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SECTION 213-B
Payments on account of estimated tax
Tax (TAX) CHAPTER 60, ARTICLE 9-A
§ 213-b. Payments on account of estimated tax.-- (a) First
installments for certain taxpayers.--In privilege periods of twelve
months ending at any time during the calendar year nineteen hundred
seventy and thereafter, every taxpayer subject to the tax imposed by
section two hundred nine of this chapter must pay with the report
required to be filed for the preceding privilege period, or with an
application for extension of the time for filing the report, for taxable
years beginning before January first, two thousand sixteen, and must pay
on or before the fifteenth day of the third month of such privilege
periods, for taxable years beginning on or after January first, two
thousand sixteen, an amount equal to (i) twenty-five percent of the
second preceding year's tax if the second preceding year's tax exceeded
one thousand dollars but was equal to or less than one hundred thousand
dollars, or (ii) forty percent of the second preceding year's tax if the
second preceding year's tax exceeded one hundred thousand dollars. If
the second preceding year's tax under section two hundred nine of this
chapter exceeded one thousand dollars and the taxpayer is subject to the
tax surcharge imposed by section two hundred nine-B of this chapter, the
taxpayer must also pay with the tax surcharge report required to be
filed for the second preceding privilege period, or with an application
for extension of the time for filing the report, for taxable years
beginning before January first, two thousand sixteen, and must pay on or
before the fifteenth day of the third month of such privilege periods,
for taxable years beginning on or after January first, two thousand
sixteen, an amount equal to (i) twenty-five percent of the tax surcharge
imposed for the second preceding year if the second preceding year's tax
was equal to or less than one hundred thousand dollars, or (ii) forty
percent of the tax surcharge imposed for the second preceding year if
the second preceding year's tax exceeded one hundred thousand dollars.
Provided, however, that every taxpayer that is a New York S corporation
must pay with the report required to be filed for the preceding
privilege period, or with an application for extension of the time for
filing the report, an amount equal to (i) twenty-five percent of the
preceding year's tax if the preceding year's tax exceeded one thousand
dollars but was equal to or less than one hundred thousand dollars, or
(ii) forty percent of the preceding year's tax if the preceding year's
tax exceeded one hundred thousand dollars.

(b) Other installments.--In privilege periods of twelve months ending
at any time during the calendar year nineteen hundred seventy and
thereafter, the estimated tax or estimated tax surcharge, with respect
to which a declaration for such privilege period is required shall be
paid, in the case of a taxpayer which reports on the basis of a calendar
year, as follows:

(1) If the declaration is filed on or before June fifteenth, the
estimated tax or estimated tax surcharge shown thereon, after applying
thereto the amount, if any, paid during the same privilege period
pursuant to subdivision (a), shall be paid in three equal installments.
One of such installments shall be paid at the time of the filing of the
declaration, one shall be paid on the following September fifteenth, and
one on the following December fifteenth.

(2) If the declaration is filed after June fifteenth and not after
September fifteenth of such privilege period, and is not required to be
filed on or before June fifteenth of such period, the estimated tax or
estimated tax surcharge shown on such declaration, after applying
thereto the amount, if any, paid during the same privilege period
pursuant to subdivision (a), shall be paid in two equal installments.
One of such installments shall be paid at the time of the filing of the
declaration and one shall be paid on the following December fifteenth.

(3) If the declaration is filed after September fifteenth of such
privilege period, and is not required to be filed on or before September
fifteenth of such privilege period, the estimated tax or estimated tax
surcharge shown on such declaration, after applying thereto the amount,
if any, paid in respect of such privilege period pursuant to subdivision
(a), shall be paid in full at the time of the filing of the declaration.

(4) If the declaration is filed after the time prescribed therefor, or
after the expiration of any extension of time therefor, paragraphs (2)
and (3) of this subdivision shall not apply, and there shall be paid at
the time of such filing all installments of estimated tax or estimated
tax surcharge payable at or before such time, and the remaining
installments shall be paid at the times at which, and in the amounts in
which, they would have been payable if the declaration had been filed
when due.

