N.Y. Comp. Codes R. & Regs. tit. 20 § 141.3

Current through Register Vol. 46, No. 45, November 2, 2024

Section 141.3 - Disallowance of credits against New York State minimum income tax

Tax Law, § 641(d)

The following credits against ordinary tax otherwise allowable under this Title are not allowed as credits against the New York State minimum income tax referred to in Part 102 of this Title:

(a) investment credit and retail enterprise credit (see section 106.1 of this Title);

(b) household credit (see section 106.2 of this Title);

(c) credit for certain household and dependent care services necessary for gainful employment (see section 106.3 of this Title);

(d) credit for sales or compensating use taxes paid on the purchase of any catalytic, purifying or bleaching chemical agent (see section 106.4 of this Title);

(e) mortgage recording tax credit (see section 106.6 of this Title);

(f) research and development credit (see section 106.8 of this Title); and

(g) credit to a nonresident beneficiary of a trust receiving an accumulation distribution (see Part 140 of this Title).

N.Y. Comp. Codes R. & Regs. Tit. 20 § 141.3