2006 New York Code - Returns.

 
    §  1515. Returns. (a) Every taxpayer and every other foreign and alien
  insurance corporation having an employee, including any officer, in this
  state or  having  an  agent  or  representative  in  this  state,  shall
  annually,  on  or  before the fifteenth day of the third month following
  the close of its taxable year, transmit to the tax commission  a  return
  in  a  form  prescribed  by it setting forth such information as the tax
  commission may prescribe and every taxpayer which ceases to exercise its
  franchise or to be subject to the tax  imposed  by  this  article  shall
  transmit to the tax commission a return on the date of such cessation or
  at  such other time as the tax commission may require covering each year
  or period for which no return was theretofore  filed.  A  copy  of  each
  return  required under this subdivision shall also be transmitted to the
  superintendent of insurance at or before the times specified for  filing
  such returns with the tax commission.
    (b)  Every  taxpayer  shall  also transmit such other returns and such
  facts  and  information  as  the  tax  commission  may  require  in  the
  administration of this article.
    (c)  The  tax  commission may grant a reasonable extension of time for
  filing returns whenever good cause exists. An automatic extension of six
  months for the  filing  of  its  annual  return  shall  be  allowed  any
  taxpayer,  if  within  the  time  prescribed  by  subdivision  (a), such
  taxpayer files with the tax commission an application for  extension  in
  such  form  as  said  commission may prescribe and pays on or before the
  date of such filing the amount properly estimated as its tax.
    (d) Every return shall have annexed thereto  a  certification  by  the
  president,   vice   president,  treasurer,  assistant  treasurer,  chief
  accounting officer or any other officer of the taxpayer duly  authorized
  so  to act to the effect that the statements contained therein are true.
  The fact that an individual's name is signed on a certification  of  the
  return  shall be prima facie evidence that such individual is authorized
  to sign and certify the return on behalf of the corporation.
    (e)  Report  of  changed  or  corrected  federal   income   or   final
  determination  of  refund  or  credit  of  retaliatory  taxes  or  other
  charges.--* (1) If the amount of taxable income  for  any  year  of  any
  taxpayer as returned to the United States treasury department is changed
  or corrected by the commissioner of internal revenue or other officer of
  the  United  States  or  other  competent authority, such taxpayer shall
  report such change or corrected taxable income within ninety days  after
  the  final  determination of such change or correction or as required by
  the tax commission, and shall concede the accuracy of such determination
  or state wherein it is erroneous. Any taxpayer filing an amended  return
  with  such  department  shall also file within ninety days thereafter an
  amended  return  with  the  tax  commission  which  shall  contain  such
  information  as it shall require. The allowance of a tentative carryback
  adjustment based upon a net operating loss carryback or net capital loss
  carryback pursuant to section sixty-four hundred eleven of the  internal
  revenue  code  of  nineteen  hundred  fifty-four,  as  amended, shall be
  treated as a final determination for purposes of this subdivision.
    * NB Applies to taxable years prior to December 31, 1986
    * (1) If the amount of  the  life  insurance  company  taxable  income
  (which  shall  include,  in  the  case of a stock life insurance company
  which has an existing  policyholders  surplus  account,  the  amount  of
  direct   and   indirect   distributions   during  the  taxable  year  to
  shareholders from such account), taxable  income  of  a  partnership  or
  taxable  income,  as  the  case  may  be, or alternative minimum taxable
  income for any year of any taxpayer as returned  to  the  United  States
  treasury  department  is  changed  or  corrected  by the commissioner of
  internal revenue  or  other  officer  of  the  United  States  or  other
  competent authority, such taxpayer shall report such change or corrected
  taxable  income or alternative minimum taxable income within ninety days
  (or one hundred twenty days, in the case of a taxpayer making a combined
  return  under  this article for such year) after the final determination
  of such change or correction or as required  by  the  commissioner,  and
  shall  concede the accuracy of such determination or state wherein it is
  erroneous. Any taxpayer filing an amended return  with  such  department
  shall  also  file within ninety days (or one hundred twenty days, in the
  case of a taxpayer making a combined return under this article for  such
  year)  thereafter  an  amended  return with the commissioner which shall
  contain  such  information  as  the  commissioner  shall  require.   The
  allowance of a tentative carryback adjustment based upon a net operating
  loss  carryback  or  net  capital  loss  carryback  pursuant  to section
  sixty-four hundred eleven of  the  internal  revenue  code  or  upon  an
  operations  loss  carryback pursuant to section eight hundred ten of the
  internal revenue code, shall be treated as  a  final  determination  for
  purposes of this subdivision.
