§ 377 amended. not more than one thousand dollars, to be recovered by the attorney-general in the name of the people by action in any court of competent jurisdiction. 4. Any individual, corporation or partnership, or any officer or employee of any corporation, or member or employee of any partnership, who, with intent to evade any tax or any requirement of this article or any lawful requirement of the comptroller thereunder, shall fail to pay the tax, or to make, render, sign or verify any return, or to supply any information, within the time required by or under the provisions of this article, or who, with like intent, shall make, render, sign or verify any false or fraudulent return or statement, or shall supply any false or fraudulent information, shall be liable to a penalty of not more than one thousand dollars, to be recovered by the attorney-general, in the name of the people, by action in any court of competent jurisdiction, and shall also be guilty of a misdemeanor and shall, upon conviction, be fined not to exceed one thousand dollars or be imprisoned not to exceed one year, or both, at the discretion of the court. 5. The attorney-general shall have the power, with the consent of the comptroller, to compromise any penalty for which he is authorized to bring action under subdivisions three and four of this section. The penalties provided by subdivisions three and four of this section shall be additional to all other penalties in this article provided. 6. The failure to do any act required by or under the provisions of this article shall be deemed an act committed in part at the office of the comptroller in Albany. The certificate of the comptroller to the effect that a tax has not been paid, that a return has not been filed, or that information has not been supplied, as required by or under the provisions of this article, shall be prima facie evidence that such tax has not been paid, that such return has not been filed, or that such information has not been supplied. § 3. Section three hundred and seventy-seven1 of chapter sixtytwo of the laws of nineteen hundred and nine, entitled "An act in relation to taxation, constituting chapter sixty-two of the consolidated laws," is hereby amended to read as follows: 377. When payable. 1. Each taxpayer shall, or in cases where an agent or a guardian or other fiduciary makes return for the taxpayer on whose behalf he is acting, then the agent, guard 1 As added by L. 1919, ch. 627. ian or other fiduciary shall,2 at the time of filing his return, pay to the comptroller the amount of tax payable hereunder as the same shall appear from the face of the return. If the time for filing the return shall be extended, he shall pay in addition interest thereon at the rate of six per centum per annum from the time when the return was originally required to be filed to the time of payment. If the time for filing a return by a withholding agent shall be extended, the withholding agent shall pay, and may not charge to the taxpayer, interest at the rate of six per centum per annum from the time when the return was originally required to be filed to the time of payment. 2. As soon as practicable after the return is filed, the comptroller shall examine it and compute the tax. 3. If the amount of tax as computed shall be greater than the amount theretofore paid, the excess shall be paid by the taxpayer to the comptroller within ten days after the amount of the tax as computed shall be mailed by the comptroller. In such case, if the return is made in good faith and the understatement of the amount in the return is not due to any fault of the taxpayer, there shall be no penalty or additional tax because of such understatement, but interest shall be added to the amount of the deficiency at the rate of one per centum for each month or fraction of a month. If the understatement is due to negligence on the part of the taxpayer but without intent to defraud, there shall be added to the amount of the deficiency five per centum thereof, and in addition, interest at the rate of one per centum per month for each month or fraction of a month. If the understatement is false or fraudulent with intent to evade the tax, the tax on the additional income discovered to be taxable shall be doubled and an additional one per centum shall be added to the amount so due for each month or fraction of a month. The interest provided for in this subdivision shall in all cases be computed from the date the tax was originally due to the date of payment. 4. If the amount of tax as computed shall be less than the amount theretofore paid, the excess shall be refunded by the comptroller out of the proceeds of the tax retained by him as provided in this article. 2 Words "or in cases where an agent or a guardian or other fiduciary makes return for the taxpayer on whose behalf he is acting, then the agent, guardian or other fiduciary shall," new. 3 Following sentence new. 4 Formerly" thirty days." § 379, subd. 2, § 4. Subdivision two of section three hundred and seventy-nine as added by of chapter sixty-two of the laws of nineteen hundred and nine, L. 1919, ch. 627, amended. entitled "An act in relation to taxation, constituting chapter sixty of the consolidated laws," as added by chapter six hundred and twenty-seven of the laws of nineteen hundred and nineteen, is hereby amended to read as follows:6 2. The comptroller shall have power, upon making a record of his reasons therefor, to waive or reduce any of the additional taxes or interest provided in section three hundred and seventysix, subdivisions one and two, and section three hundred and seventy-seven, subdivision three, of this article, or to compromise the same. § 5. This act shall take effect immediately. L. 1909, ch. 62, § 360, subds. 