§ 131. Limitations on assessment. (a) General.--Except as otherwise\nprovided in this section, any tax under this title shall be assessed\nwithin three years after the return was filed (whether or not such\nreturn was filed on or after the date prescribed).\n (b) Time return deemed filed.--For purposes of this section a return\nof income tax filed before the last day prescribed by law or by\nregulations promulgated pursuant to law for the filing thereof, shall be\ndeemed to be filed on such last day.\n (c) Exceptions.--(1) Assessment at any time.--The tax may be assessed\nat any time if--\n (A) no return is filed,\n (B) a false or fraudulent return is filed with intent to evade tax,\n (C) the taxpayer fails to comply with section one hundred twenty-seven\nin not reporting a change or correction increasing or decreasing his\nfederal taxable income as reported on his federal income tax return, or\nthe execution of a notice of waiver and the changes or corrections on\nwhich it is based or in not reporting a change or correction which is\ntreated in the same manner as if it were a deficiency for federal income\ntax purposes, or in not filing an amended return, or\n (D) the taxpayer fails to file a report or amended return or report\nrequired under section one hundred twenty-seven-A, in respect of a\nchange or correction of sales and compensating use tax liability,\nrelating to the purchase or use of items for which a sales or\ncompensating use tax credit against the tax imposed by this title was\nclaimed.\n (2) Extension by agreement.--Where, before the expiration of the time\nprescribed in this section for the assessment of tax, both the director\nof finance and the taxpayer have consented in writing to its assessment\nafter such time, the tax may be assessed at any time prior to the\nexpiration of the period agreed upon. The period so agreed upon may be\nextended by subsequent agreements in writing made before the expiration\nof the period previously agreed upon.\n (3) Report of changed or corrected federal income. If the taxpayer\nshall, pursuant to section one hundred twenty-seven, report a change or\ncorrection or file an amended return increasing or decreasing his\nfederal taxable income or report the execution of a notice of waiver and\nthe changes and corrections on which it is based, or a change or\ncorrection which is treated in the same manner as if it were a\ndeficiency for federal income tax purposes, the assessment (if not\ndeemed to have been made upon the filing of the report or amended\nreturn) may be made at any time within two years after such report or\namended return was filed. The amount of such assessment of tax shall not\nexceed the amount of the increase in city tax attributable to such\nfederal change or correction. The provisions of this paragraph shall not\naffect the time within which or the amount for which an assessment may\notherwise be made.\n (4) Deficiency attributable to net operating loss carryback.--If a\ndeficiency is attributable to the application to the taxpayer of a net\noperating loss carryback, it may be assessed at any time that a\ndeficiency for the taxable year of the loss may be assessed.\n (5) Recovery of erroneous refund.--An erroneous refund shall be\nconsidered an underpayment of tax on the date made, and an assessment of\na deficiency arising out of an erroneous refund may be made at any time\nwithin two years from the making of the refund, except that the\nassessment may be made within five years from the making of the refund\nif it appears that any part of the refund was induced by fraud or\nmisrepresentation of a material fact.\n (6) Request for prompt assessment.--If a return is required for a\ndecedent or for his estate during the period of administration, the tax\nshall be assessed within eighteen months after written request therefor\n(made after the return is filed) by the executor, administrator or other\nperson representing the estate of such decedent, but
‹ Prev All New York sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.