Initial separate tax.
(c) Initial separate tax. The initial separate tax for any taxable year is an amount equal to 10 times the tax which would be imposed by section 601 of the Tax Law if the New York taxable income referred to in such section were an amount equal to one tenth of the excess of:
(1)the total taxable amount of the lump sum distribution for the taxable year (see subdivision [d] of this section for allocation of the death benefit exclusion where the total taxable amount for New York State purposes is less than the total#
(1) the total taxable amount of the lump sum distribution for the taxable year (see subdivision [d] of this section for allocation of the death benefit exclusion where the total taxable amount for New York State purposes is less than the total taxable amount for Federal purposes); over
(2)the minimum distribution allowance (see subdivision [e] of this section).#
(2) the minimum distribution allowance (see subdivision [e] of this section).