Tag: securitized assets
New York City Taxation of Corporate REMIC Residual Interest Holders by Mireille Zuckerman
I. Introduction In 2007, the New York Division of Tax Appeals ruled in Delta Financial that the starting point for determining New York State corporate entire net income includes Real Estate Mortgage Investment Conduit (REMIC) excess inclusion.[1] The effect of Delta Financial is that even if a corporation has net losses for a taxable year,…
19 Nov 2010