20 NYCRR § 7-3.6
Application of installments based on preceding and second preceding year's tax
(Tax Law, section 213-b(a) and (d))
Any amount of mandatory first installment paid must first be applied as payment of the first installment against the estimated tax for the current taxable year shown on the declaration required to be filed, and any amount remaining must be considered as a payment on account of the tax shown on the report required to be filed by the taxpayer for the current taxable year. If no declaration of estimated tax is required to be filed by the taxpayer, any amount of mandatory first installment paid will be considered as a payment on account of the tax shown on the report required to be filed by the taxpayer for the current taxable year.
Source: official source document (DTF adopted rule text, December 2023 corporate reform)
In this part (18 sections)
- 7-1.1 · Time for payment of tax
- 7-1.2 · Properly estimated tax
- 7-1.3 · Cessation tax
- 7-2.1 · Requirement of declaration
- 7-2.2 · Amendments of declaration
- 7-2.3 · Report as declaration or amendment
- 7-2.4 · Short periods
- 7-2.5 · Time for filing declaration of estimated tax for short taxable…
- 7-2.6 · Extension of time for filing declaration of estimated tax
- 7-3.1 · General
- 7-3.2 · Definitions
- 7-3.3 · First installment of estimated tax for certain taxpayers
- 7-3.4 · Other installments of estimated tax
- 7-3.5 · Impact of amendments of declaration on estimated payments
- 7-3.6 · Application of installments based on preceding and second…
- 7-3.7 · Short taxable years
- 7-3.8 · Extension of time
- 7-3.9 · Payments of installments in advance