View Document - Unofficial New York Codes, Rules and Regulations

20 CRR-NY 18-6.2NY-CRR

STATE COMPILATION OF CODES, RULES AND REGULATIONS OF THE STATE OF NEW YORK

TITLE 20. DEPARTMENT OF TAXATION AND FINANCE

CHAPTER I. FRANCHISE AND CERTAIN BUSINESS TAXES

SUBCHAPTER B. FRANCHISE TAX ON BANKING CORPORATIONS

PART 18. COMPUTATION OF TAX

SUBPART 18-6. ALTERNATIVE MINIMUM TAX MEASURED BY THE FIXED MINIMUM AMOUNT

20 CRR-NY 18-6.2

18-6.2 The alternative minimum tax measured by the fixed minimum amount on a combined return.

Tax Law, § 1462(f)

(a) Where the tax as computed on a combined return is measured by combined entire net income (see section 18-2.6 of this Part), or is measured by combined alternative entire net income (see section 18-4.2 of this Part), or is measured by combined taxable assets (see section 18-5.6 of this Part), each corporation included in the combined return, except:

(1) the taxpayer paying the combined tax; and

(2) any corporation described in subdivision (b) of this section;

is required to pay the fixed minimum tax of $250. The taxpayer paying the combined tax will pay the alternative minimum tax measured by $250 when $250 is the largest of the alternative minimum bases and the alternative minimum tax is greater than the basic tax.

(b) A corporation which is not a taxpayer (see Subpart 16-3 of this Title) is not required to pay the fixed minimum tax of $250 when included in a combined return.

20 CRR-NY 18-6.2

Current through February 28, 2023

End of Document

IMPORTANT NOTE REGARDING CONTENT CURRENCY: The "Current through" date indicated immediately above is the date of the most recently produced official NYCRR supplement covering this rule section. For later updates to this section, if any, please: consult editions of the NYS Register published after this date; or contact the NYS Department of State Division of Administrative Rules at [email protected]. See Help for additional information on the currency of this unofficial version of NYS Rules.