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 8 - METROPOLITAN TRANSPORTATION BUSINESS TAX SURCHARGE
Subpart 8-1 - GENERAL
Section 8-1.1 - Definitions

N.Y. Comp. Codes R. & Regs. Tit. 20 §§ 8-1.1

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Current through Register Vol. 46, No. 45, November 2, 2024
Section 8-1.1 - Definitions

(Tax Law, section 209-B)

(a)
(1) The term 'surcharge taxpayer" means every corporation other than a New York S corporation that is exercising its corporate franchise or doing business, employing capital, owning or leasing property in a corporate or organized capacity, maintaining an office or deriving receipts from activity in the Metropolitan Commuter Transportation District (MCTD).
(2) In the case of a combined group that has at least one corporation included in the combined report that is itself exercising its corporate franchise or doing business, employing capital, owning or leasing property in a corporate or organized capacity, maintaining an office or deriving receipts from activity in the MCTD, the term 'surcharge taxpayer" means every such corporation.
(i) Where the surcharge taxpayer is either permitted or required by a provision of this Part to take some action, such action shall be taken by the combined group's designated agent.
(ii) For purposes of determining the MCTD apportionment percentage, the term 'surcharge taxpayer" shall include each corporation properly includable in the combined report.
(b) The term 'surcharge base" means the tax imposed on the surcharge taxpayer due on such taxpayer's corporate franchise tax report, before the deduction of any credits allowed. In the case of a combined report, the term 'surcharge base" means the tax due on the combined report, before the deduction of any credits allowed, and also includes the amount of fixed dollar minimum tax for each member of the combined group that is itself exercising its corporate franchise or doing business, employing capital, owning or leasing property in a corporate or organized capacity, maintaining an office or deriving receipts from activity in the MCTD.
(c) The terms doing business, employing capital, owning or leasing property in a corporate or organized capacity or maintaining an office in the MCTD have the same meaning as in Subpart 1-2 of this Chapter, except that the definitions of such terms shall be adapted to this Part. For example: "tax surcharge" shall be substituted for "tax"; 'surcharge taxpayer" shall be substituted for "taxpayer"; "the MCTD" shall be substituted for "New York State" and "the state"; and "any corporation" shall be substituted for "foreign corporation".
(d) The term deriving receipts from activity has the same meaning as in section 1-2.8 of this Subchapter, except that the definition of such term shall be adapted to this Part. For example: "tax surcharge" shall be substituted for "tax"; "the MCTD" shall be substituted for "New York State" and "the state"; "and "any corporation" shall be substituted for "foreign corporation". "MCTD receipts" shall be substituted for "New York receipts" and determined under Subpart 8-4 of this Part.

N.Y. Comp. Codes R. & Regs. Tit. 20 §§ 8-1.1

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