N.Y. General City Model 772/66 § 131: Limitations on assessment

§ 131. Limitations on assessment. (a) General.--Except as otherwise

provided in this section, any tax under this title shall be assessed

within three years after the return was filed (whether or not such

return was filed on or after the date prescribed).

(b) Time return deemed filed.--For purposes of this section a return

of income tax filed before the last day prescribed by law or by

regulations promulgated pursuant to law for the filing thereof, shall be

deemed to be filed on such last day.

(c) Exceptions.--(1) Assessment at any time.--The tax may be assessed

at any time if--

(A) no return is filed,

(B) a false or fraudulent return is filed with intent to evade tax,

(C) the taxpayer fails to comply with section one hundred twenty-seven

in not reporting a change or correction increasing or decreasing his

federal taxable income as reported on his federal income tax return, or

the execution of a notice of waiver and the changes or corrections on

which it is based or in not reporting a change or correction which is

treated in the same manner as if it were a deficiency for federal income

tax purposes, or in not filing an amended return, or

(D) the taxpayer fails to file a report or amended return or report

required under section one hundred twenty-seven-A, in respect of a

change or correction of sales and compensating use tax liability,

relating to the purchase or use of items for which a sales or

compensating use tax credit against the tax imposed by this title was

claimed.

(2) Extension by agreement.--Where, before the expiration of the time

prescribed in this section for the assessment of tax, both the director

of finance and the taxpayer have consented in writing to its assessment

after such time, the tax may be assessed at any time prior to the

expiration of the period agreed upon. The period so agreed upon may be

extended by subsequent agreements in writing made before the expiration

of the period previously agreed upon.

(3) Report of changed or corrected federal income. If the taxpayer

shall, pursuant to section one hundred twenty-seven, report a change or

correction or file an amended return increasing or decreasing his

federal taxable income or report the execution of a notice of waiver and

the changes and corrections on which it is based, or a change or

correction which is treated in the same manner as if it were a

deficiency for federal income tax purposes, the assessment (if not

deemed to have been made upon the filing of the report or amended

return) may be made at any time within two years after such report or

amended return was filed. The amount of such assessment of tax shall not

exceed the amount of the increase in city tax attributable to such

federal change or correction. The provisions of this paragraph shall not

affect the time within which or the amount for which an assessment may

otherwise be made.

(4) Deficiency attributable to net operating loss carryback.--If a

deficiency is attributable to the application to the taxpayer of a net

operating loss carryback, it may be assessed at any time that a

deficiency for the taxable year of the loss may be assessed.

(5) Recovery of erroneous refund.--An erroneous refund shall be

considered an underpayment of tax on the date made, and an assessment of

a deficiency arising out of an erroneous refund may be made at any time

within two years from the making of the refund, except that the

assessment may be made within five years from the making of the refund

if it appears that any part of the refund was induced by fraud or

misrepresentation of a material fact.

(6) Request for prompt assessment.--If a return is required for a

decedent or for his estate during the period of administration, the tax

shall be assessed within eighteen months after written request therefor

(made after the return is filed) by the executor, administrator or other

person representing the estate of such decedent, but not more than three

years after the return was filed, except as otherwise provided in this

subdivision and subdivision (d).

(7) Report on use of certain property.--Under the circumstances

described in paragraph two of subdivision (b) of section one hundred

eight, the tax may be assessed within three years after the filing of a

return reporting that property has been used for purposes other than

research and development to a greater extent than originally reported.

(8) Report concerning waste treatment facility.--Under the

circumstances described in paragraph (9) of section one hundred six, the

tax may be assessed within three years after the filing of the return

containing the information required by such paragraph.

(9) Report of change or corrected sales and compensating use tax

liability.--If the taxpayer files a report or amended return or report

required under section one hundred twenty-seven-A, in respect of a

change or correction of sales and compensating use tax liability, the

assessment (if not deemed to have been made upon the filing of the

report) may be made at any time within two years after such report or

amended return or report was filed. The amount of such assessment of tax

shall not exceed the amount of the increase in city tax attributable to

such state change or correction. The provisions of this paragraph shall

not affect the time within which or the amount for which an assessment

may otherwise be made.

(d) Omission of income on return.--The tax may be assessed at any time

within six years after the return was filed if (1) a taxpayer omits from

his city unincorporated business gross income an amount properly

includible therein which is in excess of twenty-five per centum of the

amount of city unincorporated business gross income stated in the

return, or (2) an estate or trust omits income from its return in an

amount in excess of twenty-five per cent of its income determined as if

it were an individual.

For purposes of this subdivision there shall not be taken into account

any amount which is omitted in the return if such amount is disclosed in

the return, or in a statement attached to the return, in a manner

adequate to apprise the director of finance of the nature and amount of

such item.

(e) Suspension of running of period of limitation.--The running of the

period of limitations on assessment or collection of tax or other amount

(or of a transferee's liability) shall, after the mailing of a notice of

deficiency, be suspended for the period during which the director of

finance is prohibited under subdivision (c) of section one hundred

twenty-nine from making the assessment or from collecting by levy.