New York Codes, Rules and Regulations
Title 20 - DEPARTMENT OF TAXATION AND FINANCE
Chapter IV - Sales And Use And Other Miscellaneous Taxes
Subchapter D - Mortgage Recording Taxes
Part 654 - Refunds
Section 654.5 - Interest
Current through Register Vol. 46, No. 12, March 20, 2024
Tax Law, § 263
(a) Where the refund check is issued by the recording officer more than 90 days after the date that the application for such refund is received by the commissioner in processible form, interest amounting to $1 or more shall be allowed upon such refund.
(b) Where interest is to be paid on a refund as provided in subdivision (a) of this section, such interest shall accrue at the applicable rate as described in Part 653 of this Title, for each month or a fraction of a month for the period from the date the application for refund is received by the commissioner in processible form to a date preceding the date of the refund check by not more than 30 days.
