§ 36 — Payments of estimated tax

New York § 36

• Jurisdiction: New York
• Law GCT: General City
• Part 3: Returns, Declarations and Payment of Tax
• Art. 2-D: City Personal Income Tax On Residents

Text

§ 36. Payments of estimated tax.-- (a) General.-- The estimated tax\nwith respect to which a declaration is required shall be paid as\nfollows:\n (1) If the declaration is filed on or before April fifteenth of the\ntaxable year, the estimated tax shall be paid in four equal\ninstallments. The first installment shall be paid at the time of the\nfiling of the declaration, and the second, third and fourth installments\nshall be paid on the following June fifteenth, September fifteenth, and\nJanuary fifteenth, respectively.\n (2) If the declaration is filed after April fifteenth and not after\nJune fifteenth of the taxable year, and is not required to be filed on\nor before April fifteenth of the taxable year, the estimated tax shall\nbe paid in three equal installments. The first installment shall be\npaid at the time of the filing of the declaration, and the second and\nthird installments shall be paid on the following September fifteenth\nand January fifteenth, respectively.\n (3) If the declaration is filed after June fifteenth and not after\nSeptember fifteenth of the taxable year, and is not required to be filed\non or before June fifteenth of the taxable year, the estimated tax shall\nbe paid in two equal installments. The first installment shall be paid\nat the time of the filing of the declaration, and the second shall be\npaid on the following January fifteenth.\n (4) If the declaration is filed after September fifteenth of the\ntaxable year, and is not required to be filed on or before September\nfifteenth of the taxable year, the estimated tax shall be paid in full\nat the time of the filing of the declaration.\n (5) If the declaration is filed after the time prescribed therefor, or\nafter the expiration of any extension of time therefor, paragraphs two,\nthree and four of this subdivision shall not apply, and there shall be\npaid at the time of such filing all installments of estimated tax\npayable at or before such time, and the remaining installments shall be\npaid at the times at which, and in the amounts in which, they would have\nbeen payable if the declaration had been filed when due.\n (b) Farmers.--If an individual referred to in subdivision (e) of\nsection thirty-five (relating to income from farming) makes a\ndeclaration of estimated tax after September fifteenth of the taxable\nyear and on or before the following January fifteenth, the estimated tax\nshall be paid in full at the time of the filing of the declaration.\n (c) Amendments of declaration.--If any amendment of a declaration is\nfiled, the remaining installments, if any, shall be ratably increased or\ndecreased (as the case may be) to reflect any increase or decrease in\nthe estimated tax by reason of such amendment, and if any amendment is\nmade after September fifteenth of the taxable year, any increase in the\nestimated tax by reason thereof shall be paid at the time of making such\namendment.\n (d) Application to short taxable year.--This section shall apply to a\ntaxable year of less than twelve months in accordance with regulations\nof the administrator.\n (e) Fiscal year.--This section shall apply to a taxable year other\nthan a calendar year by the substitution of the months of such fiscal\nyear for the corresponding months specified in this section.\n (f) Installments paid in advance.--An individual may elect to pay any\ninstallment of his estimated tax prior to the date prescribed for its\npayment.\n (g) Cross reference.--For taxpayers with taxable years beginning prior\nto the date this local law becomes operative, see section forty-one.\n