§ 84 — Transferees

New York § 84

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

Text

§ 84. Transferees. 1. General.--The liability, at law or in equity,\nof a transferee of property of a taxpayer for any tax, additions to tax,\npenalty or interest due the director of finance under this part or under\nthe named parts, shall be assessed, paid, and collected in the same\nmanner and subject to the same provisions and limitations as in the case\nof the tax to which the liability relates, except that the period of\nlimitations for assessment against the transferee shall be extended by\none year for each successive transfer, in order, from the original\ntaxpayer to the transferee involved, but not by more than three years in\nthe aggregate. The term transferee includes, in case of successive\ntransfers, donee, heir, legatee, devisee, distributee, and successor by\nmerger, consolidation or other reorganization.\n 2. Exceptions.--\n (a) If before the expiration of the period of limitations for\nassessment of liability of the transferee, a claim has been filed by the\ndirector of finance in any court against the original taxpayer or the\nlast preceding transferee based upon the liability of the original\ntaxpayer, then the period of limitation for assessment of liability of\nthe transferee shall in no event expire prior to one year after such\nclaim has been finally allowed, disallowed or otherwise disposed of.\n (b) If, before the expiration of the time prescribed in subdivision\none or the immediately preceding paragraph of this subdivision for the\nassessment of the liability, the director of finance and the transferee\nhave both consented in writing to its assessment after such time, the\nliability may be assessed at any time prior to the expiration of the\nperiod agreed upon. The period so agreed upon may be extended by\nsubsequent agreements in writing made before the expiration of the\nperiod previously agreed upon. For the purpose of determining the period\nof limitation on credit or refund to the transferee or overpayments of\ntax made by such transferee or overpayments of tax made by the\ntransferor as to which the transferee is legally entitled to credit or\nrefund, such agreement and any extension thereof shall be deemed an\nagreement and extension thereof referred to in subdivision two of\nsection seventy-eight. If the agreement is executed after the expiration\nof the period of limitation for assessment against the original\ntaxpayer, then in applying the limitations under subdivision two of\nsection seventy-eight on the amount of the credit or refund, the periods\nspecified in subdivision one of section seventy-eight shall be increased\nby the period from the date of such expiration to the date of the\nagreement.\n 3. Period for assessment against certain transferors.--For purposes of\nthis section, if any person is deceased or is a corporation which has\nterminated its existence, the period of limitation for assessment\nagainst such person or corporation shall be the period that would be in\neffect had death or termination of existence not occurred.\n 4. Evidence.--The director of finance shall use his powers to make\navailable to the transferee evidence necessary to enable the transferee\nto determine the liability of the original taxpayer and of any preceding\ntransferees, but without undue hardship to the original taxpayer or\npreceding transferee. See subdivision three of section eighty for rule\nas to burden of proof.\n