N.Y. Comp. Codes R. & Regs. tit. 20, § 161.1 – Change of election—general. | Midpage
§ 161.1
N.Y. Comp. Codes R. & Regs. tit. 20, § 161.1
Change of election—general.
Department of Taxation and Finance
(a) those as to which article 22 of the Tax Law provides that the taxpayer's election for Federal income tax purposes be binding for New York State personal income tax purposes; and
(b) those as to which article 22 authorizes a different or independent election for New York State personal income tax purposes.
Tax Law, § 661
Elections by taxpayers for New York State personal income tax purposes are of two kinds: