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This entry was published on 2014-09-22
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SECTION 294
Returns and payment of tax
Tax (TAX) CHAPTER 60, ARTICLE 13
§ 294. Returns and payment of tax. (a) Every taxpayer and every other
organization or trust, other than an employee's trust described in
section four hundred one (a) of the internal revenue code of nineteen
hundred fifty-four, which is subject to the federal tax on unrelated
business income having an officer, agent, trustee or representative
within the state shall, on or before the fifteenth day of the fifth
month following the close of each of its taxable years, make and file a
return with the tax commission setting forth such information as the tax
commission may prescribe. Every employee's trust described in section
four hundred one (a) of such code shall make and file a return with the
tax commission on or before the fifteenth day of the fourth month
following the close of the trust's taxable year. Every taxpayer which
ceases to be subject to the tax imposed by this article shall make and
file a return with the tax commission on the date of such cessation, or
at such other time which the tax commission may require, covering each
taxable year or period for which no return was theretofore filed,
setting forth such information as the tax commission may require. Every
taxpayer shall also file such other returns and furnish such other facts
and information as the tax commission may require in the administration
of this article.

(b) (1) An automatic extension of six months for the filing of its
annual return shall be allowed any taxpayer, if, within the time
prescribed by the preceding paragraph, such taxpayer files with the tax
commission an application for extension, in such form as said tax
commission may prescribe by regulation, and pays, on or before the date
of such filing, the amount properly estimated as its tax, as provided in
paragraph two of this subdivision.

(2) If a taxpayer, within the time prescribed by subdivision (a) of
this section, shall have applied for an automatic extension of time to
file its annual return and shall have paid to the commissioner of
taxation and finance on or before the date such application is filed an
amount properly estimated as hereinafter provided in this subdivision,
the only amount payable in addition to the tax shall be 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 cent per year, upon the amount by which the tax, or the
portion thereof payable on or before the date the return was required to
be filed (determined without regard to any extension of time for filing
such return), exceeds the amount so paid. For purposes of this
subdivision an amount so paid shall be deemed properly estimated if it
is either not less than ninety per cent of the tax as finally
determined, or not less than the tax shown on the taxpayer's return for
the preceding taxable year, if such preceding year was a taxable year of
twelve months.

(c) The tax imposed by section two hundred ninety shall be payable to
the tax commission in full at the time the return is required to be
filed. Such tax imposed on any taxpayer which ceases to be subject to
the tax imposed by this article shall be payable to the tax commission
at the time the return is required to be filed and all other taxes of
any such taxpayer, which pursuant to the provisions of this section
would otherwise be payable subsequent to the time such return is
required to be filed, shall nevertheless be payable at such time.

(d) The tax commission may grant a reasonable extension of time for
filing a return or for payment of a tax imposed by this article under
such conditions as it deems just and proper.