N.Y. General City Model 772/66 § 34: Payment of tax

§ 34. Payment of tax. Each taxpayer shall, at the time of filing its

return, pay to the director of finance

(a) the amount of tax payable hereunder as the same shall appear from

the face of the return, or

(b) if payments of estimated tax have been made pursuant to section

thirty-five of this part, the balance, if any, of the tax payable

hereunder, as the same shall appear from the face of the return, after

applying thereto any payments made pursuant to said section.

If the time for filing the return shall be extended, the taxpayer shall

pay in addition interest at the rate of six percentum per annum from the

time when the return was originally required to be filed to the time of

payment upon the amount by which the tax, or the portion thereof payable

when the return was required to be filed, exceeds the amount then paid:

(1) a payment made on or before the date of filing of an application

for an automatic extension shall be deemed properly estimated if it is

either (A) not less than ninety percentum of the tax as finally

determined, or (B) not less than the tax shown on the taxpayer's return

for the preceding taxable year, if such preceding year was a taxable

year of twelve months; and

(2) the time when a return is required to be filed shall be determined

without regard to any extension of time for filing such return.