New York Codes, Rules and Regulations
Title 20 - DEPARTMENT OF TAXATION AND FINANCE
Chapter I - Franchise and Certain Business Taxes
Subchapter C - Franchise Taxes On Insurance Corporations
Part 32 - COMBINED RETURNS
Section 32.1 - General
Current through Register Vol. 46, No. 12, March 20, 2024
(Tax Law, section 1515(f))
(a) Every corporation is a separate taxable entity and shall file its own return. However, certain taxpayers subject to tax under article 33 are required to file on a combined basis with related corporations where:
(b) Where the capital stock requirement is met and substantial intercorporate transactions are absent, a combined return covering corporations may be permitted or required if the commissioner deems such a return necessary because of inter-company transactions or some agreement, understanding, arrangement, or transaction referred to in section 1515(g), in order to properly reflect the tax liability under article 33.
