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A taxpayer shall be allowed a credit against the amount of taxes imposed by this chapter for the amount of special rebates and discounts made in accordance with the provisions of section 22-602 of this chapter and for the amount of special rebates and discounts made in accordance with the provisions of section twenty-five-bb of the general city law. Such credit shall be applied against the amount of tax otherwise required to be paid as provided in subdivision a of section 11-1105 of this chapter and shall be claimed for the taxable period immediately succeeding the taxable period in which such rebates or discounts are made.
(a) A taxpayer that has obtained the certifications required by chapter six-B of title twenty-two of the code shall be allowed a credit against the tax imposed by this chapter, provided, however, that a taxpayer that is a vendor of utility services shall not be allowed the credit against the tax imposed by this chapter unless it elects as provided in subdivision (d) of section 22-622 of the code to take the credit against the tax imposed by this chapter. The amount of the credit shall be the amount determined by multiplying one thousand dollars or, in the case of an eligible business that has obtained pursuant to chapter six-B of such title twenty-two a certification of eligibility dated on or after July first, two thousand, for a relocation to eligible premises located within a revitalization area defined in subdivision (n) of section 22-621 of the code, three thousand dollars, by the number of eligible aggregate employment shares maintained by the taxpayer during the calendar year with respect to particular premises to which the taxpayer has relocated; provided, however, with respect to a relocation for which no application for a certificate of eligibility is submitted prior to July first, two thousand three, to eligible premises that are within a revitalization area, if the date of such relocation as determined pursuant to subdivision (j) of section 22-621 of the code is on or after January first, nineteen hundred ninety-nine, and before July first, two thousand, the amount to be multiplied by the number of eligible aggregate employment shares shall be one thousand dollars; provided, however, that no credit shall be allowed for the relocation of any retail activity or hotel services; and provided that in the case of an eligible business that has obtained pursuant to chapter six-B of such title twenty-two certifications of eligibility for more than one relocation, the portion of the total amount of eligible aggregate employment shares to be multiplied by the dollar amount specified in this subdivision for each such certification of a relocation shall be the number of total attributed eligible aggregate employment shares determined with respect to such relocation pursuant to subdivision (o) of section 22-621 of the code. For purposes of this subdivision, the terms "eligible aggregate employment shares", "relocate", "retail activity" and "hotel services" shall have the meanings ascribed by section 22-621 of the code.
(b) The credit allowed under this subdivision with respect to eligible aggregate employment shares maintained with respect to particular premises to which the taxpayer has relocated shall be allowed for the taxable periods in the first calendar year during which such eligible aggregate employment shares are maintained with respect to such premises and for taxable periods in any of the twelve succeeding calendar years during which eligible aggregate employment shares are maintained with respect to such premises, provided that the credit allowed for the taxable periods in the twelfth succeeding calendar year shall be calculated by multiplying the number of eligible aggregate employment shares maintained with respect to such premises in the twelfth succeeding calendar year by the lesser of one and a fraction the numerator of which is the number of days in the calendar year of relocation less the number of days the eligible business maintained employment shares in the eligible premises in the calendar year of relocation and the denominator of which is the number of days in such twelfth succeeding year during which such eligible aggregate employment shares are maintained with respect to such premises. The credit allowable under this section shall be applied against the amount of tax otherwise required to be paid for the last taxable period of the calendar year as provided in subdivision a of section 11-1105 of this chapter, shall be deducted from the taxpayer's tax prior to the deduction of the credit provided in subdivision b of such section, and shall be claimed on the tax return for the last taxable period of the calendar year. Except as provided in subdivision (c) of this section, if the amount of the credit allowable under this subdivision for any calendar year exceeds the tax imposed for such last taxable period in such calendar year, the excess may be carried over, in order, to the immediately succeeding taxable periods in the five immediately succeeding calendar years and, to the extent not previously allowable, shall be applied against the tax otherwise required to be paid for such periods. Such carryover credit shall be deducted from the taxpayer's tax prior to the deduction of the credit provided in subdivision b of section 11-1105 of this chapter. With respect to the last taxable period in a calendar year, the credit for such calendar year shall be taken prior to any carryover credit. If in any period there are carryover credits available from more than one year, such credits shall be applied against the tax in the order in which they were earned with the oldest available credit being taken first.
