2006 New York Code - Payments On Account Of Estimated Tax.

 
    §   213-b.   Payments   on  account  of  estimated  tax.--* (a)  First
  installments for certain  taxpayers.--In  privilege  periods  of  twelve
  months  ending  at  any  time  during the calendar year nineteen hundred
  seventy and thereafter, every taxpayer subject to  the  tax  imposed  by
  section  two  hundred  nine  of  this  chapter shall pay with the report
  required to be filed for the preceding  privilege  period,  or  with  an
  application  for extension of the time for filing such report, an amount
  equal to (i) twenty-five percent of the preceding  year's  tax  if  such
  preceding  year's  tax exceeded one thousand dollars but was equal to or
  less than one hundred thousand dollars, or (ii) thirty  percent  of  the
  preceding  year's  tax if such preceding year's tax exceeded one hundred
  thousand dollars.   If such  preceding  year's  tax  under  section  two
  hundred  nine  of  this  chapter  exceeded one thousand dollars and such
  taxpayer is subject to the tax surcharge imposed by section two  hundred
  nine-B  of  this  chapter,  such  taxpayer  shall  also pay with the tax
  surcharge report required  to  be  filed  for  the  preceding  privilege
  period, or with an application for extension of the time for filing such
  report,  an amount equal to (i) twenty-five percent of the tax surcharge
  imposed for the preceding year if such preceding year's tax was equal to
  or less than one hundred thousand dollars, or (ii) thirty percent of the
  tax surcharge imposed for the preceding year if  such  preceding  year's
  tax exceeded one hundred thousand dollars.
    * NB Repealed January 1, 2007
    * NB  Not applicable to taxable years beginning on or after January 1,
  2006
    * (a) First installments for certain taxpayers.--In privilege  periods
  of  twelve  months  ending at any time during the calendar year nineteen
  hundred seventy and  thereafter,  every  taxpayer  subject  to  the  tax
  imposed  by  section two hundred nine of this chapter shall pay with the
  report required to be filed for the preceding privilege period, or  with
  an  application  for  extension  of  the time for filing such report, an
  amount equal to twenty-five per centum of the preceding year's  tax,  if
  such  preceding  year's  tax  exceeded  one  thousand  dollars.  If such
  preceding year's tax under section two  hundred  nine  of  this  chapter
  exceeded  one  thousand  dollars and such taxpayer is subject to the tax
  surcharge imposed by section two hundred nine-B of  this  chapter,  such
  taxpayer  shall  also  pay  with the tax surcharge report required to be
  filed for the preceding privilege period, or  with  an  application  for
  extension  of  the  time  for  filing  such  report,  an amount equal to
  twenty-five percent of the tax surcharge imposed for the preceding year.
    * NB Effective January 1, 2007
    (b) Other installments.--In privilege periods of twelve months  ending
  at  any  time  during  the  calendar  year  nineteen hundred seventy and
  thereafter, the estimated tax or estimated tax surcharge,  with  respect
  to  which  a  declaration for such privilege period is required shall be
  paid, in the case of a taxpayer which reports on the basis of a calendar
  year, as follows:
    (1) If the declaration is filed  on  or  before  June  fifteenth,  the
  estimated  tax  or estimated tax surcharge shown thereon, after applying
  thereto the amount, if  any,  paid  during  the  same  privilege  period
  pursuant  to subdivision (a), shall be paid in three equal installments.
  One of such installments shall be paid at the time of the filing of  the
  declaration, one shall be paid on the following September fifteenth, and
  one on the following December fifteenth.
    (2)  If  the  declaration  is filed after June fifteenth and not after
  September fifteenth of such privilege period, and is not required to  be
  filed  on  or before June fifteenth of such period, the estimated tax or
  estimated tax  surcharge  shown  on  such  declaration,  after  applying
  thereto  the  amount,  if  any,  paid  during  the same privilege period
  pursuant to subdivision (a), shall be paid in  two  equal  installments.
  One  of such installments shall be paid at the time of the filing of the
  declaration and one shall be paid on the following December fifteenth.
    (3)  If  the  declaration  is  filed after September fifteenth of such
  privilege period, and is not required to be filed on or before September
  fifteenth of such privilege period, the estimated tax or  estimated  tax
  surcharge  shown on such declaration, after applying thereto the amount,
  if any, paid in respect of such privilege period pursuant to subdivision
  (a), shall be paid in full at the time of the filing of the declaration.
    (4) If the declaration is filed after the time prescribed therefor, or
  after the expiration of any extension of time therefor,  paragraphs  (2)
  and  (3) of this subdivision shall not apply, and there shall be paid at
  the time of such filing all installments of estimated tax  or  estimated
  tax  surcharge  payable  at  or  before  such  time,  and  the remaining
  installments shall be paid at the times at which, and in the amounts  in
  which,  they  would  have been payable if the declaration had been filed
  when due.
