N.Y. Comp. Codes R. & Regs. tit. 20, § 16-2.10 – Definition of place of business.

(a) The term place of business means a bona fide office or branch of the taxpayer the income from which is required to be included in the computation of the taxpayer's alternative entire net income. For example, a banking corporation organized under the laws of Great Britain has a branch in London and a branch in New York City. None of the income or expenses of the London branch are included in the computation of the taxpayer's alternative entire net income. Therefore, the London branch is not a place of business of the taxpayer.