    * NB Applies to taxable years beginning after December 31, 1986
    (2)  If  a  taxpayer  has  paid  taxes  to another state pursuant to a
  statute similar to section  one  thousand  one  hundred  twelve  of  the
  insurance  law or any other statute or regulation of another state under
  which retaliatory taxes or other charges were imposed or  assessed,  for
  which  taxes  or  charges  paid  the  taxpayer has been allowed a credit
  pursuant to subdivision (c) of section fifteen hundred  eleven  of  this
  article, and thereafter such taxes or charges are adjudged by a court of
  competent  jurisdiction  or  other  competent  authority  to  have  been
  erroneously paid or illegally or unconstitutionally imposed  and,  after
  exhaustion of all further judicial review there is a final determination
  that  a refund or credit is due the taxpayer, such taxpayer shall report
  such final determination, along with the amount refunded or credited  or
  to  be  refunded  or  credited, within ninety days of its issuance or as
  required by the tax commission.
    (f) In the discretion of the commissioner, any taxpayer, which owns or
  controls either directly or indirectly  substantially  all  the  capital
  stock  of  one  or  more  other  corporations,  or substantially all the
  capital stock of  which  is  owned  or  controlled  either  directly  or
  indirectly  by  one or more other corporations or by interests which own
  or control either directly or indirectly substantially all  the  capital
  stock of one or more other corporations, may be required or permitted to
  make  a  return on a combined basis covering any such other corporations
  and setting forth such information  as  the  commissioner  may  require;
  provided,  however, that no combined return covering any corporation not
  a taxpayer shall be required unless the commissioner deems  such  return
  necessary  because  of  intercompany  transactions  or  some  agreement,
  understanding, arrangement or transaction referred to in subdivision (g)
  of this section, in order properly to reflect the  tax  liability  under
  this  article.    In  the  case  of  a combined return, the tax shall be
  measured by the combined entire net income or combined  capital  of  all
  the  corporations  included in the return.  In computing combined entire
  net income intercorporate dividends shall be  eliminated,  in  computing
  combined  business  and  investment capital intercorporate stockholdings
  and intercorporate bills, notes and accounts receivable and payable  and
  other  intercorporate  indebtedness shall be eliminated and in computing
  combined  subsidiary  capital  intercorporate  stockholdings  shall   be
  eliminated.    No taxpayer subject to the tax imposed by section fifteen
  hundred two-b of this  article  may  be  required  or  permitted  to  be
  included in a combined return.
    (g)  In case it shall appear to the tax commission that any agreement,
  understanding or arrangement exists between the taxpayer and  any  other
  corporation,  or  any  person  or  firm  whereby the activity, business,
  income or capital of the taxpayer within  the  state  is  improperly  or
  inaccurately  reflected,  the tax commission is authorized and empowered
  in its discretion and in such manner as  it  may  determine,  to  adjust
  items  of income, deductions and capital and to eliminate items entering
  into the computing of any  allocation  percentage,  provided  only  that
  income  directly  traceable  thereto  be  also  excluded from entire net
  income, so as equitably to determine the tax.  Where  (a)  any  taxpayer
  conducts  its  activity  or business under any agreement, arrangement or
  understanding in such manner as either directly or indirectly to benefit
  its members or stockholders, or any of them, or any  person  or  persons
  directly  or  indirectly  interested  in  such  activity or business, by
  entering into any transaction at more or less than a fair  price  which,
  but  for  such  agreement, arrangement or understanding, might have been
  paid or received therefor, or (b) any taxpayer, a substantial portion of
  whose capital stock is owned either directly or  indirectly  by  another
  corporation,  enters into any transaction with such other corporation on
  such terms as to  create  an  improper  loss  or  net  income,  the  tax
  commission may include in entire net income the fair profits, which, but
  for  such  agreement,  arrangement  or understanding, the taxpayer might
  have derived from such transaction.