N.Y. General City Model 772/66 § 127: Report of change in federal taxable income

§ 127. Report of change in federal taxable income.--If the amount of a

taxpayer's federal taxable income reported on his federal income tax

return for any taxable year is changed or corrected by the United States

internal revenue service or other competent authority, or as the result

of a renegotiation of a contract or subcontract with the United States,

or if a taxpayer, pursuant to subsection (d) of section sixty-two

hundred thirteen of the internal revenue code, executes a notice of

waiver of the restrictions provided in subsection (a) of said section,

the taxpayer shall report such change or correction in federal taxable

income or such execution of such notice of waiver and the changes or

corrections of his federal taxable income on which it is based, within

ninety days after the final determination of such change, correction, or

renegotiation, or such execution of such notice of waiver, or as

otherwise required by the director of finance, and shall concede the

accuracy of such determination or state wherein it is erroneous. Any

taxpayer filing an amended federal income tax return shall also file

within ninety days thereafter an amended return under this title, and

shall give such information as the director of finance may require. The

director of finance may by regulation prescribe such exceptions to the

requirements of this section as he deems appropriate.