(c) Amendments of declaration.--If any amendment of a declaration is
filed, the remaining installments, if any, shall be ratably increased or
decreased (as the case may be) to reflect any increase or decrease in
the estimated tax or estimated tax surcharge by reason of such
amendment, and if any amendment is made after September fifteenth of the
privilege period, any increase in the estimated tax or estimated tax
surcharge by reason thereof shall be paid at the time of making such
amendment.

(d) Application of installments based on the second preceding year's
tax.--(1) Any amount paid pursuant to subdivision (a) shall be applied
after payment as a first installment against the estimated tax or
estimated tax surcharge, respectively, of the taxpayer for the current
privilege period shown on the declaration required to be filed pursuant
to section two hundred thirteen-a of this chapter or, if no declaration
of estimated tax or a declaration of estimated tax surcharge is required
to be filed by the taxpayer pursuant to such section, any such amount
shall be considered a payment on account of the tax or tax surcharge
shown on the report required to be filed by the taxpayer for such
privilege period.

(2) Any amount paid pursuant to paragraph four of subsection (c) of
section six hundred fifty-eight of this chapter on behalf of a taxpayer
subject to tax under this article shall be applied against the estimated
tax of the taxpayer for the taxable year shown on the declaration
required to be filed pursuant to section two hundred thirteen-a of this
article, or if no declaration is filed pursuant to such section, any
such amount shall be considered a payment on account of the tax on the
return required to be filed by the taxpayer for such taxable year.

(e) Interest on certain installments based on the second preceding
year's tax.--Notwithstanding the provisions of section one thousand
eighty-eight of this chapter or of section sixteen of the state finance
law, if an amount paid pursuant to subdivision (a) exceeds the tax or
tax surcharge, respectively, shown on the report required to be filed by
the taxpayer for the privilege period during which the amount was paid,
interest shall be allowed and paid on the amount by which the amount so
paid pursuant to such subdivision exceeds such tax or tax surcharge. In
the case of amounts so paid pursuant to subdivision (a), such interest
shall be allowed and paid at the overpayment rate set by the
commissioner of taxation and finance pursuant to section one thousand
ninety-six of this chapter, or if no rate is set, at the rate of six per
centum per annum from the date of payment of the amount so paid pursuant
to such subdivision to the fifteenth day of the fourth month following
the close of the taxable year, provided, however, that no interest shall
be allowed or paid under this subdivision if the amount thereof is less
than one dollar or if such interest becomes payable solely because of a
carryback of a net operating loss in a subsequent privilege period.

(f) The preceding year's tax and the second preceding year's tax
defined.-- As used in this section, "the preceding year's tax" means the
tax imposed upon the taxpayer by section two hundred nine of this
article for the preceding calendar or fiscal year, or, for purposes of
computing the first installment of estimated tax when an application has
been filed for extension of the time for filing the report required to
be filed for such preceding calendar or fiscal year, the amount properly
estimated pursuant to section two hundred thirteen of this article as
the tax imposed upon the taxpayer for such calendar or fiscal year. As
used in this section, "the second preceding year's tax" means the tax
imposed upon the taxpayer by section two hundred nine of this article
for the second preceding calendar or fiscal year.

(g) Application to short privilege period.--This section shall apply
to a privilege period of less than twelve months in accordance with
regulations of the tax commission.

(h) Fiscal year.--The provisions of this section shall apply to
privilege periods of twelve months other than a calendar year by the
substitution of the months of such fiscal year for the corresponding
months specified in such provisions.

(i) Extension of time.--The commissioner of taxation and finance may
grant a reasonable extension of time, not to exceed six months, for
payment of any installment of estimated tax or estimated tax surcharge
required pursuant to this section, on such terms and conditions as he
may require, including the furnishing of a bond or other security by the
taxpayer in an amount not exceeding twice the amount for which any
extension of time for payment is granted, provided however that interest
at the underpayment rate set by the commissioner pursuant to section one
thousand ninety-six of this chapter, or if no rate is set, at the rate
of six per centum per annum for the period of the extension shall be
charged and collected on the amount for which any extension of time for
payment is granted under this subdivision.

(j) Payment of installments in advance.--A taxpayer may elect to pay
any installment of estimated tax or estimated tax surcharge prior to the
date prescribed in this section for payment thereof.