    (c) Amendments of declaration.--If any amendment of a  declaration  is
  filed, the remaining installments, if any, shall be ratably increased or
  decreased  (as  the  case may be) to reflect any increase or decrease in
  the  estimated  tax  or  estimated  tax  surcharge  by  reason  of  such
  amendment, and if any amendment is made after September fifteenth of the
  privilege  period,  any  increase  in the estimated tax or estimated tax
  surcharge by reason thereof shall be paid at the  time  of  making  such
  amendment.
    (d)   Application  of  installments  based  on  the  preceding  year's
  tax.--(1) Any amount paid pursuant to subdivision (a) shall  be  applied
  after  payment  as  a  first  installment  against  the estimated tax or
  estimated tax surcharge, respectively, of the taxpayer for  the  current
  privilege  period shown on the declaration required to be filed pursuant
  to section two hundred thirteen-a of this chapter or, if no  declaration
  of estimated tax or a declaration of estimated tax surcharge is required
  to  be  filed  by the taxpayer pursuant to such section, any such amount
  shall be considered a payment on account of the  tax  or  tax  surcharge
  shown  on  the  report  required  to  be  filed by the taxpayer for such
  privilege period.
    (2) Any amount paid pursuant to paragraph four of  subsection  (c)  of
  section  six hundred fifty-eight of this chapter on behalf of a taxpayer
  subject to tax under this article shall be applied against the estimated
  tax of the taxpayer for  the  taxable  year  shown  on  the  declaration
  required  to be filed pursuant to section two hundred thirteen-a of this
  article, or if no declaration is filed pursuant  to  such  section,  any
  such  amount  shall be considered a payment on account of the tax on the
  return required to be filed by the taxpayer for such taxable year.
    (e) Interest on certain installments based  on  the  preceding  year's
  tax.--Notwithstanding   the   provisions   of   section   one   thousand
  eighty-eight of this chapter or of section sixteen of the state  finance
  law,  if  an  amount paid pursuant to subdivision (a) exceeds the tax or
  tax surcharge, respectively, shown on the report required to be filed by
  the taxpayer for the privilege period during which the amount was  paid,
  interest  shall be allowed and paid on the amount by which the amount so
  paid pursuant to such subdivision exceeds such tax or tax surcharge.  In
  the  case  of amounts so paid pursuant to subdivision (a), such interest
  shall  be  allowed  and  paid  at  the  overpayment  rate  set  by   the
  commissioner  of  taxation  and finance pursuant to section one thousand
  ninety-six of this chapter, or if no rate is set, at the rate of six per
  centum per annum from the date of payment of the amount so paid pursuant
  to such subdivision to the fifteenth day of the  third  month  following
  the close of the taxable year, provided, however, that no interest shall
  be  allowed or paid under this subdivision if the amount thereof is less
  than  one dollar or if such interest becomes payable solely because of a
  carryback of a net operating loss in a subsequent privilege period.
    (f) The preceding year's tax defined.-- As used in this section,  "the
  preceding year's tax" means the tax imposed upon the taxpayer by section
  two  hundred  nine  of this chapter for the preceding calendar or fiscal
  year, or, for purposes of computing the first installment  of  estimated
  tax  when  an  application  has been filed for extension of the time for
  filing the report required to be filed for such  preceding  calendar  or
  fiscal  year,  the  amount  properly  estimated  pursuant to section two
  hundred thirteen of this chapter as the tax imposed  upon  the  taxpayer
  for such calendar or fiscal year.
    (g)  Application  to short privilege period.--This section shall apply
  to a privilege period of less than  twelve  months  in  accordance  with
  regulations of the tax commission.
    (h)  Fiscal  year.--The  provisions  of  this  section  shall apply to
  privilege periods of twelve months other than a  calendar  year  by  the
  substitution  of  the  months  of such fiscal year for the corresponding
  months specified in such provisions.
    (i) Extension of time.--The commissioner of taxation and  finance  may
  grant  a  reasonable  extension  of  time, not to exceed six months, for
  payment of any installment of estimated tax or estimated  tax  surcharge
  required  pursuant  to  this section, on such terms and conditions as he
  may require, including the furnishing of a bond or other security by the
  taxpayer in an amount not exceeding  twice  the  amount  for  which  any
  extension of time for payment is granted, provided however that interest
  at the underpayment rate set by the commissioner pursuant to section one
  thousand  ninety-six  of this chapter, or if no rate is set, at the rate
  of six per centum per annum for the period of  the  extension  shall  be
  charged  and collected on the amount for which any extension of time for
  payment is granted under this subdivision.
    (j) Payment of installments in advance.--A taxpayer may elect  to  pay
  any installment of estimated tax or estimated tax surcharge prior to the
  date prescribed in this section for payment thereof.