2006 New York Code - Imposition Of Tax.

 
    §  290.  Imposition  of  tax. * (a) General. For every taxable year or
  part  thereof,  every  organization  described  in  paragraph   two   of
  subsection  (a)  of  section five hundred eleven of the internal revenue
  code of  nineteen  hundred  fifty-four  and  every  trust  described  in
  paragraph  two  of subsection (b) of section five hundred eleven of such
  code carrying on an unrelated trade or business in New York shall pay  a
  tax  at  the  rate  of  ten per centum on its unrelated business taxable
  income for such year, or on the portion thereof allocated to this state,
  as provided in section two hundred ninety-three, or  two  hundred  fifty
  dollars, whichever is greater.
    * NB Applies to taxable years prior to December 31, 1986
    * (a)   General.  For  every  taxable  year  or  part  thereof,  every
  organization described in paragraph two of  subsection  (a)  of  section
  five  hundred  eleven  of  the internal revenue code of nineteen hundred
  fifty-four and every trust described in paragraph two of subsection  (b)
  of  section  five  hundred  eleven of such code carrying on an unrelated
  trade or business in New York shall pay a tax at the rate  of  nine  per
  centum on its unrelated business taxable income for such year, or on the
  portion  thereof  allocated  to  this  state, as provided in section two
  hundred  ninety-three,  or  two  hundred  fifty  dollars,  whichever  is
  greater.
    * NB Applies to taxable years beginning after December 31, 1986
    (b)  Unrelated  trade  or  business  carried  on  by  a  receiver. Any
  receiver, referee, trustee, assignee or fiduciary,  or  any  officer  or
  agent  appointed  by  any  court,  who carries on the unrelated trade or
  business of an organization or trust described in either  paragraph  two
  of  subsection  (a)  or  paragraph two of subsection (b) of section five
  hundred  eleven  of  the  internal  revenue  code  of  nineteen  hundred
  fifty-four  shall  be  subject to the tax imposed by this article in the
  same manner and to the same extent as if the unrelated trade or business
  were carried on by the agents, officers or trustees of such organization
  or trust.
    (c) Exemptions. (1) Every corporation  liable  to  tax  under  article
  nine-a of this chapter shall not be subject to tax under this article.
    (2)  Every organization whose sole unrelated trade or business carried
  on in New York consists of activities constituting an unrelated trade or
  business solely by  virtue  of  section  501(m)(2)(A)  of  the  internal
  revenue code shall not be subject to tax under this article.
    (3)  Any  income  derived  from the conduct of games of chance or from
  rental of premises for the conduct of games  of  chance  pursuant  to  a
  license  granted under article nine-A of the general municipal law shall
  not be subject to tax under this article.