N.Y. Comp. Codes R. & Regs. Tit. 20 §§ 3-1.1

Current through Register Vol. 46, No. 51, December 18, 2024

Section 3-1.1 - Computation of tax

(Tax Law, section 210(1) and (1-c))

(a) Generally, a corporation subject to the tax imposed by article 9-A is required to pay a tax computed by one of the three bases set forth in this subdivision and must pay whichever results in the highest tax:

(1) the business income base tax;

(2) the capital base tax; and

(3) the fixed dollar minimum tax.

(b) A qualified homeowners association, as defined in section 210(1), is required only to pay the greater of the business income base tax or the capital base tax.

(c) For special rules concerning domestic international sales corporations (DISCs), REITs, RICs, New York S corporations, and corporate partners, see Part 9 of this Subchapter.

(d) For the computation of tax on a combined report, see Subpart 6-2 of this Subchapter.

N.Y. Comp. Codes R. & Regs. Tit. 20 §§ 3-1.1

Adopted New York State Register December 27, 2023/Volume XLV, Issue 52, eff. 12/27/2023