New York Codes, Rules and Regulations
Title 20 - DEPARTMENT OF TAXATION AND FINANCE
Chapter I - Franchise and Certain Business Taxes
Subchapter A - Business Corporation Franchise Tax
Part 1 - IMPOSITION OF TAX
Subpart 1-2 - CORPORATIONS SUBJECT TO TAX
Section 1-2.9 - Activities deemed insufficient to subject foreign corporations to tax

(1) the maintenance of cash balances with banks or trust companies in New York State;

(2) the ownership of shares of stock or securities kept in New York State in a safe deposit box, safe, vault or other receptacle rented for this purpose, or if pledged as collateral security, or if deposited in safekeeping or custody accounts with one or more banks or trust companies, or brokers who are members of a recognized security exchange;

(3) the taking of any action by any such bank or trust company or broker that is incidental to the rendering of safekeeping or custodian service to such corporation;

(4) the maintenance of an office in New York State by one or more officers or directors of the corporation who are not employees of the corporation;

(5) the keeping of books or records of a corporation in New York State, if such books or records are not kept by employees of such corporation;

(6) the participation in a trade show or shows, regardless of whether the corporation has employees or other staff present at such trade shows, provided the corporation's activity at the trade show is limited to displaying goods or promoting services, no sales are made, any orders received are sent outside New York State for acceptance or rejection and are filled from outside New York State, and provided that such participation is for not more than 14 days, or part thereof, in the aggregate during the corporation's taxable year for Federal income tax purposes;

(7) the mere acquisition of one or more security interests in real or tangible personal property located in New York State;

(8) the mere acquisition of title to property located in New York State through the foreclosure of a security interest;

(9) the mere holding of meetings of the board of directors in New York State, where such directors are not employees of the corporation; or

(10) any combination of the foregoing activities.

(1) An alien corporation will not be deemed to be doing business, employing capital, owning or leasing property in a corporate or organized capacity, maintaining an office or deriving receipts from activity in New York State if its activities in New York State are limited solely to investing or trading for its own account in:

(2) An alien corporation that under any provision of the IRC is not treated as a domestic corporation as defined in IRC section 7701 and does not have effectively connected income for the taxable year will not be subject to tax under article 9-A.