Pursuant to section 207.4 of the State Administrative Procedure Act, the Department of Taxation and Finance hereby gives notice of the following:

As part of the Department's 2007 review of regulations that were adopted during 1997 and 2002, it has reviewed amendments to 20 NYCRR Part 6 (CT-4 Filing Rules) that were adopted in 1997. These regulations amended the Business Corporation Franchise Tax Regulations to eliminate certain restrictions on who may file Form CT-4, General Business Corporation Franchise Tax Return Short Form, thereby increasing the number of taxpayers eligible to file the short form. The statutory authority for the rule is contained in sections 171, subd. First, and section 1096(a) of the Tax Law. These regulations were previously reviewed as part of the Department's 2002 Rule Review published in the State Register on January 2, 2002, and were continued without modification. Notice of the 2002 continuance was published in the Rule Review section of the July 24, 2002, issue of the State Register.

These regulations are once again being continued without modification because the regulations continue to allow more taxpayers to be eligible to file Form CT-4, General Business Corporation Franchise Tax Return Short Form. There have been no statutory amendments or changes in policy to warrant any modification of the regulation.

A summary of the regulations was published in the Rule Review section of the January 3, 2007, issue of the State Register. The 2007 Rule Review, including the summary, was also posted to the Department's Web site (http://www.tax.state.ny.us/rulemaker/regulations/fiveyearrev.htm) on January 2, 2007. The Department did not receive any public comments regarding this regulation.

For further information contact: John W. Bartlett, Department of Taxation and Finance, Technical Services Division, Bldg. 9, W A Harriman Campus, Albany, NY 12227, (518) 457-2254