US Laws, Codes, Statutes & Cases

 
    **  §  605. General provisions and definitions. (a) Accounting periods
  and methods. (1) Accounting periods. A  taxpayer's  taxable  year  under
  this  article  shall  be the same as his taxable year for federal income
  tax purposes.
    * (2) Change of accounting periods. If a taxpayer's  taxable  year  is
  changed  for  federal income tax purposes, his taxable year for purposes
  of this article shall be similarly changed. If a taxable  year  of  less
  than  twelve  months results from a change of taxable year, the New York
  standard deduction  and  the  New  York  personal  exemptions  shall  be
  prorated under regulations of the tax commission.
    * NB Applicable to taxable years prior to 1988
    *  (2)  Change  of accounting periods. If a taxpayer's taxable year is
  changed for federal income tax purposes, his taxable year  for  purposes
  of  this  article  shall be similarly changed. If a taxable year of less
  than twelve months results from a change of taxable year, the  New  York
  standard  deduction  and the New York exemptions shall be prorated under
  regulations of the tax commission.
    * NB Applicable to taxable years beginning after 1987
    (3) Accounting methods. A taxpayer's method of accounting  under  this
  article shall be the same as his method of accounting for federal income
  tax  purposes.  In  the  absence of any method of accounting for federal
  income tax purposes, New York taxable income  shall  be  computed  under
  such  method  as  in  the opinion of the tax commission clearly reflects
  income.
    (4) Change of accounting  methods.  (A)  If  a  taxpayer's  method  of
  accounting  is  changed  for  federal income tax purposes, his method of
  accounting for purposes of this article shall be similarly changed.
    (B) If a taxpayer's method of accounting is changed, other  than  from
  an  accrual  to  an installment method, any additional tax which results
  from adjustments determined to be necessary  solely  by  reason  of  the
  change  shall  not  be  greater  than  if  such adjustments were ratably
  allocated and included for the  taxable  year  of  the  change  and  the
  preceding taxable years, not in excess of two, during which the taxpayer
  used the method of accounting from which the change is made.
    (C) If a taxpayer's method of accounting is changed from an accrual to
  an installment method, any additional tax for the year of such change of
  method  and for any subsequent year which is attributable to the receipt
  of installment payments properly accrued  in  a  prior  year,  shall  be
  reduced by the portion of tax for any prior taxable year attributable to
  the accrual of such installment payments, in accordance with regulations
  of the tax commission.
    (b) Resident, nonresident and part-year resident defined. (1) Resident
  individual.  A  resident  individual  means  an  individual:  (A) who is
  domiciled in this state, unless (i) he maintains no permanent  place  of
  abode in this state, maintains a permanent place of abode elsewhere, and
  spends in the aggregate not more than thirty days of the taxable year in
  this  state,  or  (ii) (I) within any period of five hundred forty-eight
  consecutive days he is present in a foreign country or countries for  at
  least  four  hundred  fifty  days,  and  (II) during such period of five
  hundred forty-eight consecutive days he is not present in this state for
  more than ninety days and does not maintain a permanent place  of  abode
  in  this  state  at  which  his  spouse  (unless  such spouse is legally
  separated) or minor children are present for more than ninety days,  and
  (III)  during the nonresident portion of the taxable year with or within
  which such period of five hundred forty-eight  consecutive  days  begins
  and  the  nonresident  portion  of the taxable year with or within which
  such period ends, he is present in this state for a number of days which
  does not exceed an amount which bears the same ratio to  ninety  as  the
  number  of  days  contained in such portion of the taxable year bears to
  five hundred forty-eight, or
    (B) who is not domiciled in this state but maintains a permanent place
  of abode in this state and spends in the aggregate more than one hundred
  eighty-three  days  of  the  taxable  year  in  this  state, unless such
  individual is in active service  in  the  armed  forces  of  the  United
  States.
    (2)   Nonresident   individual.  A  nonresident  individual  means  an
  individual who is not a resident or a part-year resident.
    (3) Resident estate or trust. A resident estate or trust means:
    (A) the estate of a decedent who at his death was  domiciled  in  this
  state,
    (B)  a  trust,  or  a  portion  of  a  trust,  consisting  of property
  transferred by will of a decedent who at his death was domiciled in this
  state, or
    (C) a trust, or portion of a trust, consisting of the property of:
    (i) a person domiciled in this state at the  time  such  property  was
  transferred  to  the trust, if such trust or portion of a trust was then
  irrevocable, or if it was then revocable and has not subsequently become
  irrevocable; or
    (ii) a person domiciled in this state  at  the  time  such  trust,  or
  portion  of  a  trust, became irrevocable, if it was revocable when such
  property was transferred  to  the  trust  but  has  subsequently  become
  irrevocable.
    * (D)  (i)  Provided,  however, a resident trust is not subject to tax
  under this article if all of the following conditions are satisfied:
    (I) all the trustees are domiciled in a state other than New York;
    (II) the entire corpus of the  trusts,  including  real  and  tangible
  property, is located outside the state of New York; and
    (III)  all income and gains of the trust are derived from or connected
  with sources outside of the state of New  York,  determined  as  if  the
  trust were a non-resident trust.
    (ii)  For  purposes  of  item (II) of clause (i) of this subparagraph,
  intangible property shall be located in this state if one or more of the
  trustees are domiciled in the state of New York.
    (iii) Provided further, that for the purposes of item  (I)  of  clause
  (i)  of  this  subparagraph, a trustee which is a banking corporation as
  defined in subsection (a) of section fourteen hundred fifty-two of  this
  chapter and which is domiciled outside the state of New York at the time
  it  becomes  a  trustee of the trust shall be deemed to continue to be a
  trustee domiciled outside the state of New York notwithstanding that  it
  thereafter  otherwise  becomes  a  trustee domiciled in the state of New
  York by virtue of being acquired by, or becoming an office or branch of,
  a corporate trustee domiciled within the state of New York.
    * NB Applicable to taxable years beginning on or after January 1, 1996
    For the purposes of the foregoing, a trust or portion of  a  trust  is
  revocable if it is subject to a power, exercisable immediately or at any
  future  time,  to  revest title in the person whose property constitutes
  such trust or portion of a trust, and a trust  or  portion  of  a  trust
  becomes  irrevocable  when  the  possibility  that  such  power  may  be
  exercised has been terminated.
    (4) Nonresident estate or trust. (A) A  nonresident  estate  means  an
  estate which is not a resident.
    (B)  A  nonresident  trust  means  a  trust which is not a resident or
  part-year resident.
    (5) Part-year resident individual. A part-year resident individual  is
  an  individual  who  is  not  a  resident  or nonresident for the entire
  taxable year.
    (6) Part-year resident trust. A part-year resident trust  is  a  trust
  which is not a resident or nonresident for the entire taxable year.
    ** NB Applicable to taxable years beginning after 1986.
    *  (c)  Tax  treatment  of  charitable  contributions  for determining
  domicile. Notwithstanding any other provision of any other  law  to  the
  contrary,  the  making  of  a  financial  contribution,  gift,  bequest,
  donation or any other financial instrument or pledge in  any  amount  or
  the  donation  or  loan of any object of any value, or the volunteering,
  giving or donation of uncompensated time,  or  any  combination  of  the
  foregoing,  considered a charitable contribution under subsection (c) of
  section one hundred seventy of  the  internal  revenue  code,  or  to  a
  not-for-profit  organization, as defined in subdivision seven of section
  one hundred seventy-nine-q of the state finance law, shall not  be  used
  in any manner to determine where an individual is domiciled.
    * Applicable to taxable years beginning on or after January 1, 1994.