N.Y. Tax Law § 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.