NY Tax L § 188 (2021)
2021 New York Laws TAX - Tax Article 9 - Corporation Tax 188 - Tax Surcharge.

§  188.  Tax  surcharge.  1.  In  addition  to the taxes imposed under   sections one hundred eighty-three, one hundred eighty-four, one  hundred   eighty-six and one hundred eighty-six-a of this article, there is hereby   imposed,  for  years  ending  on December thirty-first, nineteen hundred   ninety,  nineteen  hundred  ninety-one,  nineteen  hundred   ninety-two,   nineteen  hundred  ninety-three,  nineteen hundred ninety-four, nineteen   hundred ninety-five and nineteen hundred ninety-six, and, in addition to   the tax imposed under section one hundred eighty-six-e of this  article,   there  is  hereby  imposed,  for  years ending on December thirty-first,   nineteen hundred ninety-five and  nineteen  hundred  ninety-six,  a  tax   surcharge  at the rate of fifteen percent in the case of years ending on   December  thirty-first,  nineteen  hundred  ninety,   nineteen   hundred   ninety-one,   nineteen   hundred   ninety-two   and   nineteen   hundred   ninety-three, and until such rate is superseded;  at  the  rate  of  ten   percent  in  the case of years ending on December thirty-first, nineteen   hundred ninety-four, and until such rate is superseded; at the  rate  of   five  percent  in  the  case  of  years ending on December thirty-first,   nineteen hundred ninety-five, and until such rate is superseded; and  at   the  rate  of  zero  percent  in  the  case  of years ending on December   thirty-first, nineteen hundred ninety-six,  of  the  tax  imposed  under   sections  one hundred eighty-three, one hundred eighty-four, one hundred   eighty-six, one hundred eighty-six-a and  one  hundred  eighty-six-e  of   this  article,  after  deduction  of  any  credits against tax otherwise   allowable under this article. However, the tax surcharge imposed by this   section shall not be imposed upon any taxpayer for more than eighty-four   months (or twenty-four months, in the case  of  the  tax  imposed  under   section  one  hundred eighty-six-e).   The credits against tax otherwise   allowable under this article  shall  not  be  allowed  against  the  tax   surcharge  imposed  by  this section. Provided that, with respect to the   year ending on December thirty-first, nineteen hundred  ninety-one,  the   foregoing  tax surcharge imposed under this section with respect to such   section one hundred eighty-six-a of this article shall be computed based   upon the tax liability under such section for such  period  undiminished   by  the  application  of  any utility credit under article thirteen-A of   this chapter. Provided, further, that in addition to the  aforesaid  tax   surcharge  imposed with respect to such section one hundred eighty-six-a   of this article for the year ending  on  December  thirty-one,  nineteen   hundred ninety-one, for such year there is also hereby imposed an amount   in  addition to such surcharge; such additional amount shall be equal to   fifteen percent of the total amount of the utility credit under  article   thirteen-A of this chapter which was applied against tax liability under   such  section  one hundred eighty-six-a of this article for the tax year   ending December thirty-first, nineteen hundred ninety.1-a. Insofar as subdivision one of this section establishes a rate  of   fifteen  percent  in  the case of years ending on December thirty-first,   nineteen hundred ninety-three and until such rate is superseded, a  rate   of  ten  percent  in  the case of years ending on December thirty-first,   nineteen hundred ninety-four and until such rate is superseded,  a  rate   of  five  percent  in the case of years ending on December thirty-first,   nineteen hundred ninety-five and until such rate is  superseded,  and  a   rate   of  zero  percent  in  the  case  of  years  ending  on  December   thirty-first, nineteen hundred ninety-six, 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 years ending on   December thirty-first, nineteen hundred  ninety-four,  nineteen  hundred   ninety-five  and  nineteen  hundred ninety-six, 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  years   ending on December thirty-first, nineteen hundred ninety-four, including   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 years   ending on December thirty-first, nineteen hundred ninety-five, including   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   years ending on  December  thirty-first,  nineteen  hundred  ninety-six,   including years of fewer than twelve months, a tax surcharge at the rate   of two and one-half percent.2.  The  provisions  concerning  reports  under  sections  one hundred   eighty-six-a, one hundred eighty-six-e and  one  hundred  ninety-two  of   this article shall be applicable to this section, except that the report   covering the tax surcharge computed on the tax imposed under section one   hundred  eighty-three  of  this  article shall be filed on or before the   date one year after the date on which the report of such tax is required   to be filed.  An extension pursuant to section one hundred  ninety-three   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 said commissioner may   prescribe, and pays on or before the date of such filing in addition  to   any  other amounts required under this article, either ninety percent of   the tax surcharge required  to  be  paid  under  this  section  for  the   applicable  period  or  not  less  than  the  tax surcharge shown on the   taxpayer's report for the preceding period,  if  such  preceding  period   consisted  of twelve months, or in the case of the tax surcharge for the   year ending December  thirty-first,  nineteen  hundred  ninety,  fifteen   percent  of  the  tax  after  the  deduction  of  credits,  shown on the   taxpayer's report for the year ending  December  thirty-first,  nineteen   hundred  eighty-nine  if  such  year consisted of twelve months. The tax   surcharge imposed by this section shall be payable to  the  commissioner   in full at the time the report is required to be filed.3. Except as otherwise provided in this section, all of the provisions   of  this  article,  except  for sections one hundred eighty-three-a, one   hundred   eighty-four-a,   one   hundred   eighty-six-b,   one   hundred   eighty-six-c  and  two  hundred  five,  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  imposed   by  section  one  hundred  eighty-three,  one  hundred  eighty-four, one   hundred eighty-six, one hundred eighty-six-a or one hundred eighty-six-e   of this article 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 sections one  hundred  ninety-seven-a  and  one   hundred  ninety-seven-b  of  this  article  and  such  other  provisions   requiring such reading in order  to  effectuate  the  purposes  of  this   provision, unless a different meaning is clearly required.4.  The amount of tax surcharge imposed pursuant to this section shall   not be included in any calculation of a tax surcharge  imposed  pursuant   to  section  one  hundred eighty-three-a, one hundred eighty-four-a, one   hundred eighty-six-b or one hundred eighty-six-c of this article.