1. (a) Where the tax as computed on a combined return is measured by combined entire net income (see section 18-2.6 of this Part), or is measured by combined alternative entire net income (see section 18-4.2 of this Part), or is measured by combined taxable assets (see section 18-5.6 of this Part), each corporation included in the combined return, except:

   1. (1) the taxpayer paying the combined tax; and

   2. (2) any corporation described in subdivision (b) of this section;

      is required to pay the fixed minimum tax of $250. The taxpayer paying the combined tax will pay the alternative minimum tax measured by $250 when $250 is the largest of the alternative minimum bases and the alternative minimum tax is greater than the basic tax.

2. (b) A corporation which is not a taxpayer (see Subpart 16-3 of this Title) is not required to pay the fixed minimum tax of $250 when included in a combined return.
3. (c) As to when combined returns will be permitted or required, see Subpart 21-2 of this Title Combined Returns.

Tax Law, § 1462(f)