1. (a) The alternative minimum tax measured by alternative entire net income is the measure of the tax if it is the largest of the alternative minimum bases and the alternative minimum tax is greater than the basic tax. The alternative minimum tax measured by alternative entire net income is computed by multiplying alternative entire net income, or portion thereof allocated to New York State, by the tax rate of three percent.
2. (b) The term alternative entire net income means entire net income as determined pursuant to section 18-2.2 of this Part, except that the deductions described in paragraphs(b)(11) and (12) of section 18-2.4 of this Part are not allowed.
3. (c) Any election made pursuant to section 19-2.3 of this Title with respect to the IBF modification provided for in Subpart 18-3 of this Part is deemed to have been made for purposes of computing alternative entire net income.

Tax Law, §§ 1453-A, 1455(b)(2)