N.Y. Comp. Codes R. & Regs. tit. 20 § 137.5

Current through Register Vol. 46, No. 45, November 2, 2024

Section 137.5 - Application of rules for resident partners to nonresident partners

Tax Law, § 637(e)

(a) A nonresident partner's distributive share of partnership items is determined under section 117.3 of this Title.

(b) The character of partnership items for a nonresident partner is determined under section 117.4 of this Title.

(c) Where a special provision in a partnership agreement (other than the provision referred to in section 137.2 of this Part) has as its principal purpose the avoidance or evasion of New York State personal income tax, each partner's distributive share must be determined in accordance with the provisions of section 117.5 of this Title.

N.Y. Comp. Codes R. & Regs. Tit. 20 § 137.5