New York Tax Law (Consolidated Laws)
N.Y. Tax Law § 637
Computation of separate tax on the ordinary income portion of lump sum distributions received by nonresident or part-year resident indivi...
§ 637. Computation of separate tax on the ordinary income portion of lump sum distributions received by nonresident or part-year resident individuals, estates and trusts. (a) General. The tax imposed under section six hundred three for any taxable year, with respect to the ordinary income portion of a lump sum distribution received by a nonresident or part-year resident individual, estate or trust shall be applicable to the ordinary income portion of a lump sum distribution wholly or partly derived from or connected with New York sources, and the amount of such tax shall be computed in the same manner as that set forth in section six hundred twenty-four, except that if the lump sum distribution was partly derived from or connected with New York sources, the total taxable amount and the ordinary income portion of the lump sum distribution referred to in such section shall be determined by apportionment and allocation, pursuant to regulations promulgated by the state tax commission.
(b) Special rule for part-year residents. In the case of a part-year resident, the ordinary income portion of a lump sum distribution wholly or partly derived from or connected with New York sources shall be the sum of:
# (1)
The ordinary income portion of a lump sum distribution for the period of residence, computed as if the taxable year for federal income tax purposes were limited to the period of residence.
# (2)
The ordinary income portion of a lump sum distribution for the period of nonresidence, determined in accordance with subsection (a) of this section, computed as if the taxable year for federal income tax purposes were limited to the period of nonresidence.
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In this article (40 sections)
- 630-F*4 · Gift for lupus education and prevention
- 630-F*5 · Gift for military families
- 630-F*6 · Gift for city university of New York
- 630-G · Gift for leukemia, lymphoma and myeloma research, education and…
- 630-G*2 · Gift for the William B
- 630-G*3 · Gift to the arts fund
- 630-H · New York state campaign finance fund check-off
- 630-I · Gifts for the state library system
- 630-I*2 · Gift for the firearm violence research fund
- 630-I*3 · Gifts for thoroughbred aftercare
- 630-J · Gifts for standardbred aftercare
- 630-K · Gift for Lyme and tick-borne diseases education, research and…
- 630-L · Gift for diabetes research and education
- 630-L*2 · Gift for cure childhood cancer research fund
- 631 · New York source income of a nonresident individual
- 632 · Nonresident partners and electing shareholders of S corporations
- 632-A · Personal service corporations and S corporations formed or…
- 633 · New York source income of a nonresident estate or trust
- 634 · Share of a nonresident beneficiary in income from New York sources
- 635 · Credit to trust beneficiary receiving accumulation distribution
- 637 · Computation of separate tax on the ordinary income portion of…
- 638 · New York source income of a part-year resident
- 639 · Accruals upon change of residence
- 651 · Returns and liabilities
- 652 · Time and place for filing returns and paying tax
- 653 · Signing of returns and other documents
- 654 · Relief from joint and several liability on joint return
- 657 · Extensions of time
- 658 · Requirements concerning returns, notices, records and statements
- 659 · Report of federal changes, corrections or disallowances
- 659-A · Reporting of federal partnership adjustments
- 660 · Election by shareholders of S corporations
- 661 · Change of election
- 662 · Computation of tax where taxpayer restores substantial amount…
- 663 · Estimated tax on sale or transfer of real property by nonresident
- 671 · Requirement of withholding tax from wages
- 672 · Information statement for employee
- 673 · Credit for tax withheld
- 674 · Employer's return and payment of withheld taxes
- 675 · Employer's liability for withheld taxes