N.Y. Tax Law § 1520 — Tax surcharge

§ 1520. Tax surcharge. (a) In addition to the tax imposed under\nsections fifteen hundred one and fifteen hundred ten of this article,\nthere is hereby imposed, (1) for taxable years ending after June\nthirtieth, nineteen hundred eighty-nine and before July first, nineteen\nhundred ninety a tax surcharge at the rate of two and one-half percent\nof the tax imposed pursuant to such sections fifteen hundred one and\nfifteen hundred ten of this article, as limited by section fifteen\nhundred five of this article, before deduction of any credits against\ntax otherwise allowable under this article for all or any part of such\ntaxable years, (2) for taxable years ending after June thirtieth,\nnineteen hundred ninety and before July first, nineteen hundred\nninety-four, and until such rate is superseded, a tax surcharge at the\nrate of fifteen percent of the tax imposed pursuant to such sections\nfifteen hundred one and fifteen hundred ten of this article, as limited\nby section fifteen hundred five of this article, after deduction of any\ncredits against tax otherwise allowable under this article, (3) for\ntaxable years ending after June thirtieth, nineteen hundred ninety-four\nand before July first, nineteen hundred ninety-five, and until such rate\nis superseded, a tax surcharge at the rate of ten percent of the tax\nimposed pursuant to such sections fifteen hundred one and fifteen\nhundred ten of this article, as limited by section fifteen hundred five\nof this article, after deduction of any credits against tax otherwise\nallowable under this article, (4) for taxable years ending after June\nthirtieth, nineteen hundred ninety-five and before July first, nineteen\nhundred ninety-six, and until such rate is superseded, a tax surcharge\nat the rate of five percent of the tax imposed pursuant to such sections\nfifteen hundred one and fifteen hundred ten of this article, as limited\nby section fifteen hundred five of this article, after deduction of any\ncredits against tax otherwise allowable under this article, and (5) for\ntaxable years ending after June thirtieth, nineteen hundred ninety-six\nand before July first, nineteen hundred ninety-seven, a tax surcharge at\nthe rate of zero percent of the tax imposed pursuant to such sections\nfifteen hundred one and fifteen hundred ten of this article, as limited\nby section fifteen hundred five of this article, after deduction of any\ncredits against tax otherwise allowable under this article. However, the\ntax surcharge imposed by this section at the rate of two and one-half\npercent shall not be imposed upon any taxpayer for more than twelve\nmonths, the tax surcharge imposed under this section at the rate of\nfifteen percent shall not be imposed on any taxpayer for more than\nforty-eight months, and the tax surcharges imposed by this section at\nthe rates of ten percent, five percent and zero percent shall not,\nrespectively, be imposed upon any taxpayer for more than twelve months,\nand the commissioner shall prescribe by regulation or instructions a\nmethod of proration designed to effectuate such result. The limitation\non tax provided for in section fifteen hundred five of this article\nshall not be applicable to the tax surcharge imposed by this section.\nThe credits against tax otherwise allowable under section fifteen\nhundred eleven of this article shall not be allowed as a credit against\nthe tax surcharge imposed by this section. A taxpayer which has made the\nelection provided for in section fifteen hundred two-a of this article\nshall nevertheless compute its tax under this section as if it computed\nits taxes pursuant to the provisions of sections fifteen hundred two and\nfifteen hundred ten of this article.\n (b) (1) The provisions concerning returns under section fifteen\nhundred fifteen of this article shall be applicable to this section,\nexcept that for purposes of an automatic extension for six months for\nfiling a return covering the taxes imposed by this article, such\nautomatic extension shall be allowed, for taxable years to which the tax\nsurcharge imposed by this section apply, only if a taxpayer files with\nthe commissioner an application for extension in such form as the\ncommissioner may prescribe and pays on or before the date of such filing\nin addition to any other amounts required under this article, two and\none-half percent, fifteen percent, ten percent, five percent or zero\npercent, whichever is the rate applicable to the taxable year pursuant\nto subdivision (a) of this section, of the amount properly estimated as\nprovided in