Administration for Parts 1 and 2

NYC Admin. Code tit. 11, ch. 6, subch. 3, pt. 3

in effect

NYC Admin. Code § 11-633 Taxpayer's returns.

§ 11-633 Taxpayer's returns. 1. Every taxpayer, on or before March fifteenth of each year, beginning with the year nineteen hundred sixty-seven and ending with the year nineteen hundred seventy-three, shall make a return subscribed by the taxpayer and affirmed by the taxpayer to be true under the penalties of perjury to the commissioner of finance, for the calendar year next preceding, as to the business or that portion of the business of such taxpayer the income from which is the basis of taxation under part one or two of this subchapter, except that every trust company and savings bank which shall become incorporated between the thirty-first day of December and the succeeding first day of July, shall make its return for such period on or before September first, and every taxpayer, other than a trust company and savings bank, which shall commence to do business in the city or become located in the city, shall make its return for the calendar year in which it commences to do business or becomes located, on or before the twentieth day of January of the year succeeding such calendar year, and except that every taxpayer, other than a trust company and savings bank, which shall be dissolved, cease to do business in the city or cease to be located in the city, between the thirty-first day of December and the succeeding sixteenth day of March and shall not become merged or consolidated with another corporation taxable under the same part, shall make its return for such period on or before the date of such dissolution, or cessation of business, and every trust company and savings bank which shall be dissolved, and shall not become merged or consolidated with another corporation taxable under the same part, shall make its return, for the period for which it is taxable under subdivision six of section 11-612 of this subchapter on or before the date of such dissolution. Such return shall be in such form and contain such information as the commissioner of finance may require for the purpose of making any computation or otherwise performing its duty under parts one, two, and three of this subchapter. Such return shall state specifically the items of gross income derived from such business and the deductions allowed by the part for which the return is filed, the net income which is the basis of the tax, and the amount of tax due. The return shall be subscribed by the president, vice-president, treasurer, assistant treasurer, chief accounting officer or any other officer of the taxpayer duly authorized so to act. The fact that an individual's name is signed on the return shall be prima facie evidence that such individual is authorized to subscribe and affirm the return on behalf of the corporation. Blank forms of return shall be furnished by the commissioner of finance upon application, but failure to secure the form shall not relieve any taxpayer from the obligation of making any return herein required. An automatic extension of three months for the filing of its annual return shall be allowed for any taxpayer if, within the time prescribed herein for the filing thereof, such taxpayer files with the commissioner of finance an application for extension in such form as the commissioner of finance may prescribe by regulation and pays on or before the date of such filing the amount properly estimated as its tax. The commissioner of finance may grant a reasonable extension of time for filing a return, which may be in addition to any automatic extension allowed under the preceding sentence, whenever in the commissioner's judgment good cause exists and shall keep a record of every such extension and the reason therefor. No such extension or extensions shall aggregate more than three months, exclusive of any automatic extension. 2. If the amount of taxable income for any year of any taxpayer as returned to the United States treasury department or the New York state tax department is changed or corrected by the commissioner of internal revenue or other officer of the United States or the New York state tax commission or other competent authority; or if a taxpayer, pursuant to subsection (d) of section sixty-two hundred thirteen of the internal revenue code, executes a notice of waiver of the restrictions provided in subsection (a) of such section, or if a taxpayer, pursuant to subdivision (f) of section one thousand eighty-one of the tax law, executes a notice of waiver of the restrictions provided in subdivision (c) of such section, such taxpayer shall report such change or corrected taxable income or such execution of such notice of waiver and the changes or corrections of such taxpayer's federal or New York state taxable income on which it is based, within ninety days after such execution or the final determination of such change or correction, or as required by the commissioner of finance, and shall concede the accuracy of such determination or state wherein it is erroneous. Any taxpayer filing an amended return with such department shall also file within ninety days thereafter an amended return with the commissioner of finance which shall contain such information as it shall require.

