2023 New York Laws › TAX - Tax › Article 33 - Franchise Taxes on Insurance Corporations › 1513 - Declarations of Estimated Tax.

§   1513.   Declarations   of   estimated  tax.  (a)  Requirements  of
declaration.--Every taxpayer subject to the  taxes  imposed  under  this
article  shall  make  a declaration of its estimated tax for the current
taxable  year,  containing  such  information  as  the  commissioner  of
taxation  and  finance  may prescribe by regulations or instructions, if
such estimated tax can reasonably be expected  to  exceed  one  thousand
dollars.  If  a  taxpayer  is  subject  to  the tax surcharge imposed by
section fifteen hundred five-a and such taxpayer's estimated  tax  under
this  article  can  (without  regard  to  section fifteen hundred five-a
thereof) reasonably be expected to exceed  one  thousand  dollars,  such
taxpayer  shall  also  make a declaration of its estimated tax surcharge
for the current taxable year.
(b) Definition of estimated tax and estimated tax surcharge. The terms
"estimated tax" and "estimated tax surcharge" mean the amounts which the
taxpayer estimates to be the taxes imposed by sections  fifteen  hundred
one,  fifteen  hundred  two-a and fifteen hundred ten of this article or
the tax surcharge imposed by section  fifteen  hundred  five-a  of  this
article, respectively, for the current taxable year, less the sum of any
credits  which  it  estimates  to be allowable against such taxes or tax
surcharge, respectively.
(c) Time of filing declaration.--A declaration of estimated tax and  a
declaration  of estimated tax surcharge shall be filed on or before June
fifteenth of the current taxable year in the case of  a  taxpayer  which
reports on the basis of a calendar year, except that if the requirements
of subdivision (a) of this section are first met:
(1)  after May thirty-first and before September first of such current
taxable year the declaration shall  be  filed  on  or  before  September
fifteenth, or
(2)  after  August  thirty-first  and  before  December  first of such
current taxable year, the  declaration  shall  be  filed  on  or  before
December fifteenth.
(d)  Amendments of declaration.--A taxpayer may amend a declaration of
estimated  tax  or  a  declaration  of  estimated  tax  surcharge  under
regulations prescribed by the commissioner of taxation and finance.
(e)  Return as declaration. If, on or before February fifteenth of the
succeeding year in the case of  a  taxpayer  whose  taxable  year  is  a
calendar  year,  a  taxpayer files its return for the year for which the
declaration is required, and pays therewith the balance, if any, of  the
full amount of the tax or tax surcharge shown to be due on the return
(1)  such  return  shall  be  considered  as  its  declaration  if  no
declaration was required to be filed during the taxable year  for  which
the  tax  or  tax surcharge was imposed, but is otherwise required to be
filed on or before December  fifteenth  pursuant  to  paragraph  two  of
subdivision (c) of this section, and
(2)  such  return  shall  be  considered as the amendment permitted by
subdivision (d) of this section  to  be  filed  on  or  before  December
fifteenth  if  the  tax  or tax surcharge shown on the return is greater
than the estimated tax or estimated tax surcharge, as the case  may  be,
shown on a declaration previously made.
(f) Short taxable period. If the taxable period for which a tax or tax
surcharge  is  imposed  under  this  article is less than twelve months,
every taxpayer required to make a declaration  of  estimated  tax  or  a
declaration  of  estimated  tax  surcharge for such taxable period shall
make such declaration in accordance with rules of  the  commissioner  of
taxation and finance.
(g) Fiscal year. The provisions of this section shall apply to taxable
years of twelve months other than a calendar year by the substitution of

the months of such fiscal year for the corresponding months specified in
such provisions.
(h)  Extension  of  time.  The  tax  commission 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 it may require.