§ 11-88 Time for Filing Reports of Corporations Ceasing To Be Subject to Tax.
RCNY § 11-88
(§ 11-605(1), Administrative Code.) (a) If a corporation ceases to be subject to tax under Subchapter 2 of Chapter 6 of Title 11 (see: 19 RCNY § 11-03, supra), the corporation shall file a report on or before the 15th day following the date of such cessation, covering the period from the close of its last calendar or fiscal year up to and including the date of such cessation. This subdivision shall not apply to a taxpayer for which an election is made pursuant to section 338 of the Internal Revenue Code, regardless of whether such election is deemed invalid pursuant to 19 RCNY § 11-27(j) of these rules, notwithstanding any deemed cessation of existence of such taxpayer pursuant to Treas. Reg. § 1.338(h)(10)-1(d)(4).
(b)If a corporation ceases to be subject to tax under Subchapter 2 of Chapter 6 of Title 11, because of a change of classification (see: 19 RCNY § 11-05, supra), the corporation shall file a report on or before the 15th day following the date of such change of classification, covering the period from the close of its last calendar or fiscal year up to and including the date of such cessation.
(c)Notwithstanding subdivisions (a) and (b) of this section, a corporation need not file a separate report within 15 days of the date it ceases to be subject to tax under Subchapter 2 of Chapter 6 of Title 11 if: (1) it is a member of a group taxed on the basis of a combined report for the period including the date of such cessation; and (2) it is properly included in such combined report (see: 19 RCNY § 11-14(c), supra.)
