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136. Subdivisions. (a) and (c) of section 146-153. O of such code, as added by local law number thirty-six of the city of New York for the year nineteen hundred seventy-six, are amended to read as follows:

(a) General. Any return, [declaration,] statement or other document required to be made pursuant to this part shall be signed in accordance with regulations or instructions prescribed by the tax commission. The fact that an individual's name is signed to return, [declaration, ] statement, or other document, shall be prima facie evidence for all purposes that the return, [declaration,] statement or other document actually signed by him.

(C) Certifications. The making or filing of any return, [declaration, ] statement or other document or copy thereof required to be made or filed pursuant to this part, including a copy of a federal return, shall constitute a certification by the person making filing, such return, [declaration, ] statement or other document or copy thereof that the statements contained therein are true and that any copy filed is a true copy.

$ 137. Sections T46-155.0 and 146-156.0 of such code are repealed.

$ 138. Subdivision (a) of section 146-157.0 of such code, as amended by chapter six hundred seventy-five of the laws of nineteen hundred seventy-seven, is_amended to read as follows:

(a) General. The tax commission may grant a reasonable extension of time for payment of tax or estimated tax (or any

for filing any return, [declaration, ] statement or other document required pursuant to this part, on such terms and conditions as it may require. Except for a taxpayer who is outside the United States or who intends to claim nonresident status pursuant to subparagraphs (i), (ii) and (iii) of paragraph one of subdivision (a) of section 146-105.0, no such extension for filing any return, [declaration,] statement or other document, shall exceed six months.

§ 139. Subdivision (c) of section 146-182. O of such code, as added by local law number thirty-six of the city of New York for the

year nineteen hundred seventy-six, is amended to read as follows:

(c) Estimated income tax. -No unpaid amount of estimated tax [under section 146-156.0] shall be assessed.

§ 140. Subdivision (b) of section 146-184.0 of such code, as added by local law number thirty-six of the city of New York for the year nineteen hundred seventy-six, is amended to read as follows:

(b) Exception as to estimated tax. -This section shall not apply to any failure to pay estimated tax [under section 146-156.0].

S 141. Subdivisions (c), (d) and (i) of section T46-185.0 of such code, subdivision (c) as amended by chapter two hundred eighty-five of the laws of nineteen hundred eighty-four and subdivisions (a) and (i) as added by local law number thirty-six of the city of New York for the year nineteen hundred seventy-six, are amended to read as follows:

(c) Failure by individual to pay estimated income tax. -(1) [If any taxpayer fails to pay all or any part of an installment of estimated tax, he shall be deemed to have made an underpayment of estimated tax. There shall be added to the tax for the taxable year an amount at the rate set by the tax commission pursuant to section T46-197.0, or if no rate is set, at the rate of six per cent per annum upon the amount of the underpayment for the period of the underpayment and not beyond the fifteenth day of the fourth month following the close of the taxable year. The amount of underpayment shall be the excess of the amount of the installment which would be required to be paid if the estimated tax

equal to eighty per cent of the tax two-thirds of the tax for farmers and fishermen referred to in subdivision (e) of section T46-155.0) shown on the return for the taxable year (or if no return was filed, of the tax for such year) over the amount, if any,

of the installment paid on or before the last day prescribed for such payment. No ụnderpayment shall be deemed to exist with respect to a declaration installment otherwise due on or after the taxpayer's death.

(2) No addition to tax shall be imposed under paragraph one hereof for any taxable year if

(A) The taxpayer did not have any liability for tax under this title or title U of this chapter for the preceding taxable year,

(B) The preceding taxable year was a taxable year of twelve months, and

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EXPLANATION-Matter in italics is new; matter in brackets [ ] is old law (C) Throughout the preceding taxable year the taxpayer was a resident of the city or, under such title U, a nonresident who had wages earned or net earnings from self-employment within the city]

Addition to the tax.-Except as otherwise provided in this subdivision and subdivision (d): in the case of any under payment of estimated tax by an individual, there shall be added to the tax under this title for the taxable year an amount determined by applying the applicable annual rate established under section 146-197.0, or if no rate is set, at the rate of six percent per annum, to the amount of the under payment for the period of the under payment. Such period shall run from the due date for the required installment to the earlier of the fifteenth day of the fourth month following the close of the taxable year or, with respect to any portion of the under payment, the date on which such portion is paid. For . purposes of determining such date, a payment of est'imated tax shall be credited against unpaid required installments in the order in which such installments are required to be paid. There shall be four required installments for each taxable year, due on April fifteenth, June fifteenth and September fifteenth of such taxable year and on January fifteenth of the following taxable year.

