Sec. 19-6.1. General

Tax Law, § 1454

(a) The percentage of the taxpayer's receipts allocated to New York State is determined by dividing 100 percent of the taxpayer's receipts from loans (including the taxpayer's portion of a participation in a loan) and financing leases, and all other business receipts earned within New York State during the period the taxpayer is entitled to allocate, by the total amount of the taxpayer's receipts from loans (including the taxpayer's portion of a participation in a loan) and financing leases and all other business receipts within and without New York State during the period the taxpayer is entitled to allocate.

(b) Receipts are computed on a cash or accrual basis in accordance with the method of accounting used by the taxpayer for the taxable year in computing its alternative entire net income.