20 NYCRR § 9-2.1
General
# (a)
A corporation that is a partner in a partnership must compute its tax with respect to its interest in such partnership under the aggregate method or entity method, whichever applies.
# (b)
Under the aggregate method, a corporate partner is viewed as having an undivided interest in the partnership's assets, liabilities and items of receipts, income, gain, loss, and deduction. Under the aggregate method, the partner is treated as participating in the partnership's transactions and activities.
# (c)
Under the entity method, a partnership is treated as a separate entity and a corporate partner is treated as owning an interest in the partnership entity. The partner’s interest in the partnership is an intangible asset.
Source: official source document (DTF adopted rule text, December 2023 corporate reform)
In this part (21 sections)
- 9-1.1 · General definitions
- 9-1.2 · Definition of qualified New York manufacturer
- 9-1.3 · Contract manufacturing
- 9-1.4 · Corporate Partners
- 9-2.1 · General
- 9-2.2 · Determination of applicable methodology
- 9-2.3 · Computation of tax under the aggregate method
- 9-2.4 · Computation of tax under the entity method
- 9-2.5 · Treatment of gain or loss from the sale of a partnership…
- 9-2.6 · Election by certain foreign limited partners
- 9-3.1 · Apportionment rules for New York S corporations
- 9-3.2 · Nonresident and part-year resident shareholders of New York S…
- 9-3.3 · Examples
- 9-4.1 · General treatment of REITs and RICs
- 9-4.2 · Computation of income
- 9-4.3 · Qualified financial instrument apportionment rules for…
- 9-4.4 · Combination rules for REITs and RICs
- 9-5.1 · General
- 9-5.2 · Corporate stockholders of tax exempt DISC
- 9-5.3 · Corporate stockholders’ treatment of distribution and capital…
- 9-5.4 · Rules for treatment of earnings and profits