(2) Amount of underpayment .-For purposes of paragraph one, the amount of the underpayment shall be the excess of the required installment over the amount,

if any, of the installment paid on or before the due date for the installment.

(3) Required installment :-Except, provided in paragraph four, the amount of any required installment shall be twenty-five percent of the required annual payment. The required annual payment is the lesser of eighty percent of the tax shown on the return for the taxable year (or, if no return is filed, eighty percent of the tax for such year), or one hundred percent of the tax shown on the return of the individual for the preceding taxable year, provided the individual filed a return for such year and such year was a taxable year of twelve months.

(4). Annualized income installment.-(A) In general.-In the case of any required installment, if the individual establishes that the annualized income installment determined under subparagraph (B) of this paragraph is less than the amount determined under paragraph three, the annualized income installment shall be the required installment. Any reduction in a required installment resulting from the application of this subparagraph shall be recaptured by increasing the amount of the next required installment determined under paragraph three by the amount of such reduction, and by increasing successive required installments as necessary to effect full recapture.

(B) Determination of annualized income installment.-In the case of any required installment, the annualized income installment is the excess, if any,

of an amount equal to the applicable percentage of the tax for the taxable year computed by placing on an annualized basis the taxable income and minimum taxable income for months in the taxable year ending before the due date for the installment, over the aggregate amount of any prior required installments for the taxable year. The applicable percentage of the tax shall be twenty percent in the case of the first installment, forty percent in the case of the second installment, sixty percent in the case of the third installment and eighty percent in the case of the fourth installment, and shall be computed without regard to any increase in the rates applicable to the taxable year unless such increase

enacted at least thirty days prior to the due date of the installment.

(5). Definitions and special rules.-(A) Definition of the term tax and application of credits against tax.-For purposes of this subdivision and subdivision (d), the term "tax" means the tax imposed under this title minus the credits against tax allowed under this title, other than the credit under section 746-173.0, relating to tax withheld on wages. The credit allowed under section 146-173.0 for the taxable year

shall be deemed payment

of estimated tax, and an equal part of such amount shall be deemed paid on each installment due date for such taxable year, unless the taxpayer establishes the dates on which all amounts were ac, tually withheld, in which case the amounts so withheld shall be deemed payments of estimated tax on the dates on which such amounts were actually withheld.

(B) Special rule where return filed on or before January thirtyfirst.-If, on or before January thirty-first of the following taxable year, the taxpayer files a return for the taxable year and pays in full the amount computed on the return as payable, then no addition to tax

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shall be imposed under paragraph one with respect to any under payment of the fourth required installment for the taxable year.

(C) Special rules for farmers and fishermen.-For purposes of this subdivision, if an individual is a farmer or fisherman for any, taxable year there shall be only one required installment for the taxable year, due on January fifteenth of the following taxable year in an amount equal to the required annual payment determined under paragraph three by substituting sixty-six and two-thirds percent for eighty percent. Sụbparagraph (B) of this paragraph shall be applied by substituting March first for January thirty-first and by treating the required instalment under this subparagraph as the fourth required installment. An individual is a farmer or fisherman for any taxable year if the individual's city adjusted gross income from farming or fishing (including oyster farming). for the taxable year is at least two-thirds of the total city adjusted gross income from all sources for the taxable year

if such individual's city adjusted gross income from farming

fishing (including oyster farming) shown on the return of the individual for the preceding taxable year is at least two-thirds of the total city adjusted gross income from all sources shown on such return.

(D) Fiscal years.-In applying this subdivision to a taxable year beginning on any date other than January first, there shall be substituted, for the months specified in this subdivision, the months which correspond thereto.

(E) *Short taxable year.-This subdivision shall be applied to taxable years of less than twelve months in accordance with regulations prescribed by the tax commission.

