§ 11-44 Minimum Tax of $25.
RCNY § 11-44
(a)Minimum tax of $25. In no event is the tax for any period (exclusive of the tax measured by subsidiary capital) less than $25.
(b)Minimum tax on combined reports.
(1)Where the tax as computed on a combined report is measured by combined entire net income (19 RCNY § 11-26, supra), or combined entire net income plus compensation (19 RCNY § 11-34, supra), or combined business and investment capital (19 RCNY § 11-35, supra), or is measured by the minimum tax (19 RCNY § 11-44(a), supra), each corporation included in the combined report except: (i) the corporation paying the combined tax, and (ii) any corporation described in subdivision (b) of this section is required to pay a minimum tax of $125. The corporation paying the combined tax will pay the minimum tax when the minimum tax is the greater of the alternative taxes.
(2)A corporation which is not subject to tax pursuant to 19 RCNY § 11-03, supra, is not required to pay a minimum tax when included in a combined report.