NYC Admin. Code § 11-634 Consolidated returns.

§ 11-634 Consolidated returns. Corporations which are affiliated may, if authorized, and shall, if required, by the commissioner of finance, under regulations prescribed by the commissioner of finance, make a consolidated return for the purpose of parts one, two and three of this subchapter. The commissioner of finance may, in his or her discretion, authorize bank holding companies as defined in article three-a of the banking law to make a consolidated return with affiliated corporations taxable under part one and under part two in which case the consolidated tax will be computed in accordance with the provisions of part one. In all other cases in which a corporation taxable under part two makes a consolidated return with corporations taxable under part one, the consolidated tax will be computed in accordance with the provisions of part one. In any case in which a tax is assessed upon the basis of a consolidated return, the total tax shall be computed in the first instance as a unit and shall then be assessed upon the respective affiliated corporations in such proportions as may be agreed upon among them, or in the absence of any such agreement, then on the basis of the net income properly assignable to each.

NYC Admin. Code § 11-635 Payment of tax.

§ 11-635 Payment of tax. Each taxpayer shall, at the time of filing its return, pay to the commissioner of finance: (a) the amount of tax payable hereunder as the same shall appear from the face of the return, or (b) if payments of estimated tax have been made pursuant to section 11-636 of this part, the balance, if any, of the tax payable hereunder, as the same shall appear from the face of the return, after applying thereto any payments made pursuant to said section. If the time for filing the return shall be extended, the taxpayer shall pay in addition interest at the rate of six per centum per annum from the time when the return was originally required to be filed to the time of payment upon the amount by which the tax, or the portion thereof payable when the return was required to be filed, exceeds the amount then paid: (1) a payment made on or before the date of filing of an application for an automatic extension shall be deemed properly estimated if its either: (A) not less than ninety per centum of the tax as finally determined, or (B) 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; and (2) the time when a return is required to be filed shall be determined without regard to any extension of time for filing such return.

NYC Admin. Code § 11-636 Declaration of estimated tax; payments on account of estimated tax.

