Sec. 21-2.4. Examples

Example 1:

Assume the same facts as in Example 1 of section 16-2.5(j)(1)(iv) of this Title, and that all of the corporations except corporation E are organized under the laws of New York State. Assume that corporation E is organized under the laws of Canada. Bank A, bank B, corporations D, E, F and G are banking corporations. The Federal bank holding company and bank A are required (unless the requirements of section 21-2.2[b] of this Subpart are met) to file a combined return pursuant to the provisions of section 21-2.2 of this Subpart. Bank B and corporation F are required (unless the requirements of section 21-2.2[b] of this Subpart are met) to file a combined return pursuant to the provisions of section 21-2.2 of this Subpart. Corporations D and G may be permitted or required to be included in a combined return with the Federal bank holding company and bank A, pursuant to the provisions of section 21-2.3 of this Subpart.

Example 2:

A, a Federal bank holding company, owns 100% of the voting stock of bank B and corporation C. Corporation C owns 100% of the voting stock of corporations D and E. All of the corporations are taxpayers. A performs services for and provides funds to bank B and corporations C, D and E. Corporations C and D are in the finance leasing business and corporation E conducts a consumer finance business. A, bank B and corporations C, D and E are required to file a combined return pursuant to section 21-2.2 of this Subpart.