2006 New York Code - Temporary Metropolitan Transportation Business Tax Surcharge On Insurance Corporations.

 
    § 1505-a. Temporary metropolitan transportation business tax surcharge
  on insurance corporations.  (a) (1) Every domestic insurance corporation
  and  every  foreign  or  alien  insurance  corporation,  and  every life
  insurance corporation described in subdivision (b)  of  section  fifteen
  hundred  one  of  this  article,  for  the  privilege  of exercising its
  corporate franchise, or of doing business, or of employing  capital,  or
  of   owning   or   leasing   property   in   the  metropolitan  commuter
  transportation district in a corporate  or  organized  capacity,  or  of
  maintaining  an  office  in  the  metropolitan  commuter  transportation
  district, for all or any part of its  taxable  years  commencing  on  or
  after  January  first,  nineteen  hundred  eighty-two, but ending before
  December thirty-first, two thousand nine, except corporations  specified
  in  subdivision  (c)  of section fifteen hundred twelve of this article,
  shall annually pay, in addition to the taxes otherwise imposed  by  this
  article,  a  tax surcharge on the taxes imposed under this article after
  the deduction of any credits otherwise allowable under this  article  as
  allocated  to  such  district.  Such  taxes  shall  be allocated to such
  district for purposes of computing such  tax  surcharge  upon  taxpayers
  subject  to  tax under subdivision (b) of section fifteen hundred ten of
  this article by applying the methodology,  procedures  and  computations
  set forth in subdivisions (a) and (b) of section fifteen hundred four of
  this  article,  except  that  references  to  terms  denoting  New  York
  premiums, and total wages, salaries, personal service  compensation  and
  commissions  within  New  York  shall  be  read  as  denoting within the
  metropolitan commuter transportation district and terms  denoting  total
  premiums  and  total  wages, salaries, personal service compensation and
  commissions shall be read as denoting within  the  state.  If  it  shall
  appear  to  the  commissioner  that  the application of the methodology,
  procedures and computations set forth in such subdivisions (a)  and  (b)
  does not properly reflect the activity, business or income of a taxpayer
  within  the  metropolitan  commuter  transportation  district,  then the
  commissioner shall be authorized, in the commissioner's  discretion,  to
  adjust  such methodology, procedures and computations for the purpose of
  allocating such taxes by:
    (A) excluding one or more factors therein;
    (B) including one or more other factors  therein,  such  as  expenses,
  purchases,  receipts  other  than  premiums,  real  property or tangible
  personal property; or
    (C) any other similar or different method which allocates  such  taxes
  by  attributing  a  fair  and  proper  portion  of  such  taxes  to  the
  metropolitan commuter transportation  district.  The  commissioner  from
  time  to  time shall publish all rulings of general public interest with
  respect to any application of the provisions of the preceding  sentence.
  The  commissioner  may  promulgate  rules  and  regulations  to  further
  implement the provisions of this section.
    (2) Such taxes shall be allocated to such  district  for  purposes  of
  computing such tax surcharge upon taxpayers subject to tax under section
  fifteen  hundred  two-a  of  this  article  pursuant  to a fraction, the
  denominator of which shall be the direct premiums subject to  tax  under
  section  fifteen hundred ten of this article, and the numerator of which
  shall be the direct  premiums  subject  to  tax  under  section  fifteen
  hundred  ten  of  this  article  that  are  written  on risks located or
  resident in the metropolitan commuter transportation district, including
  premiums written, procured or  received  in  the  metropolitan  commuter
  transportation district on business that cannot be specifically assigned
  as  located  or  resident  in  an  area  of  New  York state outside the
  metropolitan commuter transportation district, or in  another  state  or
  states;  provided,  however,  in  the case of special risk premiums, the
  numerator  shall  include  only  those  premiums  written,  procured  or
  received   in  the  metropolitan  commuter  transportation  district  on
  property or risks located  or  resident  in  the  metropolitan  commuter
  transportation district. If it shall appear to the commissioner that the
  application of the methodology, procedures and computations set forth in
  this  paragraph  does  not  properly  reflect  the activity, business or
  income of a taxpayer within  the  metropolitan  commuter  transportation
  district,   then   the   commissioner   shall   be  authorized,  in  the
  commissioner's discretion, to adjust such  methodology,  procedures  and
  computations  for the purpose of allocating such taxes by: (A) excluding
  the factor therein and including one  or  more  other  factors  such  as
  expenses,  purchases,  receipts  other  than  premiums, real property or
  tangible personal property; or (B) any other similar or different method
  which allocates such taxes by attributing a fair and proper  portion  of
  such  taxes  to  the  metropolitan commuter transportation district. The
  commissioner from time to time shall  publish  all  rulings  of  general
  public interest with respect to any application of the provisions of the
  preceding   sentence.   The   commissioner   may  promulgate  rules  and
  regulations to further implement the provisions of this section.
