301-G - Restructured tax surcharge.
§ 301-g. Restructured tax surcharge. (a) Imposition of tax surcharge. In addition to the taxes imposed by sections three hundred one-a, three hundred one-e, three hundred one-h, three hundred one-i and three hundred one-j of this article, for taxable months commencing on or after September first, nineteen hundred ninety up to and including the month of May, nineteen hundred ninety-four, there is hereby imposed a tax surcharge for each or any part of a taxable month at the rate of fifteen percent of the applicable rate of tax imposed by such sections three hundred one-a, three hundred one-e, three hundred one-h, three hundred one-i and three hundred one-j of this article with respect to the products included in each component of such taxes imposed by such sections, to be computed on a per quantity basis (rounded to the nearest hundredth cent per quantity), provided that such tax surcharge shall not be imposed with respect to kero-jet fuel included in the kero-jet fuel component under subdivision (c) of section three hundred one-e for taxable months beginning prior to July first, nineteen hundred ninety-one. Provided further, for taxable months commencing on or after June first, nineteen hundred ninety-four up to and including the month of May, nineteen hundred ninety-five, there is hereby imposed a tax surcharge for each or any part of a taxable month at the rate of twelve and one-half percent of the applicable rate of tax imposed by such sections three hundred one-a, three hundred one-e, three hundred one-h, three hundred one-i and three hundred one-j of this article with respect to the products included in each component of such taxes imposed by such sections, to be computed on a per quantity basis (rounded to the nearest hundredth cent per quantity). Provided further, for taxable months commencing on or after June first, nineteen hundred ninety-five up to and including the month of May, nineteen hundred ninety-six, there is hereby imposed a tax surcharge for each or any part of a taxable month at the rate of seven and one-half percent of the applicable rate of tax imposed by such sections three hundred one-a, three hundred one-e, three hundred one-h, three hundred one-i and three hundred one-j of this article with respect to the products included in each component of such taxes imposed by such sections, to be computed on a per quantity basis (rounded to the nearest hundredth cent per quantity). Provided, further, for taxable months commencing on or after June first, nineteen hundred ninety-six up to and including the month of May, nineteen hundred ninety-seven, there is hereby imposed a tax surcharge for each or any part of a taxable month at the rate of two and one-half percent of the applicable rate of tax imposed by such sections three hundred one-a, three hundred one-e, three hundred one-h, three hundred one-i and three hundred one-j of this article with respect to the products included in each component of such taxes imposed by such sections, to be computed on a per quantity basis (rounded to the nearest hundredth cent per quantity). Provided, further, however, for purposes of imposition of the tax surcharge with respect to the tax imposed by section three hundred one-h of this article, the rate of the surcharge applicable to any calendar quarter during which the rate of the tax surcharge changes in accordance with the first three sentences of this subdivision shall be the average of the rates otherwise applicable pursuant to such first three sentences for each month of such calendar quarter. In the case of a taxpayer who files returns and pays taxes under article twenty-one or article twenty-one-A of this chapter, as the case may be, on an annual or other basis other than monthly or quarterly, for purposes of imposition of the tax surcharge with respect to the tax imposed by section three hundred one-h of this article, the rate of surcharge for a return period which would include a change in such rate but for this sentence shall be, in the case of taxpayers filing on an annual basis,equal to the sum of the respective rates otherwise applicable under this subdivision in each month of the return period divided by the number of months in the return period, and, in the case of a taxpayer filing on other than a monthly, quarterly or annual basis, equal to the sum of the respective rates otherwise applicable under this subdivision on each of the days of the return period divided by the number of days in the return period. (b) Credit, refund or reimbursement. (1) Utility credit or reimbursement. In addition to the credit allowed pursuant to section three hundred one-d and section three hundred one-i of this article, an electric corporation shall be allowed a credit against the tax surcharge imposed by this section, except as such surcharge is imposed with respect to the tax imposed by section three hundred one-j of this article. The credit shall be allowed with respect to the quantity of product for which credit is allowed pursuant to section three hundred one-d or three hundred one-i of this article and which has been included in the measure of the surcharge imposed by this section on such electric corporation. The amount of credit shall be equal to the amount of surcharge imposed by this section with respect to the tax imposed by sections three hundred one-a and three hundred one-i of this article with respect to such eligible quantity of product. The credit shall be applied against liability for surcharge under this section for the period during which the credit arose. Any excess may then be applied to liability for the surcharge under this section for subsequent periods. In addition to the reimbursement allowed pursuant to sections three hundred one-d and three hundred one-i of this article, an electric corporation shall be allowed a reimbursement with respect to the quantity of product for which reimbursement is allowed pursuant to such section three hundred one-d or three hundred one-i of this article and which has been included in the measure of the surcharge imposed by this section with respect to such sections three hundred one-a and three hundred one-i. The amount of the reimbursement shall be equal to the amount of the surcharge imposed by this section and passed through to such electric corporation with respect to such eligible quantity of product. Such reimbursement may be applied for not more often than monthly. An electric corporation entitled to reimbursement under this section, in lieu of such reimbursement, may take credit therefor on a return filed under this article. (2) Manufacturing credit or reimbursement. On and after September first, nineteen hundred ninety-one, there shall be allowed a credit against or a reimbursement of the tax surcharge imposed under this section relative to the tax imposed under section three hundred one-j of this article with respect to the quantity of diesel motor fuel (unenhanced) and residual petroleum product which is purchased on and after such date and which qualifies for the manufacturing reimbursement (credit) under subdivision (b) of section three hundred one-j of this article. The amount of the credit or reimbursement shall be equal to the tax surcharge imposed with respect to such section three hundred one-j. Such reimbursement may be applied for not more often than semi-annually. (3) Partial credit, refund or reimbursement with respect to aviation gasoline. (i) A partial credit or refund of the tax surcharge paid under this section relative to the tax imposed with respect to aviation gasoline under sections three hundred one-e and three hundred one-j of this article shall be available with respect to aviation gasoline which qualifies for the partial credit or refund under paragraph two of subdivision (b) of section three hundred one-e of this article. The amount of the credit or refund shall be equal to the tax surcharge imposed (A) with respect to the partial credit or refund allowed underparagraph two of subdivision (b) of section three hundred one-e of this article and (B) with respect to the credit or refund allowed under paragraph two of subdivision (b) of section three hundred one-j of this article. (ii) A partial reimbursement of the tax surcharge paid under this section relative to the tax imposed with respect to aviation gasoline under sections three hundred one-e and three hundred one-j of this article shall be available with respect to aviation gasoline which qualifies for the partial reimbursement under paragraph three of subdivision (d) of section three hundred one-e of this article and for which no partial credit or refund under subparagraph (i) of this paragraph was provided. The amount of the reimbursement shall be equal to the tax surcharge imposed (A) with respect to the partial reimbursement allowed under paragraph three of subdivision (d) of section three hundred one-e of this article and (B) with respect to the reimbursement allowed under subparagraph (ii) of paragraph two of subdivision (b) of section three hundred one-j of this article. (4) The commissioner shall require such documentary proof to qualify for any credit, refund or reimbursement of tax provided under this subdivision as the commissioner deems appropriate. (c) Deposit and disposition of revenue. Any provision of this article to the contrary notwithstanding, the full amount of any tax surcharge, as well as interest and penalties relating thereto, collected or received by the commissioner of taxation and finance under this section shall be deposited and disposed of pursuant to the provisions of section one hundred seventy-one-a of this chapter.