New York Laws
Part 1 - Corporate Structure
656 - Contributions to Corporation; Tax Deduction Thereof.

§ 656. Contributions to corporation; tax deduction thereof.
Notwithstanding the provisions of any general or special law all
domestic corporations or associations organized for the purpose of
carrying on business in this state, and any person, are hereby
authorized to make contributions to the New York state higher education
services corporation or to the New York higher education loan program
variable rate default reserve fund, the New York higher education loan
program fixed rate default reserve fund, or the state of New York
mortgage agency higher education loan program default reserve fund, as
applicable and such contributions shall be allowed as deductions in
computing the net taxable income of any such person, corporation or
association for purposes of any income or franchise tax imposed by the
state or any political subdivision thereof.

Structure New York Laws