Tax Law, § 208(6)

Investment income must be reduced by a portion of any net operating loss deduction allowed in computing entire net income. The methods by which the net operating loss deduction is apportioned between business income and investment income is described in section 3-8.8 of this Title. The apportionment of the net operating loss deduction between business income and investment income has the effect of allocating a portion of the net operating loss deduction by the business allocation percentage and a portion by the investment allocation percentage.