(c) In the case of a taxpayer that has obtained a certification of eligibility pursuant to chapter six-B of title twenty-two of the code dated on or after July first, two thousand for a relocation to eligible premises located within the revitalization area defined in subdivision (n) of section 22-621 of the code, the credits allowed under this section, or in the case of a taxpayer that has relocated more than once, the portion of such credits attributed to such certification of eligibility pursuant to subdivision (a) of this section, against the tax imposed by this chapter for the calendar year of such relocation and for the four calendar years immediately succeeding the calendar year of such relocation, shall be deemed to be erroneous payments of tax by the taxpayer to be credited or refunded, in accordance with the provisions of section 11-1108 of this chapter. For such calendar years, such credits or portions thereof may not be carried over to any succeeding taxable year; provided, however, that this subdivision shall not apply to any relocation for which an application for a certification of eligibility was not submitted prior to July first, two thousand three unless the date of such relocation is on or after July first, two thousand.
Editor's note: For related unconsolidated provisions, see Appendix A at L.L. 1987/049.
(a) A taxpayer that has obtained the certifications required by chapter six-C of title twenty-two of the code shall be allowed a credit against the tax imposed by this chapter, provided, however, that a taxpayer that is a vendor of utility services shall not be allowed the credit against the tax imposed by this chapter unless it elects as provided in subdivision (d) of section 22-624 of the code to take the credit against the tax imposed by this chapter. The amount of the credit shall be the amount determined by multiplying three thousand dollars by the number of eligible aggregate employment shares maintained by the taxpayer during the calendar year with respect to eligible premises to which the taxpayer has relocated; provided, however, that no credit shall be allowed for the relocation of any retail activity or hotel services. For purposes of this subdivision, the terms "eligible aggregate employment shares", "eligible premises", "relocate", "retail activity" and "hotel services" shall have the meanings ascribed by section 22-623 of the code.
(b) The credit allowed under this section with respect to eligible aggregate employment shares maintained with respect to eligible premises to which the taxpayer has relocated shall be allowed for the taxable period in which the relocation to eligible premises takes place and for succeeding taxable periods in the calendar year of the relocation and in any of the twelve succeeding calendar years during which eligible aggregate employment shares are maintained with respect to eligible premises, provided that the credit allowed for the taxable periods in the twelfth succeeding calendar year shall be calculated by multiplying the number of eligible aggregate employment shares maintained with respect to eligible premises in the twelfth succeeding calendar year by the lesser of one and a fraction the numerator of which is the number of days in the calendar year of relocation less the number of days the taxpayer maintained employment shares in eligible premises in the calendar year of relocation and the denominator of which is the number of days in such twelfth succeeding calendar year during which such eligible aggregate employment shares are maintained with respect to such premises. The credit allowable under this section shall be applied against the amount of tax otherwise required to be paid for the last taxable period of the calendar year as provided in subdivision a of section 11-1105 of this chapter, shall be deducted from the taxpayer's tax prior to the deduction of the credit provided in subdivision b of such section but after the credit provided for in section 11-1105.2 of this chapter, and shall be claimed on the tax return for the last taxable period of the calendar year. Except as provided in subdivision (c) of this section, if the amount of the credit allowable under this subdivision for any calendar year exceeds the tax imposed for such last taxable period in such calendar year, the excess may be carried over, in order, to the immediately succeeding taxable periods in the five immediately succeeding calendar years and, to the extent not previously allowable, shall be applied against the tax otherwise required to be paid for such periods. Such carryover credit shall be deducted from the taxpayer's tax prior to the deduction of the credit provided in subdivision b of section 11-1105 of this chapter but after the credit provided for in section 11-1105.2 of this chapter. With respect to the last taxable period in a calendar year, the credit for such calendar year shall be taken prior to any carryover credit. If in any period there are carryover credits available from more than one year, such credits shall be applied against the tax in the order in which they were earned with the oldest available credit being taken first.
