Sec. 2500.7. Retentionof documents for New York reportable transactions

Tax Law, § 25(d) and (e)

(a) Every taxpayer requiredto disclose a New York reportable transaction as required under section2500.2 of this Part must retain a copy of all relevant documents relatedto such transaction in accordance with section 25(d) of the Tax Law.

(b) A taxpayer mustretain all documents for six years from the due date of the returnfor which disclosure of a New York reportable transaction is requiredor the date of filing, if later; and must make such information availablefor inspection by the commissioner in connection with any examination.

(c) The retention requirementsof this Part are in addition to any other retention requirements,general or specific, provided by law.