2012 New York Consolidated Laws
TAX - Tax
Article 32 - (1450 - 1468) Franchise Tax on Banking Corporations
1451 - Imposition of tax.

 
    §  1451.  Imposition  of  tax. (a) For the privilege of exercising its
  franchise or doing business in this state in a  corporate  or  organized
  capacity,  a tax, computed under section fourteen hundred fifty-five, is
  hereby annually imposed on every banking corporation  for  each  of  its
  taxable years, or any part thereof, beginning on or after January first,
  nineteen hundred seventy-three.
    (b)  In  the  case  of  a  taxpayer whose taxable year is other than a
  calendar year, there is hereby  imposed  a  tax  for  the  privilege  of
  exercising  its franchise or doing business in this state in a corporate
  or organized capacity for the period beginning January  first,  nineteen
  hundred  seventy-three  and extending through the subsequent part of its
  first such taxable year ending  after  such  date.  Such  tax  shall  be
  computed  under section fourteen hundred fifty-five on the basis of such
  taxpayer's entire net income, or other applicable basis as the case  may
  be,  for  such  period  and  shall  be paid with a return which shall be
  separately filed with the tax commission not later  than  the  fifteenth
  day  of  the  third  month  succeeding  the  close  of  such period. The
  requirements of sections fourteen hundred  sixty  and  fourteen  hundred
  sixty-one,  relating  to  declarations  and  payments  of estimated tax,
  except subsection (a) of section fourteen hundred sixty-one,  shall  not
  be applicable to the tax imposed by this subsection.
    (c)(1)  A  banking  corporation  is  doing business in this state in a
  corporate or organized capacity if (i) it has issued credit cards to one
  thousand or more customers who have a mailing address within this  state
  as  of  the  last day of its taxable year, (ii) it has merchant customer
  contracts with merchants and the total number of  locations  covered  by
  those  contracts  equals one thousand or more locations in this state to
  whom  the  banking  corporation  remitted  payments  for   credit   card
  transactions  during  the  taxable  year,  (iii)  it has receipts of one
  million dollars or more in the taxable year from its customers who  have
  been  issued  credit cards by the banking corporation and have a mailing
  address within this state, (iv) it has receipts of one  million  dollars
  or more arising from merchant customer contracts with merchants relating
  to  locations  in  this state, or (v) the sum of the number of customers
  described in subparagraph (i) of  this  paragraph  plus  the  number  of
  locations  covered  by  its  contracts described in subparagraph (ii) of
  this paragraph equals one  thousand  or  more,  or  the  amount  of  its
  receipts  described  in  subparagraphs  (iii) and (iv) of this paragraph
  equals one million dollars or more.  For  purposes  of  this  paragraph,
  receipts  from processing credit card transactions for merchants include
  merchant discount fees received by the banking corporation.
    (2) As used in this subsection, the term "credit card" includes  bank,
  credit, travel and entertainment cards.