2012 New York Consolidated Laws
TAX - Tax
Article 32 - (1450 - 1468) Franchise Tax on Banking Corporations
1463 - Payment of tax.

 
    §  1463.  Payment of tax. (a) To the extent the tax imposed by section
  fourteen  hundred  fifty-one  of  this  article  shall  not  have   been
  previously paid pursuant to section fourteen hundred sixty-one,
    (1)  such  tax,  or  the  balance thereof, shall be payable to the tax
  commission in full at the time its return is required to be filed, and
    (2) such tax, or the balance thereof, imposed on  any  taxpayer  which
  ceased  to exercise its franchise or to be subject to the tax imposed by
  this article shall be payable to the tax  commission  at  the  time  the
  return  is  required  to  be  filed,  provided  such  tax  of a domestic
  corporation which continues to possess its franchise shall be subject to
  adjustment as the circumstances may require; all other taxes of any such
  taxpayer, which pursuant to the foregoing provisions of this  subsection
  would  otherwise  be  payable  subsequent  to  the  time  such return is
  required to be filed, shall nevertheless be payable at such time.
    (b) If the taxpayer, within the time prescribed by subsection  (c)  of
  section  fourteen hundred sixty-two, shall have applied for an automatic
  extension of time to file its annual return and shall have paid  to  the
  commissioner  of  taxation  and  finance  on  or  before  the  date such
  application is filed an amount properly estimated as  provided  by  said
  subsection  the  only  amount  payable  in  addition to the tax shall be
  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 cent per annum upon the amount by which the  tax,
  or portion thereof payable on or before the date the return was required
  to  be  filed,  exceeds  the  amount  so paid.   For the purposes of the
  preceding sentence:
    (1) an amount so paid shall be deemed  properly  estimated  if  it  is
  either  (i)  not  less  than  ninety  per  cent  of  the  tax as finally
  determined, or (ii) not less than the tax shown on the taxpayer's return
  for the preceding taxable year, if such preceding  year  was  a  taxable
  year of twelve months; and
    (2) the time when a return is required to be filed shall be determined
  without regard to any extension of time for filing such return.
    (c)  The  tax  commission may grant a reasonable extension of time for
  payment of any tax imposed by this article under such conditions  as  it
  deems just and proper.