N.Y. Tax Law 1554 – Returns and payment
§ 1554. Returns and payment. (a) Every person shall file a return with the commissioner of taxation and finance, in a form prescribed by the commissioner of taxation and finance, within sixty days of the end of the calendar quarter during which a taxable insurance contract took effect or was renewed. Such return shall set forth such information as the commissioner of taxation and finance may prescribe. The commissioner of taxation and finance may grant a reasonable extension of time for filing such returns.
Terms Used In N.Y. Tax Law 1554
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- person: means an individual, corporation, partnership, limited liability company, society, association, joint stock company, estate, receiver, trustee, assignee, referee and any other person acting in a fiduciary capacity, whether appointed by a court or otherwise, and any combination of the foregoing. See N.Y. Tax Law 1550
(b) Every return filed by a corporation, partnership, limited liability company or association shall have annexed thereto a certification made by any person duly authorized so to act on behalf of such corporation, partnership, limited liability company or association that the statements contained therein are true. The fact that an individual's name is signed on a certification of the return shall be prima facie evidence that such individual is authorized to sign and certify the return on behalf of the corporation, partnership, limited liability company or association. Blank forms of returns shall be furnished by the commissioner of taxation and finance, on application, but failure to secure such a form shall not release any person from the obligation of making any return required by this article.
(c) An action may be brought at any time by the attorney general at the instance of the commissioner of taxation and finance, in the name of the state, to compel the filing of returns due under this article.
(d) The tax shall be payable to the commissioner of taxation and finance in full at the time that the return is required to be filed. The commissioner of taxation and finance may grant a reasonable extension of time for payment of tax under such terms and conditions as he deems just and proper.