§ 11-1930 Interest on overpayment.
AC § 11-1930
(a)General. Notwithstanding the provisions of section three-a of the general municipal law, interest shall be allowed and paid as follows at the appropriate rates prescribed for overpayments of tax under chapter seventeen of this title upon any overpayment in respect of the tax imposed by this chapter: (1) from the date of the overpayment to the due date of an amount against which a credit is taken; or (2) from the date of the overpayment to a date (to be determined by the commissioner) preceding the date of a refund check by not more than thirty days, whether or not such refund check is accepted by the taxpayer after tender of such check to the taxpayer. The acceptance of such check shall be without prejudice to any right of the taxpayer to claim any additional overpayment and interest thereon. No interest shall be allowed or paid if the amount thereof is less than one dollar.
(b)Advance payment of tax, payment of estimated tax, and credit for tax withholding. The provisions of subdivisions (g), (h) and (i) of section 11-1929 of this subchapter applicable in determining the date of payment of tax for purposes of determining the period of limitations on credit or refund, shall be applicable in determining the date of payment for purposes of this section.
(c)Refund within three months of due date of tax. If any overpayment of tax imposed by this chapter is refunded within three months after the last date prescribed (or permitted by extension of time) for filing the return of such tax or within three months after the return was filed, whichever is later, no interest shall be allowed under this section on such overpayment.
(d)Cross-reference. For provision terminating interest after failure to file notice of federal or New York state change under section 11-1922 of this chapter, see subdivision (c) of 11-1929 of this subchapter.
