Sec. 16-2.1. General

Generally, any term used in these regulations, unless defined specifically in this Subchapter or a different meaning is clearly required, shall have the same meaning as when used in a comparable context in (a) the laws of the United States relating to Federal income taxes and the Federal income tax regulations promulgated thereunder, or (b) article 27 of the Tax Law and the regulations promulgated thereunder. Any reference herein to the Laws of the United States shall mean the provisions of the Internal Revenue Code of 1954, and amendments thereto, and other provisions of the laws of the United States relating to Federal income taxes, as the same are effective for the taxable year.