N.Y. General City Model Law § 22

Current through 2024 NY Law Chapter 553

Section 22 - Items not deductible

In computing net income no deduction shall in any case be allowed in respect of:

(a) Any amount paid out for new buildings or for permanent improvements or betterments made to increase the value of any property.

(b) Any amount expended in restoring property or in making good the exhaustion thereof for which an allowance is or has been made.

N.Y. General City Model Law § 22