N.Y. Comp. Codes R. & Regs. Tit. 20 §§ 1-2.5
Current through Register Vol. 46, No. 36, September 4, 2024
Tax Law, section 209(1)
The term employing capital is used in a comprehensive sense. Any of a large variety of uses, which may overlap other activities, may give rise to taxable status. In general, the use of assets in maintaining or aiding the corporate enterprise or activity in New York State will make the corporation subject to tax. Employing capital includes such activities as maintaining stockpiles of raw materials or inventories, or owning materials and equipment assembled for construction.
N.Y. Comp. Codes R. & Regs. Tit. 20 §§ 1-2.5