N.Y.
Tax Law Section 211
Reports
1.
Every taxpayer shall annually on or before March fifteenth, for taxable years beginning before January first, two thousand sixteen, and annually on or before April fifteenth, for taxable years beginning on or after January first, two thousand sixteen, transmit to the commissioner a report in a form prescribed by the commissioner (except that a corporation which reports on the basis of a fiscal year shall transmit its report within two and one-half months after the close of its fiscal year, for taxable years beginning before January first, two thousand sixteen, and on or before the fifteenth day of the fourth month after the close of its fiscal year, for taxable years beginning on or after January first, two thousand sixteen, and except, also, that a corporation which is a DISC shall transmit its report on or before the fifteenth day of the ninth month following the close of its calendar or fiscal year), setting forth such information as the commissioner may prescribe and every taxpayer which ceases to exercise its franchise or to be subject to the tax imposed by this article shall transmit to the commissioner a report on the date of such cessation or at such other time as the commissioner may require covering each year or period for which no report was theretofore filed. In the case of a termination year of an S corporation, the S short year and the C short year shall be treated as separate short taxable years, provided, however, the due date of the report for the S short year shall be the same as the due date of the report for the C short year. Every taxpayer shall also transmit such other reports and such facts and information as the commissioner may require in the administration of this article. The commissioner may grant a reasonable extension of time for filing reports whenever good cause exists. An automatic extension of six months for the filing of its annual report shall be allowed any taxpayer if, within the time prescribed by the preceding paragraph, such taxpayer files with the commissioner an application for extension in such form as the commissioner may prescribe by regulation and pays on or before the date of such filing the amount properly estimated as its tax.2.
Every report shall have annexed thereto a certification by the president, vice-president, treasurer, assistant treasurer, chief accounting officer or any other officer of the taxpayer duly authorized so to act to the effect that the statements contained therein are true. In the case of an association, within the meaning of paragraph three of section (a) of section seventy-seven hundred one of the internal revenue code, a publicly traded partnership treated as a corporation for purposes of the internal revenue code pursuant to section seventy-seven hundred four thereof and any business conducted by a trustee or trustees wherein interest or ownership is evidenced by certificates or other written instruments such certification shall be made by any person duly authorized so to act on behalf of such association, publicly traded partnership or business. The fact that an individual’s name is signed on a certification of the report shall be prima facie evidence that such individual is authorized to sign and certify the report on behalf of the corporation. Blank forms of reports shall be furnished by the commissioner of taxation and finance, on application, but failure to secure such a blank shall not release any corporation from the obligation of making any report required by this article. 2-a. The commissioner may prescribe regulations and instructions requiring returns of information to be made and filed in conjunction with the reports required to be filed pursuant to this article, relating to payments made to shareholders owning, directly or indirectly, individually or in the aggregate, more than fifty percent of the issued capital stock of the taxpayer, where such payments are treated as payments of interest in the computation of entire net income reported on such reports.3.
If the amount of taxable income for any year of any taxpayer (including any taxpayer which has elected to be taxed under subchapter s of chapter one of the internal revenue code), as returned to the United States treasury department is changed or corrected by the commissioner of internal revenue or other officer of the United States or other competent authority, or where a renegotiation of a contract or subcontract with the United States results in a change in taxable income, such taxpayer shall report such changed or corrected taxable income, or the results of such renegotiation, within ninety days (or one hundred twenty days, in the case of a taxpayer making a combined report under this article for such year) after the final determination of such change or correction or renegotiation, or as required by the commissioner, and shall concede the accuracy of such determination or state wherein it is erroneous. The allowance of a tentative carryback adjustment based upon a net operating loss carryback or net capital loss carryback pursuant to section sixty-four hundred eleven of the internal revenue code, as amended, shall be treated as a final determination for purposes of this subdivision. Any taxpayer filing an amended return with such department shall also file within ninety days (or one hundred twenty days, in the case of a taxpayer making a combined report under this article for such year) thereafter an amended report with the commissioner.4.
For provisions relating to combined reports, see § 210-C (Combined reports)section two hundred ten-C of this article.5.
