N.Y. General City Model Law § 33
Current through 2024 NY Law Chapters 1-59 and 61-121
Corporations which are affiliated may, if authorized, and shall, if required, by the director of finance, under regulations prescribed by the director of finance, make a consolidated return for the purpose of this part. In any case in which a tax is assessed upon the basis of a consolidated return, the total tax shall be computed in the first instance as a unit and shall then be assessed upon the respective affiliated corporations in such proportions as may be agreed upon among them, or in the absence of any such agreement, then on the basis of the net income properly assignable to each.
N.Y. General City Model Law § 33