    (3) Such tax surcharge shall be computed at the rate of  eighteen  per
  centum  of  the  taxes  imposed  under  sections fifteen hundred one and
  fifteen hundred ten of  this  article  as  limited  by  section  fifteen
  hundred  five  of  this article, as allocated to such district, for such
  taxable years or any part of such taxable years ending  before  December
  thirty-first,  nineteen  hundred eighty-three after the deduction of any
  credits otherwise allowable under this article, at the rate of seventeen
  per centum of the taxes  imposed  under  such  sections  as  limited  by
  section  fifteen  hundred  five  of  this  article, as allocated to such
  district, for such taxable years or  any  part  of  such  taxable  years
  ending  on or after December thirty-first, nineteen hundred eighty-three
  and before January first, two thousand three after the deduction of  any
  credits  otherwise  allowable  under  this  article,  and at the rate of
  seventeen per centum of the taxes imposed under sections fifteen hundred
  one, fifteen hundred two-a, and fifteen hundred ten of this article,  as
  limited  or  otherwise  determined  by subdivision (a) or (b) of section
  fifteen hundred five of this article, as allocated to such district, for
  such taxable years or any  part  of  such  taxable  years  ending  after
  December  thirty-first,  two  thousand  two  after  the deduction of any
  credits otherwise allowable under this article; provided, however,  that
  the  tax surcharge imposed by this section shall not be imposed upon any
  taxpayer for  more  than  three  hundred  twenty-four  months.  Provided
  however,  that  for taxable years commencing on or after July first, two
  thousand, and in the case of taxpayers  subject  to  tax  under  section
  fifteen  hundred  two-a  of  this  article,  for  taxable  years of such
  taxpayers beginning on or after July  first,  two  thousand  and  before
  January first, two thousand three, such surcharge shall be calculated as
  if  (i)  the rate of the tax computed under paragraph one of subdivision
  (a) of section fifteen hundred two of this article was nine percent  and
  (ii)  the  rate  of  the  limitation on tax set forth in section fifteen
  hundred five of this article for domestic, foreign and  alien  insurance
  corporations  except  life insurance corporations was two and six-tenths
  percent.
    (b) The term metropolitan commuter transportation district as used  in
  this  section  shall  be  defined  pursuant  to  section  twelve hundred
  sixty-two of the public authorities law.
    (c) Notwithstanding any contrary provisions of state or local law, the
  tax surcharge imposed under this section  shall  not  be  allowed  as  a
  deduction  in  the  computation  of any state or local tax imposed under
  this chapter or any chapter or local  law.  The  credits  set  forth  in
  section  fifteen  hundred  eleven  of  this article shall not be allowed
  against the tax surcharge imposed by this section.
    (d)  (1) If, by the laws of any state other than this state, or by the
  action of any public official of such other state, any insurer organized
  or domiciled in this state,  or  the  duly  authorized  agents  thereof,
  subject  to  the business tax surcharge imposed by this section shall be
  required to pay taxes for the privilege of doing business in such  other
  state  which  taxes are imposed or assessed because of the taxes imposed
  or assessed under this section, in computing the  tax  imposed  by  this
  section  a credit shall be allowed for taxes paid to other states, which
  credit shall be determined pursuant to the provisions of  this  section;
  provided, however, the credit allowed any insurer under this subdivision
  shall  in  no  event  be  greater than the tax surcharge payable by such
  insurer pursuant to this section for the taxable year  with  respect  to
  which such amount has been imposed or assessed by such other states.
    (2)  In addition to any other requirements of this article, an insurer
  claiming a credit under this subdivision shall  attach  to  the  returns
  required pursuant to this section and section fifteen hundred fifteen of
  this  article a computation identifying the credit attributable to taxes
  paid to other states because  of  the  tax  surcharge  imposed  by  this
  section,  which  credit  shall be further broken down to reflect amounts
  and taxable years to which the retaliatory  taxes  giving  rise  to  the
  credit  relate.  The  credit  attributable to taxes paid to other states
  because of the tax surcharge  imposed  by  this  section  shall  be  the
  difference between: (i) the credit which would be claimed by the insurer
  pursuant  to  subdivision  (c) of section fifteen hundred eleven of this
  chapter if the tax surcharge imposed by this section were  permitted  in
  the  computation of such credit, and (ii) the credit which is claimed by
  such insurer pursuant to such subdivision (c).
    (3) To the  extent  not  inconsistent  with  the  provisions  of  this
  subdivision,  the  provisions of paragraphs four and five of subdivision
  (c) of section fifteen hundred eleven of this chapter shall  apply  with
  respect to the credit allowed under this subdivision.
    (4)  No  credit  against  taxes  paid  to  other  jurisdictions  under
  subdivision (c) of section fifteen hundred eleven of this article  shall
  be  allowed  for  any  taxes  paid  under  this  section by any domestic
  insurance corporation, including life insurance corporations subject  to
  tax under this section.
    (e)  The  provisions  concerning returns under section fifteen hundred
  fifteen of this article shall be applicable to this section, except that
  for purposes of an automatic extension  for  six  months  for  filing  a
  return  covering  the  tax  surcharges  imposed  by  this  section, such
  automatic extension shall be allowed only if a taxpayer files  with  the
  commissioner  an  application  for  extension in such form and manner as
  said commissioner may prescribe by regulation and such taxpayer pays  on
  or  before  the  date  of  such  filing in addition to any other amounts
  required under this article, either ninety percent  of  the  entire  tax
  required to be paid under this section for the applicable period, or not
  less  than  the  tax  surcharge  shown  on the taxpayer's return for the
  preceding taxable year, if such preceding taxable  year  was  a  taxable
  year  of  twelve months. The tax surcharge imposed by this section shall
  be payable to the commissioner  in  full  at  the  time  the  return  is
  required  to  be  filed,  and such tax surcharge or the balance thereof,
  imposed on any taxpayer which ceases to exercise  its  franchise  or  be
  subject to the tax surcharge imposed by this section shall be payable to
  the  commissioner  at  the  time  the  return  is  required to be filed,
  provided such tax surcharge of such domestic, foreign or alien insurance
  corporation including  life  insurance  corporations,  as  described  in
  subdivision (b) of section fifteen hundred one of this article, shall be
  subject  to  adjustment  as the circumstances may require; all other tax
  surcharges  of  any  such  taxpayer,  which  pursuant  to  the foregoing
  provisions of this section would otherwise be payable subsequent to  the
  time  such return is required to be filed, shall nevertheless be payable
  at such time. All of the provisions of this article presently applicable
  are applicable to the tax surcharge imposed by this section.