In case it shall appear to the commissioner that any agreement, understanding or arrangement exists between the taxpayer and any other corporation or any person or firm, whereby the activity, business, income or capital of the taxpayer within the state is improperly or inaccurately reflected, the commissioner is authorized and empowered, in the commissioner’s discretion and in such manner as the commissioner may determine, to adjust items of income, deductions and capital, and to eliminate assets in computing any apportionment percentage provided only that any income directly traceable thereto be also excluded from entire net income, so as equitably to determine the tax. Where (a) any taxpayer conducts its activity or business under any agreement, arrangement or understanding in such manner as either directly or indirectly to benefit its members or stockholders, or any of them, or any person or persons directly or indirectly interested in such activity or business, by entering into any transaction at more or less than a fair price which, but for such agreement, arrangement or understanding, might have been paid or received therefor, or(b)
any taxpayer, a substantial portion of whose capital stock is owned either directly or indirectly by another corporation, enters into any transaction with such other corporation on such terms as to create an improper loss or net income, the commissioner may include in the entire net income of the taxpayer the fair profits which, but for such agreement, arrangement or understanding, the taxpayer might have derived from such transaction. Where any taxpayer owns, directly or indirectly, more than fifty percent of the capital stock of another corporation subject to tax under § 1502-A (Tax on non-life insurance corporations)section fifteen hundred two-a of this chapter and fifty percent or less of whose gross receipts for the taxable year consist of premiums, the commissioner may include in the entire net income of the taxpayer, as a deemed distribution, the amount of the net income of the other corporation that is in excess of its net premium income.6.
An action may be brought at any time by the attorney-general at the instance of the tax commission, in the name of the state, to compel the filing of reports due under this article.7.
Reports shall be preserved for five years, and thereafter until the tax commission orders them to be destroyed.8.
(a) Except in accordance with proper judicial order or as otherwise provided by law, it shall be unlawful for any tax commissioner, any officer or employee of the department, or any person who, pursuant to this section, is permitted to inspect any report, or to whom any information contained in any report is furnished, or any person engaged or retained by such department on an independent contract basis, or any person who in any manner may acquire knowledge of the contents of a report filed pursuant to this article, to divulge or make known in any manner the amount of income or any particulars set forth or disclosed in any report under this article. The officers charged with the custody of such reports shall not be required to produce any of them or evidence of anything contained in them in any action or proceeding in any court, except on behalf of the state or the commissioner in an action or proceeding under the provisions of this chapter or in any other action or proceeding involving the collection of a tax due under this chapter to which the state or the commissioner is a party or a claimant, or on behalf of any party to any action or proceeding under the provisions of this article when the reports or facts shown thereby are directly involved in such action or proceeding, in any of which events the court may require the production of, and may admit in evidence, so much of said reports or of the facts shown thereby as are pertinent to the action or proceeding, and no more. The commissioner may, nevertheless, publish a copy or a summary of any determination or decision rendered after the formal hearing provided for in § 1089 (Petition to tax commission)section one thousand eighty-nine of this chapter. Nothing herein shall be construed to prohibit the delivery to a corporation or its duly authorized representative of a copy of any report filed by it, nor to prohibit the publication of statistics so classified as to prevent the identification of particular reports and the items thereof; or the publication of delinquent lists showing the names of taxpayers who have failed to pay their taxes at the time and in the manner provided by § 213 (Payment and lien of tax)section two hundred thirteen of this chapter together with any relevant information which in the opinion of the commissioner may assist in the collection of such delinquent taxes; or the inspection by the attorney general or other legal representatives of the state of the report of any corporation which shall bring action to set aside or review the tax based thereon, or against which an action or proceeding under this chapter has been recommended by the commissioner of taxation and finance or the attorney general or has been instituted; or the inspection of the reports of any corporation by the comptroller or duly designated officer or employee of the state department of audit and control, for purposes of the audit of a refund of any tax paid by such corporation under this article.(b)
(i) Any officer or employee of the state who willfully violates the provisions of paragraph (a) of this subdivision shall be dismissed from office and be incapable of holding any public office in this state for a period of five years thereafter.(ii)
Cross-reference: For criminal penalties, see article 37 (Crimes and Other Offenses, Seizures and Forfeitures)article thirty-seven of this chapter.(c)
Notwithstanding any provisions of this subdivision, the tax commission may permit the secretary of the treasury of the United States or his delegates, or the proper officer of any other state charged with tax administration, or the authorized representative of either such officer, to inspect the reports filed under this article, or may furnish to such officer or his authorized representative an abstract of any such report or supply information concerning an item contained in any such report, or disclosed by an investigation of tax liability under this article, but such permission shall be granted or such information furnished to such officer or his representative only if the laws of the United States or of such other state, as the case may be, grant substantially similar privileges to the commission or officer of this state charged with the administration of the tax imposed by this article and such information is to be used for tax purposes only; and provided further the commissioner of taxation and finance may furnish to the secretary of the treasury of the United States or his delegates such reports filed under this article and other tax information, as he may consider proper, for use in court actions or proceedings under the internal revenue code, whether civil or criminal, where a written request therefor has been made to the commissioner of taxation and finance by the secretary of the treasury or his delegates provided the laws of the United States grant substantially similar powers to the secretary of the treasury or his delegates. Where the commissioner of taxation and finance has so authorized use of reports or other tax information in such actions or proceedings, officers and employees of the department of taxation and finance may testify in such actions or proceedings in respect to such reports or other tax information; and provided further that such commission may furnish any municipality with such information contained in the reports filed under this article as it may consider proper for use in any certiorari or condemnation proceeding.9.
