reglab/statecodes huggingface dataset:
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 4 - APPORTIONMENT › Subpart 4-5 - [Repealed] › Section 4-5.2

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 4 - APPORTIONMENT › Subpart 4-5 - [Repealed] › Section 4-5.3

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 4 - APPORTIONMENT › Subpart 4-6 - [Repealed] › Section 4-6.1

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 4 - APPORTIONMENT › Subpart 4-6 - [Repealed] › Section 4-6.2

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 4 - APPORTIONMENT › Subpart 4-6 - [Repealed] › Section 4-6.3

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 4 - APPORTIONMENT › Subpart 4-6 - [Repealed] › Section 4-6.4

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 4 - APPORTIONMENT › Subpart 4-6 - [Repealed] › Section 4-6.5

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 4 - APPORTIONMENT › Subpart 4-7 - [Repealed] › Section 4-7.1

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 4 - APPORTIONMENT › Subpart 4-7 - [Repealed] › Section 4-7.2

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 4 - APPORTIONMENT › Subpart 4-7 - [Repealed] › Section 4-7.3 - Repealed

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 4 - APPORTIONMENT › Subpart 4-7 - [Repealed] › Section 4-7.4

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 4 - APPORTIONMENT › Subpart 4-8 - [Repealed] › Section 4-8.1

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 4 - APPORTIONMENT › Subpart 4-8 - [Repealed] › Section 4-8.2

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 4 - APPORTIONMENT › Subpart 4-8 - [Repealed] › Section 4-8.3

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 4 - APPORTIONMENT › Subpart 4-8 - [Repealed] › Section 4-8.4

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 4 - APPORTIONMENT › Subpart 4-8 - [Repealed] › Section 4-8.5

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 4 - APPORTIONMENT › Subpart 4-8 - [Repealed] › Section 4-8.6

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 4 - APPORTIONMENT › Subpart 4-8 - [Repealed] › Section 4-8.7 - Repealed

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 4 - APPORTIONMENT › Subpart 4-9 - [Repealed] › Section 4-9.1

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 4 - APPORTIONMENT › Subpart 4-9 - [Repealed] › Section 4-9.2

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 4 - APPORTIONMENT › Subpart 4-9 - [Repealed] › Section 4-9.3

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 4 - APPORTIONMENT › Subpart 4-10 - [Repealed] › Section 4-10.1

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-1 - INVESTMENT TAX CREDIT › Section 5-1.1 - General

Current through Register Vol. 46, No. 28, July 10, 2024
(Tax Law, section 210-B(1)(a))
(a) A corporation is allowed an investment
					 tax credit against the tax imposed by article 9-A with respect to qualified
					 tangible personal property and other tangible property, including buildings and
					 structural components of buildings that were acquired, constructed,
					 reconstructed or erected after December 31, 1968.
(b) A corporation must claim the investment
					 tax credit for the first taxable year in which the property becomes qualified
					 property.
(c) The investment tax
					 credit shall not reduce the tax to less than the fixed dollar minimum tax. If
					 the corporation has an excess investment tax credit after reducing the tax due
					 to the fixed dollar minimum tax or otherwise pays tax on the fixed dollar
					 minimum, the excess credit may be carried over to the fifteen taxable years
					 immediately following such taxable year and may be deducted from the
					 corporation's tax for such year or years. Provided, in lieu of the carryover, a
					 corporation may elect to treat the excess credit as an overpayment of tax to be
					 credited or refunded if it qualifies for such treatment under section
					 210-B(1)(d).
(d) A corporation must
					 submit a Claim for Investment Tax Credit on Form CT-46 when claiming the
					 credit.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-1 - INVESTMENT TAX CREDIT › Section 5-1.2 - Qualified and nonqualified tangible personal property

