§ 636. New York minimum taxable income of nonresidents or part-year residents. (a) The New York minimum taxable income of a nonresident or part-year resident individual, estate or trust shall be the sum of the items of tax preference, as described in subsection (b) of this section, reduced (but not below zero) by the aggregate of the following: (1) the applicable specific deduction described in subsection (c) of this section; (2) the tax on New York taxable income determined under section six hundred one for the taxable year, reduced by the sum of the credits allowable under this article, except for the credit under section six hundred seventy-three; and (3) to the extent that the sum of the items of tax preference exceeds the applicable specific deduction described in subsection (c) of this section plus the tax described in paragraph two above, the amount of any net operating loss of the taxpayer, determined as provided in paragraph four of subsection (b) of section six hundred thirty-one, which remains as a net operating loss carryover to a succeeding taxable year. In such case, however, the amount of such net operating loss used to reduce the sum of the items of tax preference shall be treated as an item of tax preference in the next succeeding taxable years, in order of time, in which such net operating loss carryover reduces federal taxable income. (b) For purposes of this article, the term "items of tax preference" shall mean: (1) In the case of a nonresident, the items of tax preference, as defined in subsection (b) of section six hundred twenty-two, derived from or connected with New York sources, as such term is defined in subsection (b) of section six hundred thirty-one. (2) In the case of a part-year resident, the sum of: (A) The items of tax preference, as defined in subsection (b) of section six hundred twenty-two, for the period of residence, computed as if the taxable year for federal income tax purposes were limited to the period of residence. (B) The items of tax preference for the period of nonresidence, determined in accordance with paragraph one of this subsection, computed as if the taxable year for federal income tax purposes were limited to the period of nonresidence. (c) Specific deduction. (1) Nonresident or part-year resident individuals.--An amount which bears the same ratio to five thousand dollars, or twenty-five hundred dollars in the case of a married individual filing a separate return, as his items of tax preference computed under subsection (b) of this section bear to his total items of tax preference computed as if he were a resident under subsection (b) of section six hundred twenty-two for the taxable year. Provided, however, the amount allowable under this paragraph shall not exceed five thousand dollars, or twenty-five hundred dollars in the case of a married individual filing a separate return. (2) Nonresident or part-year resident estates or trusts.--An amount, not to exceed five thousand dollars, which bears the same proportion to five thousand dollars as its items of tax preference computed under subsection (b) of this section bear to the sum of the items of tax preference of such estate or trust computed as if it were a resident estate or trust under subsection (b) of section six hundred twenty-two for the taxable year but without regard to any apportionment of such items of tax preference between such estate or trust and the beneficiaries thereof as provided in such subsection (b) of section six hundred twenty-two. (d) Disallowance of credits.--The credits against tax under this article, except for the credits under paragraph four of subsection (c)and paragraph four of subsection (d) of section six hundred six and under section six hundred seventy-three shall not be allowed against the tax imposed by section six hundred two.
§ 636. New York minimum taxable income of nonresidents or part-year residents. (a) The New York minimum taxable income of a nonresident or part-year resident individual, estate or trust shall be the sum of the items of tax preference, as described in subsection (b) of this section, reduced (but not below zero) by the aggregate of the following: (1) the applicable specific deduction described in subsection (c) of this section; (2) the tax on New York taxable income determined under section six hundred one for the taxable year, reduced by the sum of the credits allowable under this article, except for the credit under section six hundred seventy-three; and (3) to the extent that the sum of the items of tax preference exceeds the applicable specific deduction described in subsection (c) of this section plus the tax described in paragraph two above, the amount of any net operating loss of the taxpayer, determined as provided in paragraph four of subsection (b) of section six hundred thirty-one, which remains as a net operating loss carryover to a succeeding taxable year. In such case, however, the amount of such net operating loss used to reduce the sum of the items of tax preference shall be treated as an item of tax preference in the next succeeding taxable years, in order of time, in which such net operating loss carryover reduces federal taxable income. (b) For purposes of this article, the term "items of tax preference" shall mean: (1) In the case of a nonresident, the items of tax preference, as defined in subsection (b) of section six hundred twenty-two, derived from or connected with New York sources, as such term is defined in subsection (b) of section six hundred thirty-one. (2) In the case of a part-year resident, the sum of: (A) The items of tax preference, as defined in subsection (b) of section six hundred twenty-two, for the period of residence, computed as if the taxable year for federal income tax purposes were limited to the period of residence. (B) The items of tax preference for the period of nonresidence, determined in accordance with paragraph one of this subsection, computed as if the taxable year for federal income tax purposes were limited to the period of nonresidence. (c) Specific deduction. (1) Nonresident or part-year resident individuals.