar minimum tax is:
 
 not more than $100,000                               $   22
 more than $100,000 but not over $250,000             $   44
 more than $250,000 but not over $500,000             $  153
 more than $500,000 but not over $1,000,000           $  263
 more than $1,000,000 but not over $5,000,000         $  877
 more than $5,000,000 but not over $25,000,000        $2,631
 Over $25,000,000                                     $3,947

For taxable years beginning on or  after  January  1,  2016  and  before
January 1, 2018:
 
If New York receipts are:                The fixed dollar minimum tax is:
 not more than $100,000                               $   21
 more than $100,000 but not over $250,000             $   42
 more than $250,000 but not over $500,000             $  148
 more than $500,000 but not over $1,000,000           $  254
 more than $1,000,000 but not over $5,000,000         $  846
 more than $5,000,000 but not over $25,000,000        $2,538
 Over $25,000,000                                     $3,807
 
For taxable years beginning on or after January 1, 2018:
 
If New York receipts are:                The fixed dollar minimum tax is:
 not more than $100,000                               $   19
 more than $100,000 but not over $250,000             $   38
 more than $250,000 but not over $500,000             $  131
 more than $500,000 but not over $1,000,000           $  225
 more than $1,000,000 but not over $5,000,000         $  750
 more than $5,000,000 but not over $25,000,000        $2,250
 Over $25,000,000                                     $3,375
(C)  Provided  further,  the amount prescribed by this paragraph for a
qualified New York manufacturer, as  defined  in  subparagraph  (vi)  of
paragraph  (a)  of this subdivision, and a qualified emerging technology
company under paragraph (c) of subdivision  one  of  section  thirty-one
hundred  two-e  of  the  public  authorities  law  regardless of the ten
million  dollar  limitation  expressed  in  subparagraph  one  of   such
paragraph  (c), that is not a New York S corporation, will be determined
in accordance with  the  following  tables.  However,  with  respect  to
qualified New York manufacturers, the amounts in these tables will apply
in  the  case  of a combined report only if the combined group satisfies
the requirements to be a qualified New York manufacturer as set forth in
such subparagraph (vi).
 
For tax years beginning on or after January 1, 2015 and  before  January
1, 2016:
 
If New York receipts are:                The fixed dollar minimum tax is:
 not more than $100,000                               $   22
 more than $100,000 but not over $250,000             $   66
 more than $250,000 but not over $500,000             $  153
 more than $500,000 but not over $1,000,000           $  439
 more than $1,000,000 but not over $5,000,000         $1,316
 more than $5,000,000 but not over $25,000,000        $3,070
 Over $25,000,000                                     $4,385
 
For  tax  years beginning on or after January 1, 2016 and before January
1, 2018:
 
If New York receipts are:                The fixed dollar minimum tax is:
 not more than $100,000                               $   21
 more than $100,000 but not over $250,000             $   63
 more than $250,000 but not over $500,000             $  148
 more than $500,000 but not over $1,000,000           $  423
 more than $1,000,000 but not over $5,000,000         $1,269

 more than $5,000,000 but not over $25,000,000        $2,961
 Over $25,000,000                                     $4,230
 
For tax years beginning on or after January 1, 2018:
 
If New York receipts are:                The fixed dollar minimum tax is:
 not more than $100,000                               $   19
 more than $100,000 but not over $250,000             $   56
 more than $250,000 but not over $500,000             $  131
 more than $500,000 but not over $1,000,000           $  375
 more than $1,000,000 but not over $5,000,000         $1,125
 more than $5,000,000 but not over $25,000,000        $2,625
 Over $25,000,000                                     $3,750
(D)  Otherwise,  for  all  other taxpayers not covered by clauses (A),
(B), (C) and (D-1) of this subparagraph, the amount prescribed  by  this
paragraph will be determined in accordance with the following table:
 
If New York receipts are:                The fixed dollar minimum tax is:
 not more than $100,000                               $   25
 more than $100,000 but not over $250,000             $   75
 more than $250,000 but not over $500,000             $  175
 more than $500,000 but not over $1,000,000           $  500
 more than $1,000,000 but not over $5,000,000         $1,500
 more than $5,000,000 but not over $25,000,000        $3,500
 more than $25,000,000 but not over $50,000,000       $5,000
 more than $50,000,000 but not over $100,000,000      $10,000
 more than $100,000,000 but not over $250,000,000     $20,000
 more than $250,000,000 but not over $500,000,000     $50,000
 more than $500,000,000 but not over $1,000,000,000   $100,000
 Over $1,000,000,000                                  $200,000
(D-1)  In  the  case  of a REIT or a RIC that is not a captive REIT or
captive RIC, the amount prescribed by this paragraph will be  determined
in accordance with the following table:
 