Current through Register Vol. 46, No. 28, July 10, 2024
(Tax Law, section 210-B(1)(b))
(a) The term "qualified tangible personal
					 property" means tangible property that satisfies the requirements set forth in
					 section 210-B(1)(b)(i).
(b) The
					 term "nonqualified tangible personal property" means tangible personal property
					 that is not qualified tangible personal property. It includes, but is not
					 limited to, the following:
(1) Tangible
					 personal property and other tangible property, including buildings, and
					 structural components of buildings, that a corporation leases to any other
					 person or corporation. For purposes of the preceding sentence, any contract or
					 agreement to lease or rent or for a license to use such property will be
					 considered a lease. However, in cases where production property is leased in
					 form and the lessee is in fact the beneficial owner and entitled to take
					 Federal depreciation on the property and the property qualifies, the lessee may
					 be entitled to take the investment tax credit. The use of a qualified film
					 production facility by a qualified production company is not considered a lease
					 of that facility to that company.
(2) Retail equipment, office furniture, and
					 office equipment.
(3) Excavating
					 and road building equipment.
(4)
					 Transportation equipment used on public roads.
(5) Property used to transport raw materials
					 to the raw materials warehouse or finished goods to customers.
(6) Public warehouses used to store the
					 corporation's goods.
(7) Property
					 principally used in the production or distribution of electricity, natural gas
					 after extraction from wells, steam, or water delivered through pipes and
					 mains.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-1 - INVESTMENT TAX CREDIT › Section 5-1.3 - Meaning of other terms

Current through Register Vol. 46, No. 28, July 10, 2024
(Tax Law, section 210-B(1)(b)(ii))
For purposes of the investment tax credit, the following
						terms have these meanings:
(a) The
					 term "manufacturing" means the process of working raw materials into wares
					 suitable for use or that gives new shapes, new quality or new combinations to
					 matter that already has gone through some artificial process by the use of
					 machinery, tools, appliances and other similar equipment.
(b) The term "property" used in the
					 production of goods includes machinery, equipment or other tangible property
					 that is principally used in the repair and service of other machinery,
					 equipment or other tangible property used principally in the production of
					 goods and includes all facilities used in the production operation, including
					 storage of material to be used in production and of the products that are
					 produced. Since property and equipment used to store raw materials and finished
					 goods are included in the meaning of manufacturing, property and equipment at
					 the raw material warehouse and at the finished goods warehouse of a
					 manufacturer qualify, provided that the property and equipment are principally
					 used in storing the raw materials or finished goods. Property used for
					 transportation of goods during the manufacturing process qualifies.
(c) The term "principally used" means more
					 than 50%. A building or addition to a building is principally used in
					 production where more than 50% of its usable business floor space is used in
					 storage and production. Floor space used for bathrooms, cafeterias and lounges
					 is not usable business floor space. Space used for offices, accounting, sales
					 and distribution is not used in production. Dual purpose machinery is
					 principally used in production when it is used in production more than 50% of
					 its operating time.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-1 - INVESTMENT TAX CREDIT › Section 5-1.4 - Re-computation of investment tax credit on property disposed of or property that ceases to qualify

Current through Register Vol. 46, No. 28, July 10, 2024
(Tax Law, section 210-B(1))
(a) If property on which investment tax
					 credit has been claimed is disposed of or ceases to be in qualified use prior
					 to the end of its useful life, the difference between the credit taken and the
					 credit allowed for actual use must be added back to the tax otherwise due in
					 the year of disposition or disqualification.
(b) The amount of investment tax credit to be
					 added back is computed as follows:
(1) divide
					 the total number of months in qualified use of the property by the total number
					 of months of useful life;
(2)
					 multiply the amount computed in paragraph (1) of this subdivision by the amount
					 of the credit claimed on the property to ascertain the credit allowed for
					 actual use;
(3) subtract the credit
					 allowed for actual use from the credit claimed on the property to determine the
					 amount of investment tax credit to be added back; and
(4) add the amount to be added back to the
					 tax due for the year the property was disposed of or ceases to
					 qualify.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-2 - EMPLOYMENT INCENTIVE TAX CREDIT › Section 5-2.1 - Employment incentive tax credit

