N.Y. General City Model 772/66 § 67: Payment of tax and penalties

§ 67. Payment of tax and penalties. 1. The taxes imposed by sections

sixty-one and sixty-two of this part shall be due and payable at the

time of filing the report required by section sixty-six, or, in case

such a report is not filed when due, on the last day specified for the

filing thereof, except that the tax upon dividends imposed by section

sixty-two of this part shall be due and payable at the time of filing

the report for the period ending June thirtieth, or, in case such report

is not filed when due, on the last day specified for the filing thereof.

2. Where an application for consent to dissolution, as provided by

section one hundred five of the stock corporation law or section one

thousand four of the business corporation law, is filed with the

director of finance prior to the commencement of any tax year or period,

by a corporation subject to tax under this part, such corporation shall

not be liable for any tax imposed by this part for such following year

or period (except as may be otherwise provided in section sixty-three),

provided that the certificate of dissolution for such corporation is

duly filed in the office of the secretary of state within twenty days

after the filing of such application.

3. Notwithstanding any other provision of this part, the director of

finance may grant a reasonable extension of time for payment of any tax

imposed by this part under such conditions as he deems just and proper.