If New York receipts are:                The fixed dollar minimum tax is:
 not more than $100,000                               $   25
 more than $100,000 but not over $250,000             $   75
 more than $250,000 but not over $500,000             $  175
 more than $500,000                                   $  500
(E) For purposes of this paragraph, New York receipts are the receipts
included  in  the numerator of the apportionment factor determined under
section two hundred ten-A for the taxable year.
(2) If the taxable year is less than twelve months, the amount of  New
York  receipts  is determined by dividing the amount of the receipts for
the taxable year by the  number  of  months  in  the  taxable  year  and
multiplying  the  result  by  twelve,  and the amount prescribed by this
paragraph shall be reduced by twenty-five  percent  of  the  period  for
which  the  taxpayer  is  subject to tax is more than six months but not
more than nine months and by fifty percent if the period for  which  the
taxpayer is subject to tax is not more than six months. In the case of a
termination  year  of  a  New  York  S  corporation,  the sum of the tax
computed under this paragraph for the S short year and for the  C  short
year  shall not be less than the amount computed under this paragraph as
if the corporation were a New York C corporation for the entire  taxable
year.
(f)  For  purposes of this section, the term "small business taxpayer"
shall mean a taxpayer (i) which has an entire net  income  of  not  more
than  three  hundred  ninety thousand dollars for the taxable year; (ii)
the aggregate amount  of  money  and  other  property  received  by  the
corporation  for  stock,  as  a  contribution to capital, and as paid-in
surplus, does not exceed one million dollars; (iii) which is not part of
an affiliated group, as defined in section 1504 of the internal  revenue
code,  unless such group, if it had filed a report under this article on
a combined basis, would have  itself  qualified  as  a  "small  business
taxpayer"  pursuant  to  this subdivision; and (iv) which has an average
number of individuals, excluding general  executive  officers,  employed
full-time  in the state during the taxable year of one hundred or fewer.
If the taxable period  to  which  subparagraph  (i)  of  this  paragraph
applies  is  less  than  twelve  months,  entire  net  income under such
subparagraph shall be placed on  an  annual  basis  by  multiplying  the
entire  net  income  by  twelve and dividing the result by the number of
months in  the  period.  For  purposes  of  subparagraph  (ii)  of  this
paragraph,  the  amount  taken into account with respect to any property
other than money shall be the amount equal to the adjusted basis to  the
corporation  of  such  property  for  determining  gain,  reduced by any
liability to which the property was subject or which was assumed by  the
corporation.  The  determination  under  the preceding sentence shall be
made as of the time the property was received by  the  corporation.  For
purposes  of  subparagraph  (iv)  of  this paragraph, "average number of
individuals, excluding general executive officers,  employed  full-time"
shall  be  computed  by  ascertaining  the  number  of  such individuals
employed by the taxpayer on the thirty-first day of March, the thirtieth
day of June, the thirtieth day of September and the thirty-first day  of
December  during each taxable year or other applicable period, by adding
together the number of such individuals  ascertained  on  each  of  such
dates  and  dividing  the  sum  so  obtained by the number of such dates
occurring within such  taxable  year  or  other  applicable  period.  An
individual  employed  full-time means an employee in a job consisting of
at least thirty-five hours per week, or two or more employees who are in
jobs  that  together  constitute  the  equivalent  of  a  job  at  least
thirty-five  hours per week (full-time equivalent). Full-time equivalent
employees in the state include all employees regularly connected with or
working out of an office or place of business of the taxpayer within the
state.
1-c. The computations specified in paragraph (b) of subdivision one of
this section shall not apply  to  the  first  two  taxable  years  of  a
taxpayer which, for one or both such years, is a small business taxpayer
as defined in paragraph (f) of subdivision one of this section.
2. The amount of investment capital and business capital shall each be
determined  by  taking  the average value of the assets included therein
(less liabilities deductible therefrom pursuant  to  the  provisions  of
subdivisions  five  and seven of section two hundred eight), and, if the
period covered by the report is other than a period of  twelve  calendar
months,  by  multiplying  such value by the number of calendar months or
major parts thereof included in such period, and  dividing  the  product
thus obtained by twelve. For purposes of this subdivision, real property
and  marketable  securities shall be valued at fair market value and the
value of personal property other than marketable securities shall be the
value thereof shown  on  the  books  and  records  of  the  taxpayer  in
accordance with generally accepted accounting principles.
3.  A corporation that is a partner in a partnership shall compute tax
under this  article  using  the  aggregate  method  as  defined  in  the
regulations  of  the  commissioner,  unless another method for computing

such tax is required or allowed by such regulations. Under the aggregate
method, a corporation that is a partner in a partnership  is  viewed  as
having  an  undivided interest in the partnership's assets, liabilities,
and  items  of  receipts,  income,  gain,  loss and deduction. Under the
aggregate method, the corporation that is a partner in a partnership  is
treated   as   participating   in  the  partnership's  transactions  and
activities.