NY State Department of Taxation Repurchase Agreements and Securities Loans
Published on:
November 30, 2007
SIFMA provides comments to the New York State Department of Taxation and Finance on proposed regulations on repurchase agreements and securities loans. The proposed regulations were published in the New York State Register on October 24, 2007 and addresses the treatment of repurchase agreements and securities loans under the New York State corporation franchise tax (CFT). SIFMA believes the proposed regulations are consistent with, and not authorized by, the Tax Law and that, if adopted, the will be invalidated by the courts.