N.Y. Comp. Codes R. & Regs. tit. 20 § 6-2.4

Current through Register Vol. 46, No. 18, May 1, 2024

Section 6-2.4 - Combined group composition

(a) If the commonly owned group election is not in effect, the following steps must be taken annually to determine if a combined report is required and, if so, which corporations to include in the combined group:

(1) A taxpayer must first identify all of the corporations with which it is engaged in a unitary business. This includes domestic, foreign and alien corporations.

(2) Of the group of corporations determined in paragraph (1) of this subdivision, a taxpayer must exclude any corporation that does not meet the capital stock requirement.

(3) Of the corporations remaining after paragraph (2) of this subdivision, any corporation prohibited from being included in a combined report must be excluded. The corporations remaining constitute the combined group for the taxable year.

(b) If the commonly owned group election is in effect, the following steps must be taken annually to determine which corporations to include in the combined group:

(1) A taxpayer must first identify all of the corporations that meet the capital stock requirement. This includes domestic, foreign and alien corporations.

(2) Of the corporations determined in paragraph (1) of this subdivision, any corporation prohibited from being included in a combined report must be excluded. The remaining corporations constitute the combined group for the taxable year.

(3) The commonly owned group has no relationship to the taxpayer's Federal consolidated group and may, in fact, include corporations that are not, or cannot be, included in a Federal consolidated group with the taxpayer or corporations that are included in different Federal consolidated groups.

N.Y. Comp. Codes R. & Regs. Tit. 20 § 6-2.4

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