§ 481. Penalties and interest. 1. (a)(i)(A) An agent or distributor or\nother person treated as a distributor pursuant to section four hundred\nseventy-one-d who or which fails to file a return or to pay any tax\nwithin the time required by or pursuant to this article (determined with\nregard to any extension of time for filing or paying) shall be subject\nto a penalty of ten per centum of the amount of tax determined to be due\nas provided in this article plus one per centum of such amount for each\nmonth or fraction thereof during which such failure continues after the\nexpiration of the first month after such return was required to be filed\nor such tax became due, not exceeding thirty per centum in the\naggregate.\n (B) If a tax on cigarettes or on tobacco products under this article\nis not paid when due by any other person, the person liable for the\npayment of such tax shall be subject to a penalty of fifty per centum of\nthe amount of such tax determined to be due as provided in this article\nplus one per centum of such amount for each month or fraction thereof\nduring which such failure to pay continues after the expiration of the\nfirst month after such tax became due.\n (C) In the case of a failure to file such return within sixty days of\nthe date prescribed for filing of such return by or pursuant to this\narticle (determined with regard to any extension of time for filing),\nthe penalty imposed by this paragraph shall not be less than the lesser\nof one hundred dollars or one hundred per centum of the amount required\nto be shown as tax on such return. For the purpose of the preceding\nsentence, the amount of tax required to be shown on the return shall be\nreduced by the amount of any part of the tax which is paid on or before\nthe date prescribed for payment of the tax and by the amount of any\ncredit against the tax which may be claimed upon the return.\n (ii) If any amount of tax is not paid on or before the last date\nprescribed in this article for payment, interest on such amount at the\nunderpayment rate set by the commissioner of taxation and finance\npursuant to subdivision twenty-sixth of section one hundred seventy-one\nof this chapter shall be paid for the period from such last date to the\ndate paid, whether or not any extension of time for payment was granted.\nInterest under this subparagraph shall not be paid if the amount thereof\nis less than one dollar.\n (iii) If the tax commission determines that such failure or delay was\ndue to reasonable cause and not due to willful neglect, it shall remit\nall or part of such penalty. The tax commission shall promulgate rules\nand regulations as to what constitutes reasonable cause.\n (iv) If the failure to pay any tax within the time required by or\npursuant to this article is due to fraud, in lieu of the penalties and\ninterest provided for in subparagraphs (i) and (ii) of this paragraph,\nthere shall be added to the tax (A) a penalty of two times the amount of\ntax due, plus (B) interest on such unpaid tax at the underpayment rate\nset by the commissioner of taxation and finance pursuant to subdivision\ntwenty-sixth of section one hundred seventy-one of this chapter for the\nperiod beginning on the last day prescribed by this article for the\npayment of such tax (determined without regard to any extension of time\nfor paying) and ending on the day on which such tax is paid.\n (v) The penalties and interest provided for in this paragraph shall be\ndetermined, assessed, collected and paid in the same manner as the taxes\nimposed by this article and shall be disposed of as hereinafter provided\nwith respect to moneys derived from the tax. Interest under this\nparagraph shall be compounded daily.\n (b) (i) In addition to any other penalty imposed by this article, the\ncommissioner may (A) impose a penalty of not more than six hundred\ndollars for each two hundred cigarettes, or fraction thereof, in excess\nof one thousand cigarettes in unstamped or
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