Sec. 18-1.2. Computing tax on combined returns

Tax Law, § 1462(f)

Where corporations report on a combined basis, the tax is measured by the combined entire net income (see section 18-2.6 of this Part), or by the combined alternative entire net income (see section 18-4.2) or by the combined taxable assets (see section 18-5.6) of all of the corporations included in the combined return. Each taxpayer included in the combined return (other than the taxpayer paying the combined tax) is required to pay an alternative minimum tax of $250. The corporation paying the combined tax will pay the alternative minimum tax of $250 (see section 18-6.2 of this Part) when it is the greatest alternative minimum base and the alternative minimum tax is greater than the basic tax. As to when combined returns will be required or permitted, see Subpart 21-2 of this Title - Combined Returns.