§ 197-A — Declaration of estimated tax

New York § 197-A

• Jurisdiction: New York
• Law TAX: Tax
• Art. 9: Corporation Tax

Text

§ 197-a. Declaration of estimated tax. 1. Every taxpayer subject to\nthe taxes imposed under sections one hundred eighty-two, one hundred\neighty-two-a, former section one hundred eighty-two-b, one hundred\neighty-four, one hundred eighty-six-a or one hundred eighty-six-e of\nthis article shall make a declaration of its estimated tax for the\ncurrent taxable year, containing such information as the commissioner\nmay prescribe by regulations or instructions, if such estimated tax can\nreasonably be expected to exceed one thousand dollars. If a taxpayer is\nsubject to the tax surcharge imposed under section one hundred\neighty-four-a or one hundred eighty-six-c of this article and such\ntaxpayer's estimated tax under section one hundred eighty-four or one\nhundred eighty-six-a of this article, respectively, can reasonably be\nexpected to exceed one thousand dollars, such taxpayer shall also make a\ndeclaration of its estimated tax surcharge for the current taxable year.\n 2. The terms "estimated tax" and "estimated tax surcharge" mean the\namounts which the taxpayer estimates to be the taxes or tax surcharges,\nrespectively, imposed by the sections enumerated in subdivision one\nhereof for the current taxable year, less the sum of any credits which\nit estimates to be allowable against such taxes or tax surcharges,\nrespectively.\n 3. A declaration of estimated tax and a declaration of estimated tax\nsurcharge shall be filed on or before June fifteenth of the current\ntaxable year in the case of a taxpayer which reports on the basis of a\ncalendar year, except that if the requirements of subdivision one of\nthis section are first met:\n (a) after May thirty-first and before September first of such current\ntaxable year, the declaration shall be filed on or before September\nfifteenth, or\n (b) after August thirty-first and before December first of such\ncurrent taxable year, the declaration shall be filed on or before\nDecember fifteenth.\n 4. A taxpayer may amend a declaration of estimated tax or a\ndeclaration of estimated tax surcharge under regulations prescribed by\nthe commissioner of taxation and finance.\n 5. If, on or before February fifteenth of the succeeding year in the\ncase of a taxpayer whose taxable year is a calendar year, a taxpayer\nfiles its return for the year for which the declaration is required, and\npays therewith the balance, if any, of the full amount of the tax or tax\nsurcharge shown to be due on the return:\n (a) such return shall be considered as its declaration if no\ndeclaration was required to be filed during the taxable year for which\nthe tax or tax surcharge was imposed, but is otherwise required to be\nfiled on or before December fifteenth pursuant to paragraph (b) of\nsubdivision three of this section, and\n (b) such return shall be considered as the amendment permitted by\nsubdivision four of this section to be filed on or before December\nfifteenth if the tax or tax surcharge shown on the return is greater\nthan the estimated tax or estimated tax surcharge, as the case may be,\nshown on a declaration previously made.\n 6. If the taxable period for which a tax or tax surcharge is imposed\nunder any of the sections enumerated in subdivision one hereof is other\nthan twelve months, every taxpayer required to make a declaration of\nestimated tax or a declaration of estimated tax surcharge for such\ntaxable period shall make such declaration in accordance with rules of\nthe commissioner.\n 7. This section shall apply to taxable periods of twelve months other\nthan a calendar year by the substitution of the months of such fiscal\nyear for the corresponding months specified in this section.\n 8. The tax commission may grant a reasonable extension of time, not to\nexceed three months, for the filing of any declaration required pursuant\nto this section, on such terms and conditions as it may require.\n