N.Y.
Tax Law Section 290-A
Tax surcharge
1.
In addition to the tax imposed under § 290 (Imposition of tax)section two hundred ninety of this article, there is hereby imposed, for taxable years ending after June thirtieth, nineteen hundred ninety and before July first, nineteen hundred ninety-seven, a tax surcharge at the rate of fifteen percent in the case of taxable years ending after June thirtieth, nineteen hundred ninety and before July first, nineteen hundred ninety-four, and until such rate is superseded; at the rate of ten percent in the case of taxable years ending after June thirtieth, nineteen hundred ninety-four and before July first, nineteen hundred ninety-five, and until such rate is superseded; at the rate of five percent in the case of taxable years ending after June thirtieth, nineteen hundred ninety-five and before July first, nineteen hundred ninety-six, and until such rate is superseded; and at the rate of zero percent in the case of taxable years ending after June thirtieth, nineteen hundred ninety-six and before July first, nineteen hundred ninety-seven, of the tax imposed under § 290 (Imposition of tax)section two hundred ninety of this article. However, the tax surcharge imposed by this section at the rate of fifteen percent shall not be imposed upon any taxpayer for more than forty-eight months, and the tax surcharge imposed by this section at the rates of ten percent, five percent and zero percent shall not, respectively, be imposed upon any taxpayer for more than twelve months, and the commissioner shall prescribe by regulation or instructions a method of proration designed to effectuate such result. 1-a. Insofar as subdivision one of this section establishes a rate of fifteen percent in the case of taxable years ending after June thirtieth, nineteen hundred ninety and before July first, nineteen hundred ninety-four and until such rate is superseded, a rate of ten percent in the case of taxable years ending after June thirtieth, nineteen hundred ninety-four and before July first, nineteen hundred ninety-five and until such rate is superseded, a rate of five percent in the case of taxable years ending after June thirtieth, nineteen hundred ninety-five and before July first, nineteen hundred ninety-six and until such rate is superseded, and a rate of zero percent in the case of taxable years ending after June thirtieth, nineteen hundred ninety-six and before July first, nineteen hundred ninety-seven, the transition from such rate of fifteen percent to such rate of ten percent, from such rate of ten percent to such rate of five percent, and from such rate of five percent to such rate of zero percent, shall be deemed to occur, respectively, on the first day of the seventh month of each of such taxable years, with the result that for purposes of implementation of such changes in rates, and notwithstanding such subdivision one, there is hereby imposed with respect to all taxable years ending after June thirtieth, nineteen hundred ninety-four and before July first, nineteen hundred ninety-five, including taxable years of fewer than twelve months, a tax surcharge at the rate of twelve and one-half percent; there is hereby imposed with respect to all taxable years ending after June thirtieth, nineteen hundred ninety-five and before July first, nineteen hundred ninety-six, including taxable years of fewer than twelve months, a tax surcharge at the rate of seven and one-half percent; and there is hereby imposed with respect to all taxable years ending after June thirtieth, nineteen hundred ninety-six and before July first, nineteen hundred ninety-seven, including taxable years of fewer than twelve months, a tax surcharge at the rate of two and one-half percent. In addition, for purposes of implementation of all the provisions of this section references to ten percent shall be read as references to twelve and one-half percent, references to five percent shall be read as references to seven and one-half percent and references to zero percent shall be read as references to two and one-half percent.2.
The provisions concerning returns under § 294 (Returns and payment of tax)section two hundred ninety-four of this article shall be applicable to this section, except that for purposes of an automatic extension for six months for filing a return covering the taxes imposed by this article, such automatic extension shall be allowed, for taxable years to which the tax surcharge imposed by this section applies, only if a taxpayer files with the commissioner an application for extension in such form as the commissioner may prescribe, and pays on or before the date of such filing, in addition to any other amounts required under this article, fifteen percent in the case of taxable years ending after June thirtieth, nineteen hundred ninety and before July first, nineteen hundred ninety-four, ten percent in the case of taxable years ending after June thirtieth, nineteen hundred ninety-four and before July first, nineteen hundred ninety-five, five percent in the case of taxable years ending after June thirtieth, nineteen hundred ninety-five and before July first, nineteen hundred ninety-six, and zero percent in the case of taxable years ending after June thirtieth, nineteen hundred ninety-six and before July first, nineteen hundred ninety-seven, of the amount properly estimated as provided in § 294 (Returns and payment of tax)section two hundred ninety-four of this article as its tax payable under § 290 (Imposition of tax)section two hundred ninety of this article. The tax surcharge imposed by this section shall be payable to the commissioner in full at the time the return is required to be filed.3.
Except as otherwise provided in this section, all of the provisions of this article shall apply to the tax surcharge imposed by this section with such modifications as may be necessary to adapt such language to the tax surcharge imposed by this section. Such provisions shall apply with the same force and effect as if those provisions had been set forth in full in this section except to the extent that any provision is either inconsistent with a provision of this section or not relevant to the tax surcharge imposed by this section, and to that end a reference in this article to the tax surcharge imposed by section two hundred ninety shall be read as a reference to the tax surcharge imposed by this section, and to the sum of such tax and such tax surcharge in the case of those provisions requiring such reading in order to effectuate the purposes of this provision, unless a different meaning is clearly required.
Source:
Section 290-A — Tax surcharge, https://www.nysenate.gov/legislation/laws/TAX/290-A (updated Sep. 22, 2014; accessed Oct. 26, 2024).
