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Income tax advisory opinions - 2009 (TSB-A)

An Advisory Opinion is issued at the request of a person or entity.  It is limited to the facts set forth therein and is binding on the Department only with respect to the person or entity to whom it is issued and only if the person or entity fully and accurately describes all relevant facts.  An Advisory Opinion is based on the law, regulations, and Department policies in effect as of the date the Opinion is issued or for the specific time period at issue in the Opinion.

 
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Number

Petitioner

   
TSB-A-09(15)I Whether the farmers' school tax credit of an S corporation is allocated to shareholders based on their ownership interest at the time property taxes were paid, or is allocated on a per share per day basis
 
TSB-A-09(14)I Bowers & Company CPAs, PLLC - Whether the calculation of the Empire Zone tax benefits for a single-member limited liability company treated as a disregarded entity will be affected if it elects to be taxed as a subchapter S corporation
 
TSB-A-09(12)I Whether an S corporation shareholder has any relief from Tax Law §612(b)(8) which requires the bonus depreciation allowed under Internal Revenue Code §168(k) to be added back to federal adjusted gross income
 
TSB-A-09(11)I Whether payments made in respect of termination of a professional sports player's employment contract with his team constitute New York source income
 
TSB-A-09(10)I Whether distributions from an IRA that was funded with assets rolled over from a IRC §403(b) tax-deferred annuity plan are subject to New York State personal income tax
 
TSB-A-09(9)I Lawrence Faraone - Whether distributions that are attributable to a rollover contribution from the NYS Police and Firefighters Retirement System to an IRA or other eligible retirement plan are included in New York taxable income
 
TSB-A-09(13)C, (8)I Whether a corporation that will be certified and commence operations in an Empire Zone will be a new business under section 14 of the Tax Law
 
TSB-A-09(7)I Whether distributions from an Individual Retirement Account (IRA) are subject to personal income tax if the taxpayer rolls over a Federal Reserve Bank of New York 401K Thrift Plan to the IRA
 
TSB-A-09(10)C, (6)I Whether a newly formed entity, or a division of an existing foreign corporation, that commences business in New York will be eligible to claim the qualified empire zone enterprise (QEZE) tax reduction credit and the wage tax credit
 
TSB-A-09(5)I TSB-A-09(5)I Whether Form IT-2104 that is completed using an electronic submission system that satisfies the federal requirements for a valid electronic signature on federal Form W-4 also satisfies the signature requirements under New York law
 
TSB-A-09(7)C, (4)I Whether the tangible property component of the Brownfield Redevelopment Tax Credit may be specially allocated among a New York LLC's members in the same proportion as the depreciation deductions relating to the qualified tangible property that gives rise to the credit are allocated in the tax year the property is placed in service
 
TSB-A-09(3)I
 
Accrual of interest on overpayment of income tax based on federal changes
 
TSB-A-09(2)I Whether reinstated nonqualified restricted shares and stock option units received by a nonresident for signing a noncompetition agreement are subject to New York income tax
 
TSB-A-09(1)I  Salmin, Celona, Wehrle & Flaherty - Whether a convertible debt instrument is a "qualified investment" in a certified Qualified Emerging Technology Company for purposes of Tax Law section 606(r)(1)(C
 

Other information
Updated: November 23, 2011