§ 11-61 General Rules for Allocation.
RCNY § 11-61
(a)Title 11, Chapter 6, Subchapter 2 of the Administrative Code provides for separate allocations of business income and capital, investment income and capital, and subsidiary capital. Business income and capital generally are allocated by a business allocation percentage determined by three factors: tangible property, business receipts and payrolls (19 RCNY §§ 11-63 through 11-67, infra). Investment income and capital are allocated by an investment allocation percentage determined pursuant to 19 RCNY §§ 11-68 through 11-71 of these regulations. Subsidiary capital is allocated by a subsidiary allocation percentage determined by the amount of capital employed in New York City by the taxpayer's subsidiaries (19 RCNY § 11-71, infra).
(b)Every corporation is entitled to an allocation, within and without New York City, of its subsidiary capital and its investment capital and income, even if it transacts all of its business and maintains its only office in New York City. A corporation is entitled to allocate part of its business income and capital outside New York City only if it has a regular place of business outside the City; otherwise 100 percent of its business income and capital must be allocated to New York City.
