§ 288-a. Jeopardy assessments. If the tax commission believes that the
collection of any tax will be jeopardized by delay it may determine the
amount of such tax and assess the same, together with all interest and
penalties provided by law, against any person liable therefor prior to
the filing of his return and prior to the date when his return is
required to be filed. The amount so determined shall become due and
payable to the tax commission by the person against whom such a jeopardy
assessment is made, as soon as notice thereof is given to him personally
or by registered or certified mail. The provisions of section two
hundred eighty-eight of this article shall apply to any such
determination except to the extent that they may be inconsistent with
the provisions of this section. The tax commission shall abate any
jeopardy assessment if it finds that jeopardy does not exist. The
collection of any jeopardy assessment may be stayed by filing with the
tax commission a bond issued by a surety company authorized to transact
business in this state and approved by the superintendent of financial
services as to solvency and responsibility, or such other security
acceptable to the tax commission, conditioned upon payment of the amount
assessed and interest thereon, or any lesser amount to which such
assessment may be reduced by the tax commission or by a proceeding under
article seventy-eight of the civil practice law and rules as provided in
section two hundred eighty-eight of this article, such payment to be
made when the assessment or any such reduction thereof shall have become
final and not subject to further review. If such a bond is filed and
thereafter a proceeding under article seventy-eight is commenced as
provided in subdivision five of section two hundred eighty-eight of this
article, deposit of the taxes, penalties and interest assessed shall not
be required as a condition precedent to the commencement of such
proceeding. Where a jeopardy assessment is made, any property seized for
the collection of the tax shall not be sold (1) until expiration of the
time to apply for a hearing as provided in section two hundred
eighty-eight of this article, and (2) if such application is timely
filed, until the expiration of four months after the tax commission has
given notice of its determination to the person against whom the
assessment is made; provided, however, such property may be sold at any
time if such person has failed to attend a hearing of which he has been
duly notified, or if he consents to the sale, or if the tax commission
determines that the expenses of conservation and maintenance will
greatly reduce the net proceeds, or if the property is perishable.