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(a) Resident and nonresident individuals. Where a resident or a nonresident individual has a short taxable period due to a change in accounting period (see section 604 of the Tax Law), such individual must file a New York State personal income tax return for such short taxable period if such individual meets any of the following conditions:
(1) such individual is a resident of New York State and is required to file a Federal income tax return for such short taxable period; or
(2) such individual's New York adjusted gross income for such period, determined under Part 112 of this Title (if such individual is a resident) or under Part 132 of this Title (if such individual is a nonresident), exceeds the prorated portion of such individual's New York personal exemptions, i.e., the amount which bears the same ratio to the full amount of New York personal exemptions as the number of months in the short period bears to 12 months. However, notwithstanding the provisions of the preceding sentence, a New York State nonresident personal income tax return must be filed for such short taxable period where a nonresident individual incurs a net operating loss for New York State personal income tax purposes but does not incur a net operating loss for Federal income tax purposes; or
(3) such individual's total New York items of tax preference, determined under section 122.1(b) of this Title (if such individual is a resident) or under section 141.1(b) of this Title (if such individual is a nonresident), exceeds the allowable specific deduction determined, respectively, under section 122.7(a) or section 141.2(a) of this Title; or
(4) such individual is subject to the separate tax imposed by section 601-D of the Tax Law upon the termination during such period of a qualified higher education fund; or
(5) such individual received a lump sum distribution during such period, any portion of which is subject to the separate tax imposed by section 601-C of the Tax Law.