New York § 43*2 Single member limited liability companies and eligibility for tax credits

New York Statutes

§ 43*2 — Single member limited liability companies and eligibility for tax credits

New York § 43*2

Law TAXTax

Art. 1Short Title; Definitions; Miscellaneous

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Bluebook

N.Y. Tax § 43*2 (2026).

Text

  * § 43. Single member limited liability companies and eligibility for\ntax credits. A limited liability company that has a single member and is\ndisregarded as an entity separate from its owner for federal income tax\npurposes (without reference to any special rules related to the\nimposition of certain federal taxes, including but not limited to\ncertain employment and excise taxes) shall be disregarded as an entity\nseparate from its owner for purposes of determining whether or not the\ntaxpayer that is the single member of such limited liability company\nsatisfies the requirements to be eligible for any tax credit allowed\nunder article nine, nine-A, twenty-two or thirty-three of this chapter\nor allowed under article thirty-two of this chapter prior to the repeal\nof such article. Su

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* § 43. Single member limited liability companies and eligibility for\ntax credits. A limited liability company that has a single member and is\ndisregarded as an entity separate from its owner for federal income tax\npurposes (without reference to any special rules related to the\nimposition of certain federal taxes, including but not limited to\ncertain employment and excise taxes) shall be disregarded as an entity\nseparate from its owner for purposes of determining whether or not the\ntaxpayer that is the single member of such limited liability company\nsatisfies the requirements to be eligible for any tax credit allowed\nunder article nine, nine-A, twenty-two or thirty-three of this chapter\nor allowed under article thirty-two of this chapter prior to the repeal\nof such article. Such requirements, including but not limited to any\nnecessary certification, employment or investment thresholds, payment\nobligations, and any time period for eligibility, shall be imposed on\nthe taxpayer and the determination of whether or not such requirements\nhave been satisfied and the computation of the credit shall be made by\ndeeming such taxpayer and such limited liability company to be a single\nentity. If the taxpayer is the single member of more than one limited\nliability company that is disregarded as an entity separate from its\nowner, the determination of whether or not the requirements to be\neligible for any tax credit allowed under article nine, nine-A,\ntwenty-two or thirty-three of this chapter or allowed under article\nthirty-two of this chapter prior to the repeal of such article have been\nsatisfied and the computation of the credit shall be made by deeming\nsuch taxpayer and such limited liability companies to be a single\nentity.\n * NB There are 2 § 43's\n