§ 2. Persons subject to tax.--(a) Imposition of tax.--A tax determined
in accordance with the rates set forth in this local law is hereby
imposed for each taxable year, ending on or after July first, nineteen
hundred sixty-six, but commencing prior to January first, nineteen
hundred seventy-six, on the city taxable income of every resident
individual, resident estate and trust.

(b) Partners and partnerships.-- A partnership as such shall not be
subject to tax under this local law. Persons carrying on business as
partners shall be liable for tax under this local law only in their
separate or individual capacities.

(c) Associations taxable as corporations.-- An association, trust or
other unincorporated organization which is taxable as a corporation for
federal income tax purposes shall not be subject to tax under this local
law.

(d) 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 be exempt from tax under this local law
(regardless of whether subject to federal income tax on unrelated
business taxable income).

(e) Cross references.-- For definitions of city taxable income of:

(1) Resident individual, see section eleven.

(2) Resident estate or trust, see section eighteen.