--An amount which bears the same ratio to five thousand dollars, or twenty-five hundred dollars in the case of a married individual filing a separate return, as his items of tax preference computed under subsection (b) of this section bear to his total items of tax preference computed as if he were a resident under subsection (b) of section six hundred twenty-two for the taxable year. Provided, however, the amount allowable under this paragraph shall not exceed five thousand dollars, or twenty-five hundred dollars in the case of a married individual filing a separate return. (2) Nonresident or part-year resident estates or trusts.--An amount, not to exceed five thousand dollars, which bears the same proportion to five thousand dollars as its items of tax preference computed under subsection (b) of this section bear to the sum of the items of tax preference of such estate or trust computed as if it were a resident estate or trust under subsection (b) of section six hundred twenty-two for the taxable year but without regard to any apportionment of such items of tax preference between such estate or trust and the beneficiaries thereof as provided in such subsection (b) of section six hundred twenty-two. (d) Disallowance of credits.--The credits against tax under this article, except for the credits under paragraph four of subsection (c)and paragraph four of subsection (d) of section six hundred six and under section six hundred seventy-three shall not be allowed against the tax imposed by section six hundred two.
§ 636. New York minimum taxable income of nonresidents or part-year residents. (a) The New York minimum taxable income of a nonresident or part-year resident individual, estate or trust shall be the sum of the items of tax preference, as described in subsection (b) of this section, reduced (but not below zero) by the aggregate of the following: (1) the applicable specific deduction described in subsection (c) of this section; (2) the tax on New York taxable income determined under section six hundred one for the taxable year, reduced by the sum of the credits allowable under this article, except for the credit under section six hundred seventy-three; and (3) to the extent that the sum of the items of tax preference exceeds the applicable specific deduction described in subsection (c) of this section plus the tax described in paragraph two above, the amount of any net operating loss of the taxpayer, determined as provided in paragraph four of subsection (b) of section six hundred thirty-one, which remains as a net operating loss carryover to a succeeding taxable year. In such case, however, the amount of such net operating loss used to reduce the sum of the items of tax preference shall be treated as an item of tax preference in the next succeeding taxable years, in order of time, in which such net operating loss carryover reduces federal taxable income. (b) For purposes of this article, the term "items of tax preference" shall mean: (1) In the case of a nonresident, the items of tax preference, as defined in subsection (b) of section six hundred twenty-two, derived from or connected with New York sources, as such term is defined in subsection (b) of section six hundred thirty-one. (2) In the case of a part-year resident, the sum of: (A) The items of tax preference, as defined in subsection (b) of section six hundred twenty-two, for the period of residence, computed as if the taxable year for federal income tax purposes were limited to the period of residence. (B) The items of tax preference for the period of nonresidence, determined in accordance with paragraph one of this subsection, computed as if the taxable year for federal income tax purposes were limited to the period of nonresidence. (c) Specific deduction. (1) Nonresident or part-year resident individuals.--An amount which bears the same ratio to five thousand dollars, or twenty-five hundred dollars in the case of a married individual filing a separate return, as his items of tax preference computed under subsection (b) of this section bear to his total items of tax preference computed as if he were a resident under subsection (b) of section six hundred twenty-two for the taxable year. Provided, however, the amount allowable under this paragraph shall not exceed five thousand dollars, or twenty-five hundred dollars in the case of a married individual filing a separate return. (2) Nonresident or part-year resident estates or trusts.--An amount, not to exceed five thousand dollars, which bears the same proportion to five thousand dollars as its items of tax preference computed under subsection (b) of this section bear to the sum of the items of tax preference of such estate or trust computed as if it were a resident estate or trust under subsection (b) of section six hundred twenty-two for the taxable year but without regard to any apportionment of such items of tax preference between such estate or trust and the beneficiaries thereof as provided in such subsection (b) of section six hundred twenty-two. (d) Disallowance of credits.--The credits against tax under this article, except for the credits under paragraph four of subsection (c)and paragraph four of subsection (d) of section six hundred six and under section six hundred seventy-three shall not be allowed against the tax imposed by section six hundred two.
