N.Y. Comp. Codes R. & Regs. tit. 20, § 21-1.1 – Corporations required to file returns. | Midpage
§ 21-1.1
N.Y. Comp. Codes R. & Regs. tit. 20, § 21-1.1
Corporations required to file returns.
Department of Taxation and Finance
(a) Returns are required to be filed annually by:
(1) every banking corporation subject to tax (see Subpart 16-3 of this Title - Corporations Subject to Tax);
(2) every bank holding company required or permitted to make a combined return under Subpart 21-2 of this Part; and
(3) every taxpayer which continues in business in New York State after it is dissolved.
(b) Every banking corporation claiming not to be subject to tax but having one or more employees or officers within New York State must submit a complete description of its activities in New York State in an information report (form CT-245) which it must file annually. If the Tax Commission determines the banking corporation is subject to tax, it will notify such corporation to file a franchise tax return. The filing of the information report does not start the period of limitation within which the Tax Commission may assess the tax.