§ 103. Unincorporated business defined. (a) General.--An
unincorporated business means any trade, business, profession or
occupation conducted, engaged in or being liquidated by an individual or
unincorporated entity, including a partnership or fiduciary or a
corporation in liquidation, but not including any entity subject to tax
under any local law imposed pursuant to section one of the act
authorizing the adoption of this title and not including any entity
doing an insurance business as a member or members of the New York
insurance exchange described in paragraph (a) of subdivision one of
section four hundred twenty-five-a of the insurance law.

Unincorporated businesses subject to tax under a local law of the city
imposing a tax on utilities shall not be subject to tax under this part;
provided, however, that unincorporated businesses, other than utility
businesses subject to the supervision of the state department of public
service, which are subject to tax under a local law of the city imposing
a tax on vendors of utility services shall be subject to tax under this
part on that percentage of their entire net income allocable to the city
under section one hundred seven which their receipts other than those
taxable under such local law taxing vendors of utility services is of
their total receipts. If an individual or an unincorporated entity
carries on two or more unincorporated businesses, all such businesses
shall be treated as one unincorporated business for the purposes of this
title.

(b) Services as employee, et cetera.--The performance of services by
an individual as an employee or as an officer or director of a
corporation, society, association, or political entity, or as a
fiduciary, shall not be deemed an unincorporated business, unless such
services constitute part of a business regularly carried on by such
individual.

(d) Purchase and sale for own account.--An individual or other
unincorporated entity, except a dealer holding property primarily for
sale to customers in the ordinary course of his trade or business, shall
not be deemed engaged in an unincorporated business solely by reason of
the purchase and sale of property for his own account, but this
subdivision shall not apply if the unincorporated entity is taxable as a
corporation for federal income tax purposes.

(e) Holding, leasing or managing real property.--An owner of real
property, a lessee or a fiduciary shall not be deemed engaged in an
unincorporated business solely by reason of holding, leasing or managing
real property.

(f) Sales representative.--An individual, other than one who maintains
an office or who employs one or more assistants or who otherwise
regularly carries on a business, shall not be deemed engaged in an
unincorporated business solely by reason of selling goods, wares,
merchandise or insurance for more than one enterprise. For purposes of
this subdivision, space utilized solely for the display of merchandise
and/or for the maintenance and storage of records normally used in the
course of business shall not be deemed an office, and the employment of
clerical and secretarial assistance shall not be deemed the employment
of assistants.

(g) Exempt trusts and organizations.--A trust or other unincorporated
organization which by reason of its purposes or activities is exempt
from federal income tax shall not be deemed an unincorporated business
(regardless of whether subject to federal income tax on unrelated
business taxable income).