(a) If a period covered by a report is other than 12 calendar months, the amount of business capital and the amount of investment capital are each determined by multiplying its average value (see section 3-3.4 of this Subpart), by the number of calendar months or major parts thereof included in such period, and dividing the product by 12.

A foreign corporation begins to do business in New York State on June 10, 1992, and reports on a calendar year basis. The average value of its total investment capital for such year was $60,000, and the average value of its total business capital was $240,000. The amount of each class of capital, for purposes of computing the tax for taxable year 1992, is determined by multiplying each of the above amounts by seven (the months of June to December, inclusive) and dividing the product by 12, resulting in investment capital of $35,000 and business capital of $140,000.

(b) The business allocation percentage must also be adjusted for the period covered by the report. The method for adjusting the business allocation percentage is described in section 4-6.4 of this Title.