N.Y. Comp. Codes R. & Regs. tit. 20 § 3-8.4

Current through Register Vol. 46, No. 24, June 12, 2024
Section 3-8.4 - PNOLC subtraction - General

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

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