Current through Register Vol. 46, No. 28, July 10, 2024
(Tax Law, section 210-B(2))
(a) Where a corporation is allowed an
					 investment tax credit under section 210-B(1), the corporation may be allowed an
					 employment incentive tax credit for each of the two years next succeeding the
					 taxable year for which the investment tax credit is allowed. The amount of the
					 employment incentive credit is a percentage of the investment credit base that
					 varies depending on the percentage increase in employment. The employment
					 incentive credit will be allowed for any taxable year only if:
(1) the average number of employees during
					 such taxable year is at least 101% of the average number of employees during
					 the taxable year immediately preceding the taxable year for which the
					 investment tax credit is allowed; or
(2) in case of a corporation that was not
					 subject to the tax imposed by article 9-A and did not have a taxable year
					 immediately preceding the taxable year for which the investment tax credit is
					 allowed, the average number of employees in the taxable year for which the
					 credit under this Subpart is allowable is at least 101% of the average number
					 of employees during the taxable year in which the investment tax credit is
					 allowed.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-2 - EMPLOYMENT INCENTIVE TAX CREDIT › Section 5-2.2

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-2 - EMPLOYMENT INCENTIVE TAX CREDIT › Section 5-2.3

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-2 - EMPLOYMENT INCENTIVE TAX CREDIT › Section 5-2.4

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-2 - EMPLOYMENT INCENTIVE TAX CREDIT › Section 5-2.5

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-2 - EMPLOYMENT INCENTIVE TAX CREDIT › Section 5-2.6

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-2 - EMPLOYMENT INCENTIVE TAX CREDIT › Section 5-2.7

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-2 - EMPLOYMENT INCENTIVE TAX CREDIT › Section 5-2.8

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-3 - SECURITY TRAINING TAX CREDIT › Section 5-3.1 - General

Current through Register Vol. 46, No. 28, July 10, 2024
(Tax Law, sections 26, 210-B(21))
(a) A corporation that is a qualified
					 building owner, as defined under section 26(b)(1), and that has been issued a
					 certificate of tax credit by the New York State Office of Homeland Security, is
					 allowed to claim a credit against the tax imposed by article 9-A. The amount of
					 the credit allowed is $3,000 for each qualified security officer, as defined
					 under section 26(b)(4), who is directly or indirectly employed to provide
					 protection to the corporation's building or buildings for a full year. However,
					 the amount of the credit may be reduced due to the limitation placed on the
					 total amount of all tax credits issued by the New York State Office of Homeland
					 Security in any calendar year. In the case of a qualified security officer who
					 is employed for less than a full year, the amount of the credit is prorated to
					 reflect the length of such employment as provided in this section.
(b) The security training tax credit shall
					 not reduce the tax to less than the fixed dollar minimum tax. If the
					 corporation has excess security tax training credit after reducing the tax to
					 the fixed dollar minimum tax or the corporation otherwise pays the tax on the
					 fixed dollar minimum, the security training tax credit shall be treated as an
					 overpayment of tax to be credited or refunded.
(c) A corporation must submit a Claim for
					 Security Officer Training Credit on Form CT-631 when claiming the
					 credit.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-3 - SECURITY TRAINING TAX CREDIT › Section 5-3.2 - Definitions for purposes of the security training tax credit

Current through Register Vol. 46, No. 28, July 10, 2024
(Tax Law, sections 26, 210-B(21))
(a) The term "full year" means 1,750
					 qualified hours worked during the calendar year.
(b) The term "qualified hours" means hours
					 worked, directly or indirectly, as a qualified security officer for the
					 qualified building owner.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-3 - SECURITY TRAINING TAX CREDIT › Section 5-3.3 - Prorating the security training tax credit for security officers employed for less than a full year

Current through Register Vol. 46, No. 28, July 10, 2024
(Tax Law, sections 26, 210-B(21))
(a) In the case of a qualified security
					 officer who is employed for less than a full year, the amount of the security
					 training tax credit is prorated.
(b) The prorated amount of the credit for a
					 qualified security officer employed for less than a full year is computed as
					 follows:
(1) ascertain the number of qualified
					 hours worked by the qualified security officer during the calendar year
					 (limited to 1,750 hours);
(2)
					 divide the number of hours by 1,750; and
(3) multiply the result by $3,000.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-3 - SECURITY TRAINING TAX CREDIT › Section 5-3.4

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-3 - SECURITY TRAINING TAX CREDIT › Section 5-3.5

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-4 - [Repealed] › Section 5-4.1

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-4 - [Repealed] › Section 5-4.2

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-4 - [Repealed] › Section 5-4.3

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-5 - [Repealed] › Section 5-5.1

