20 NYCRR § 3-8.4
PNOLC subtraction -- General
A corporation that has a UNOL must convert the UNOL to a PNOLC subtraction pool using the rules in section 3-8.6 of this Subpart. A taxpayer or combined group, in the case of a combined report, is then allowed a PNOLC subtraction as computed in sections 3-8.7 and 3-8.8 of this Subpart, applied before the NOL deduction, in the computation of its business income base. A taxpayer or combined group, in the case of a combined group, that is allowed a PNOLC subtraction in a taxable year, must claim that subtraction in that taxable year.
Source: official source document (DTF adopted rule text, December 2023 corporate reform)
In this part (40 sections)
- 3-3.3 · Subtraction modifications for community banks and thrifts
- 3-3.4 · Royalty modification
- 3-4.1 · Definition of investment capital
- 3-4.2 · Constitutionally protected investment capital
- 3-4.3 · Investment capital identification procedures
- 3-4.4 · Presumed investment capital that fails the holding period…
- 3-4.5 · Definition of investment income
- 3-4.6 · Definition of other exempt income
- 3-4.7 · Attribution of interest deductions
- 3-4.8 · Safe harbor reduction election
- 3-5.1 · Definition of business capital and capital base
- 3-5.2 · Definition of business income and the business income base
- 3-6.1 · Examples. The following are examples intended to address only…
- 3-7.1 · New York investment capital gains or losses in taxable years…
- 3-7.2 · New York business capital gains or losses in taxable years…
- 3-7.3 · Capital losses sustained in taxable years beginning before…
- 3-7.4 · Capital losses sustained in taxable years beginning on or after…
- 3-7.5 · Application of New York net capital losses
- 3-7.6 · Rules for combined reports
- 3-7.7 · Record keeping
- 3-7.8 · Examples
- 3-8.1 · Definitions
- 3-8.2 · Computation of the unabsorbed net operating loss (UNOL)
- 3-8.3 · Examples
- 3-8.4 · PNOLC subtraction -- General
- 3-8.5 · Corporations that are not allowed a PNOLC subtraction
- 3-8.6 · Computation of PNOLC subtraction pool
- 3-8.7 · Computation of the PNOLC subtraction
- 3-8.8 · Impact of combined group changes on the PNOLC subtraction
- 3-8.9 · Examples
- 3-8.10 · Impact of certain corporate acquisitions on the PNOLC…
- 3-8.11 · Record-keeping
- 3-8.12 · Subsequent changes
- 3-9.1 · Definitions
- 3-9.2 · Net operating loss deduction
- 3-9.3 · Application of NOLs
- 3-9.4 · Overpayments and underpayments resulting from NOL carrybacks
- 3-9.5 · Income from discharge of indebtedness
- 3-9.6 · Carryforwards in certain corporate reorganizations and…
- 3-9.7 · Examples