N.Y. Tax Law § 1502: Computation of tax

§ 1502. Computation of tax. (a) The tax imposed under section fifteen

hundred one shall be the greatest of:

(1) for taxable years beginning before July first, two thousand, nine

percent of the taxpayer's entire net income, or portion thereof

allocated within this state, for the taxable year, or part thereof,

except that for taxable years beginning prior to January first, nineteen

hundred seventy-eight, the rate shall be four and five-tenths percent;

for taxable years beginning after June thirtieth, two thousand and

before July first, two thousand one, eight and one-half percent of the

taxpayer's entire net income, or portion thereof allocated within this

state, for the taxable year, or part thereof; for taxable years

beginning after June thirtieth, two thousand one and before July first,

two thousand two, eight percent of the taxpayer's entire net income, or

portion thereof allocated within this state, for the taxable year, or

part thereof; for taxable years beginning after June thirtieth, two

thousand two and before January first, two thousand seven, seven and

one-half percent of the taxpayer's entire net income, or portion thereof

allocated within this state, for the taxable year, or part thereof; and

for taxable years beginning on or after January first, two thousand

seven, seven and one-tenth percent of the taxpayer's entire net income,

or portion thereof allocated within this state, for the taxable year, or

part thereof; or

(2) one and six-tenths mills for each dollar of the taypayer's total

business and investment capital allocated within this state for the

taxable year, or part thereof, except that for taxable years beginning

prior to January first, nineteen hundred seventy-eight, the rate shall

be eight-tenths mills; or

(3) nine percent on thirty percent of the taxpayer's entire net income

plus salaries and other compensation paid to the taxpayer's elected or

appointed officers and to every stockholder owning in excess of five

percent of its issued capital stock minus fifteen thousand dollars and

any net loss for the reported year, or the portion of such sum allocated

within the state as hereinafter provided, except that for taxable years

beginning prior to January first, nineteen hundred seventy-eight, the

rate shall be four and five-tenths percent rather than nine percent; or

(4) two hundred fifty dollars; plus

(b) eight-tenths of a mill for each dollar of the portion of the

taxpayer's subsidiary capital allocated within the state for the taxable

year, or part thereof, except that for taxable years beginning prior to

January first, nineteen hundred seventy-eight, the rate shall be

four-tenths of a mill.