Corporate income and franchise taxes in New York
Corporate taxpayers in New York State pay tax equal to the highest amount calculated under three alternative tax bases:
*Unitary business refers to business activities or operations, which are of mutual benefit, dependent upon, or contributory to one another, individually or as a group. It is characterized by unity of ownership, functional integration, centralization of management and economies of scale. The term can be applied within a single legal entity or between multiple entities and without regard to whether each entity is a corporation, a partnership or a trust. In Amoco Corp. v. Comm'r of Revenue, 658 N.W.2d 859, 865 (Minn. 2003), the court held that a business is unitary when the operation of the business within the state is dependent upon or contributory to the operation of the business outside the state.