On September 2, 2015, the New York State Department of Taxation and Finance released draft amendments to the Article 9-A corporate franchise tax regulations to address significant changes relating to statutory nexus under recently enacted corporate tax reform legislation. The changes include the adoption of economic nexus standards that went into effect for tax years beginning on or after January 1, 2015.

This release is the first time that the Department has posted draft regulation amendments on its website seeking public comment prior to formally proposing those amendments under the State Administrative Procedure Act, likely due to the broad scope of the tax reform legislation. The Department is inviting comments on the draft amendments by December 3, 2015.

Read the text of the draft regulation amendments.