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Multistate Tax Alert: New York State Adopts Amendments to Combined Reporting Regulations


The New York State Department of Taxation and Finance (the “Department”) recently adopted amendments to the combined reporting regulations applicable to general business corporations (including REITs and RICs) subject to the tax (Franchise Tax) imposed by Article 9-A of the New York Tax Law. New York Tax Law generally provides that “related corporations” with “substantial intercorporate transactions” must file a combined report. The Department had issued a technical memorandum, TSB-M-08(2)C (Mar. 3, 2008) that outlined and interpreted the provisions on combined reporting and provided guidance with respect to determining what corporations are required to be included in a combined report. The amendments in large part codify TSB-M-08(2)C, which still remains effective for tax years beginning on or after January 1, 2007 through December 31, 2012. The amended regulations apply to tax years beginning on or after January 1, 2013.

In this Tax Alert we summarize the amendments and provide an overview regarding how the amendments differ from the guidance contained in TSB-M-08(2)C and, in certain instances, the currently superseded regulations. We also note a few of the Department’s statements in its “Assessment of Public Comment,” which was published in connection with the adoption of the amendments and which addresses written comments submitted regarding the proposed regulations.

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