NYC Administrative Code

§ 11-641.1 — Computation of alternative entire net income.

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What is NYC AC § 11-641.1?

Quick Answer

This section defines alternative entire net income, which is calculated based on section 11-641, excluding specific deductions. It also addresses the election related to modifications for computing this alternative income. Applies to entities involved in tax calculations under NYC regulations.

General informational summary. Not legal advice for your situation. Consult an attorney before acting on any specific matter.

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§ 11-641.1 Computation of alternative entire net income.

AC § 11-641.1

(a)Alternative entire net income means entire net income as determined pursuant to section 11-641, except that the deductions described in paragraphs eleven and twelve of subdivision (e) of section 11-641 shall not be allowed.

(b)Any election made pursuant to paragraph two of subdivision (b) of section 11-642 with respect to the modification provided for in subdivision (f) of section 11-641 shall be deemed to have been made for purposes of computing alternative entire net income.

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