1. (1) such individual is a resident of New York State and is required to file a Federal income tax return for such short taxable period; or
2. (2) such individual's New York adjusted gross income for such period, determined under Part 112 of this Title (if such individual is a resident) or under Part 132 of this Title (if such individual is a nonresident), exceeds the prorated portion of such individual's New York personal exemptions, i.e., the amount which bears the same ratio to the full amount of New York personal exemptions as the number of months in the short period bears to 12 months. However, notwithstanding the provisions of the preceding sentence, a New York State nonresident personal income tax return must be filed for such short taxable period where a nonresident individual incurs a net operating loss for New York State personal income tax purposes but does not incur a net operating loss for Federal income tax purposes; or
3. (3) such individual's total New York items of tax preference, determined under section 122.1(b) of this Title (if such individual is a resident) or under section 141.1(b) of this Title (if such individual is a nonresident), exceeds the allowable specific deduction determined, respectively, under section 122.7(a) or section 141.2(a) of this Title; or
4. (4) such individual is subject to the separate tax imposed by section 601-D of the Tax Law upon the termination during such period of a qualified higher education fund; or

5. (5) such individual received a lump sum distribution during such period, any portion of which is subject to the separate tax imposed by section 601-C of the Tax Law.

   (b) Resident estates or trusts.

   The fiduciary of a resident estate or trust must file a New York State fiduciary income tax return for a short taxable period if:

6. (1) a Federal income tax return is required to be filed for such short taxable period; or
7. (2) the estate or trust has any New York taxable income for such period (see Part 118 of this Title); or
8. (3) the estate or trust has any New York items of tax preference for such period in excess of the allowable specific deduction determined under section 122.7(b) of this Title; or
9. (4) the estate or trust is subject to the separate tax imposed by section 601-D of the Tax Law upon the termination during such period of a qualified higher education fund; or

10. (5) the estate or trust received a lump sum distribution during such period, any portion of which is subject to the separate tax imposed by section 601-C of the Tax Law.

    In determining whether a resident estate or trust has any New York taxable income for such short taxable period, the New York personal exemption allowable for a full year must be prorated according to the number of months in a short period in cases where the short taxable period is due to a change in accounting period or a change of residence of a trust. However, the New York personal exemption of a resident estate or trust is not required to be prorated in determining the New York taxable income of such estate or trust for its first taxable year although its first taxable year is for a period of less than 12 months.

    (c) Nonresident estates or trusts.

    The fiduciary of a nonresident estate or trust must file a New York State fiduciary income tax return for a short taxable period if:

11. (1) the estate or trust has items of income or gain derived from New York State sources in excess of its New York personal exemption. However, notwithstanding the provisions of the preceding sentence, a New York State fiduciary income tax return must be filed for such short taxable period where a nonresident estate or trust incurs a net operating loss for New York State personal income tax purposes but does not incur a net operating loss for Federal income tax purposes; or
12. (2) the estate or trust has any items of tax preference derived from or connected with New York State sources (determined under section 141.1[b] of this Title) for such period in excess of the allowable specific deduction (determined under section 141.2(b) of this Title); or
13. (3) the estate or trust is subject to the separate tax imposed by section 601-D of the Tax Law upon the termination during such period of a qualified higher education fund; or

14. (4) the estate or trust received a lump sum distribution during such period, any portion of which is derived from or connected with New York State sources (determined in accordance with the provisions of section 142.1 of this Title) and which is subject to the separate tax imposed by section 601-C of the Tax Law.

    It should be noted that the New York personal exemption of a nonresident estate or trust is required to be prorated in determining the New York taxable income for a short taxable period due to a change of accounting period or a change of residence of a nonresident trust. However, the New York personal exemption is not required to be prorated in determining the New York taxable income of an estate or trust for its first taxable year although its first taxable year is for a period of less than 12 months.

(a) Resident and nonresident individuals.

Where a resident or a nonresident individual has a short taxable period due to a change in accounting period (see section 604 of the Tax Law), such individual must file a New York State personal income tax return for such short taxable period if such individual meets any of the following conditions: