Exceptions.
(b) Exceptions. An acquisition is not a stock or asset acquisition as defined under subdivision (a) of this section if the taxpayer can demonstrate that:
(1)the ratio of average aggregate debt, as defined in section 612(t)(4)(A) of the Tax Law, (see subdivision [d] of this section) to average aggregate equity, as defined in section 612(t)(4)(B) of the Tax Law, (see subdivision [e] of this secti#
(1) the ratio of average aggregate debt, as defined in section 612(t)(4)(A) of the Tax Law, (see subdivision [d] of this section) to average aggregate equity, as defined in section 612(t)(4)(B) of the Tax Law, (see subdivision [e] of this section) for the taxable year in which one or both of the events described in paragraphs (1) or (2) of subdivision (a) of this section occurred, does not increase by more than 100 percent over such ratio for the immediately preceding taxable year; or
(2)the ratio of average aggregate debt, as defined in section 612(t)(4)(A) of the Tax Law, (see subdivision [d] of this section), to average aggregate assets, as defined in section 612(t)(4)(C), (see subdivision [f] of this section), for the t#
(2) the ratio of average aggregate debt, as defined in section 612(t)(4)(A) of the Tax Law, (see subdivision [d] of this section), to average aggregate assets, as defined in section 612(t)(4)(C), (see subdivision [f] of this section), for the taxable year in which one or both of the events described in paragraphs (1) or (2) of subdivision (a) of this section occurred, does not increase by more than 60 percent over such ratio for the immediately preceding taxable year; or
(3)the total acquisition-related interest as defined in section 612(t)(3) of the Tax Law, (see subdivision [c] of this section) paid or accrued during the taxable year is less than one million dollars.#
(3) the total acquisition-related interest as defined in section 612(t)(3) of the Tax Law, (see subdivision [c] of this section) paid or accrued during the taxable year is less than one million dollars.