N.Y. Comp. Codes R. & Regs. Tit. 20 §§ 1-1.14

Current through Register Vol. 46, No. 45, November 2, 2024

Section 1-1.14 - Taxpayer

Tax Law, sections 208(2), 209(3)

(a) The term "taxpayer" means any corporation that is subject to the tax imposed by article 9-A.

(b) The term "taxpayer" also includes a receiver, referee, trustee, assignee or other fiduciary, or any officer or agent appointed by state or Federal court, who conducts the business of a corporation. For example, a trustee who, under the authority of a Federal court, conducts the business of a corporation in bankruptcy is a taxpayer subject to tax. If the activities of the trustee are limited to the liquidation of the business and the disposition of the assets of the corporation, neither the trustee nor the corporation is subject to the franchise tax.

(c) The term "taxpayer" also includes a corporation that continues to do business after it has been dissolved or surrenders its authority to do business in New York, by proclamation or otherwise. A dissolved corporation or a corporation that surrendered its authority to do business in New York is not taxable under article 9-A if its activities are limited to the liquidation of its business and affairs, the disposition of its assets (other than in the regular course of business), and the distribution of the proceeds.

N.Y. Comp. Codes R. & Regs. Tit. 20 §§ 1-1.14

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