N.Y. Tax Law 866 – Procedural provisions
§ 866. Procedural provisions. (a) General. All provisions of article twenty-two of this chapter will apply to the provisions of this article in the same manner and with the same force and effect as if the language of article twenty-two of this chapter had been incorporated in full into this article and had been specifically adjusted for and expressly referred to the tax imposed by this article, except to the extent that any provision is either inconsistent with a provision of this article or is not relevant to this article. Notwithstanding the preceding sentence, no credit against tax in article twenty-two of this chapter can be used to offset the tax due pursuant to this article.
Terms Used In N.Y. Tax Law 866
- 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.
- 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.
(b) Notwithstanding any other law to the contrary, the commissioner may require that all forms or returns pursuant to this article must be filed electronically and all payments of tax must be paid electronically.
(c) Liability for tax. (1) An electing partnership or electing S corporation shall be liable for the tax due pursuant to this article.
(2) Except as provided in paragraph three of this subsection, any article twenty-two taxpayer eligible to claim a credit pursuant to subsection (kkk) of section six hundred six of this chapter because he or she is a partner or member in an electing partnership or a shareholder in an electing S corporation, either directly or through a disregarded entity, shall be severally liable to the extent not paid by the electing partnership or electing S corporation for his or her direct share of pass-through entity tax.
(3) Any article twenty-two taxpayer eligible to claim a credit pursuant to subsection (kkk) of section six hundred six of this chapter because he or she is a partner or member in an electing partnership or a shareholder in an electing S corporation, either directly or through a disregarded entity, that is a general, managing or controlling partner of the electing partnership or managing or controlling shareholder of the electing S corporation, or owns greater than fifty percent of the interests or profits of the electing partnership or electing S corporation, or is under a duty to act for the electing partnership or S corporation in complying with the provisions of this article, or was the individual that made the election on behalf of the electing partnership or electing S corporation under subsection (b) of section eight hundred sixty-one of this article shall be jointly and severally liable for the tax imposed pursuant to this article on such electing partnership or electing S corporation.
(d) Deposit and disposition of revenue. All taxes, interest, penalties, and fees collected or received by the commissioner pursuant to this article shall be deposited and disposed of pursuant to the provisions of section one hundred seventy-one-a of this chapter.
(e) Secrecy provision. All the provisions of paragraphs one and two of subsection (e) of section six hundred ninety-seven of this chapter will apply to the provisions of this article. Notwithstanding any provisions of this chapter to the contrary, the commissioner may disclose information and returns regarding the calculation and payment of the tax imposed by this article and any credit calculated on taxes paid pursuant to this article by an electing partnership or electing S corporation to a partner, member or shareholder of such entity that is eligible for or claims to be eligible for a credit under subsection (a) of section eight hundred sixty-three of this article.