# N.Y. TAX Law § 991: Interest accrual relief for additional tax attributable to newly-discovered abandoned property

> New York · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_NY_ATAX_A26_P4_S991

## Section

- **Citation:** N.Y. TAX Law § 991
- **Heading:** Interest accrual relief for additional tax attributable to newly-discovered abandoned property
- **Jurisdiction:** New York
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** New York Code / Act TAX / Article 26 / Part 4 / Section 991

## Text

§ 991. Interest accrual relief for additional tax attributable to\nnewly-discovered abandoned property. Notwithstanding any other provision\nof law, in computing the interest due on an addition to tax owed by an\nestate attributable to the inclusion in the estate's federal gross\nestate of an asset held by the comptroller as abandoned property, the\ncommissioner shall apply the interest rate used by the comptroller,\npursuant to section fourteen hundred five of the abandoned property law,\nin computing the interest due on such abandoned property while in the\ncomptroller's possession (including a zero rate if the comptroller did\nnot pay interest on such property) if, as of the date prescribed for the\nfiling of a return required by this article, including any extensions\ngranted for filing, information pertaining to the asset had not yet\nappeared in the public records of abandoned property required to be\nmaintained by the comptroller pursuant to section fourteen hundred one\nof the abandoned property law.\n

## Nearby sections

- [N.Y. TAX Law § 990 Applicability of other tax law provisions](https://www.frixlaw.com/law-library/statutes/STATE_NY_ATAX_A26_P4_S990.md)
- [N.Y. TAX Law § 991 Interest accrual relief for additional tax attributable to newly-discovered abandoned property](https://www.frixlaw.com/law-library/statutes/STATE_NY_ATAX_A26_P4_S991.md)
- [N.Y. TAX Law § 992 Addition to tax in the case of valuation understatement](https://www.frixlaw.com/law-library/statutes/STATE_NY_ATAX_A26_P4_S992.md)
- [N.Y. TAX Law § 994 Secrecy requirement and penalties for violation](https://www.frixlaw.com/law-library/statutes/STATE_NY_ATAX_A26_P4_S994.md)
- [N.Y. TAX Law § 997 Extensions of time for payment of estate tax where estate consists largely of interest in closely held businesses](https://www.frixlaw.com/law-library/statutes/STATE_NY_ATAX_A26_P4_S997.md)
- [N.Y. TAX Law § 998 Petition to the surrogate's court and appeal](https://www.frixlaw.com/law-library/statutes/STATE_NY_ATAX_A26_P4_S998.md)
- [N.Y. TAX Law § 999 Deposit and disposition of revenue](https://www.frixlaw.com/law-library/statutes/STATE_NY_ATAX_A26_P4_S999.md)
- [N.Y. TAX Law § 999-A Appendix to article twenty-six](https://www.frixlaw.com/law-library/statutes/STATE_NY_ATAX_A26_P4_S999-A.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_NY_ATAX_A26_P4_S991. Check the current official text before relying on it. Not legal advice.