N.Y. Tax Law 451 – Definitions
§ 451. Definitions. For purposes of this article, the term:
Terms Used In N.Y. Tax Law 451
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Fiduciary: A trustee, executor, or administrator.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
1. "Gross receipts from ticket sales" shall mean the total gross receipts of every person from the sale of tickets to any authorized combative sport held in this state, and without any deduction whatsoever for commissions, brokerage, distribution fees, advertising or any other expenses, charges and recoupments in respect thereto.
2. "Gross receipts from broadcasting rights" shall mean the total gross receipts of every person from the sale, lease or other exploitation of broadcasting, television and motion picture rights of such match or exhibition held in this state, to the extent only, however, that such price shall be attributable to transmissions and presentations received or exhibited in this state, and without any deductions whatsoever for commissions, brokerage, distribution fees, advertising or any other expenses, charges and recoupments in respect thereto.
3. "Person" includes a corporation, association, club, company, partnership, limited liability company, estate, trust, liquidator, fiduciary or other entity or individual liable for the tax imposed by this article or under a duty to perform an act under this article.
4. "Authorized combative sport" shall mean any combative sport authorized pursuant to § 1001 of the general business law.