The Clearing House Association submitted a letter to the New York State Department of Taxation and Finance responding to their request for background information on § 1256 of the Internal Revenue Code and also responding to public comments made on March 17 by the New York State Tax Commissioner. TCH provided information on § 1256 in support of our request that the proposed corporate tax reform legislation include not only assets marked-to-market under IRC § 475 but also assets marked-to-market under Code § 1256. We also listed the few issues with respect to corporate tax reform that we believe had been left open at the end of last year and/or we would like to discuss further with the Department.