Statutes, codes, and regulations
New York Codes, Rules and Regulations
Title 20 - DEPARTMENT OF TAXATION AND FINANCEChapter I - Franchise and Certain Business TaxesSubchapter A - Business Corporation Franchise TaxPart 3 - COMPUTATION OF TAX
Subpart 3-8 - COMPUTATION OF THE PRIOR NET OPERATING LOSS CONVERSION (PNOLC) SUBTRACTION
Section 3-8.10 - Impact of certain corporate acquisitions on the PNOLC subtraction

N.Y. Comp. Codes R. & Regs. tit. 20 § 3-8.10

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Current through Register Vol. 46, No. 25, June 18, 2024
Section 3-8.10 - Impact of certain corporate acquisitions on the PNOLC subtraction

In a transaction to which IRC section 381(a) applies, the acquiring corporation shall succeed to the balance of the PNOLC subtraction allotments and unused PNOLC subtraction carryforward of the distributor or transferor corporation, subject to the same restrictions and limitations on the use of the PNOLC subtraction allotments and unused PNOLC subtraction carryforward to which the distributor or transferor corporation was subject.

N.Y. Comp. Codes R. & Regs. Tit. 20 § 3-8.10

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