§ 693 — Transferees

New York § 693

• Jurisdiction: New York
• Law TAX: Tax
• Part 6: Procedure and Administration
• Art. 22: Personal Income Tax

Text

§ 693. Transferees.--(a) 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 tax commission under this article, shall be\nassessed, paid, and collected in the same manner and subject to the same\nprovisions and limitations as in the case of the tax to which the\nliability relates, except that the period of limitations for assessment\nagainst the transferee shall be extended by one year for each successive\ntransfer, in order, from the original taxpayer to the transferee\ninvolved, but not by more than three years in the aggregate. The term\ntransferee includes donee, heir, legatee, devisee and distributee.\n (b) Exceptions.--\n (1) If before the expiration of the period of limitations for\nassessment of liability of the transferee, a claim has been filed by the\ntax commission in any court against the original taxpayer or the last\npreceding transferee based upon the liability of the original taxpayer,\nthen the period of limitation for assessment of liability of the\ntransferee shall in no event expire prior to one year after such claim\nhas been finally allowed, disallowed or otherwise disposed of.\n (2) If, before the expiration of the time prescribed in subsection (a)\nor the immediately preceding paragraph of this subsection for the\nassessment of the liability, the tax commission and the transferee have\nboth 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 of 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 subsection (b) of section\nsix hundred eighty-seven. If the agreement is executed after the\nexpiration of the period of limitation for assessment against the\noriginal taxpayer, then in applying the limitations under subsection (b)\nof section six hundred eighty-seven on the amount of the credit or\nrefund, the periods specified in subsection (a) of section six hundred\neighty-seven shall be increased by the period from the date of such\nexpiration to the date of the agreement.\n (c) Deceased transferor.--If any person is deceased, the period of\nlimitation for assessment against him shall be the period that would be\nin effect if he had lived.\n (d) Evidence.--Notwithstanding the provisions of subsection (e) of\nsection six hundred ninety-seven the tax commission shall use its powers\nto make available to the transferee evidence necessary to enable the\ntransferee to determine the liability of the original taxpayer and of\nany preceding transferees, but without undue hardship to the original\ntaxpayer or preceding transferee. See subsection (e) of section six\nhundred eighty-nine for rule as to burden of proof.\n (e) Notwithstanding the provisions of paragraph one of subsection (e)\nof section six hundred ninety-seven of this part, the commissioner may\nfurnish information relating to real property transfers obtained or\nderived from returns filed pursuant to this article in relation to the\nreal estate transfer tax, to the extent that such information is also\nrequired to be reported to the commissioner by section three hundred\nthirty-three of the real property law and section five hundred\nseventy-four of the real property tax law and the rules adopted\nthereunder, provided such information was collected through a combined\nprocess established pursuant to an agreement entered into with the\ncommissioner pursuant to paragraph viii of subdivision one-e of section\nthree hundred thirty-three of the real property law. The commissioner\nmay redisclose such information to the extent authorized by section five\nhundred seventy-four of the real property tax law.\n