N.Y. Comp. Codes R. & Regs. tit. 20 § 3-8.4
Current through Register Vol. 46, No. 25, June 18, 2024
A corporation that has a UNOL must convert the UNOL to a PNOLC subtraction pool using the rules in section 3-8.6 of this Subpart. A taxpayer or combined group, in the case of a combined report, is then allowed a PNOLC subtraction as computed in sections 3-8.7 and 3-8.8 of this Subpart, applied before the NOL deduction, in the computation of its business income base. A taxpayer or combined group, in the case of a combined group, that is allowed a PNOLC subtraction in a taxable year, must claim that subtraction in that taxable year.
N.Y. Comp. Codes R. & Regs. Tit. 20 § 3-8.4