N.Y. Comp. Codes R. & Regs. Tit. 20 §§ 7-3.2

Current through Register Vol. 46, No. 45, November 2, 2024

Section 7-3.2 - Definitions

(Tax Law, section 213-b(f))

(a) The term "preceding year's tax" as used in this Subpart means the tax imposed by article 9-A for the immediately preceding calendar or fiscal year. It also means, for purposes of computing the first installment of estimated tax when an application has been filed for extension of the time for filing the report required to be filed for the immediately preceding calendar or fiscal year, the amount properly estimated as the tax imposed upon the taxpayer for such preceding calendar or fiscal year.

(b) The term 'second preceding year's tax" as used in this Subpart means the tax imposed by article 9-A for the calendar or fiscal year preceding the calendar or fiscal year described in the first sentence of subdivision (a) of this section.

(c) For purposes of determining the calendar or fiscal year used pursuant to subdivisions (a) and (b) of this section, short taxable years will be considered.

N.Y. Comp. Codes R. & Regs. Tit. 20 §§ 7-3.2

Adopted New York State Register December 27, 2023/Volume XLV, Issue 52, eff. 12/27/2023