§241-1 Definitions. As used in this chapter unless a different meaning appears from the context: “Bank” means and includes any national banking association and any bank chartered or licensed pursuant to chapter 412. “Building and loan association” means any corporation that has been authorized to operate as a savings bank or savings and loan association […]
§241-1.5 Time of application of tax and other provisions. (a) The tax imposed by this chapter applies to every bank, building and loan association, development company, financial corporation, financial services loan company, trust company, mortgage loan company, financial holding company, small business investment company, or subsidiary as defined in section 241-1: (1) Which is in […]
§241-2 Imposition of tax on national banking associations; construction; exemption from other taxes, except real property tax. (a) Every national banking association located or doing business in the State shall annually pay a franchise tax according to, or measured by, its net income, to be computed as provided in section 241-4, at the rate there […]
§241-3 Imposition of tax on other banks, building and loan associations, financial services loan companies, financial corporations, small business investment companies, trust companies, mortgage loan companies, financial holding companies, development companies, and subsidiaries. Every bank, other than a national banking association, every building and loan association, every financial services loan company, financial corporation, small business […]
§241-3.5 Deduction from entire net income. There shall be allowed as a deduction from entire net income to the extent not deductible in determining federal taxable income, the adjusted eligible net income of an international banking facility, as defined in section 412:5-206, determined as follows: (1) The eligible net income of an international banking facility […]
§241-4 Measure and rate of tax. (a) The measure of the tax imposed by this chapter is the entire net income from all sources for the preceding calendar year, or in the case of a taxpayer operating on a fiscal year basis, for the preceding fiscal year. The tax shall be at the rate of […]
§241-4.3 Alternative tax. Section 1201 (with respect to alternative tax for corporations) of the Internal Revenue Code shall be operative for the purposes of this chapter and shall be applied as set forth in this section. If for any taxable year a bank, building and loan association, development company, financial corporation, financial services loan company, […]
§241-4.4 Capital infrastructure tax credit. The capital infrastructure tax credit established by section 235-17.5 shall be operative for this chapter for taxable years beginning after December 31, 2013. [L 2014, c 200, §3] Note Section 235-17.5 referred to in text is repealed.
§241-4.5 Capital goods excise tax credit. The capital goods excise tax credit provided under section 235-110.7 shall be operative for this chapter after December 31, 1987; provided that the capital goods excise tax credit shall be inoperative after December 31, 2008, and before January 1, 2010. [L 1987, c 239, §8; am L 2009, c […]
§241-4.6 Renewable energy technologies; income tax credit. The renewable energy technologies income tax credit provided under section 235-12.5 shall be operative for this chapter for taxable years beginning after December 31, 2002; provided that the system was installed after June 30, 2003. [L 1991, c 99, §2; am L 2004, c 97, §2]
§241-4.7 Low-income housing; income tax credit. The low-income housing tax credit provided under section 235-110.8 shall be operative for this chapter. [L 1992, c 145, §2]
§241-4.8 High technology business investment tax credit. The high technology business investment tax credit provided under section 235-110.9 shall be operative for this chapter on July 1, 1999. [L 1999, c 178, §26; am L 2009, c 178, §6; am L 2017, c 3, §2] Note Effect of L 2017, c 3 on tax credits. […]
§241-5 Returns; payment of tax. Returns made on the basis of the calendar year shall be made and filed, and the tax imposed by this chapter shall be paid, on or before April 20 following the close of the calendar year. Returns made on the basis of a fiscal year shall be made and filed, […]
§241-6 Chapter 235 applicable. All of the provisions of chapter 235 not inconsistent with this chapter, and which may be appropriately applied to the taxes, persons, circumstances, and situations involved in this chapter, including without prejudice to the generality of the foregoing, sections 235-92, 235-98, 235-99, and 235-101 to 235-118, shall be applicable to the […]
§241-7 Disposition of funds. All taxes collected under this chapter shall be state realizations; provided that, by June 30 of each fiscal year, the sum of $2,000,000 shall be deposited with the director of finance to the credit of the compliance resolution fund as established pursuant to section 26-9(o). [L Sp 1957, c 1, pt […]
