State Tax

New York State and City Corporation Income Taxes (Portfolio 2200)

  • This Portfolio discusses the structure and issues with respect to the New York State franchise tax on general business corporations and the New York City general corporation tax.

Description

The Tax Portfolio, New York State and City Corporation Income Taxes discusses how the State franchise tax on general business corporations consists of N.Y. Tax Law, Art. 9–A, §§ 208 through 219–a, while the City general corporation tax is found in N.Y. City Admin. Code, Subchapter 2, §§ 11–602 through 11–610.

As the term “general business corporation” suggests, neither Article 9–A nor Subchapter 2 addresses taxation of all types of corporations. Banks, insurance companies, public utilities, transportation companies (except airlines), and transmission companies are subject to taxation under other articles found in Chapter 60 of the New York Tax Law (and other subchapters of the City’s Administrative Code). This Portfolio does not address New York State and City taxation with respect to those corporations.

Table of Contents

2200.01. Introduction and Brief History
2200.02. Corporations Subject to Taxation
2200.03. Jurisdiction to Tax
2200.04. Tax On Entire Net Income Base – Description of the Tax Base
2200.05. Tax On Entire Net Income Base – Modifications Related to Subsidiary 2200.06. Entire Net Income – Other Significant Modifications
2200.07. Net Operating Loss Carryovers
2200.08. Investment Income And Capital
2200.09. Business Capital and Income and the Business Allocation Percentage
2200.10. Alternative Tax Bases
2200.11. New York Treatment Of S Corporations
2200.12. Tax Credits
2200.13. Combined Returns
2200.14. Administration

banigan_russell_2015
Russell Banigan
Deloitte LLP
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