N.Y. General City Model 772/66 § 84: Transferees

§ 84. Transferees. 1. General.--The liability, at law or in equity,

of a transferee of property of a taxpayer for any tax, additions to tax,

penalty or interest due the director of finance under this part or under

the named parts, shall be assessed, paid, and collected in the same

manner and subject to the same provisions and limitations as in the case

of the tax to which the liability relates, except that the period of

limitations for assessment against the transferee shall be extended by

one year for each successive transfer, in order, from the original

taxpayer to the transferee involved, but not by more than three years in

the aggregate. The term transferee includes, in case of successive

transfers, donee, heir, legatee, devisee, distributee, and successor by

merger, consolidation or other reorganization.

2. Exceptions.--

(a) If before the expiration of the period of limitations for

assessment of liability of the transferee, a claim has been filed by the

director of finance in any court against the original taxpayer or the

last preceding transferee based upon the liability of the original

taxpayer, then the period of limitation for assessment of liability of

the transferee shall in no event expire prior to one year after such

claim has been finally allowed, disallowed or otherwise disposed of.

(b) If, before the expiration of the time prescribed in subdivision

one or the immediately preceding paragraph of this subdivision for the

assessment of the liability, the director of finance and the transferee

have both consented in writing to its assessment after such time, the

liability 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. For the purpose of determining the period

of limitation on credit or refund to the transferee or overpayments of

tax made by such transferee or overpayments of tax made by the

transferor as to which the transferee is legally entitled to credit or

refund, such agreement and any extension thereof shall be deemed an

agreement and extension thereof referred to in subdivision two of

section seventy-eight. If the agreement is executed after the expiration

of the period of limitation for assessment against the original

taxpayer, then in applying the limitations under subdivision two of

section seventy-eight on the amount of the credit or refund, the periods

specified in subdivision one of section seventy-eight shall be increased

by the period from the date of such expiration to the date of the

agreement.

3. Period for assessment against certain transferors.--For purposes of

this section, if any person is deceased or is a corporation which has

terminated its existence, the period of limitation for assessment

against such person or corporation shall be the period that would be in

effect had death or termination of existence not occurred.

4. Evidence.--The director of finance shall use his powers to make

available to the transferee evidence necessary to enable the transferee

to determine the liability of the original taxpayer and of any preceding

transferees, but without undue hardship to the original taxpayer or

preceding transferee. See subdivision three of section eighty for rule

as to burden of proof.