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-5 - [Repealed] › Section 5-5.2

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-5 - [Repealed] › Section 5-5.3

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-5 - [Repealed] › Section 5-5.4

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-7 - [Repealed] › Section 5-7.1

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-7 - [Repealed] › Section 5-7.2

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-7 - [Repealed] › Section 5-7.3

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-8 - [Repealed] › Section 5-8.1

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-8 - [Repealed] › Section 5-8.2

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-8 - [Repealed] › Section 5-8.3

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-8 - [Repealed] › Section 5-8.4

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-8 - [Repealed] › Section 5-8.5

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-9 - [Repealed] › Section 5-9.1

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-9 - [Repealed] › Section 5-9.2

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-9 - [Repealed] › Section 5-9.3

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-9 - [Repealed] › Section 5-9.4

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-9 - [Repealed] › Section 5-9.5 - Repealed

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-9 - [Repealed] › Section 5-9.6 - Repealed

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-9 - [Repealed] › Section 5-9.7 - Repealed

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-10 - [Repealed] › Section 5-10.1

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-10 - [Repealed] › Section 5-10.2

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-10 - [Repealed] › Section 5-10.3

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-10 - [Repealed] › Section 5-10.4

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-10 - [Repealed] › Section 5-10.5

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-10 - [Repealed] › Section 5-10.6

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-10 - [Repealed] › Section 5-10.7

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-10 - [Repealed] › Section 5-10.8

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-10 - [Repealed] › Section 5-10.9

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-11 - [Repealed] › Section 5-11.1

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-11 - [Repealed] › Section 5-11.2

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-11 - [Repealed] › Section 5-11.3

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-11 - [Repealed] › Section 5-11.4

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 5 - CREDITS AGAINST TAX › Subpart 5-11 - [Repealed] › Section 5-11.5

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 6 - REPORTS › Subpart 6-1 - GENERAL REQUIREMENTS › Section 6-1.1 - Corporations required to file reports

Current through Register Vol. 46, No. 28, July 10, 2024
(Tax Law, section 211(1))
Reports are required to be filed annually by:
(a) every corporation subject to tax,
					 regardless of the amount of its business income, capital or receipts;
(b) every receiver, referee, trustee,
					 assignee or other fiduciary, or other officer or agent appointed by any court
					 that conducts the business of any corporation subject to tax under article
					 9-A;
(c) every corporation that
					 continues in business after it is dissolved; and
(d) every taxable domestic international
					 sales corporation (DISC).
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 6 - REPORTS › Subpart 6-1 - GENERAL REQUIREMENTS › Section 6-1.2 - Short period reports

Current through Register Vol. 46, No. 28, July 10, 2024
(Tax Law, section 211(1))
(a) Except as provided in subdivision (c), a
					 short period report is required in the case of:
(1) a newly organized taxpayer whose first
					 accounting period is less than 12 months;
(2) a foreign corporation that becomes
					 subject to tax in New York State subsequent to the commencement of its Federal
					 accounting period;
(3) a taxpayer
					 that dissolves, merges, consolidates or ceases to be subject to tax in New York
					 State prior to the close of its accounting period for Federal income tax
					 purposes;
(4) a taxpayer that
					 changes its accounting period for Federal income tax purposes;
(5) a taxpayer that becomes part of or ceases
					 to be part of a Federal consolidated group during the year; or
(6) a taxpayer that changes from one Federal
					 consolidated group to another Federal consolidated group during the
					 year.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 6 - REPORTS › Subpart 6-1 - GENERAL REQUIREMENTS › Section 6-1.3 - Reports where Federal income is changed

