Sec. 19-6.3. Receipts from leases and rents

Tax Law, § 1454

(a) Receipts from real property and tangible personal property leased or rented from the taxpayer are allocated to New York State if such property is located in New York State. Receipts from rentals include all amounts received by the taxpayer for the use of or occupation of property, whether or not such property is owned by the taxpayer. Gross receipts received from real property and tangible personal property which is subleased must be included in the receipts factor.

(b) For the treatment of income from a financing lease, see section 19-6.2 of this Subpart.