N.Y. General City Law art. 2-D, § 68: Interest on overpayment

§ 68. Interest on overpayment.--(a) General.--Notwithstanding the

provisions of section three-a of the state general municipal law,

interest shall be allowed and paid as follows at the rate of six per

cent per annum upon any overpayment in respect of the tax imposed by

this title:

(1) from the date of the overpayment to the due date of an amount

against which a credit is taken; or

(2) from the date of the overpayment to a date (to be determined by

the administrator) preceding the date of a refund check by not more than

thirty days, whether or not such refund check is accepted by the

taxpayer after tender of such check to the taxpayer. The acceptance of

such check shall be without prejudice to any right of the taxpayer to

claim any additional overpayment and interest thereon.

No interest shall be allowed or paid if the amount thereof is less

than one dollar.

(b) Advance payment of tax, payment of estimated tax, and credit for

income tax withholding.--The provisions of subdivisions (h), (i) and (j)

of section sixty-seven applicable in determining the date of payment of

tax for purposes of determining the period of limitations on credit or

refund, shall be applicable in determining the date of payment for

purposes of this section.

(c) Income tax refund within three months of due date of tax.--If any

overpayment of tax imposed by this local law is refunded within three

months after the last date prescribed (or permitted by extension of

time) for filing the return of such tax or within three months after the

return was filed, whichever is later, no interest shall be allowed under

this section on such overpayment.

(d) Refund of income tax caused by carryback.--For purposes of this

section, if any overpayment of tax imposed by this local law results

from a carryback of a net operating loss, such overpayment shall be

deemed not to have been made prior to the close of the taxable year in

which such net operating loss arises.

(e) Cross-reference.--For provision terminating interest after failure

to file notice of federal change under section thirty-nine, see

subdivision (c) of section sixty-seven.