1. (a) An automatic six-month extension of time for filing an annual return will be granted if the application for automatic extension (form CT-5) is filed and a properly estimated tax is paid on or before the due date of the return for the taxable period for which the extension is requested. (See section 1516[b][1] of the Tax Law for an amount deemed to be a properly estimated tax payment.) Failure to meet any of the requirements in this subdivision makes the application invalid and any return filed after the due date will be treated as a late filed return.

2. (b) An automatic six-month extension of time for filing a combined return will be granted to a group of corporations authorized to file a combined return provided the application for automatic extension (form CT-5) is filed and a properly estimated tax is paid on or before the due date of the return for the taxable period for which the extension is requested. (See section 1516[b][1] of the Tax Law for an amount deemed to be a properly estimated tax payment.) Failure to meet any of the requirements in this subdivision makes the application invalid and any return filed after the due date will be treated as a late filed return. To obtain an automatic extension, an application must be filed by the corporation paying the tax for the combined group. The applicant must submit the following information:

   1. (1) its complete corporate name;
   2. (2) its employer identification number;
   3. (3) its file classification number;
   4. (4) a list showing the corporate name, employer identification number, file classification number and taxable period of each of the other corporations properly included as part of the combined group; and
   5. (5) a list showing the estimated tax for each taxpayer included as part of the combined group. The corporation paying the tax for the combined group must pay with the application the properly estimated combined tax plus the minimum tax for each of the other taxpayers included in the combined group.

3. (c) On or before the expiration of the automatic six-month extension of time for filing a return, the Tax Commission may grant additional three-month extensions of time for filing a return when good cause exists. No more than two additional three-month extensions of time for filing a return for any taxable year may be granted. An application for each additional three- month extension must be made in writing before the expiration of the previous extension. Additional extensions of time for filing by a combined group must be requested in one application by the corporation paying the tax for the combined group. The applicant must submit the following information:

   1. (1) its complete name;
   2. (2) its employer identification number;
   3. (3) its file classification number;
   4. (4) the reason for requesting the additional extension; and
   5. (5) in the case of an application by a combined group, a list showing the corporate name, employer identification number, file classification number and taxable period of each of the other corporations properly included as part of the combined group.
4. (d) Any extension of time for filing a return granted under this section will not extend the time for the payment of any tax due. (However, see section 2392.1 of this Title for provisions relating to the existence of reasonable cause for purposes of not imposing the addition to tax for failure to pay the amount of tax shown on a return where there are valid extensions of time to file.)

Tax Law, § 1515(c)