Fidelity National Loses Appeal for Lower NY Corporate Tax Rate

Fidelity National Information Services Inc. can’t claim New York’s reduced corporate tax rate for qualified emerging technology companies because not all of its subsidiaries meet the requirements, a state judge ruled in an opinion released Thursday.

Division of Tax Appeals Administrative Law Judge Winifred M. Maloney rejected the company’s argument that the state tax department should have assessed its eligibility as one combined group rather than looking at each subsidiary’s eligibility.

New York’s corporate franchise tax regime provides a preferential rate for companies located in the state “whose primary products or services are classified as emerging technologies.”

Maloney referred to ...