Mastering New York's Combined Reporting Rules

Gain a better understanding of the combined reporting of state income taxes in New York.

This topic will provide corporate tax professionals with a thorough and practical guide to New York combined reporting. The panelist will provide an overview of New York’s prior and current law, determining the combined group and computing the tax. After this topic, you will be able to navigate New York’s complicated combined reporting rules.
Effective January 1, 2015, New York implemented a unitary combined reporting regime. Since New York does not provide a statutory definition of a unitary business group, a critical part of combined reporting in New York will be applying the unitary business principle. This is a constitutional concept that looks at the business as a whole rather than individual separate entities or separate geographic locations. This material will focus on some of the factors that New York will look at to determine a unitary business.
Calculating combined income is considerably more complicated than determining consolidated federal taxable income. Learn how to compute New York’s combined capital and combined business income bases, as well as understand how to address combined filing by corporations with different tax years.
This information is critical to those who are required to keep up on New York’s combined reporting rules.