subdivision (b) of section fifteen hundred sixteen of this\narticle as its taxes payable under sections fifteen hundred one and\nfifteen hundred ten of this article, before deduction of any credits\nagainst tax otherwise allowable under section fifteen hundred eleven of\nthis article in the case of the tax surcharge imposed at the rate of two\nand one-half percent, and after deduction of any credits against tax\notherwise allowable under section fifteen hundred eleven of this article\nin the case of the tax surcharge imposed at the rate of fifteen, ten,\nfive or zero percent. The tax surcharge imposed by this section shall be\npayable to the commissioner in full at the time the return is required\nto be filed.\n (2) Except as otherwise provided in this section, all of the\nprovisions of this article, except for sections fifteen hundred five,\nfifteen hundred five-A and fifteen hundred eleven, presently applicable\nare applicable to the tax surcharge imposed by this section with such\nmodifications as may be necessary to adapt such language to the tax\nsurcharge imposed by this section. Such provisions shall apply with the\nsame force and effect as if those provisions had been set forth in full\nin this section except to the extent that any provision is either\ninconsistent with a provision of this section or not relevant to the tax\nsurcharge imposed by this section and to that end a reference in this\narticle to the tax imposed by sections fifteen hundred one and fifteen\nhundred ten of this article shall be read as a reference to the tax\nsurcharge imposed by this section, and to the sum of such tax and such\ntax surcharge in the case of sections fifteen hundred thirteen and\nfifteen hundred fourteen of this article and such other provisions\nrequiring such reading in order to effectuate the purposes of this\nprovision, unless a different meaning is clearly required.\n (c) Coordination with section fifteen hundred five-A of this article.\nThe amount of tax surcharge imposed pursuant to this section shall not\nbe included in any calculation of a tax surcharge imposed pursuant to\nsection fifteen hundred five-A of this article.\n (d) Insofar as subdivision (a) of this section establishes a rate of\nfifteen percent in the case of taxable years ending after June\nthirtieth, nineteen hundred ninety and before July first, nineteen\nhundred ninety-four and until such rate is superseded, a rate of ten\npercent in the case of taxable years ending after June thirtieth,\nnineteen hundred ninety-four and before July first, nineteen hundred\nninety-five and until such rate is superseded, a rate of five percent in\nthe case of taxable years ending after June thirtieth, nineteen hundred\nninety-five and before July first, nineteen hundred ninety-six and until\nsuch rate is superseded, and a rate of zero percent in the case of\ntaxable years ending after June thirtieth, nineteen hundred ninety-six\nand before July first, nineteen hundred ninety-seven, the transition\nfrom such rate of fifteen percent to such rate of ten percent, from such\nrate of ten percent to such rate of five percent, and from such rate of\nfive percent to such rate of zero percent, shall be deemed to occur,\nrespectively, on the first day of the seventh month of each of such\ntaxable years, with the result that for purposes of implementation of\nsuch changes in rates, and notwithstanding such subdivision (a), there\nis hereby imposed with respect to all taxable years ending after June\nthirtieth, nineteen hundred ninety-four and before July first, nineteen\nhundred ninety-five, including taxable years of fewer than twelve\nmonths, a tax surcharge at the rate of twelve and one-half percent;\nthere is hereby imposed with respect to all taxable years ending after\nJune thirtieth, nineteen hundred ninety-five and before July first,\nnineteen hundred ninety-six, including taxable years of fewer than\ntwelve months, a tax surcharge at the rate of seven and one-half\npercent; and there is hereby imposed with respect to all taxable years\nending after June thirtieth, nineteen hundred ninety-six and before July\nfirst, nineteen hundred ninety-seven, including taxable years of fewer\nthan twelve months, a tax surcharge at the rate of two and one-half\npercent. In addition, for purposes of implementation of all the\nprovisions of this section references to ten percent shall be read as\nreferences to twelve and one-half percent, references to five percent\nshall be read as references to seven and one-half percent and references\nto zero percent shall be read as references to two and one-half percent.\n