|Income Tax Exemption|
|New York law exempts nonprofit hospitals from state income tax.
New York exempts from taxation the net income of a non-stock corporation that is organized and operated on a nonprofit basis if no part of its net earnings inure to the benefit of any officer, director, or member. A nonprofit corporation that is exempt from federal income tax pursuant to Internal Revenue Code §501(a) is presumed to be exempt from state income tax. 20 N.Y. Comp. Codes R. & Regs. §1-3.4(b)(6).