§ 11-636 Declaration of estimated tax; payments on account of estimated tax. 1. Every taxpayer subject to the tax imposed by part one or two of this subchapter shall make a declaration of the estimated tax upon the basis of its net income for the current calendar year, containing such information as the commissioner of finance may prescribe by regulations or instructions, if such estimated tax can reasonably be expected to exceed one thousand dollars. 2. The term "estimated tax" means the amount which a taxpayer estimates to be the tax imposed upon it by part one or two of this subchapter upon the basis of its net income for the current calendar year, less the amount which it estimates to be the sum of any credits allowable against the tax. 3. A declaration of estimated tax shall be filed on or before June fifteenth of the calendar year upon the net income of which the tax is based, except that if the requirements of subdivision one are first met: (a) after June first and before October second of such calendar year, the declaration shall be filed on or before October fifteenth, or (b) after October first of such calendar year, the declaration shall be filed on or before January fifteenth of the succeeding calendar year. Notwithstanding any other provision of this subdivision, no declaration need be filed prior to September eleventh, nineteen hundred sixty-six. 4. A taxpayer may amend a declaration under regulations of the commissioner of finance. 5. If, on or before February fifteenth of the succeeding year, a taxpayer files its return for the calendar year upon the net income of which the declaration is required to be based, and pays therewith the balance, if any, of the full amount of the tax shown to be due on the return, (a) such return shall be considered as its declaration if no declaration was required to be filed during such calendar year, but is otherwise required to be filed on or before January fifteenth of the succeeding year pursuant to subdivision three, (b) such return shall be considered as an amendment permitted by subdivision four to be filed on or before January fifteenth if the tax shown on the return is greater than the estimated tax shown on a declaration previously made. 6. The commissioner of finance may grant a reasonable extension of time, not to exceed three months, for the filing of any declaration required pursuant to this section, on such terms and conditions as the commissioner may require. 7. Every taxpayer subject to the tax imposed by part one or two of this subchapter shall pay with the return of tax, if any, required to be filed upon the basis of its net income for the preceding calendar year, or with an application for extension of the time for filing such return, an amount equal to twenty-five per centum of the preceding year's tax, if such preceding year's tax exceeded one thousand dollars. 8. The estimated tax with respect to which a declaration for such calendar year is required pursuant to this section shall be paid as follows: (a) If the declaration is filed on or before June fifteenth, the estimated tax shown thereon, after applying thereto the amount if any, paid during the same calendar year pursuant to subdivision seven, 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 October fifteenth, and one on the following January fifteenth. (b) If the declaration is filed after June fifteenth, and not after October fifteenth of such calendar year, and is not required to be filed on or before June fifteenth of such calendar year, the estimated tax shown on such declaration, after applying thereto the amount, if any, paid during the same calendar year pursuant to subdivision seven, 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 January fifteenth. (c) If the declaration is filed after October fifteenth of such calendar year, and is not required to be filed on or before October fifteenth of such calendar year, the estimated tax shown on such declaration, after applying thereto the amount, if any, paid in respect of such calendar year pursuant to subdivision seven, shall be paid in full at the time of the filing of the declaration. (d) If the declaration is filed after the time prescribed therefor, or after the expiration of any extension of time therefor, paragraphs (b) and (c) of this subdivision shall not apply, and there shall be paid at the time of such filing all installments of estimated tax 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. 9. 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 by reason of such amendment, and if any amendment is made after October fifteenth of the calendar year, any increase in the estimated tax by reason thereof shall be paid at the time of making such amendment. 10. Any amount paid pursuant to subdivision seven shall be applied after payment as a first installment against the estimated tax of the taxpayer shown on the declaration next required to be filed pursuant to this section or, if no declaration of estimated tax is required to be filed by the taxpayer pursuant to this section, any such amount shall be considered a payment on account of the tax shown on the return of tax required to be filed by the taxpayer upon the basis of its net income for the calendar year during which such amount was paid. 11. Notwithstanding the provisions of section 11-679 of this chapter or of section three-a of the general municipal law, if any amount paid pursuant to subdivision seven, exceeds the tax shown on the return required to be filed by the taxpayer upon the basis of its net income for the calendar year 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, at the rate of six per centum per annum from the date of payment of the amount so paid pursuant to such subdivision to March fifteenth of the succeeding calendar year, provided, however, that no interest shall be allowed or paid under this subdivision if the amount thereof is less than one dollar. 12. As used in this section, "the preceding year's tax" means the tax imposed upon the taxpayer by part one or two of this subchapter upon the basis of its net income for the preceding calendar year, or, for purposes of computing the first installment of estimated tax when an application has been filed for extension of time for filing the return required to be filed for such preceding calendar year, the amount properly estimated pursuant to section 11-635 of this part as the tax imposed upon the basis of its net income for such calendar year. 13. This section shall apply to an income period of less than twelve months in accordance with regulations of the commissioner of finance. 14. The commissioner of finance may grant a reasonable extension of time, not to exceed six months, for payment of any installment of estimated tax required pursuant to this section, on such terms and conditions as the commissioner 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 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. 15. A taxpayer may elect to pay any installment of estimated tax prior to the date prescribed in this section for payment thereof.

NYC Admin. Code § 11-637 Real property taxable.

§ 11-637 Real property taxable. Nothing in this subchapter shall be construed to exempt the real property of any taxpayer from taxation to the same extent, according to its value, as other real property is taxed.

Source: City of New York, Charter, Administrative Code and Rules (American Legal Publishing XML export, codelibrary.amlegal.com)URL: https://codelibrary.amlegal.com/codes/newyorkcity/latest/NYCadmin/0-0-0-10680Fetched: 10/24/2026