Section 1455-A. Tax surcharge

(a)  In addition to the tax imposed under
  section fourteen hundred fifty-one of  this  article,  there  is  hereby
  imposed,  (1)  for  taxable  years ending after June thirtieth, nineteen
  hundred eighty-nine and before July first, nineteen  hundred  ninety,  a
  tax surcharge at the rate of two and one-half percent of the tax imposed
  under  section  fourteen  hundred  fifty-one  of  this  article,  before
  deduction of any credits against  tax  otherwise  allowable  under  this
  article  for  all  or  any  parts of such taxable years, (2) for taxable
  years ending after June thirtieth, nineteen hundred  ninety  and  before
  July  first,  nineteen  hundred  ninety-four,  and  until  such  rate is
  superseded, a tax surcharge at the rate of fifteen percent  of  the  tax
  imposed  under section fourteen hundred fifty-one of this article, after
  deduction of any credits against  tax  otherwise  allowable  under  this
  article,  (3)  for  taxable  years ending after June thirtieth, nineteen
  hundred ninety-four and before July first, nineteen hundred ninety-five,
  and until such rate is superseded, a tax surcharge at the  rate  of  ten
  percent  of  the tax imposed under section fourteen hundred fifty-one of
  this article, after deduction of any credits against the  tax  otherwise
  allowable  under  this  article, (4) for taxable years ending after June
  thirtieth, nineteen hundred ninety-five and before July first,  nineteen
  hundred  ninety-six,  and until such rate is superseded, a tax surcharge
  at the rate of five precent of the tax imposed  under  section  fourteen
  hundred  fifty-one  of  this  article,  after  deduction  of any credits
  against the tax otherwise allowable  under  this  article  and  (5)  for
  taxable  years  ending after June thirtieth, nineteen hundred ninety-six
  and before July first, nineteen hundred ninety-seven, a tax surcharge at
  the rate of zero percent of  the  tax  imposed  under  section  fourteen
  hundred  fifty-one  of  this  article,  after  deduction  of any credits
  against the tax otherwise allowable under this article. However, the tax
  surcharge imposed by this section  at  the  rate  of  two  and  one-half
  percent  shall  not  be  imposed  upon any taxpayer for more than twelve
  months, the tax surcharge imposed by this section at the rate of fifteen
  percent shall not be imposed upon any taxpayer for more than forty-eight
  months, and the tax surcharges imposed by this section at the  rates  of
  ten  percent,  five percent and zero percent shall not, respectively, be
  imposed  upon  any  taxpayer  for  more  than  twelve  months,  and  the
  commissioner  shall  prescribe by regulation or instructions a method of
  proration designed to effectuate such result. The  credits  against  tax
  otherwise  allowable  under  section  fourteen hundred fifty-six of this
  article shall not be allowed as  a  credit  against  the  tax  surcharge
  imposed by this section.
    (b)  (1)  The  provisions  concerning  returns  under section fourteen
  hundred sixty-two of this article shall be applicable to  this  section,
  except  that  for  purposes of an automatic extension for six months for
  filing a return  covering  the  taxes  imposed  by  this  article,  such
  automatic extension shall be allowed, for taxable years to which the tax
  surcharge  imposed  by this section apply, only if a taxpayer files with
  the commissioner an application  for  extension  in  such  form  as  the
  commissioner may prescribe and pays on or before the date of such filing
  in  addition  to  any other amounts required under this article, two and
  one-half percent, fifteen percent, ten percent,  five  percent  or  zero
  percent,  whichever  is the rate applicable to the taxable year pursuant
  to subsection (a) of this section, of the amount properly  estimated  as
  provided  in  subsection  (b) of section fourteen hundred sixty-three of
  this article as its tax payable under section fourteen hundred fifty-one
  of this article, before deduction of any credits against  tax  otherwise
  allowable  under  section fourteen fifty-six of this article in the case
  of the tax surcharge imposed at the rate of two  and  one-half  percent,

