280. Refund of tax erroneously paid. If any stamp or stamps shall have been erroneously affixed to any book, certificate, or bill or memorandum of sale, or if any tax provided by this article shall be erroneously paid otherwise than by the use of a stamp or stamps, the tax commission may, upon presentation of a claim for the amount of such stamp or stamps, or tax, and upon the production of evidence satisfactory to it that such stamp or stamps was or were so erroneously affixed, or such tax was so erroneously paid, so as to cause loss to the person or persons making such claim, pay such amount or such part thereof as it may allow, to such claimant out of any moneys collected under this article. Provided, however, that where such erroneous payment was made otherwise than by the use of stamps pursuant to the provisions of section two hundred eighty-one-a hereof, and resulted from payment of tax in excess of the amount due under subdivision two of section two hundred seventy-a of this chapter in lieu of the presentation of a claim for refund an adjustment for such erroneous payment may be made on the written report required to be made to the exchange, affiliated clearing corporation or authorized agency if such adjustment is made on such a written report filed within thirty business days following such erroneous payment, in such form and with such substantiating evidence as the tax commission may prescribe and provided further that at the time of the making of such adjustment the person, firm, company or association making such report has either paid to the person or persons erroneously charged with such tax the amount of such overpayment or has applied such amount in reduction of any amount owing to it from the person or persons so charged. Any claim for refund shall be presented to the tax commission in writing, duly verified, and shall state the full name and address of the claimant, the date of such erroneous affixing, or other payment of the tax, the face value of such stamp or stamps, or the amount of such tax, as the case may be, and contain such evidence as may be available upon which the demand for such refund is based. If the claim is based on the erroneous affixing of a stamp or stamps the claim shall describe the instrument to which the stamp or stamps were affixed. Such claims shall be presented within two years after such erroneous affixing or payment, as the case may be, except if an agreement under the provisions of section two hundred seventy-nine-a (extending the period for determination of tax imposed by this article) is made within the two-year period for the filing of a claim for refund provided for in this section, the period for filing a claim for refund shall not expire prior to six months after the expiration of the period within which a determination may be made pursuant to the agreement or any extension thereof. The tax commission shall grant or deny such claim in whole or in part and shall notify the claimant by mail of its determination. Such determination shall be final and irrevocable unless the claimant shall within thirty days after the mailing of notice of such determination apply to the tax commission for a hearing. After such hearing the tax commission shall mail notice of its decision to the claimant. The decision of the tax commission may be reviewed under article seventy-eight of the civil practice law and rules if a proceeding under that article is commenced within ninety days after the mailing of the notice of such decision. However, such a proceeding may not be commenced unless an undertaking is filed with the tax commission in such amount and with such sureties as a justice of the supreme court shall approve to the effect that if the proceeding be dismissed or the decision confirmed the petitioner will pay all costs and charges which may accrue against him in the prosecution of the proceeding. The remedy provided by this section for review of the decision of the tax commission shall be the exclusive remedy available to judicially determine the liability for taxes under this article.
Last modified: February 3, 2019