20 NYCRR § 32.1
General
# (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:
# (1)
the capital stock requirement is met; and
# (2)
there are substantial intercorporate transactions among the related corporations.
# (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.
Source: official source document (DTF adopted rule text, December 2023 corporate reform)
In this part (8 sections)
- 32.1 · General
- 32.2 · Capital stock requirement
- 32.3 · Substantial intercorporate transactions generally
- 32.4 · Substantial intercorporate transactions receipts and…
- 32.5 · Substantial intercorporate transactions based on asset transfers
- 32.6 · Combined group composition
- 32.8 · Corporations not required or permitted to file a combined return
- 32.9 · Examples