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The Laws of New York
Unconsolidated Laws of New York
CHAPTER 772
General City Model 772/66
PART 3
Financial Corporation Tax
SUBPART 2
Tax On National Banking Associations and Production Credit Associations
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SECTION 25
Ascertainment of gain or loss; exchange of property
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SUBPART 2
Tax On National Banking Associations and Production Credit Associations
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SECTION 27
Net income defined; computation
This entry was published on 2014-09-22
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SECTION 26
Inventory
General City Model 772/66 (GCM) CHAPTER 772, PART 3, SUBPART 2
§ 26. 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.