N.Y. Comp. Codes R. & Regs. tit. 20 § 485.1

Current through Register Vol. 46, No. 50, December 11, 2024

Section 485.1 - Revision of returns

Tax Law, § 510

(a) If in the opinion of the State Tax Commission the return of any taxpayer is insufficient or incorrect, the State Tax Commission may determine the amount of tax due from such information as is available. Such determination shall be made within four years from the time the return was filed. If no return has been filed or if a willfully false or fraudulent return has been filed, the determination may be made at any time.

(b) The commission may examine the books and records of the carrier, take testimony and require proof, material for its information for the purpose of determining the tax.

(c) After notice of the determination of tax is given the taxpayer, the determination becomes final, unless the Tax Commission of its own motion shall redetermine the same, or unless the taxpayer requests a hearing at which time he may submit such further information as he deems advisable. The application for a hearing must be made in writing and must be made within 30 days from the mailing of the determination of tax. After the hearing, the State Tax Commission will notify the taxpayer, in writing, of its decision.

N.Y. Comp. Codes R. & Regs. Tit. 20 § 485.1