N.Y. Comp. Codes R. & Regs. tit. 20 § 6-2.6

Current through Register Vol. 46, No. 24, June 12, 2024

Section 6-2.6 - Corporations prohibited from filing a combined report

(Tax Law, section 210-C)

(a) The following corporations are prohibited from being included in a combined report under article 9-A, including a combined report under the commonly owned group election:

(1) a corporation that is taxable under a franchise tax imposed by article 9 or article 33;

(2) a corporation that would be taxable under a franchise tax imposed by article 9 or article 33 if subject to tax;

(3) a real estate investment trust (REIT) that is not a captive REIT, provided the REIT must be included in a combined report with its qualified REIT subsidiary;

(4) a regulated investment company (RIC) that is not a captive RIC, provided the RIC must be included in a combined report with its subsidiary;

(5) a New York S corporation; or

(6) an alien corporation that under any provision of the IRC is not treated as a "domestic corporation" as defined in IRC section 7701 and has no effectively connected income for the taxable year.

(b) If a corporation is subject to tax under article 9-A solely as a result of its ownership of a limited partner interest in a limited partnership, as described in section 1-2.3(b) of this Subchapter or its membership interest in a limited liability company that is equated to the interest of a limited partner, as described in section 1-2.3(d) of this Subchapter, and none of the corporation's related corporations are subject to tax under article 9-A, the corporation shall not be required or permitted to file a combined report with such related corporations.

For purposes of this Subpart, the term "related corporations" means corporations that meet the capital stock requirement and the unitary business requirement.

N.Y. Comp. Codes R. & Regs. Tit. 20 § 6-2.6

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