New York Laws
Article 27 - Corporate Tax Procedure and Administration
1086 - Overpayment.

(b) Credits against estimated tax.---The commissioner may prescribe
regulations providing for the crediting against the estimated tax under
article nine-a for any taxable year of the amount determined to be an
overpayment of tax under such article for a preceding taxable year. If
any overpayment of tax is so claimed as a credit against estimated tax
for the succeeding taxable year, such amount shall be considered as a
payment of the tax under article nine-a of this chapter for the
succeeding taxable year (whether or not claimed as a credit in the
declaration of estimated tax for such succeeding taxable year), and no
claim for credit or refund of such overpayment shall be allowed for the
taxable year for which the overpayment arises, except upon request to
the commissioner on or before the last day prescribed for the filing of
the return for the succeeding taxable year, determined with regard to
any extension of time granted. If good cause is shown for reversing the
credit, the commissioner may, in his or her discretion, credit the
overpayment against a liability or refund the overpayment without
interest. Provided, the person who made the overpayment will not be
relieved of liability for any penalty imposed for a consequent
underpayment of estimated tax for the succeeding taxable year. The
decision of the commissioner to grant or deny the request is final and
not subject to further administrative or judicial review.
(c) Rule where no tax liability.---If there is no tax liability for a
period in respect of which an amount is paid as tax, such amount shall
be considered an overpayment.
(d) Assessment and collection after limitation period.---If any amount
of tax is assessed or collected after the expiration of the period of
limitations properly applicable thereto, such amount shall be considered
an overpayment.
(e) Assignment of overpayment.---A credit for an overpayment of tax
under article nine, nine-a, nine-b or nine-c may be assigned by the
taxpayer to a corporation liable to pay taxes under any of such
articles, and the assignee of the whole or any part of such credit, on
filing such assignment with the tax commission, shall thereupon be
entitled to credit upon the books of the tax commission for the amount
thereof on its current account for taxes, in the same manner and to the
same effect as though the credit had originally been allowed in its
favor.