§ 210. Computation of tax. 1. The tax imposed by subdivision one of\nsection two hundred nine of this chapter shall be: (A) in the case of\neach taxpayer other than a New York S corporation or a qualified\nhomeowners association, the highest of the amounts prescribed in\nparagraphs (a), (b), and (d) of this subdivision, (B) in the case of\neach New York S corporation, the amount prescribed in paragraph (d) of\nthis subdivision, and (C) in the case of a qualified homeowners\nassociation, the highest of the amounts prescribed in paragraphs (a) and\n(b) of this subdivision. For purposes of this paragraph, the term\n"qualified homeowners association" means a homeowners association, as\nsuch term is defined in subsection (c) of section five hundred\ntwenty-eight of the internal revenue code without regard to subparagraph\n(E) of paragraph one of such subsection (relating to elections to be\ntaxed pursuant to such section), which has no homeowners association\ntaxable income, as such term is defined in subsection (d) of such\nsection. Provided, however, that in the case of a small business\ntaxpayer (other than a New York S corporation) as defined in paragraph\n(f) of this subdivision, for taxable years beginning before January\nfirst, two thousand sixteen, if the amount prescribed in such paragraph\n(b) is higher than the amount prescribed in such paragraph (a) solely by\nreason of the application of the rate applicable to small business\ntaxpayers, then with respect to such taxpayer the tax referred to in the\nprevious sentence shall be higher of the amounts prescribed in\nparagraphs (a) and (d) of this subdivision.\n (a) Business income base. For taxable years beginning before January\nfirst, two thousand sixteen, the amount prescribed by this paragraph\nshall be computed at the rate of seven and one-tenth percent of the\ntaxpayer's business income base. For taxable years beginning on or after\nJanuary first, two thousand sixteen, the amount prescribed by this\nparagraph shall be six and one-half percent of the taxpayer's business\nincome base. For taxable years beginning on or after January first, two\nthousand twenty-one and before January first, two thousand twenty-seven\nfor any taxpayer with a business income base for the taxable year of\nmore than five million dollars, the amount prescribed by this paragraph\nshall be seven and one-quarter percent of the taxpayer's business income\nbase. The taxpayer's business income base shall mean the portion of the\ntaxpayer's business income apportioned within the state as hereinafter\nprovided. However, in the case of a small business taxpayer, as defined\nin paragraph (f) of this subdivision, the amount prescribed by this\nparagraph shall be computed pursuant to subparagraph (iv) of this\nparagraph and in the case of a manufacturer, as defined in subparagraph\n(vi) of this paragraph, the amount prescribed by this paragraph shall be\ncomputed pursuant to subparagraph (vi) of this paragraph, and, in the\ncase of a qualified emerging technology company, as defined in\nsubparagraph (vii) of this paragraph, the amount prescribed by this\nparagraph shall be computed pursuant to subparagraph (vii) of this\nparagraph.\n (iv) for taxable years beginning before January first, two thousand\nsixteen, if the business income base is not more than two hundred ninety\nthousand dollars the amount shall be six and one-half percent of the\nbusiness income base; if the business income base is more than two\nhundred ninety thousand dollars but not over three hundred ninety\nthousand dollars the amount shall be the sum of (1) eighteen thousand\neight hundred fifty dollars, (2) seven and one-tenth percent of the\nexcess of the business income base over two hundred ninety thousand\ndollars but not over three hundred ninety thousand dollars and (3) four\nand thirty-five hundredths percent of the excess of the business income\nbase over three hundred fifty thousand dollars but not over three\nhundred nin
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