2, 5, 6, 10, Chap. 693. AN ACT to amend the tax law, in relation to deductions in computing net income with respect to income taxes. Became a law May 10, 1920, with the approval of the Governor. Passed, three-fifths being present. The People of the State of New York, represented in Senate and Assembly, do enact as follows: Section 1. Subdivisions two, five, six and ten of section three hundred and sixty of chapter sixty-two of the laws of nineteen hundred and nine, entitled "An act in relation to taxation, conL. 1919, stituting chapter sixty of the consolidated laws," as added by chapter six hundred and twenty-seven of the laws of nineteen hundred and nineteen, are hereby amended to read as follows: as added by ch. 627, amended. Deductions. 2.1 All interest paid or accrued during the taxable year on indebtedness. 5. Losses sustained during the taxable year and not compensated for by insurance or otherwise, if incurred in any transac tion entered into for profit, though not connected with the trade or business; but in the case of a taxpayer other than a resident of the state, only as to such transactions in real property or in tangible personal property having an actual situs within the state. 6 Subdivision materially amended. 1 Subd. 2 materially amended. 2 Words “in real property or in tangible personal property having an actual situs," new. 6. Losses sustained during the taxable year of property not connected with the trade or business (but, in the case of a taxpayer other than a resident, only of real3 property or tangible personal property having an actual situs within the state) if arising from fires, storms, shipwrecks, or other casualty or from theft, and not compensated for by insurance or otherwise. 10. Contributions or gifts made within the taxable year to corporations or associations operated exclusively for religious, charitable, scientific or educational purposes, or for the prevention of cruelty to children or animals, no part of the net earnings of which inures to the benefit of any private stockholder or individual, or to the special fund for vocational rehabilitation authorized by section seven of the act of congress known as the vocational rehabilitation act, to an amount not in excess of fifteen per centum of the taxpayer's net income as computed without the benefit of this subdivision. Such contributions or gifts shall be allowable as deductions only if verified under rules and regulations prescribed by the comptroller. In the case of a taxpayer other than a resident of the state this deduction shall be allowed only as to contributions or gifts made to corporations or associations incorporated by or organized under the laws of this state or to the vocational rehabilitation fund above mentioned. 2. This act shall take effect immediately and be retroactive Retroto January first, nineteen hundred and twenty. active to Jan. 1, 1920. Chap. 694. AN ACT to amend the tax law, in relation to distribution of the income tax. Became a law May 10, 1920, with the approval of the Governor. Passed, three-fifths being present. The People of the State of New York, represented in Senate and Assembly, do enact as follows: Section 1. Section three hundred and eighty-two of chapter L. 1909, sixty-two of the laws of nineteen hundred and nine, entitled "An ch.92 3 Word "real" new. Words "or tangible personal property having an actual situs," new. 5 Words "incorporated by " omitted. Words "organized under, the laws of this state and," omitted. § 382, L. 1919, ch. 627, amended. as added by act in relation to taxation, constituting chapter sixty of the consolidated laws," as added by chapter six hundred and twentyseven of the laws of nineteen hundred and nineteen, is hereby amended to read as follows: 8382. Distribution of the income tax. Of the revenue collected under this article the comptroller shall retain in his hands sufficient to provide at all times a fund in his hands in the sum of two hundred and fifty thousand dollars out of which he shall pay any refunds to which taxpayers shall be entitled under the provisions of this article. Of the remainder, fifty per centum shall be paid into the state treasury to the credit of the general fund. The remaining fifty per centum thereof shall, not later than the first day of July, and in case of moneys subsequently collected at least quarterly thereafter, be distributed and paid to the treasurers of the several counties of the state, in the proportion that the assessed valuation of the real property of each county bears to the aggregate assessed valuation of the real property of the state. As to any county included in the city of New York such payment shall be made to the receiver of taxes in such city and be paid into the general fund for the reduction of taxation of the city of New York. The county treasurer shall apportion the amount so received among the several towns and cities within the county, except a city containing a part of a town, in proportion that the assessed valuation of the real property of each town or city bears to the aggregate assessed valuation of the real property of the county. The county treasurer shall pay the amount so apportioned to each city to the chief fiscal officer of the city to be paid into the general fund for city purposes; and in a county having a population of over three hundred thousand according to the last federal or state census and adjoining a city of the first class having a population of one million and upwards, the county treasurer shall pay the amount so apportioned to the supervisor of the town and such amount shall be by him credited to general town purposes, and such amounts shall not be apportioned as hereinafter provided. If a town does not contain any part of a city or village, the county treasurer shall pay the amount so apportioned to the town to the supervisor of the town and such amount shall be by him credited to general town purposes. If one or more incorporated villages or cities be wholly or partly within a town, the county treasurer shall divide the amount ap 1 Remainder of section materially amended. |