§ 11-626 — Inventory
New York City Administrative Code (current through L.L. 2026/147, enacted September 12, 2026, and amendments effective through October 10, 2026) · NYC Admin. Code § 11-626
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§ 11-626 Inventory.
Whenever in the opinion of the commissioner of finance the use of inventories is necessary in order clearly to determine the income of any taxpayer, inventory shall be taken by such taxpayer upon such basis as the commissioner of finance may prescribe, conforming as nearly as may be to the best accounting practice in the banking business and most clearly reflecting the income.