Notwithstanding the provisions of subdivision eight of this section, the tax commission may permit the officer charged with the administration of an income tax imposed by any city of the state of New York, or the authorized representative of such officer, to inspect the reports filed under this article, or may furnish to such officer or his authorized representative an abstract of any such report or supply information concerning an item contained in any such report, or disclosed by any investigation of tax liability under this article, but such permission shall be granted or such information furnished to such officer or his representative only if the local laws of such city grant substantially similar privileges to the commission or officer of this state charged with the administration of the tax imposed by this article and such information is to be used for tax purposes only; and provided further the commissioner of taxation and finance may furnish to such city officer or his delegates and the legal representative of such city such reports filed under this article and other tax information, as he may consider proper, for use in court actions or proceedings under such local law, whether civil or criminal, where a written request therefor has been made to the commissioner of taxation and finance by such city officer or his delegates or by such legal representative of such city, provided the local law of such city grants substantially similar powers to the city officer charged with the administration of the city income tax or his delegates. Where the commissioner of taxation and finance has so authorized use of reports or other tax information in such actions or proceedings, officers and employees of the department of taxation and finance may testify in such actions or proceedings in respect to such reports or other tax information.10.
Notwithstanding the provisions of subdivision eight of this section, the tax commission, in its discretion, may require or permit any or all persons liable for any tax imposed by this article, to make payments on account of estimated tax and payment of any tax, penalty or interest imposed by this article to banks, banking houses or trust companies designated by the tax commission and to file declarations of estimated tax, applications for automatic extensions of time to file reports, and reports with such banks, banking houses or trust companies as agents of the tax commission, in lieu of making any such payment directly to the tax commission. However, the tax commission shall designate only such banks, banking houses or trust companies as are or shall be designated by the comptroller as depositories pursuant to section two hundred eighteen.11.
Notwithstanding the provisions of subdivision eight of this section, the commissioner may disclose to the head of any state agency, pursuant to § 171-F (Certain overpayments credited against outstanding debts owed to a state agency)section one hundred seventy-one-f of this chapter, the name and taxpayer identification number of any taxpayer whose overpayment is certified to the comptroller to be credited against a past-due legally enforceable debt owed to such agency and the amount of the overpayment and interest thereon certified to the comptroller to be credited against a past-due legally enforceable debt, and the commissioner may disclose to the commissioner of finance of the city of New York, pursuant to § 171-L (Certain overpayments credited against outstanding tax debt owed to the city of New York)section one hundred seventy-one-l of this chapter, the name and taxpayer identification number of any taxpayer whose overpayment is certified to the comptroller to be credited against a city of New York tax warrant judgment debt and the amount of the overpayment and interest thereon certified to the comptroller to be credited against a city of New York tax warrant judgment debt.12.
