1. (a) A foreign corporation will not be deemed to be doing business, employing capital, owning or leasing property in a corporate or organized capacity or maintaining an office in New York State because of:

   1. (1) the maintenance of cash balances with banks or trust companies in New York State;
   2. (2) the ownership of shares of stock or securities kept in New York State in a safe deposit box, safe, vault or other receptacle rented for this purpose, or if pledged as collateral security, or if deposited in safekeeping or custody accounts with one or more banks or trust companies, or brokers who are members of a recognized security exchange;
   3. (3) the taking of any action by any such bank or trust company or broker, which is incidental to the rendering of safekeeping or custodian service to such corporation;
   4. (4) the maintenance of an office in this State by one or more officers or directors of the corporation who are not employees of the corporation if the corporation is not otherwise doing business or employing capital in New York State and does not own or lease property in New York State;
   5. (5) the keeping of books or records of a corporation in New York State, if such books or records are not kept by employees of such corporation and such corporation does not otherwise do business, employ capital, own or lease property, or maintain an office in New York State;
   6. (6) the use of fulfillment services of a person, other than an affiliated person, located in New York State and the ownership of property stored on the premises of such person in conjunction with such services. For purposes of this paragraph the terms fulfillment services, person and affiliated person are defined in sections 208(19), 1101(a) and 209(2) of the Tax Law respectively;
   7. (7) the participation in a trade show or shows, regardless of whether the corporation has employees or other staff present at such trade shows, provided the corporation's activity at the trade show is limited to displaying goods or promoting services, no sales are made, any orders received are sent outside New York State for acceptance or rejection and are filled from outside the state, and provided that such participation is for not more than 14 days, or part thereof, in the aggregate during the corporation's taxable year for Federal income tax purposes; or
   8. (8) any combination of the foregoing activities.

2. (b) An alien corporation, as defined in section 209(2-a) of the Tax Law, will not be deemed to be doing business, employing capital, owning or leasing property in a corporate or organized capacity or maintaining an office in New York State if its activities in New York State are limited solely to investing or trading for its own account in:

   1. (1) stocks and securities within the meaning of section 864(b)(2)(A)(ii) of the Internal Revenue Code; or
   2. (2) commodities within the meaning of section 864(b)(2)(B)(ii) of the Internal Revenue Code; or
   3. (3) any combination of stocks, securities and commodities described in paragraphs (1) and (2) of this subdivision.

Tax Law, § 209(2) and 209(2-a)