N.Y. TAX Law § 1516

§ 1516. Payment of tax. (a) To the extent the tax imposed by this\narticle shall not have been previously paid pursuant to section fifteen\nhundred fourteen,\n (1) each such tax, or the balance thereof, shall be payable to the tax\ncommission in full at the time the taxpayer's return is required to be\nfiled, and\n (2) each such tax, or the balance thereof, imposed on any taxpayer\nwhich ceased to exercise its franchise or to be subject to the tax\nimposed by this article shall be payable to the tax commission at the\ntime the return is required to be filed, provided each such tax of a\ndomestic corporation which continues to possess its franchise shall be\nsubject to adjustment as the circumstances may require; all other taxes\nof any such taxpayer, which pursuant to the foregoing provisions of this\nsubdivision would otherwise be payable subsequent to the time such\nreturn is required to be filed, shall nevertheless be payable at such\ntime.\n (b) If the taxpayer, within the time prescribed by subdivision (c) of\nsection fifteen hundred fifteen, shall have applied for an automatic\nextension of time to file its annual return and shall have paid to the\ncommissioner of taxation and finance on or before the date such\napplication is filed an amount properly estimated as provided by said\nsubdivision, the only amount payable in addition to the tax shall be\ninterest at the underpayment rate set by the commissioner pursuant to\nsubsection (e) of section one thousand ninety-six or, if no rate is set,\nat the rate of six percent per annum upon the amount by which the tax,\nor portion thereof payable on or before the date the return was required\nto be filed, exceeds the amount so paid. For the purposes of the\npreceding sentence,\n (1) an amount so paid shall be deemed properly estimated if it is\neither (i) not less than ninety percent of the tax as finally\ndetermined, or (ii) not less than the tax shown on the taxpayer's return\nfor the preceding taxable year, if such preceding year was a taxable\nyear of twelve months; and\n (2) the time when a return is required to be filed shall be determined\nwithout regard to any extension of time for filing such return.\n (c) The tax commission may grant a reasonable extension of time for\npayment of any tax imposed by this article under such conditions as it\ndeems just and proper.\n