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20 NYCRR § 9-1.4

Corporate Partners

Official textus-ny/regstax.ny.gov
Summarize

# (a)

A corporation that is a partner in a partnership filing under the aggregate method must combine its distributive share of receipts from the partnership with its own receipts in the computation of the principally engaged test.

# (b)

A corporation that is a partner in a partnership filing under the aggregate method must combine its proportionate part of the partnership’s qualified manufacturing property and qualified manufacturing employees with its own qualified manufacturing property and qualified manufacturing employees to determine if it is a qualified New York manufacturer.

# (c)

Under the aggregate method, the property, receipts, and employees of the partnership are deemed to be that of the corporate partner. As such, the rules of contract manufacturing do not apply to any partnership/corporate partner agreement regarding manufacturing.

# (d)

In determining whether a corporation that is a partner in a partnership filing under the entity method is a qualified New York manufacturer, the corporation does not consider any of the partnership’s property or employees in that determination. In addition, it would not include any of the partnership’s receipts in the numerator of the fraction used in the computation of the principally engaged test.

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

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In this part (21 sections)
  1. 9-1.1 · General definitions
  2. 9-1.2 · Definition of qualified New York manufacturer
  3. 9-1.3 · Contract manufacturing
  4. 9-1.4 · Corporate Partners
  5. 9-2.1 · General
  6. 9-2.2 · Determination of applicable methodology
  7. 9-2.3 · Computation of tax under the aggregate method
  8. 9-2.4 · Computation of tax under the entity method
  9. 9-2.5 · Treatment of gain or loss from the sale of a partnership…
  10. 9-2.6 · Election by certain foreign limited partners
  11. 9-3.1 · Apportionment rules for New York S corporations
  12. 9-3.2 · Nonresident and part-year resident shareholders of New York S…
  13. 9-3.3 · Examples
  14. 9-4.1 · General treatment of REITs and RICs
  15. 9-4.2 · Computation of income
  16. 9-4.3 · Qualified financial instrument apportionment rules for…
  17. 9-4.4 · Combination rules for REITs and RICs
  18. 9-5.1 · General
  19. 9-5.2 · Corporate stockholders of tax exempt DISC
  20. 9-5.3 · Corporate stockholders’ treatment of distribution and capital…
  21. 9-5.4 · Rules for treatment of earnings and profits
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