§ 73 — Assessment

New York § 73

• Jurisdiction: New York
• Law GCM: General City Model 772/66
• Part 6: (corporate Tax Procedure and Administration)

Text

§ 73. Assessment. 1. Assessment date.--The amount of tax which a\nreturn shows to be due, or the amount of tax which a return would have\nshown to be due but for a mathematical error, shall be deemed to be\nassessed on the date of filing of the return (including any amended\nreturn showing an increase of tax). If a notice of deficiency has been\nmailed, the amount of the deficiency shall be deemed to be assessed on\nthe date specified in subdivision two of section seventy-two if no\npetition to the director of finance is filed, or if a petition is filed,\nthen upon the date when a decision of the director of finance\nestablishing the amount of the deficiency becomes final. If a report or\nan amended return filed pursuant to part two or part three of this title\nconcedes the accuracy of a federal adjustment or change or correction or\nrenegotiation, or computation or recomputation of tax, any deficiency in\ntax under part two or part three of this title resulting therefrom shall\nbe deemed to be assessed on the date of filing such report or amended\nreturn, and such assessment shall be timely notwithstanding section\nseventy-four. If a report filed pursuant to part two of this title\nconcedes the accuracy of a state change or correction of sales and\ncompensating use tax liability, any deficiency in tax under part two of\nthis title resulting therefrom shall be deemed assessed on the date of\nfiling such report, and such assessment shall be timely notwithstanding\nsection seventy-four. If a notice of additional tax due, as prescribed\nin subdivision five of section seventy-two, has been mailed, the amount\nof the deficiency shall be deemed to be assessed on the date specified\nin such subdivision unless within thirty days after the mailing of such\nnotice a report of the federal adjustment or change or correction or\nrenegotiation or computation or recomputation of tax, or an amended\nreturn, where such return was required by part two or part three of this\ntitle, is filed accompanied by a statement showing wherein such federal\ndetermination and such notice of additional tax due are erroneous. If a\nnotice of additional tax due, as prescribed in subdivision nine of\nsection seventy-two, has been mailed, the amount of the deficiency shall\nbe deemed to be assessed on the date specified in such subdivision\nunless within thirty days after the mailing of such notice a report of\nthe state change or correction, or a copy of an amended return or\nreport, where such copy was required by part two of this title, is filed\naccompanied by a statement showing wherein such state determination and\nsuch notice of additional tax due are erroneous. Any amount paid as a\ntax or in respect of a tax, other than amounts paid as estimated tax,\nshall be deemed to be assessed upon the date of receipt of payment\nnotwithstanding any other provisions.\n 2. Other assessment powers.--If the mode or time for the assessment of\nany tax under the named parts (including interest, additions to tax and\nassessable penalties) is not otherwise provided for, the director of\nfinance may establish the same by regulations.\n 3. Estimated tax.--No unpaid amount of estimated tax under part two or\npart three shall be assessed.\n 4. Supplemental assessment.--The director of finance may, at any time\nwithin the period described for assessment, make a supplemental\nassessment, subject to the provisions of section seventy-two where\napplicable, whenever it is ascertained that any assessment is imperfect\nor incomplete in any material respect.\n 5. Cross reference.--For assessment in case of jeopardy, see section\neighty-five.\n