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N.Y. General City Model 772/66 Law § 22

Items not deductible

New York · New York General City Model 772/66 Law · Status: effective · Effective 2014-09-22

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N.Y. General City Model 772/66 Law § 22, Items not deductible, New York, version 1 as recorded 2026-07-25, yourstate.us, https://yourstate.us/provision/1109136
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§ 22. Items not deductible. In computing net income no deduction shall in any case be allowed in respect of: (a) Any amount paid out for new buildings or for permanent improvements or betterments made to increase the value of any property. (b) Any amount expended in restoring property or in making good the exhaustion thereof for which an allowance is or has been made.