(a) Notwithstanding the provisions of subdivision eight of this section, the commissioner and the comptroller shall enter into an agreement pursuant to which the commissioner shall, upon request, provide the comptroller with a report, not more frequently than annually, with respect to corporations or other entities which have filed a business corporation franchise tax report under this article for any taxable year within ten calendar years prior to the report to the comptroller made pursuant to this subdivision, providing the following information, to the extent that such information is readily available from the department’s system for identifying taxpayer indicative data: (1) business name and legal name, if different; (2) business address and mailing address; (3) federal employer identification number; (4) date entered into business.(b)
Each report to the comptroller made pursuant to this subdivision shall list each corporation or other entity with respect to which such report is made according to the total assets reported for the end of the year on its most recent available business corporation franchise tax report, in descending order. Such reports to the comptroller shall not disclose the actual amount of total assets reported on such business corporation franchise tax reports.(c)
The information provided to the comptroller pursuant to this subdivision shall be used only for administration and enforcement of the abandoned property law. The comptroller may redisclose the information provided under this subdivision only to the extent necessary for enforcement or administration of the abandoned property law.(d)
The reports to the comptroller required under this subdivision shall be submitted by electronic means or in some other format which is mutually acceptable to the comptroller and the commissioner. The written agreement with the comptroller shall set forth the procedures for providing the information the commissioner is allowed to disclose pursuant to this subdivision.(e)
Notwithstanding article six of the public officers law or any other provision of law, the reports to be furnished to the comptroller pursuant to this subdivision shall not be open to the public for inspection.14.
Notwithstanding the provisions of subdivision eight of this section, the commissioner may disclose to a taxpayer or a taxpayer’s related member, as defined in paragraph (o) of subdivision nine of § 208 (Definitions)section two hundred eight of this article, information relating to any royalty payments paid, incurred or received by such taxpayer or related member to or from the other, including the treatment of such payments by the taxpayer or the related member in any report or return transmitted to the commissioner under this chapter.15.
Notwithstanding the provisions of subdivision eight of this section, the commissioner shall provide the statements and other required information requested on tax reports under Business Corporation Law § 408 (Statement)section four hundred eight of the business corporation law to the secretary of state for filing. Such provision may also include a copy or image of that portion of the report solely pertinent to such information to the extent feasible. The commissioner any also provide information on noncompliance.16.
(a) Notwithstanding the provisions of subdivision eight of this section, upon written request from the chairperson of the committee on ways and means of the United States House of Representatives, the chairperson of the committee on finance of the United States Senate, or the chairperson of the joint committee on taxation of the United States Congress, the commissioner shall furnish such committee with any current or prior year reports specified in such request that were filed under this article by the president of the United States, vice-president of the United States, member of the United States Congress representing New York state, or any person who served in or was employed by the executive branch of the government of the United States on the executive staff of the president, in the executive office of the president, or in an acting or confirmed capacity in a position subject to confirmation by the United States senate; or, in New York state: a statewide elected official, as defined in paragraph (a) of subdivision one of Public Officers Law § 73-A (Financial disclosure)section seventy-three-a of the public officers law; a state officer or employee, as defined in subparagraph (i) of paragraph (c) of subdivision one of such section seventy-three-a; a political party chairperson, as defined in paragraph (h) of subdivision one of such section seventy-three-a; a local elected official, as defined in subdivisions one and two of General Municipal Law § 810 (Additional definitions)section eight hundred ten of the general municipal law; a person appointed, pursuant to law, to serve due to vacancy or otherwise in the position of a local elected official, as defined in subdivisions one and two of General Municipal Law § 810 (Additional definitions)section eight hundred ten of the general municipal law; a member of the state legislature; or a judge or justice of the unified court system, or filed by a partnership, firm, association, corporation, joint-stock company, trust or similar entity directly or indirectly controlled by any individual listed in this paragraph, whether by contract, through ownership or control of a majority interest in such entity, or otherwise, or filed by a partnership, firm, association, corporation, joint-stock company, trust or similar entity of which any individual listed in this paragraph holds ten percent or more of the voting securities of such entity; provided however that, prior to furnishing any report, the commissioner shall redact any copy of a federal return (or portion thereof) attached to, or any information on a federal return that is reflected on, such report, and any social security numbers, account numbers and residential address information.(b)
No reports shall be furnished pursuant to this subdivision unless the chairperson of the requesting committee certifies in writing that such reports have been requested related to, and in furtherance of, a legitimate task of the Congress, that the requesting committee has made a written request to the United States secretary of the treasury for related federal reports or report information, pursuant to 26 U.S.C. Section 6103(f), and that if such requested reports are inspected by and/or submitted to another committee, to the United States House of Representatives, or to the United States Senate, then such inspection and/or submission shall occur in a manner consistent with federal law as informed by the requirements and procedures established in 26 U.S.C. Section 6103(f).
Source:
Section 211 — Reports, https://www.nysenate.gov/legislation/laws/TAX/211 (updated Jan. 31, 2020; accessed Oct. 26, 2024).
