20 NYCRR § 1-2.12
Change of classification
# (a)
A corporation subject to tax under article 9-A may, by reason of a change in the nature of its activities or a change in the ownership or control of the voting powers of its capital stock, cease to be subject to such tax and become taxable under some other article. Conversely, a corporation subject to tax under some other article may, for the same reasons, cease to be taxable thereunder and become subject to tax under article 9-A. The date on which any such change of classification becomes effective will be determined by the facts of each case.
# (b)
A corporation that becomes subject to tax under article 9-A during one of its fiscal or calendar years by reason of a change in classification is treated in the same manner as a corporation that became subject to tax during such year.
# (c)
A corporation that ceases to be subject to the franchise tax imposed by article 9-A during one of its fiscal or calendar years by reason of a change of classification is treated, insofar as article 9-A is concerned, in the same manner as a corporation that is dissolved or ceases to be taxable in New York State during such year.
Source: official source document (DTF adopted rule text, December 2023 corporate reform)
In this part (27 sections)
- 1-1.1 · General
- 1-1.2 · Corporation
- 1-1.3 · Credit cards
- 1-1.4 · Effectively connected income
- 1-1.5 · Partnership and partner
- 1-1.6 · Real property
- 1-1.7 · Regularly traded on an established securities market
- 1-1.8 · Non-captive REIT and non-captive RIC
- 1-1.9 · Report
- 1-1.10 · S corporation
- 1-1.11 · Stock
- 1-1.12 · Tangible personal property
- 1-1.13 · Taxable year
- 1-1.14 · Taxpayer
- 1-2.1 · Domestic corporations subject to tax
- 1-2.2 · Foreign corporations subject to tax. General
- 1-2.3 · Foreign corporations - partnership interests
- 1-2.4 · Foreign corporation – doing business
- 1-2.5 · Foreign corporation – employing capital
- 1-2.6 · Foreign corporation – owning or leasing property
- 1-2.7 · Foreign corporation – maintaining an office
- 1-2.8 · Foreign corporation – deriving receipts
- 1-2.9 · Activities deemed insufficient to subject foreign corporations…
- 1-2.10 · Foreign corporations – Public Law 86-272
- 1-2.11 · Corporations not subject to tax
- 1-2.12 · Change of classification
- 1-2.13 · Examples