20 NYCRR § 4-2.13
Brokerage commissions
# (a)
In the case of a registered securities broker or dealer, receipts constituting brokerage commissions derived from the execution of purchase or sale orders for securities or commodities for customers shall be deemed to be generated within New York State if the corporation’s records indicate the mailing address of the customer who is responsible for paying such commissions is in New York State.
# (b)
Example.
Broker X earns $10,000 in brokerage commission income from investment advisor Y to execute trades for investment fund Z. Investment advisor Y is responsible for paying the commission to Broker X but passes on the brokerage commission expense to its investors in the form of fees. Broker X’s records indicate that the mailing address of investment advisor Y is within New York State and investment fund Z’s mailing address is in state
A. Because Investment advisor Y is the customer responsible for paying the brokerage commission to Broker X and its mailing address in Broker X’s records is in New York State, $10,000 is included in both New York receipts and everywhere receipts.
Source: official source document (DTF adopted rule text, December 2023 corporate reform)
In this part (40 sections)
- 4-1.1 · Definitions
- 4-1.2 · General rules for apportionment
- 4-1.3 · Lump sum payments
- 4-1.4 · Installment sales
- 4-1.5 · Apportionment on combined reports
- 4-1.6 · Power of the Commissioner of Taxation and Finance to adjust the…
- 4-1.7 · Federal changes
- 4-2.1 · Receipts and net gains from the sale of tangible personal…
- 4-2.2 · Net gains from the sale of real property
- 4-2.3 · Receipts from rents and royalties
- 4-2.4 · Net income from qualified financial instruments for…
- 4-2.5 · Interest income and net gains from loans
- 4-2.6 · Interest income and net gains from asset backed securities and…
- 4-2.7 · Interest income and net gains from corporate bonds
- 4-2.8 · Net interest income from reverse repurchase agreements and…
- 4-2.9 · Net interest income from Federal funds
- 4-2.10 · Net income from commodities
- 4-2.11 · Marked to market net gains
- 4-2.12 · Interest income, net gains, and other income from other…
- 4-2.13 · Brokerage commissions
- 4-2.14 · Receipts from credit cards and similar activities
- 4-2.15 · Receipts received by credit card processors
- 4-2.16 · Receipts from railroad, trucking and omnibus businesses
- 4-2.17 · Receipts from the sale of advertising
- 4-3.1 · Definitions
- 4-3.2 · General Principles
- 4-3.3 · Special rules for determining primary use location
- 4-3.4 · General rule for determining primary use location
- 4-3.5 · Reasonable approximation based on customer information
- 4-3.6 · Reasonable approximation based on general information
- 4-3.7 · Where received method
- 4-3.8 · Rules for intermediary transactions
- 4-3.9 · Preceding taxable year method
- 4-3.10 · Current taxable year method
- 4-3.11 · Examples
- 4-4.1 · Definitions
- 4-4.2 · General Principles
- 4-4.3 · Special rules for determining where the benefit is received
- 4-4.4 · General rule for determining where the benefit is received
- 4-4.5 · Reasonable approximation based on customer information