N.Y. Comp. Codes R. & Regs. tit. 20, § 4-7.1 – Use of investment allocation percentage. | Midpage
§ 4-7.1
N.Y. Comp. Codes R. & Regs. tit. 20, § 4-7.1
Use of investment allocation percentage.
Department of Taxation and Finance
(a) A taxpayer allocates its investment income, alternative investment income and investment capital within and without New York State by the investment allocation percentage. The investment allocation percentage of a “Professional Service Corporation”is always 100 percent.
(b) If a taxpayer's investment allocation percentage is zero, interest received on bank accounts is multiplied by the taxpayer's business allocation percentage.