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 3 - COMPUTATION OF TAX
Subpart 3-7 - CAPITAL LOSSES
Section 3-7.2 - New York business capital gains or losses in taxable years beginning on or after January 1, 2015
Universal Citation: 20 NY Comp Codes Rules and Regs § 3-7.2
Current through Register Vol. 47, No. 12, March 26, 2025
(a) Definitions.
(1) "New York business capital
gains or losses" means the amount of Federal capital gains generated or losses
sustained in taxable years beginning on or after January 1, 2015, that are
attributable to business capital.
(2) "New York net business capital gain"
means the amount of New York business capital gains in excess of New York
business capital losses for the taxable year.
(3) "New York net business capital loss"
means the amount of New York business capital losses in excess of New York
business capital gains for the taxable year.
(b) New York business capital gains generated or losses sustained do not include any amount of Federal capital gains generated or losses sustained in:
(1) an
article 9-A non-filing year;
(2) a
New York S year;
(3) a non-captive
REIT filing year;
(4) a non-captive
RIC filing year; or
(5) a
non-combinable captive insurance company filing year.
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