(F) Joint estimated tax of husband and wife. A husband and wife may make the required annual payment determined under paragraph three as if they were one taxpayer, in which case the liability under paragraph one with repsect* to the estimated tax shall be joint and several. No such joint payment may be made if husband and wife are separated under a decree of divorce or separate maintenarse, or if they have different taxable years. If joint payment is made but husband and wife elect to determine their taxes under this title separately, the estimated tax for such year may be treated as the estimated tax of either husband or wife, or may be divided between them, as they may elect.

(d) [Exception] Exceptions to addition to tax for [underpayment of] failure to pay estimated income tax. -[The addition to tāx under subdivişion (c) with respect to any underpayment of any installment shall not be imposed if the total amount of all payments of estimated tax made on or before the last date prescribed for the payment of such installment equals or exceeds whichever of the following is the lesser:.

(1). The amount which would have been required to be paid on or before such date if the estimated tax were whichever of the following is the least:

(A). The tax shown on the return of the individual for the preceding taxable year, if a return showing a liability for tax was filed by the individual for the preceding taxable year and such preceding year was a taxable year of twelve months, or

(B) An amount equal to the tax computed, at the rates applicable to the taxable year, on the basis of the taxpayer's status with respect to personal exemptions for the taxable year, but otherwise on the basis of the facts shown on his return for, and the law applicable to, the preceding taxable year, or

(C) An ainount equal to eighty per cent of the tax for the taxable year (two-thirds of the tax for farmers and fishermen referred to in subdivision (e) of section 146-155.0) computed by placing, on an annualized basis the taxable income for the months in the taxable

year ending before the month in which the installment is required to be paid. For purposes of this subparagraph, the taxable income shall be placed on annualized basis by

(i) multiplying by twelve (or, in the case of a taxable year of less than twelve months, the number of months in the taxable year) the taxable income, (computed without deduction for personal exemptions) for the months in the taxable year ending before the month in which the instaliment is required to be paid,

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(ii) dividing the resulting amount by the number of months in the taxable year ending before the month in which such installment date falls, and

(iii), deducting from such amount the deductions for personal exemptions allowable for the taxable year (such personal exemptions being determined as of the last date prescribed for payment of the installment); or

(2) An amount equal to ninety per cent of the tax computed, at the rates applicable to the taxable year, on the basis of the actual' taxable income for the months in the taxable year ending before the month in which the installment is required to be paid]

(1) Where tax is small amount.-No addition to tax shall be imposed under subdivision. (c) for any taxable year if the tax shown on the return for such taxable year (or, if no return is filed, the tax), reduced by the credit allowable under section 146-173.0, is less than

hundred dollars.

(2) Where no tax liability for preceding taxable year:-No addition to tax shall be imposed under subdivision (c) for any taxable year if the preceding taxable year was a taxable year of twelve months, the individual did not have any liability for tax under this title for the preceding taxable year and throughout the preceding taxable year the individual was a resident of this city or a nonresident who had city ad justed gross income.

(3) Installment due on or after individual's death.-No addition to tax shall be imposed under subdivision (c) with respect to any installment due on or after the individual's death.

(4) Waiver in certain cases.-(A). In general.-No addition to tax shall be imposed under subdivision (c) with respect to any under payment to the extent the tax commission determines that by

of casualty, disaster or other unusual circumstances the imposition of such addition to tax would be against equity and good conscience.

(B) Newly retired or disabled individuals.-No addition to tax shall be imposed under subdivision (c) with respect to any under payment if the tax commission determines that in the taxable year for which estimated payments were required to be made or in the taxable year preceding such taxable year the taxpayer retired after having attained age sixty-two or became disabled, and that such under payment was due to reasonable and not to willful neglect.

(i) Additional penalty.-Any person who with fraudulent intent shall fail' to pay, or to deduct or withhold and pay, any tax, or to make, render, sign or certify any return [or declaration of estimated tax], or to supply any information within the time required by or under this part, shall be liable to penalty of not more than one thousand dollars, in addition to any other amounts required under this part, to be imposed, assessed and collected by the tax commission. The tax commission shall have the power, in its discretion, to waive, reduce or compromise any penalty under this subdivision.

Ś . 142. Subdivision (e) of section T46-186.0 of such code, as added by local law number thirty-six of the city

city of New York for

the year nineteen hundred seventy-six, is amended to read as follows:

(e) Credits against estimated tax. -The tax commission may prescribe regulations providing for the crediting against the estimated income tax for any

taxable year of the amount determined to be an overpayment of the income tax for a preceding taxable year. If any overpayment of intax is

so claimed as a credit against estimated tax for the succeeding taxable year, such amount shall be considered as payment of the income tax for the succeeding taxable year [(whether or not claimed as a credit in the declaration of estimated tax for such succeeding taxable year)], and no claim for credit or refund of such overpayment shall be allowed for the taxable year for which the overpayment arises.

