§ 11-35 Computation of Tax Measured By Business and Investment Capital.
RCNY § 11-35
(§ 11-604(1), Administrative Code.) An alternative basis for measuring the primary tax is total business and investment capital, or the portion thereof allocated to New York City, if such calculation results in a higher amount than that computed on any of the other three alternative bases. The rate of tax is one mill (or one-fourth of a mill in the case of a cooperative housing corporation or a housing company organized and operating pursuant to the provisions of Article 2 or 4 of the Private Housing Finance Law) on each dollar of total or allocated business and investment capital.
