N.Y. Comp. Codes R. & Regs. Tit. 20 §§ 1-1.10

Current through Register Vol. 46, No. 36, September 4, 2024

Section 1-1.10 - Scorporation

Tax Law, section 208(1-A)

(a) The term "S corporation" means a corporation for which the Federal S election under IRC section 1362 is in effect for the tax year. An S corporation includes a limited liability company that is classified as an S corporation for Federal income tax purposes.

(b) The term "New York S corporation" means an S corporation subject to tax under article 9-A that has made the election under section 660(a), or that has been mandated a New York S corporation under section 660(i).

N.Y. Comp. Codes R. & Regs. Tit. 20 §§ 1-1.10

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