New York S05916 mandates the Department of Taxation and Finance to issue tax refunds within 30 days of receiving a tax return, with interest at 6%.

New York S05916 amends the tax law to require the Department of Taxation and Finance to issue tax refunds within 30 days of receiving a taxpayer's tax return. If there is a discrepancy in the return, the department must notify the taxpayer of the specific issue and the expected resolution date. Failure to comply with these refund and notice requirements results in the department paying interest on the refund owed at a rate of 6% per annum. This act takes effect immediately upon enactment.

New York S05916 mandates the Department of Taxation and Finance to issue tax refunds within 30 days of receiving a tax return, with interest at 6%.

New York S05916 amends the tax law to require the Department of Taxation and Finance to issue tax refunds within 30 days of receiving a taxpayer's tax return. If there is a discrepancy in the return, the department must notify the taxpayer of the specific issue and the expected resolution date. Failure to comply with these refund and notice requirements results in the department paying interest on the refund owed at a rate of 6% per annum. This act takes effect immediately upon enactment.