20 NYCRR § 3-8.5

Corporations that are not allowed a PNOLC subtraction

Official textus-ny/regstax.ny.gov

The following corporations are not allowed a PNOLC subtraction:

# (a)

A corporation that does not have a UNOL, including a corporation that was a RIC in its base year;

# (b)

A corporation that had a base year BAP of zero percent, whether or not such corporation has a
UNOL;

# (c)

A corporation that was a member of a combined group that had a base year BAP of zero percent, whether or not such corporation has a UNOL;

# (d)

A corporation that had a base year tax rate of zero percent, including a corporation that in its base year was a New York S Corporation, whether or not such corporation has a UNOL;

# (e)

A corporation that was a member of a base year combined group that had a base year tax rate of zero percent, whether or not such corporation has a UNOL;

# (f)

A corporation that in its base year was not a member of a combined group subject to tax under article 9-A or article 32 and that was not subject to tax itself under article 9-A or article 32, whether or not such corporation has a UNOL.

Source: official source document (DTF adopted rule text, December 2023 corporate reform)

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