§ 34 — Payment of tax

New York § 34

• Jurisdiction: New York
• Law GCM: General City Model 772/66
• Part 3: Financial Corporation Tax
• Subpart 3: Administration For Subparts 1 and 2

Text

§ 34. Payment of tax. Each taxpayer shall, at the time of filing its\nreturn, pay to the director of finance\n (a) the amount of tax payable hereunder as the same shall appear from\nthe face of the return, or\n (b) if payments of estimated tax have been made pursuant to section\nthirty-five of this part, the balance, if any, of the tax payable\nhereunder, as the same shall appear from the face of the return, after\napplying thereto any payments made pursuant to said section.\nIf the time for filing the return shall be extended, the taxpayer shall\npay in addition interest at the rate of six percentum per annum from the\ntime when the return was originally required to be filed to the time of\npayment upon the amount by which the tax, or the portion thereof payable\nwhen the return was required to be filed, exceeds the amount then paid:\n (1) a payment made on or before the date of filing of an application\nfor an automatic extension shall be deemed properly estimated if it is\neither (A) not less than ninety percentum of the tax as finally\ndetermined, or (B) not less than the tax shown on the taxpayer's return\nfor the preceding taxable year, if such preceding year was a taxable\nyear of twelve months; and\n (2) the time when a return is required to be filed shall be determined\nwithout regard to any extension of time for filing such return.\n