Chapter 241 — Chapter 241

§241-1 Definitions. As used in this chapter unless a different meaning appears from the context: "Bank" means and includes any national banking association and any bank chartered or licensed pursuant to chapter 412. "Building and loan association" means any corporation that has b…

§241-1.5 Time of application of tax and other provisions. (a) The tax imposed by this chapter applies to every bank, building and loan association, development company, financial corporation, financial services loan company, trust company, mortgage loan company, financial holding…

§241-2 Imposition of tax on national banking associations; construction; exemption from other taxes, except real property tax. (a) Every national banking association located or doing business in the State shall annually pay a franchise tax according to, or measured by, its net in…

§241-3 Imposition of tax on other banks, building and loan associations, financial services loan companies, financial corporations, small business investment companies, trust companies, mortgage loan companies, financial holding companies, development companies, and subsidiaries.…

§241-3.5 Deduction from entire net income. There shall be allowed as a deduction from entire net income to the extent not deductible in determining federal taxable income, the adjusted eligible net income of an international banking facility, as defined in section 412:5-206, dete…

§241-4 Measure and rate of tax. (a) The measure of the tax imposed by this chapter is the entire net income from all sources for the preceding calendar year, or in the case of a taxpayer operating on a fiscal year basis, for the preceding fiscal year. The tax shall be at the rate…

§241-4.5 Capital goods excise tax credit. The capital goods excise tax credit provided under section 235-110.7 shall be operative for this chapter after December 31, 1987; provided that the capital goods excise tax credit shall be inoperative after December 31, 2008, and before J…

§241-4.6 Renewable energy technologies; income tax credit. The renewable energy technologies income tax credit provided under section 235-12.5 shall be operative for this chapter for taxable years beginning after December 31, 2002; provided that the system was installed after Jun…

§241-4.8 High technology business investment tax credit. The high technology business investment tax credit provided under section 235-110.9 shall be operative for this chapter on July 1, 1999. [L 1999, c 178, §26; am L 2009, c 178, §6; am L 2017, c 3, §2]

§241-5 Returns; payment of tax. Returns made on the basis of the calendar year shall be made and filed, and the tax imposed by this chapter shall be paid, on or before April 20 following the close of the calendar year. Returns made on the basis of a fiscal year shall be made and …

§241-6 Chapter 235 applicable. All of the provisions of chapter 235 not inconsistent with this chapter, and which may be appropriately applied to the taxes, persons, circumstances, and situations involved in this chapter, including without prejudice to the generality of the foreg…

§241-7 Disposition of funds. From the revenues collected under this chapter each fiscal year, the sum representing the first $2,000,000 of such revenues shall be deposited with the director of finance to the credit of the compliance resolution fund as established pursuant to sect…