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jryan154
Returning Member

Amending NYS return; is the amount that I can be refunded "limited"?

I owed $350 on my 2020 NYS tax return. I accidentally omitted my "Start-Up NY" wages, which allows employees of eligible companies to be refunded on all NYS taxes withheld from their paycheck. Based on the IT-201X, I should be owed a refund of $3,500. However, from reading NY Tax L § 687 (2022), it says "the amount of the credit or refund shall not exceed the portion of the tax paid within the three years immediately preceding the filing of the claim."

 

Since I did not owe anything on my 2021 or 2022, or 2023 NY returns, does this mean I will only be refunded the $350 I originally paid?

 

 

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