N.Y. Comp. Codes R. & Regs. Tit. 20 §§ 3-1.4

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

Section 3-1.4 - Fixed dollar minimum tax

(a) Generally, the fixed dollar minimum is the measure of the tax if such calculation results in an amount of tax that is greater than or equal to the business income base tax and greater than or equal to the capital base tax. The amount of the fixed dollar minimum tax determined in section 210(1)(d) varies by the amount of New York receipts and the type of taxpayer.

(b)

(1) Where a group of corporations files a combined report, the fixed dollar minimum tax attributable to the designated agent generally is the measure of the tax for the combined group if such calculation results in an amount of tax greater than or equal to the combined business income base tax and greater than or equal to the combined capital base tax. In addition, the tax on a combined report must include the fixed dollar minimum tax for each member of the combined group that is a taxpayer, other than the designated agent. Any corporation included in the combined report that is not a taxpayer is not required to pay a fixed dollar minimum tax.

(2) Each taxpayer member of the combined group, including the designated agent, must compute its own fixed dollar minimum tax based on its own New York receipts. Such receipts must be computed on a separate company basis and determined without the consideration of intercorporate eliminations or deferrals.

(c) For purposes of calculating the fixed dollar minimum tax, New York receipts are the receipts included in the numerator of the apportionment factor for the taxable year.

N.Y. Comp. Codes R. & Regs. Tit. 20 §§ 3-1.4

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