2006 New York Code - Assessment, Refund, Collection, Review And Reserves.

 
    §  11-906 Assessment, refund, collection, review and reserves. (a) The
  provisions of the civil practice law and rules or any other law relative
  to limitations of time for the enforcement of a civil remedy  shall  not
  apply  to  any  proceeding  or  action by the commissioner of finance to
  levy, assess, determine or enforce the collection of  tax,  interest  or
  penalty  imposed  by  this  chapter.  However,  except  in the case of a
  wilfully false or fraudulent report, no assessment  of  additional  tax,
  interest  or  penalty  shall  be  made after the expiration of more than
  three years from the date of the filing of a report, provided,  however,
  that  where  no  report has been filed as provided by law the tax may be
  assessed at any time.  The  commissioner  of  finance  shall  refund  or
  credit, with interest at the overpayment rate set by the commissioner of
  finance  pursuant  to  subdivision (g) of section 11-905 of this chapter
  or, if no rate is set, at the rate of six  percent  per  annum  computed
  from  the  date  of  overpayment  to  a  date  (to  be determined by the
  commissioner of finance) preceding the date of a  refund  check  by  not
  more  than  thirty  days,  any  tax,  penalty  or  interest erroneously,
  illegally or unconstitutionally collected or paid if application to  the
  commissioner  of finance for such refund shall be made within six months
  from  the  payment  thereof.  Notice  of  any   determination   of   the
  commissioner  of  finance with respect to an assessment of tax, interest
  or penalty or with respect to a claim for refund or  any  other  notice,
  demand  or  request shall be given by mailing the same to the insurer to
  the address of its New York city office last filed with the commissioner
  of finance or, if there is no such office, to the address  of  its  main
  office last filed with the commissioner of finance or, in the absence of
  any  filed address, to such address as may be obtainable. The mailing of
  any notice, demand or request by the commissioner of  finance  shall  be
  presumptive  evidence  of  its  receipt by the insurer and any period of
  time to be determined with reference  to  the  giving  of  such  notice,
  demand  or  request shall commence to run from the date of such mailing.
  The determination of the  commissioner  of  finance  shall  finally  and
  irrevocably  fix the amount of any tax, interest or penalty due or to be
  refunded unless the taxpayer, within ninety days  after  the  giving  of
  notice  of  such  determination,  or  if the commissioner of finance has
  established a conciliation procedure pursuant to section 11-124  of  the
  code  and  the  taxpayer  has  requested  a  conciliation  conference in
  accordance  therewith,  within  ninety  days  from  the  mailing  of   a
  conciliation  decision or the date of the commissioner's confirmation of
  the discontinuance of the conciliation proceeding,  both  (1)  serves  a
  petition  upon the commissioner of finance and (2) files a petition with
  the tax appeals tribunal for a hearing, or unless  the  commissioner  of
  finance  of  his  or  her  own  motion  shall redetermine the same. Such
  hearing and any appeal to the tax appeals tribunal sitting en banc  from
  the  decision  rendered in such hearing shall be conducted in the manner
  and subject to the requirements prescribed by the tax  appeals  tribunal
  pursuant  to  sections  one  hundred  sixty-eight  through  one  hundred
  seventy-two of the charter. After such hearing the tax appeals  tribunal
  shall   give  notice  of  its  decision  to  the  taxpayer  and  to  the
  commissioner of finance  with  reference  to  the  amount  of  the  tax,
  interest  or penalty assessed or to be refunded. The decision of the tax
  appeals  tribunal  sitting  en  banc  shall  be  reviewable  for  error,
  illegality  or  unconstitutionality or any other reason, by a proceeding
  under article seventy-eight of the civil practice law and rules if  such
  proceeding  is commenced by the person against whom the tax was assessed
  within four months after the giving of the notice of  such  tax  appeals
  tribunal  decision.  Such  proceeding  shall  not  be  commenced  by the
  taxpayer unless: (1) the amount of any tax assessed  and  sought  to  be


  reviewed  with  penalties  and  interest thereon, if any, shall be first
  deposited with the commissioner of finance and there shall be filed with
  the commissioner of finance an undertaking in such amount and with  such
  sureties  as a justice of the supreme court shall approve, to the effect
  that if such proceeding be dismissed  or  the  decision  confirmed,  the
  taxpayer  will  pay  all  costs and charges which may accrue against the
  taxpayer in the prosecution of the proceeding, or (2) in the case  of  a
  review of a decision assessing any taxes, penalties and interest, at the
  option  of  the taxpayer, such undertaking may be in a sum sufficient to
  cover all of the taxes, penalties and interest assessed by such decision
  plus the costs and charges which may accrue against the taxpayer in  the
  prosecution  of the proceeding, in which event the taxpayer shall not be
  required to deposit such taxes, penalties and interest  as  a  condition
  precedent  to  the  commencement  of the proceeding. No determination or
  proposed determination of tax, interest or penalty due or to be refunded
  shall be reviewed or enjoined in any manner except as set forth herein.
    (b) In cases where the taxpayer has  applied  for  a  refund  and  has
  commenced a proceeding under article seventy-eight of the civil practice
  law  and  rules to review a decision of the tax appeals tribunal adverse
  to such taxpayer on its application for a refund,  the  commissioner  of
  finance  shall  set up appropriate reserves to meet any decision adverse
  to the city.
    (c) In computing the amount of interest to be paid under this section,
  such interest shall be compounded daily.