N.Y. GCM Law § 28

§ 28. Gross income defined. 1. The term "gross income" includes gains,\nprofit and income derived from the business, of whatever kind and in\nwhatever form paid, including gains, profits or income from dealings in\nproperty, whether real or personal, or gains, profits, or income\nreceived as compensation for services, as interest, rents, commissions,\nbrokerage or other fees, or otherwise in carrying on such business,\nincluding all dividends received on stocks and all interest received\nfrom federal, state, municipal or other bonds.\n 2. If the gross income of such an association is derived from business\ncarried on both within and without the city, "gross income" means that\nproportion thereof which is derived from business carried on within the\ncity, to be allocated and determined on the basis of separate accounting\nfor each office or branch or, at the election of the taxpayer, under\nrules and regulations prescribed by the director of finance.\n