N.Y. Tax Law Section 187-O
Temporary deferral nonrefundable payout credit

1.

Allowance of credit. A taxpayer shall be allowed a credit, to be computed as provided in subdivision one of § 34 (Tax return preparers and software companies not to charge separately for New York e-file services)section thirty-four of this chapter, against either the taxes imposed by sections one hundred eighty-three and one hundred eighty-four, or the tax imposed by § 186-A (Tax on the furnishing of utility services)section one hundred eighty-six-a of this article. However, the amount of such credit against the tax imposed by § 184 (Additional franchise tax on transportation and transmission corporations and associations)section one hundred eighty-four of this article shall be the excess of the amount of that credit over the amount of any credit allowed by this section against the tax imposed by section one hundred eighty-three of this article.

2.

Application of credit. In no event shall the credit under this section be allowed in an amount which will reduce the tax to less than the applicable minimum tax fixed by section one hundred eighty-three of this article. If, however, the amount of credit allowed under this section for any taxable year reduces the tax to such amount, any amount of credit not deductible in such taxable year may be carried over to the following year or years and may be deducted from the taxpayer’s tax for such year or years.

Source: Section 187-O — Temporary deferral nonrefundable payout credit, https://www.­nysenate.­gov/legislation/laws/TAX/187-O (updated Jan. 5, 2018; accessed Nov. 1, 2025).

182
Additional franchise tax on certain oil companies 182–A
Franchise tax on certain oil companies 183
Franchise tax on transportation and transmission corporations and associations 183–A
Metropolitan transportation business tax surcharge on transportation and transmission corporations and associations 184
Additional franchise tax on transportation and transmission corporations and associations 184–A
Additional metropolitan transportation business tax surcharge on transportation and transmission corporations and associations services 186–A
Tax on the furnishing of utility services 186–C
Metropolitan transportation business tax surcharge on utility services and excise tax on sale of telecommunication services 186–D
Transportation business tax on utility services in Erie county 186–E
Excise tax on telecommunication services 186–F
Public safety communications surcharge 186–G
Wireless communications surcharge authorized 187
Credit for special additional mortgage recording tax 187–A
Credit for employment of persons with disabilities 187–B
Alternative fuels and electric vehicle recharging property credit 187–C
Biofuel production credit 187–D
Green building credit 187–E
Credit for transportation improvement contributions 187–F
Order of credits 187–G
Brownfield redevelopment tax credit 187–H
Remediated brownfield credit for real property taxes for qualified sites 187–I
Environmental remediation insurance credit 187–N
Security training tax credit 187–N*2
Fuel cell electric generating equipment expenditures credit 187–O
Temporary deferral nonrefundable payout credit 187–P
Temporary deferral refundable payout credit 187–Q
Utility COVID-19 debt relief credit 187–R
Commercial security tax credit 188
Tax surcharge 189–B
Tax surcharge 190
Long-term care insurance credit 191
Receivers, etc 192
Reports of corporations 193
Extension of time for filing report 194
Further requirements as to reports of corporations 197
Payment of tax and penalties 197–A
Declaration of estimated tax 197–B
Payments of estimated tax 197–C
Applicability of section one hundred eighty-two-a 197–D
The provisions of article twenty-seven of this chapter which pertain to declarations and payments of estimated taxes shall be applicable ... 202
Secrecy required of officials 203
Collection of taxes 203–A
Dissolution of delinquent business corporations 203–B
Annulment of authority to do business by foreign corporations 204
Reports to be made by the secretary of state 205
Deposit of moneys collected from taxes imposed by sections one hundred eighty-three and one hundred eighty-four of this chapter 206
Deposit and disposition of revenue 207
Limitation of time 207–A
Exemption of corporations owned by a municipality 207–B
Practice and procedure for taxable years ending on or after December thirty-first, nineteen hundred sixty-four
Green check means up to date. Up to date

Verified:
Nov. 1, 2025

Last modified:
Jan. 5, 2018

§ 187-O. Temporary deferral nonrefundable payout credit's source at nysenate​.gov

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