(c) The credits allowed under this section, against the tax imposed by this chapter for the calendar year of the relocation and for the four taxable years immediately succeeding the calendar year of such relocation, shall be deemed to be overpayments of tax by the taxpayer to be credited or refunded, without interest, in accordance with the provisions of section 11-1108 of this chapter. For such calendar years, such credits or portions thereof may not be carried over to any succeeding calendar year.
In case the return required by this chapter shall be insufficient or unsatisfactory or if such return is not filed, the commissioner of finance shall determine the amount of the tax due from such information as is obtainable, and if necessary the tax may be estimated upon the basis of external indices. Notice of such determination shall be given to the person liable for the payment of the tax. Such determination shall finally and irrevocably fix such tax unless the person against whom it is assessed, within ninety days after the giving of notice of such determination or, if the commissioner of finance has established a conciliation procedure pursuant to section 11-124 of the code and the taxpayer has requested a conciliation conference in accordance therewith, within ninety days from the mailing of a conciliation decision or the date of the commissioner's confirmation of the discontinuance of the conciliation proceeding, both (1) serves a petition upon the commissioner of finance and (2) files a petition with the tax appeals tribunal for a hearing, or unless such commissioner of his or her own motion shall redetermine the same. Such hearing and any appeal to the tax appeals tribunal sitting en banc from the decision rendered in such hearing shall be conducted in the manner and subject to the requirements prescribed by the tax appeals tribunal pursuant to sections one hundred sixty-eight through one hundred seventy-two of the charter. After such hearing the tax appeals tribunal shall give notice of its decision to the person against whom the tax is assessed and to the commissioner of finance. A decision of the tax appeals tribunal sitting en banc shall be reviewable for error, illegality, unconstitutionality or any other reason whatsoever by a proceeding under article seventy-eight of the civil practice law and rules if instituted by the person against whom the tax was assessed within four months after the giving of the notice of such tax appeals tribunal decision. A proceeding under such article of such law and rules shall not be instituted by a taxpayer unless (a) the amount of any tax sought to be reviewed with penalties and interest thereon, if any, shall first be deposited with the commissioner of finance and there shall be filed with such commissioner an undertaking, issued by a surety company authorized to transact business in this state and approved by the superintendent of insurance of this state as to solvency and responsibility, in such amount and with such sureties as a justice of the supreme court shall approve, to the effect that if such proceeding be dismissed or the tax confirmed, the taxpayer will pay all costs and charges which may accrue in the prosecution of the proceeding, or (b) at the option of the taxpayer such undertaking filed with the commissioner of finance may be in a sum sufficient to cover the taxes, penalties and interest thereon stated in such decision, plus the costs and charges which may accrue against it in the prosecution of the proceeding, in which event the taxpayer shall not be required to deposit such taxes, penalties and interest as a condition precedent to the application.
a. If a taxpayer fails to comply with subdivision d of section 11-1104 of this chapter in not reporting a change or correction of its sales and compensating use tax liability or in not filing a copy of an amended return or report relating to its sales and compensating use tax liability, instead of the mode and time of assessment provided for in section 11-1106 of this chapter, the commissioner of finance may assess a deficiency based upon such changed or corrected sales and compensating use tax liability, as same relates to credits claimed under this chapter, by mailing to the taxpayer a notice of additional tax due specifying the amount of the deficiency, and such deficiency, together with the interest and penalties stated in such notice, shall be deemed assessed on the date such notice is mailed unless within thirty days after the mailing of such notice a report of the state change or correction or a copy of an amended return or report, where such copy was required, is filed accompanied by a statement showing wherein such state determination and such notice of additional tax due are erroneous. Such notice shall not be considered as a notice of determination for the purposes of section 11-1106 of this chapter.
b. If a report filed pursuant to subdivision d of section 11-1104 of this chapter concedes the accuracy of a state change or correction of sales and compensating use tax liability, any deficiency in tax resulting therefor shall be deemed assessed on the date of filing such report.
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