Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Sep 23, 2011 |
signed chap.521 |
Sep 12, 2011 |
delivered to governor |
Jun 15, 2011 |
returned to assembly passed senate 3rd reading cal.961 substituted for s3944 |
Jun 06, 2011 |
referred to finance delivered to senate passed assembly ordered to third reading rules cal.66 rules report cal.66 reported |
Jun 01, 2011 |
reported referred to rules |
Apr 19, 2011 |
referred to ways and means |
Assembly Bill A7239
Signed By Governor2011-2012 Legislative Session
Sponsored By
FARRELL
Archive: Last Bill Status - Signed by Governor
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
Votes
2011-A7239 (ACTIVE) - Details
- See Senate Version of this Bill:
- S3944
- Law Section:
- Tax Law
- Laws Affected:
- Amd §§686, 687, 1086 & 1087, Tax L; amd §§11-1786 & 11-1787, NYC Ad Cd
2011-A7239 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7239 2011-2012 Regular Sessions I N A S S E M B L Y April 19, 2011 ___________ Introduced by M. of A. FARRELL -- (at request of the Department of Taxa- tion and Finance) -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law and the administrative code of the city of New York, in relation to reversing the crediting of a personal income tax or corporate franchise tax overpayment against estimated tax for the succeeding taxable year in certain circumstances THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subsection (e) of section 686 of the tax law, as amended by chapter 65 of the laws of 1985, is amended to read as follows: (e) Credits against estimated tax.--The [tax commission] COMMISSIONER may prescribe regulations providing for the crediting against the esti- mated income tax for any taxable year of the amount determined to be an overpayment of the income tax for a preceding taxable year. If any over- payment of income tax is so claimed as a credit against estimated tax for the succeeding taxable year, such amount shall be considered as a payment of the income tax for the succeeding taxable year, and no claim for credit or refund of such overpayment shall be allowed for the taxa- ble year for which the overpayment arises, EXCEPT UPON REQUEST TO THE COMMISSIONER ON OR BEFORE THE LAST DAY PRESCRIBED FOR THE FILING OF THE RETURN FOR THE SUCCEEDING TAXABLE YEAR, DETERMINED WITH REGARD TO ANY EXTENSION OF TIME GRANTED. IF GOOD CAUSE IS SHOWN FOR REVERSING THE CREDIT, THE COMMISSIONER MAY, IN HIS OR HER DISCRETION, CREDIT THE OVER- PAYMENT AGAINST A LIABILITY OR REFUND THE OVERPAYMENT WITHOUT INTEREST. PROVIDED, THE PERSON WHO MADE THE OVERPAYMENT WILL NOT BE RELIEVED OF LIABILITY FOR ANY PENALTY IMPOSED FOR A CONSEQUENT UNDERPAYMENT OF ESTI- MATED TAX FOR THE SUCCEEDING TAXABLE YEAR. THE DECISION OF THE COMMIS- SIONER TO GRANT OR DENY THE REQUEST IS FINAL AND NOT SUBJECT TO FURTHER ADMINISTRATIVE OR JUDICIAL REVIEW. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD09459-01-1
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