Current through Register Vol. 46, No. 28, July 10, 2024
(Tax Law, section 211(3))
(a) General. If the amount of the taxable
					 income of any corporation or of any shareholder of any corporation that has
					 elected to be taxed under Subchapter S of chapter one of the IRC, as reported
					 for Federal income tax purposes, is changed or corrected by a final
					 determination of the Commissioner of Internal Revenue or other officer of the
					 United States or other competent authority, or if a renegotiation of a contract
					 or subcontract with the United States results in a change in taxable income,
					 the corporation is required to report the changed or corrected taxable income
					 or the results of the renegotiation within 90 days, or 120 days in the case of
					 a corporation making a combined report for the taxable year affected, after the
					 final determination. The corporation must concede the accuracy of the
					 determination or explain how it is erroneous.
(b) Final determination. Any deficiency
					 notice issued (including a notice issued pursuant to a waiver filed by a
					 corporation) pursuant to the provisions of the IRC is a final determination
					 unless a timely petition to redetermine the deficiency is filed in the Tax
					 Court of the United States. If a petition is filed, the judgment of the court
					 of last resort is the final determination. The allowance by the Commissioner of
					 Internal Revenue of a refund of any part of the tax shown on the taxpayer's
					 Federal return or of any deficiency thereafter assessed, whether the refund is
					 made on the commissioner's own motion or pursuant to the judgment of a court,
					 is also a final determination. The allowance of a tentative carry-back
					 adjustment in accordance with IRC section 6411 based on a net operating loss
					 carry-back or a net capital loss carry-back must be treated as a final
					 determination. Any settlement or closing agreement entered into between the
					 taxpayer and the IRS or any consent to IRS audit findings signed by the
					 taxpayer also is a final determination.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 6 - REPORTS › Subpart 6-1 - GENERAL REQUIREMENTS › Section 6-1.4 - Amended Federal return

Current through Register Vol. 46, No. 28, July 10, 2024
(Tax Law, section 211(3))
Any corporation that files an amended return with the
						Internal Revenue Service must, within 90 days (or 120 days in the case of a
						corporation included in a combined report) thereafter, file an amended report
						with the Commissioner.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 6 - REPORTS › Subpart 6-2 - COMBINED REPORTS › Section 6-2.1 - General

Current through Register Vol. 46, No. 28, July 10, 2024
(Tax Law, section 210-C)
(a) A combined report covering any taxpayer
					 and another corporation or corporations is required where:
(1) the capital stock requirement is met;
					 and
(2) the unitary business
					 requirement is met.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 6 - REPORTS › Subpart 6-2 - COMBINED REPORTS › Section 6-2.2 - Capital stock requirement

Current through Register Vol. 46, No. 28, July 10, 2024
(Tax Law, section 210-C)
(a) A taxpayer and another corporation meet
					 the capital stock requirement if:
(1) the
					 taxpayer owns or controls, either directly or indirectly, more than 50% of the
					 voting power of the capital stock of another corporation; or
(2) more than 50% of the voting power of the
					 capital stock of the taxpayer is owned or controlled, either directly or
					 indirectly, by another corporation; or
(3) more than 50% of the voting power of the
					 capital stock of the taxpayer and more than 50% of the voting power of the
					 capital stock of one or more other corporations are owned or controlled, either
					 directly or indirectly, by the same interests. Whether or not the same
					 interests test is met will be determined based on the facts and circumstances
					 of each case. The same interests include, but are not limited to, one or more
					 alien, foreign or domestic corporations, partnerships, trusts or
					 individuals.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 6 - REPORTS › Subpart 6-2 - COMBINED REPORTS › Section 6-2.3 - Unitary business requirement

Current through Register Vol. 46, No. 28, July 10, 2024
(Tax Law, section 210-C)
(a) General. For purposes of this Subchapter,
					 the term "unitary business" shall be construed to the broadest extent permitted
					 under the U.S. Constitution as interpreted by the U.S. Supreme Court, the
					 courts of this state and the New York State Tax Appeals Tribunal.
(b) Attributes of a unitary business.
(1) A unitary business is characterized by a
					 flow of value as evidenced by functional integration, centralized management
					 and economies of scale.
(i) Functional
					 integration is characterized by transfers between, or pooling among, business
					 activities that significantly affect the operation of the business activities.
					 Functional integration includes, but is not limited to, transfers or pooling
					 with respect to the business's products or services, technical information,
					 marketing information, distribution systems, purchasing and intangibles. The
					 use of market-based or arm's length pricing for such transactions does not
					 negate the presence of functional integration.
(ii) Centralized management exists when
					 directors, officers, and/or other management employees jointly participate in
					 the management decisions that affect the respective business activities and
					 that may also operate to the benefit of the entire economic enterprise.
					 Centralized management may exist even when day-to-day management responsibility
					 and accountability have been decentralized, so long as the management has an
					 operational role with respect to the business activities, such as participation
					 in overall operational strategy for the business.
(iii) Economies of scale refers to a
					 relationship among and between business activities resulting in a significant
					 decrease in the average per unit cost of operational or administrative
					 functions due to the increase in operational size. Economies of scale may exist
					 from the inherent cost savings that arise from the presence of functional
					 integration or centralized management.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 6 - REPORTS › Subpart 6-2 - COMBINED REPORTS › Section 6-2.4 - Combined group composition

