Business income base tax

# (a)

# (1)

Generally, the business income base is the measure of the tax if such calculation results in an amount of tax greater than the capital base tax and greater than the fixed dollar minimum tax.

# (2)

The business income base is the corporation’s total business income apportioned to New York State minus the prior net operating loss conversion subtraction and the net operating loss deduction.

# (3)

To compute the tax measured by the business income base, the corporation must multiply its business income base by the tax rate specified in section 210(1)(a).

# (b)

# (1)

Where a group of corporations file a combined report, the combined business income base generally is the measure of the tax if such calculation results in an amount of tax greater than the combined capital base tax and greater than the fixed dollar minimum tax that is attributable to the designated agent of the combined group.

# (2)

The combined business income base is the total business income of the combined group apportioned to New York State minus the prior net operating loss conversion subtraction of the combined group and the net operating loss deduction of the combined group.

# (3)

To compute the tax measured by the combined business income base, the combined business income base is multiplied by the tax rate specified in section 210(1)(a).

# (c)

The business income base tax is not applicable to New York S corporations and DISCs.