§ 143. Subdivision (a) of section T46-191.0 of such code, as added by local law number thirty-six of the city of New York for the year nineteen hundred seventy-six, is amended to read as follows:

(a) Timely mailing: -If any return, [declaration of estimated tax,] claim, statement, notice, petition, or other document required to be filed, or any payment required to be made, within a prescribed period or on or before a prescribed date under authority of any provision of this part is, after such period or such date, delivered by United States mail to the tax commission, bureau, office, officer or person with which or with whom such document is required to be filed, or to which or to whom such payment is required to be made, the date of the United States postmark stamped on the envelope shall be deemed to be the date of delivery.

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This [subsection] subdivision shall apply only if the postmark date falls within the prescribed period or on or before the prescribed date for the filing of such document, or for making the payment, including any extension granted for such filing or payment, and only if such document or payment was deposited in the mail, postage prepaid, properly addressed to the tax commission, bureau, office, officer or person with which or with whom the document is required to be filed or to which

or to whom such payment is required to be made. If any document or payment is sent by United States registered mail, such registration shall be prima facie evidence that such document or payment was delivered to the tax commission,, bureau, office, officer or person to which or.

to

whom addressed. To the extent that the tax commission shall prescribe by regulation, certified mail may be used in lieu of registered mail under this section. This [subsection] subdivision shall apply in the case of postmarks not made by the United States Post Office only' if and to the extent provided by regulations of the tax commission.

§ 144. Subdivision (i) of section T46-197.0 of such code, as added by local law number thirty-six of the city of New York for

the year nineteen hundred seventy-six, is amended to read as follows:

(i) Filing [declarations and] returns and making payments to depository banks. -Notwithstanding the provisions of subdivision (e) of this section, the tax commission, in its discretion, may require or permit any or all individuals, estates or trusts liable for any tax imposed by this part, to make payments on account of estimated tax and payment of any tax, pénalty or interest imposed by this part to banks, banking houses trust companies designated by the tax commission and to file [declarations of estimated tax and] reports and returns with such banks, banking houses or trust companies as agents of the tax commission, in lieu of making any such payment 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 146-198. 0.

§ 145. Subdivision (c) of section T46-200.0 of such code, as added by local law number thirty-six of the city of New York for the year nineteen hundred seventy-six, is amended to read as follows:

(c) Notwithstanding any other provisions of this part, the state tax commission may require:

(1) the filing of any or all of the following:

(A) a combined return which, in addition to the return provided for in section 146-151.0, may also include any or both of the returns required to be filed by a resident individual of New York state pursuant to the provisions of section six hundred fifty-one of the state tax law and which may be required to be filed by such individual pursuant to title. U of this chapter and (B) combined employer's return which,

in addition to the employer's return provided for by this part, may also include

any both of the employer's returns required to be filed by the same employer pursuant to the provisions of section six hundred seventy-four of such tax law and required to be filed by such employer pursuant to such title U and

[(C) combined declaration of estimated tax which, in addition to the declaration provided for in this part may also include any or both of the declarations required to be filed pursuant to the provisions of section six hundred fifty-five of such tax law and required to be filed pursuant to such title U, and] (2) where a combined return[, ) or employer's return [or declaration of estimated tax] is required, and with respect to the payment of estimated tax, the state tax commission may also require the payment to it of single amount which shall equal the total of the amounts which would have been required to be paid with the returns[] or employer's returns or [declarations] in payment of estimated tax pursuant to the provisions of article twentytwo of such tax law, and the provisions of this part as if no combined return[,] or employer's return [or declaration of estimated tax] were required. § 146. Sections U46-6.0 and U46-7.0 of such code are repealed.

§ 147. Section 046-14.0 of such code, as added by local law number sixty-one of the city of New York for the year nineteen hundred seventyfive, subdivision two as amended by chapter six hundred eighty-two of the ļaws of nineteen hundred seventy-six, is amended to read as follows: EXPLANATION-Matter in italics is new; matter in brackets [] is old law

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