§ 59-05 Applicable Tax Year for Credit.
RCNY § 59-05
a. Tax Year of Twelve Months. The following rules apply to a taxpayer with a 12-month tax year: 1. For a taxpayer, other than a 52/53 week taxpayer, whose 12-month tax year ends on or after December 31 and on or before September 29, the credit will be applied to the tax year in which the service year ends.
2.For a taxpayer, other than a 52/53 week taxpayer, whose 12-month tax year ends on or after September 30 and on or before December 30, the credit will be applied to the tax year immediately following the tax year in which the service year ends.
3.For a 52/53 week taxpayer whose tax year ends (i) on or after January 1 and on or before September 22 or (ii) within 7 days of December 31, the credit will be applied to the tax year in which the service year ends.
4.For a 52/53 week taxpayer whose tax year ends (i) on or after September 23 and on or before December 24 or (ii) within 7 days of September 30, the credit will be applied to the tax year immediately following the tax year in which the service year ends. b. Short Tax Year. The following rules apply to a taxpayer with a short tax year: 1. Except as provided in paragraphs (2) or (3) of this subdivision, for a taxpayer with a short tax year in which the service year concludes, the credit will be applied to such short tax year.
