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Can you summarize 20 NYCRR Chapter I, Subchapter B?
Franchise and Certain Business Taxes > Franchise Tax on Banking Corporations
Short Summary
The provided legal document content pertains to the Franchise Tax on Banking Corporations in New York. This tax governs the taxation of banking corporations operating in the state. It outlines the requirements, regulations, and procedures related to the franchise tax imposed on these corporations. The document applies to banking corporations that conduct business activities in New York. No specific exemptions are mentioned in the provided content. The penalties for non-compliance or violation of the Franchise Tax on Banking Corporations may vary depending on the specific circumstances and provisions of the tax law. It is advisable to refer to the relevant sections of the New York Codes, Rules and Regulations for detailed information on penalties.
Whom does it apply to?
Banking corporations operating in New York
What does it govern?
Franchise Tax on Banking Corporations
What are exemptions?
No specific exemptions are mentioned in the provided content
What are the Penalties?
Penalties for non-compliance or violation of the Franchise Tax on Banking Corporations may vary depending on the specific circumstances and provisions of the tax law. It is advisable to refer to the relevant sections of the New York Codes, Rules and Regulations for detailed information on penalties.
Jurisdiction
New York