20 NYCRR § 6-2.6

Corporations prohibited from filing a combined report

Official textus-ny/regstax.ny.gov

# (a)

The following corporations are prohibited from being included in a combined report under article 9-
A, including a combined report under the commonly owned group election:

# (1)

a corporation that is taxable under a franchise tax imposed by article 9 or article 33;

# (2)

a corporation that would be taxable under a franchise tax imposed by article 9 or article 33 if subject to tax;

# (3)

a real estate investment trust (REIT) that is not a captive REIT, provided the REIT must be included in a combined report with its qualified REIT subsidiary;

# (4)

a regulated investment company (RIC) that is not a captive RIC, provided the RIC must be included in a combined report with its subsidiary;

# (5)

a New York S corporation; or

# (6)

an alien corporation that under any provision of the IRC is not treated as a “domestic corporation” as defined in IRC section 7701 and has no effectively connected income for the taxable year.

# (b)

If a corporation is subject to tax under article 9-A solely as a result of its ownership of a limited partner interest in a limited partnership, as described in section 1-2.3(b) of this Subchapter or its membership interest in a limited liability company that is equated to the interest of a limited partner, as described in section 1-2.3(d) of this Subchapter, and none of the corporation’s related corporations are subject to tax under article 9-A, the corporation shall not be required or permitted to file a combined report with such related corporations.
For purposes of this Subpart, the term “related corporations” means corporations that meet the capital stock requirement and the unitary business requirement.

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

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