  and after deduction of any credits against tax otherwise allowable under
  section  fourteen  hundred  fifty-six of this article in the case of the
  tax surcharge imposed at the rate of fifteen, ten, five or zero percent.
  The  tax  surcharge  imposed  by  this  section  shall be payable to the
  commissioner in full at the time the return is required to be filed.
    (2)  Except  as  otherwise  provided  in  this  section,  all  of  the
  provisions   of  this  article,  except  for  section  fourteen  hundred
  fiftyfive-B, presently applicable are applicable to  the  tax  surcharge
  imposed  by  this section with such modifications as may be necessary to
  adapt such language to the tax surcharge imposed by this  section.  Such
  provisions  shall  apply  with  the  same  force  and effect as if those
  provisions had been set forth in full in  this  section  except  to  the
  extent  that  any  provision  is either inconsistent with a provision of
  this section or not relevant  to  the  tax  surcharge  imposed  by  this
  section  and  to that end a reference in this article to the tax imposed
  by section fourteen hundred fifty-one shall be read as  a  reference  to
  the  tax  surcharge  imposed by this section, and to the sum of such tax
  and such tax surcharge in the case of sections  fourteen  hundred  sixty
  and fourteen hundred sixty-one of this article and such other provisions
  requiring  such  reading  in  order  to  effectuate the purposes of this
  provision, unless a different meaning is clearly required.
    (c) Coordination with section fourteen hundred  fifty-five-B  of  this
  article.  The  amount  of tax surcharge imposed pursuant to this section
  shall not be included in any calculation  of  a  tax  surcharge  imposed
  pursuant to section fourteen hundred fifty-five-B of this article.
    (d)  Insofar  as  subsection (a) of this section establishes a rate of
  fifteen  percent  in  the  case  of  taxable  years  ending  after  June
  thirtieth,  nineteen  hundred  ninety  and  before  July first, nineteen
  hundred ninety-four and until such rate is superseded,  a  rate  of  ten
  percent  in  the  case  of  taxable  years  ending after June thirtieth,
  nineteen hundred ninety-four and before  July  first,  nineteen  hundred
  ninety-five and until such rate is superseded, a rate of five percent in
  the  case of taxable years ending after June thirtieth, nineteen hundred
  ninety-five and before July first, nineteen hundred ninety-six and until
  such rate is superseded, and a rate of  zero  percent  in  the  case  of
  taxable  years  ending after June thirtieth, nineteen hundred ninety-six
  and before July first, nineteen  hundred  ninety-seven,  the  transition
  from such rate of fifteen percent to such rate of ten percent, from such
  rate  of ten percent to such rate of five percent, and from such rate of
  five percent to such rate of zero percent, shall  be  deemed  to  occur,
  respectively,  on  the  first  day  of the seventh month of each of such
  taxable years, with the result that for purposes  of  implementation  of
  such changes in rates, and notwithstanding such subsection (a), there is
  hereby  imposed  with  respect  to  all  taxable years ending after June
  thirtieth, nineteen hundred ninety-four and before July first,  nineteen
  hundred  ninety-five,  including  taxable  years  of  fewer  than twelve
  months, a tax surcharge at the rate  of  twelve  and  one-half  percent;
  there  is  hereby imposed with respect to all taxable years ending after
  June thirtieth, nineteen hundred  ninety-five  and  before  July  first,
  nineteen  hundred  ninety-six,  including  taxable  years  of fewer than
  twelve months, a tax  surcharge  at  the  rate  of  seven  and  one-half
  percent;  and  there is hereby imposed with respect to all taxable years
  ending after June thirtieth, nineteen hundred ninety-six and before July
  first, nineteen hundred ninety-seven, including taxable years  of  fewer
  than  twelve  months,  a  tax  surcharge at the rate of two and one-half
  percent.  In  addition,  for  purposes  of  implementation  of  all  the
  provisions  of  this  section references to ten percent shall be read as
  references to twelve and one-half percent, references  to  five  percent

  shall be read as references to seven and one-half percent and references
  to zero percent shall be read as references to two and one-half percent.