Current through Register Vol. 46, No. 28, July 10, 2024
(a) If
					 the commonly owned group election is not in effect, the following steps must be
					 taken annually to determine if a combined report is required and, if so, which
					 corporations to include in the combined group:
(1) A taxpayer must first identify all of the
					 corporations with which it is engaged in a unitary business. This includes
					 domestic, foreign and alien corporations.
(2) Of the group of corporations determined
					 in paragraph (1) of this subdivision, a taxpayer must exclude any corporation
					 that does not meet the capital stock requirement.
(3) Of the corporations remaining after
					 paragraph (2) of this subdivision, any corporation prohibited from being
					 included in a combined report must be excluded. The corporations remaining
					 constitute the combined group for the taxable year.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 6 - REPORTS › Subpart 6-2 - COMBINED REPORTS › Section 6-2.5 - Filing combined reports

Current through Register Vol. 46, No. 28, July 10, 2024
(Tax Law, section 210-C)
(a)
(1) As
					 provided in this Subpart, a group of corporations may be required or, in the
					 case of the commonly owned group election, permitted to file on a combined
					 basis. To file on a combined basis, the designated agent of the group must file
					 a completed combined report. The first year the designated agent of the group
					 files on a combined basis, and each year thereafter in which the composition of
					 the group changes, the designated agent of the group must include the following
					 information with the report:
(i) the exact
					 name, address, employer identification number and state of incorporation, or,
					 in the case of an alien corporation, country of incorporation, of each
					 corporation included in the combined report, including the designated agent;
					 and
(ii) information showing that
					 each of the corporations meets the capital stock requirement for the taxable
					 year.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 6 - REPORTS › Subpart 6-2 - COMBINED REPORTS › Section 6-2.6 - Corporations prohibited from filing a combined report

Current through Register Vol. 46, No. 28, July 10, 2024
(Tax Law, section 210-C)
(a) The following corporations are prohibited
					 from being included in a combined report under article 9-A, including a
					 combined report under the commonly owned group election:
(1) a corporation that is taxable under a
					 franchise tax imposed by article 9 or article 33;
(2) a corporation that would be taxable under
					 a franchise tax imposed by article 9 or article 33 if subject to tax;
(3) a real estate investment trust (REIT)
					 that is not a captive REIT, provided the REIT must be included in a combined
					 report with its qualified REIT subsidiary;
(4) a regulated investment company (RIC) that
					 is not a captive RIC, provided the RIC must be included in a combined report
					 with its subsidiary;
(5) a New York
					 S corporation; or
(6) an alien
					 corporation that under any provision of the IRC is not treated as a "domestic
					 corporation" as defined in IRC section 7701 and has no effectively connected
					 income for the taxable year.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter A - Business Corporation Franchise Tax › Part 6 - REPORTS › Subpart 6-2 - COMBINED REPORTS › Section 6-2.7 - Commonly owned group election

Current through Register Vol. 46, No. 28, July 10, 2024
(Tax Law, section 210-C)
(a)
(1)
					 Subject to the restrictions in section
					 6-2.6  of this Subpart, a taxpayer
					 may elect to treat as its combined group all corporations that meet the capital
					 stock requirement (such corporations are collectively referred to as the
					 "commonly owned group"). If the election is made, all of the corporations that
					 are members of the commonly owned group are bound by the election and will be
					 treated as the members of a single combined group for combined reporting
					 purposes, regardless of whether:
(i) these
					 corporations are included in more than one Federal consolidated return filed by
					 more than one Federal consolidated group, or
(ii) these corporations in fact are engaged
					 in one or more unitary businesses.