N.Y. Tax Law 990 – Applicability of other tax law provisions
§ 990. Applicability of other tax law provisions. (a) General. Except as otherwise provided in this article, all of the provisions of sections six hundred eighty-one through six hundred eighty-eight and six hundred ninety-one through six hundred ninety-seven of this chapter shall apply to the provisions of this article with the same force and effect as if the language of those sections had been incorporated in full into this article and had expressly referred to the tax under this article, except to the extent that any such provision is either inconsistent with or not relevant to this article and except as modified in subsection (b) of this section or with such other modifications as may be necessary to adapt the language of such provisions to the provisions of this article.
Terms Used In N.Y. Tax Law 990
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Donee: The recipient of a gift.
- executor: means the executor or administrator of the estate of the decedent, or, if there is no executor or administrator appointed, qualified and acting, then any person or entity in actual or constructive possession of any property of the decedent. See N.Y. Tax Law 951-A
- Executor: A male person named in a will to carry out the decedent
- Gross estate: The total fair market value of all property and property interests, real and personal, tangible and intangible, of which a decedent had beneficial ownership at the time of death before subtractions for deductions, debts, administrative expenses, and casualty losses suffered during estate administration.
- person: includes an individual, a trustee, a corporation, an association, a joint-stock company, a partnership, a limited liability company and a bank. See N.Y. Tax Law 951-A
- persons interested in the estate: shall include all persons who may be entitled to receive or who have received any property or interest which is required to be included in the gross estate of a decedent, or any benefit whatsoever with respect to any such property or interest, whether under a will, or intestacy, or by reason of any of the transfers, trusts, estates, interests, rights, powers and relinquishments of powers which are required to be included in the gross estate. See N.Y. Tax Law 951-A
(b) Modifications. Sections six hundred eighty-one through six hundred eighty-eight and six hundred ninety-one through six hundred ninety-seven shall be read as modified by this subsection.
(1) The phrase "income tax" shall be read as "estate tax".
(2) The phrases "income" and "taxable income" shall be read as "federal taxable estate".
(3) The phrase "section six hundred fifty-nine" shall be read as "section nine hundred seventy-nine".
(4) The phrase "federal income tax" shall be read as "federal estate tax".
(5) The phrase "taxable year" shall be read as "tax under this article".
(6) Subsection (d) of section six hundred eighty-three shall be read as follows: The tax may be assessed at any time within six years after the return was filed if an estate omits from its federal gross estate, federal taxable estate or New York gross estate an amount properly includible therein which is in excess of twenty-five percent of the amount stated in the return of the federal gross estate, federal taxable estate or New York gross estate.
(7) References to sections six hundred eighty-nine or six hundred ninety of this chapter shall be deemed references to section nine hundred ninety-eight; references to the hearing process shall be deemed references to the procedures under section nine hundred ninety-eight; references to the division of tax appeals or the tax appeals tribunal in relation to the administration of the hearing process shall be deemed references to the surrogate's court; and references to filing a petition shall be deemed references to commencing a special proceeding under section nine hundred ninety-eight.
(8) In subsection (e) of section six hundred eighty-three of this chapter, the following sentence is added: "The running of the period of limitation for the collection of any tax imposed by this article shall be suspended for the period of any extension of time for payment granted under the provisions of subsection (a) of section nine hundred seventy-six and section nine hundred ninety-seven of this article."
(9) In subsection (a) of section six hundred eighty-four of this chapter, the phrase "to the date paid" shall be read as "to the date paid, except as otherwise provided in subsection (j) of section nine hundred ninety-seven of this article".
(10) In subsection (k) of section six hundred eighty-five of this chapter, the reference to "subsection (b) of section six hundred fifty-eight" shall be read as "subsection (c) of section nine hundred seventy-seven of this article."
(11) In subsection (a) of section six hundred eighty-six of this chapter, the phrase "person who made the overpayment" shall mean "estate, persons interested in the estate or other person making the overpayment".
(12) In subsections (f) and (i) of section six hundred eighty-seven of this chapter, the phrases "for taxable year" and "for such year" shall be read as "in respect of the tax imposed by this article" and, in subsection (i) thereof, the phrase "the fifteenth day of the fourth month following the close of his taxable year" shall be read as "such last day, determined without regard to any extension of time granted".
(13) In subsection (b) of section six hundred ninety-one of this chapter, the term "address given in the last return filed by him" shall be read as "address given in the notice of qualification filed by the executor under subsection (d) of section nine hundred seventy-seven of this article".
(14) In section six hundred ninety-two of this chapter, the term "person" shall be read as "estate or any other person."
(15) In section six hundred ninety-three of this chapter, the term "transferee" shall include
(A) any donee, heir, testamentary beneficiary or distributee, and
(B) any other person who under section nine hundred seventy-five of this article is personally liable for any part of the tax imposed by this article, and
(C) an executor to the extent of his personal liability under section nine hundred seventy-five of this article for the tax imposed by this article;
and in subsection (d) of such section, the reference to subsection (e) of section six hundred ninety-seven of this chapter shall mean section nine hundred ninety-four of this article.