§ 290-A — Tax surcharge

New York § 290-A

• Jurisdiction: New York
• Law TAX: Tax
• Art. 13: Tax On Unrelated Business Income

Text

§ 290-A. Tax surcharge. 1. In addition to the tax imposed under\nsection two hundred ninety of this article, there is hereby imposed, for\ntaxable years ending after June thirtieth, nineteen hundred ninety and\nbefore July first, nineteen hundred ninety-seven, a tax surcharge at the\nrate of fifteen percent in the case of taxable years ending after June\nthirtieth, nineteen hundred ninety and before July first, nineteen\nhundred ninety-four, and until such rate is superseded; at the rate of\nten percent in the case of taxable years ending after June thirtieth,\nnineteen hundred ninety-four and before July first, nineteen hundred\nninety-five, and until such rate is superseded; at the rate of five\npercent in the case of taxable years ending after June thirtieth,\nnineteen hundred ninety-five and before July first, nineteen hundred\nninety-six, and until such rate is superseded; and at the rate of zero\npercent in the case of taxable years ending after June thirtieth,\nnineteen hundred ninety-six and before July first, nineteen hundred\nninety-seven, of the tax imposed under section two hundred ninety of\nthis article. However, the tax surcharge imposed by this section at the\nrate of fifteen percent shall not be imposed upon any taxpayer for more\nthan forty-eight months, and the tax surcharge imposed by this section\nat the rates of ten percent, five percent and zero percent shall not,\nrespectively, be imposed upon any taxpayer for more than twelve months,\nand the commissioner shall prescribe by regulation or instructions a\nmethod of proration designed to effectuate such result.\n 1-a. Insofar as subdivision one of this section establishes a rate of\nfifteen percent in the case of taxable years ending after June\nthirtieth, nineteen hundred ninety and before July first, nineteen\nhundred ninety-four and until such rate is superseded, a rate of ten\npercent in the case of taxable years ending after June thirtieth,\nnineteen hundred ninety-four and before July first, nineteen hundred\nninety-five and until such rate is superseded, a rate of five percent in\nthe case of taxable years ending after June thirtieth, nineteen hundred\nninety-five and before July first, nineteen hundred ninety-six and until\nsuch rate is superseded, and a rate of zero percent in the case of\ntaxable years ending after June thirtieth, nineteen hundred ninety-six\nand before July first, nineteen hundred ninety-seven, the transition\nfrom such rate of fifteen percent to such rate of ten percent, from such\nrate of ten percent to such rate of five percent, and from such rate of\nfive percent to such rate of zero percent, shall be deemed to occur,\nrespectively, on the first day of the seventh month of each of such\ntaxable years, with the result that for purposes of implementation of\nsuch changes in rates, and notwithstanding such subdivision one, there\nis hereby imposed with respect to all taxable years ending after June\nthirtieth, nineteen hundred ninety-four and before July first, nineteen\nhundred ninety-five, including taxable years of fewer than twelve\nmonths, a tax surcharge at the rate of twelve and one-half percent;\nthere is hereby imposed with respect to all taxable years ending after\nJune thirtieth, nineteen hundred ninety-five and before July first,\nnineteen hundred ninety-six, including taxable years of fewer than\ntwelve months, a tax surcharge at the rate of seven and one-half\npercent; and there is hereby imposed with respect to all taxable years\nending after June thirtieth, nineteen hundred ninety-six and before July\nfirst, nineteen hundred ninety-seven, including taxable years of fewer\nthan twelve months, a tax surcharge at the rate of two and one-half\npercent. In addition, for purposes of implementation of all the\nprovisions of this section references to ten percent shall be read as\nreferences to twelve and one-half percent, references to five percent\nshall be read as references to seven and one-half percent and references\nto zero percent shall be read as references to two and one-half percent.\n 2. The provisions concerning returns under section two hundred\nninety-four of this article shall be applicable to this section, except\nthat for purposes of an automatic extension for six months for filing a\nreturn covering the taxes imposed by this article, such automatic\nextension shall be allowed, for taxable years to which the tax surcharge\nimposed by this section applies, only if a taxpayer files with the\ncommissioner an application for extension in such form as the\ncommissioner may prescribe, and pays on or before the date of such\nfiling, in addition to any other amounts required under this article,\nfifteen percent in the case of taxable years ending after June\nthirtieth, nineteen hundred ninety and before July first, nineteen\nhundred ninety-four, ten percent in the case of taxable years ending\nafter June thirtieth, nineteen hundred ninety-four and before July\nfirst, nineteen hundred ninety-five, five percent in the case of taxable\nyears ending after June thirtieth, nineteen hundred ninety-five and\nbefore July first, nineteen hundred ninety-six, and zero percent in the\ncase of taxable years ending after June thirtieth, nineteen hundred\nninety-six and before July first, nineteen hundred ninety-seven, of the\namount properly estimated as provided in section two hundred ninety-four\nof this article as its tax payable under section two hundred ninety of\nthis article. The tax surcharge imposed by this section shall be payable\nto the commissioner in full at the time the return is required to be\nfiled.\n 3. Except as otherwise provided in this section, all of the provisions\nof this article shall apply to the tax surcharge imposed by this section\nwith such modifications as may be necessary to adapt such language to\nthe tax surcharge imposed by this section. Such provisions shall apply\nwith the same force and effect as if those provisions had been set forth\nin full in this section except to the extent that any provision is\neither inconsistent with a provision of this section or not relevant to\nthe tax surcharge imposed by this section, and to that end a reference\nin this article to the tax surcharge imposed by section two hundred\nninety shall be read as a reference to the tax surcharge imposed by this\nsection, and to the sum of such tax and such tax surcharge in the case\nof those provisions requiring such reading in order to effectuate the\npurposes of this provision, unless a different meaning is clearly\nrequired.\n