Sec. 21-4.1. Time for filing returns

Tax Law, § 1462(a)

(a) Returns must be filed at the times set forth in this subdivision.

(1) Every calendar-year taxpayer must file its return on or before the 15th day of March following the close of its calendar year.

(2) Every fiscal-year taxpayer must file its return on or before the 15th day of the third month following the close of its fiscal year.

Example 1:

A corporation selects the fiscal year basis of reporting and uses September 30th as the last day of its fiscal year. Its return must be filed on or before December 15th.

(3) Every taxpayer using a 52-53-week accounting period must file its annual return on or before the 15th day of the third month following the date on which its fiscal year is deemed to have ended. A 52-53-week accounting period which ends within seven days from the last day of any calendar month will be deemed to have ended on the last day of such month (see section 17-1.4 of this Title—52-53-week fiscal year taxpayers).

Example 2:

A corporation selects a 52-53-week accounting period ending on the Wednesday nearest the last day of November. In 1998, the Wednesday nearest the last day of November is Wednesday, December 2nd. The accounting period is deemed to have ended on the last day of November and its return must be filed on or before February 15, 1999.

(4)

(i) Where a taxpayer not part of a Federal consolidated group becomes part of such a group on a day other than the first day of its Federal taxable year (determined without reference to its membership in such group), such taxpayer is required to filed a Federal short period return for the period from the first day of its taxable year through the end of the day on which it becomes such a member. (26 CFR 1.1502-76[b].) Section 21-1.2(e) of this Part requires, in such an instance, that the taxpayer file a short period return for purposes of article 32 of the Tax Law covering the period covered by such Federal short period return (to the extent that it is subject to article 32 during such period). Where the due date for such Federal short period return is established pursuant to 26 CFR 1.1502-76(c)(1), or where such Federal short period return is required pursuant to 26 CFR 1.1502-76(c)(2) to be filed on or before the 15th day of the third month following the close of what would have been the taxpayer's Federal taxable year, determined without regard to such membership, then the due date for such article 32 short period return shall be the due date for such Federal short period return. This provision does not apply in the case of Federal amended short period returns described in 26 CFR 1.1502.76(c)(2). The due date for the article 32 amended return, for the same short period covered by such Federal amended return (to the extent that it is subject to article 32 during such period), is prescribed by section 21-1.4 of this Part.

(ii) Where a taxpayer ceases to be part of a Federal consolidated group, including the case where it leaves one Federal consolidated group to join another, an article 32 short period return is required to be filed by section 21-1.2(e) or (f) of this Part, covering the period from the beginning of its taxable year for article 32 purposes up to the date it leaves the group. Such return shall be filed on or before the 15th day of the third month following the close of its taxable year under article 32 determined without regard to its cessation of membership in such Federal consolidated group.

(5) In the case of an election made pursuant to section 338 of the Internal Revenue Code, the old target (within the meaning of 26 CFR 1.338-1[c][13]) may be required to file a final return which is a short period return. In such event, such corporation, if a taxpayer, must file a short period return for purposes of article 32 of the Tax Law covering the same period as the Federal short period return (to the extent that it is subject to article 32 during such period). Such return shall be filed by the due date for the Federal short period return as prescribed by 26 CFR 1.338-1(e)(6), except that this provision shall not apply to an amended return described in 26 CFR 1.338-1(e)(6)(ii)(D). The due date for the article 32 amended return, for the same short period covered by such Federal amended return (to the extent that it is subject to article 32 during such period), is prescribed by section 21-1.4 of this Part.

(6) In the case of an S corporation termination year, the S short year and the C short year are treated as short taxable years but the due date of the return for the S short year is the same as the due date of the return for the C short year.