N.Y. Comp. Codes R. & Regs. tit. 20 § 416.2

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

Section 416.2 - Personal liability for a failure to pay the tax

Tax Law, § 289-b(2)

(a) In addition to any other penalty provided for by law, any officer, director, shareholder or employee of a corporation or of a dissolved corporation, any employee of a partnership or any employee of an individual proprietorship, who as such officer, director, shareholder or employee is under a duty to act for such corporation, partnership or proprietorship in complying with any requirement of article 12-A of the Tax Law, or any member of a partnership, which fails to pay the tax required to be paid by article 12-A of the Tax Law is liable for a penalty equal to the total amount of the tax not paid, plus penalties and interest thereon as if such person were a distributor. If the Department of Taxation and Finance determines that such failure was due to reasonable cause and not due to willful neglect, it will remit all or part of such penalty imposed under this section.

(b) The penalty pursuant to this section is determined, assessed, collected and paid in the same manner as the taxes imposed by article 12-A of the Tax Law.

N.Y. Comp. Codes R. & Regs. Tit. 20 § 416.2