20 CRR-NY 21-2.1NY-CRR
20 CRR-NY 21-2.1
20 CRR-NY 21-2.1
21-2.1 General.
Tax Law, § 1462(f)
(a) Each banking corporation (as defined in section 16-2.5 of this Title) or bank holding company (as defined in section 16-2.4 of this Title) is a separate taxable entity and must file its own return. However, where the requirements described in sections 21-2.2 and 21-2.3 of this Subpart are met, a group of banking corporations and bank holding companies may be required or permitted to file a combined return.
(b) Generally, each of the corporations to be included in the combined return must be a banking corporation or a bank holding company. (See section 1462[f][2][v][B] of the Tax Law for information relating to the inclusion of captive REIT and captive RIC in a combined return.)
(c) A corporation organized under the laws of the United States, New York State or any other state may not be included in a combined return with an alien corporation (a corporation organized under the laws of a country other than the United States). That is, an alien corporation can only be included in a combined return with other alien corporations.
(d) It is not necessary that all corporations included in a combined return have the same accounting period. (See section 21-3.2 of this Part – Form of combined returns.)
(e) For purposes of this Subpart, the provisions of subparagraph (iii) and the examples in section 16-2.5(j)(1)(iv) of this Title, relating to ownership and control, apply.
20 CRR-NY 21-2.1
Current through February 28, 2023
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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.