N.Y. Comp. Codes R. & Regs. tit. 20 § 3-8.5

Current through Register Vol. 46, No. 19, May 8, 2024

Section 3-8.5 - Corporations that are not allowed a PNOLC subtraction

The following corporations are not allowed a PNOLC subtraction:

(a) A corporation that does not have a UNOL, including a corporation that was a RIC in its base year;

(b) A corporation that had a base year BAP of zero percent, whether or not such corporation has a UNOL;

(c) A corporation that was a member of a combined group that had a base year BAP of zero percent, whether or not such corporation has a UNOL;

(d) A corporation that had a base year tax rate of zero percent, including a corporation that in its base year was a New York S Corporation, whether or not such corporation has a UNOL;

(e) A corporation that was a member of a base year combined group that had a base year tax rate of zero percent, whether or not such corporation has a UNOL;

(f) A corporation that in its base year was not a member of a combined group subject to tax under article 9-A or article 32 and that was not subject to tax itself under article 9-A or article 32, whether or not such corporation has a UNOL.

N.Y. Comp. Codes R. & Regs. Tit. 20 § 3-8.5

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