288-A - Jeopardy assessments.

§ 288-a. Jeopardy assessments. If the tax commission believes that the  collection  of any tax will be jeopardized by delay it may determine the  amount of such tax and assess the same, together with all  interest  and  penalties  provided  by law, against any person liable therefor prior to  the filing of his return and prior  to  the  date  when  his  return  is  required  to  be  filed.  The  amount so determined shall become due and  payable to the tax commission by the person against whom such a jeopardy  assessment is made, as soon as notice thereof is given to him personally  or by registered or  certified  mail.  The  provisions  of  section  two  hundred   eighty-eight   of   this  article  shall  apply  to  any  such  determination except to the extent that they may  be  inconsistent  with  the  provisions  of  this  section.  The  tax commission shall abate any  jeopardy assessment if it  finds  that  jeopardy  does  not  exist.  The  collection  of  any jeopardy assessment may be stayed by filing with the  tax commission a bond issued by a surety company authorized to  transact  business  in  this state and approved by the superintendent of insurance  as to solvency and responsibility, or such other security acceptable  to  the  tax commission, conditioned upon payment of the amount assessed and  interest thereon, or any lesser amount to which such assessment  may  be  reduced  by  the  tax  commission  or  by  a  proceeding  under  article  seventy-eight of the civil practice law and rules as provided in section  two hundred eighty-eight of this article, such payment to be  made  when  the assessment or any such reduction thereof shall have become final and  not  subject to further review. If such a bond is filed and thereafter a  proceeding under article  seventy-eight  is  commenced  as  provided  in  subdivision  five  of  section two hundred eighty-eight of this article,  deposit of the taxes, penalties  and  interest  assessed  shall  not  be  required   as   a  condition  precedent  to  the  commencement  of  such  proceeding. Where a jeopardy assessment is made, any property seized for  the collection of the tax shall not be sold (1) until expiration of  the  time  to  apply  for  a  hearing  as  provided  in  section  two hundred  eighty-eight of this article, and (2)  if  such  application  is  timely  filed,  until the expiration of four months after the tax commission has  given notice of  its  determination  to  the  person  against  whom  the  assessment  is made; provided, however, such property may be sold at any  time if such person has failed to attend a hearing of which he has  been  duly  notified,  or if he consents to the sale, or if the tax commission  determines that  the  expenses  of  conservation  and  maintenance  will  greatly reduce the net proceeds, or if the property is perishable.