2017 New York Laws
TAX - Tax
Article 13 - Tax on Unrelated Business Income
290 - 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 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.
(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.