Legislation

Search OpenLegislation Statutes

The Laws of New York
Unconsolidated Laws of New York
CHAPTER 772
General City Model 772/66
PART 3
Financial Corporation Tax
SUBPART 1
Tax On State Banks, Trust Companies, Financial Corporations and Savings and Loan Associations
previous
SECTION 16
Exchange of property when no gain or loss is realized
up
SUBPART 1
Tax On State Banks, Trust Companies, Financial Corporations and Savings and Loan Associations
next
SECTION 18
Net income defined
This entry was published on 2014-09-22
The selection dates indicate all change milestones for the entire volume, not just the location being viewed. Specifying a milestone date will retrieve the most recent version of the location before that date.
SECTION 17
Inventory
General City Model 772/66 (GCM) CHAPTER 772, PART 3, SUBPART 1
§ 17. Inventory. Whenever in the opinion of the director of finance
the use of inventories is necessary in order clearly to determine the
income of any taxpayer, inventory shall be taken by such taxpayer upon
such basis as the director of finance may prescribe, conforming as
nearly as may be to the best accounting practice in the banking business
and most clearly reflecting the income.