New York Tax Law (Consolidated Laws)
N.Y. Tax Law § 187-P
Temporary deferral refundable payout credit
§ 187-p. Temporary deferral refundable payout credit.
# 1.
Allowance of credit. A taxpayer shall be allowed a credit, to be computed as provided in subdivision two of section thirty-four of this chapter, against the taxes imposed by sections one hundred eighty-three and one hundred eighty-four of this article, or the tax imposed by section one hundred eighty-six-a of this article. However, the amount of such credit against the tax imposed by section one hundred eighty-four of this article shall be the excess of the amount of that credit over the amount of any credit allowed by this section against the tax imposed by section one hundred eighty-three of this article.
# 2.
Application of credit. In no event shall the credit under this section be allowed in an amount which will reduce the tax to less than the applicable minimum tax fixed by section one hundred eighty-three of this article. If, however, the amount of credit allowed under this section for any taxable year reduces the tax to such amount, any amount of credit not deductible in such taxable year shall be treated as an overpayment of tax to be refunded in accordance with the provisions of section one thousand eighty-six of this chapter, provided however, that no interest shall be paid thereon.
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In this article (40 sections)
- 184-A · Additional metropolitan transportation business tax surcharge…
- 186-A · Tax on the furnishing of utility services
- 186-C · Metropolitan transportation business tax surcharge on utility…
- 186-D · Transportation business tax on utility services in Erie county
- 186-E · Excise tax on telecommunication services
- 186-F · Public safety communications surcharge
- 186-G · Wireless communications surcharge authorized
- 187 · Credit for special additional mortgage recording tax
- 187-A · Credit for employment of persons with disabilities
- 187-B · Alternative fuels and electric vehicle recharging property…
- 187-C · Biofuel production credit
- 187-D · Green building credit
- 187-E · Credit for transportation improvement contributions
- 187-F · Order of credits
- 187-G · Brownfield redevelopment tax credit
- 187-H · Remediated brownfield credit for real property taxes for…
- 187-I · Environmental remediation insurance credit
- 187-N · Security training tax credit
- 187-N*2 · Fuel cell electric generating equipment expenditures credit
- 187-O · Temporary deferral nonrefundable payout credit
- 187-P · Temporary deferral refundable payout credit
- 187-Q · Utility COVID-19 debt relief credit
- 187-R · Commercial security tax credit
- 188 · Tax surcharge
- 189-B · Tax surcharge
- 190 · Long-term care insurance credit
- 191 · Receivers, etc
- 192 · Reports of corporations
- 193 · Extension of time for filing report
- 194 · Further requirements as to reports of corporations
- 197 · Payment of tax and penalties
- 197-A · Declaration of estimated tax
- 197-B · Payments of estimated tax
- 197-C · Applicability of section one hundred eighty-two-a
- 197-D · The provisions of article twenty-seven of this chapter which…
- 202 · Secrecy required of officials; penalty for violation
- 203 · Collection of taxes
- 203-A · Dissolution of delinquent business corporations
- 203-B · Annulment of authority to do business by foreign corporations
- 204 · Reports to be made by the secretary of state