Section 11-601. Definitions

When used in subchapters one through five:
    1.  "Taxpayer"  means  any corporation, association or other entity or
  individual subject to tax under this chapter;
    2. "State", "the state" or "this state" means the state of New York;
    3. "Tax law",  "insurance  law",  "private  housing  finance  law",  "
  environmental  conservation  law",  "public housing law", "state finance
  law",  "general  municipal  law",  "public  service  law",  "   workers'
  compensation  law",  "business corporation law", "civil practice law and
  rules", "criminal procedure law", and "banking law" refer to laws of the
  state;
    4. "Superintendent of insurance", and "commissioner of  health"  refer
  to officials of the state;
    5.  "Commissioner of finance" means the commissioner of finance of the
  city;
    6. "Department of finance" means the  department  of  finance  of  the
  city;
    7. "Domestic corporation" means a corporation organized under the laws
  of the state; and
    8.  "Tax  appeals tribunal" means the tax appeals tribunal established
  by section one hundred sixty-eight of the charter.
    10. "REIT" means a real estate investment trust as defined in  section
  eight hundred fifty-six of the internal revenue code.
    11.  "RIC"  means a regulated investment company as defined in section
  eight hundred fifty-one of the internal revenue code.
    12. "Captive REIT" means a REIT (a) that is not regularly traded on an
  established securities market, and (b) more than fifty  percent  of  the
  voting stock of which is owned or controlled, directly or indirectly, by
  a  single  corporation that is not exempt from federal income tax and is
  not a REIT. Any voting stock in a REIT that  is  held  in  a  segregated
  asset  account  of a life insurance corporation (as described in section
  eight hundred seventeen of the internal revenue code) shall not be taken
  into account for purposes of determining whether a  REIT  is  a  captive
  REIT.
    13.  "Captive  RIC" means a RIC (a) that is not regularly traded on an
  established securities market, and (b) more than fifty  percent  of  the
  voting stock of which is owned or controlled, directly or indirectly, by
  a  single  corporation that is not exempt from federal income tax and is
  not a RIC. Any voting stock in a RIC that is held in a segregated  asset
  account  of  a life insurance corporation (as described in section eight
  hundred seventeen of the internal revenue code) shall not be taken  into
  account for purposes of determining whether a RIC is a captive RIC.
    14.  Unless  a different meaning is clearly required, any term used in
  this chapter shall have the same meaning as when used  in  a  comparable
  context  in  the  laws  of  the United States relating to federal income
  taxes, and any reference to the laws of the United States shall mean the
  provisions of the internal revenue code of nineteen hundred  fifty-four,
  and  amendments  thereto, and other provisions of the laws of the United
  States relating to federal income taxes, as the same are included in the
  appendix to this chapter. (The quotation of the aforesaid  laws  of  the
  United States is intended to make them a part of any appropriate chapter
  and  to  avoid  constitutional  uncertainties which might result if such
  laws were merely incorporated by reference. The quotation of a provision
  of the federal internal revenue code or of any other law of  the  United
  States  shall  not  necessarily  mean  that  it  is applicable to or has
  relevance to any of the chapters.)