2006 New York Code - General Definitions.

 
    § 11-638 General definitions. As used in this part:
    (a)  The word "taxpayer" means a corporation or association subject to
  a tax imposed by this part.
    (b) The phrase "taxable year" means the taxpayer's  taxable  year  for
  federal  income  tax  purposes,  or  the  part  thereof during which the
  taxpayer is subject to the tax imposed by this part.
    * (c)  The  term  "international  banking  facility"  shall  mean   an
  international  banking facility located in New York state and shall have
  the same meaning as is set forth in the New York state  banking  law  or
  regulations  of the New York state banking department or as is set forth
  in the laws of  the  United  States  or  regulations  of  the  board  of
  governors of the federal reserve system.
    * NB  Amended Ch. 298/85 § 31, language juxtaposed per Ch. 907/85 § 14
  * (d) The term "subsidiary" means a corporation or association of  which
  over  fifty  percent  of  the  number  of  shares of stock entitling the
  holders thereof to vote for the election of  directors  or  trustees  is
  owned by the taxpayer.
    * NB Added Ch. 298/85 § 32, language juxtaposed per Ch. 907/85 § 14
    * (e)  The term "subsidiary capital" means investments in the stock of
  subsidiaries  and  any  indebtedness  from  subsidiaries,  exclusive  of
  accounts receivable acquired in the ordinary course of trade or business
  for  services  rendered or for sales of property held primarily for sale
  to customers, whether or not evidenced by written instrument,  on  which
  interest  is  not claimed and deducted by the subsidiary for purposes of
  taxation under this part or subchapter two of  this  chapter,  provided,
  however, there shall be deducted from subsidiary capital any liabilities
  payable  by  their  terms  on  demand  or  within one year from the date
  incurred, other than loans or advances outstanding for more than a  year
  as  of  any  date  during  the  year  covered  by  the return, which are
  attributable to subsidiary capital.
    * NB Added Ch. 298/85 § 32, language juxtaposed per Ch. 907/85 § 14
    (f) The term "financial holding company"  means  a  corporation  that,
  pursuant  to  subsection  (l)  of  section 4 of the federal bank holding
  company act of nineteen hundred fifty-six, as amended,  has  filed  with
  the  federal  reserve  board  a written declaration that the corporation
  elects to be a financial holding company and whose election has not been
  found to be ineffective by the federal reserve board.