(b) Notwithstanding any other provision of this article to the contrary, any taxpayer required under this subdivision to pay an amount equal to twenty-five percent of its tax for the taxable year ending on December thirty-first, nineteen hundred seventy-six shall compute such amount as if its tax for such taxable year were determined on the basis of its gross earnings, dividends paid, gross income or gross operating income, as the case may be, for either the preceding twelve months ending on such date or for the period from the date of its incorporation under the laws of this state or the date it commenced carrying on or doing business in New York to and including December thirty-first, nineteen hundred seventy-six, if such date of incorporation or commencement of the carrying on or doing business was within the twelve months immediately preceding December thirty-first, nineteen hundred seventy-six. 2. The estimated tax or estimated tax surcharge for each taxable year with respect to which a declaration of estimated tax or a declaration of estimated tax surcharge, respectively, is required to be filed under this article shall be paid, in the case of a taxpayer which reports on the basis of a calendar year, as follows:

(a) If the declaration is filed on or before June fifteenth, the estimated tax or estimated tax surcharge shown thereon, after applying thereto the amount, if any, paid during the same taxable year pursuant to subdivision one of this section, shall be paid in three equal installments. One of such installments shall be paid at the time of the filing of the declaration, one shall be paid on the following September fifteenth, and one on the following December fifteenth.

(b) If the declaration is filed after June fifteenth and not after September fifteenth of such taxable year, and is not required to be filed on or before June fifteenth of such year, the estimated tax or estimated tax surcharge shown on such declaration, after applying thereto the amount, if any, paid during the same taxable year pursuant to subdivision one of this section, shall be paid in two equal installments. One of such installments shall be paid at the time of the filing of the declaration and one shall be paid on the following December fifteenth.

(c) If the declaration is filed after September fifteenth of such taxable year, and is not required to be filed on or before September fifteenth of such year, the estimated tax or estimated tax surcharge shown on such declaration, after applying thereto the amount, if any, paid in respect of such year pursuant to subdivision one of this section shall be paid in full at the time of the filing of the declaration.

(d) If the declaration is filed after the time prescribed therefor, or after the expiration of any extension of time therefor, paragraphs (b) and (c) of this subdivision shall not apply and there shall be paid at the time of such filing all installments of estimated tax or estimated tax surcharge payable at or before such time, and the remaining installments shall be paid at the times at which, and in the amounts in which, they would have been payable if the declaration had been filed when due. 3. If any amendment of a declaration is filed, the remaining installments, if any, shall be ratably increased or decreased (as the case may be) to reflect any increase or decrease in the estimated tax or estimated tax surcharge by reason of such amendment, and if any amendment is made after September fifteenth of the taxable year, any increase in the estimated tax or estimated tax surcharge by reason thereof shall be paid at the time of making such amendment. 4. Any amount paid pursuant to subdivision one shall be applied as a first installment against the estimated tax or estimated tax surcharge, respectively, of the taxpayer for the taxable year shown on the declaration required to be filed pursuant to section one hundred ninety-seven-a of this chapter, or if no declaration is filed pursuant to such section, any such amount shall be considered a payment on account of the tax or tax surcharge shown on the return or report required to be filed by the taxpayer for such taxable year. 5. Notwithstanding the provisions of section one thousand eighty-eight of this chapter or section sixteen of the state finance law, if an amount paid pursuant to subdivision one of this section exceeds the tax or tax surcharge, respectively, shown on the return or report required to be filed by the taxpayer for the taxable year during which such amount was paid, interest shall be allowed and paid on the amount by which the amount so paid pursuant to subdivision one exceeds such tax or tax surcharge, at the overpayment rate set by the commissioner of taxation and finance pursuant to subdivision (e) of section one thousand ninety-six or, if no rate is set, at the rate of six percent per annum, from the date of payment of the amount so paid pursuant to such subdivision one to the fifteenth day of the third month following the close of the taxable year, provided, however, that no interest shall be allowed or paid under this subdivision if the amount thereof is less than one dollar. 6. As used in this section, "the second preceding year's tax" means the tax imposed upon the taxpayer by section one hundred eighty-four, one hundred eighty-six-a or one hundred eighty-six-e of this article for the second preceding taxable year. 7. This section shall apply to a taxable period of less than twelve months in accordance with regulations of the tax commission. 8. The commissioner of taxation and finance may grant a reasonable extension of time, not to exceed six months, for the payment of any installment of estimated tax or estimated tax surcharge required pursuant to this section, on such terms and conditions as he may require, including the furnishing of a bond or other security by the taxpayer in an amount not exceeding twice the amount for which any extension of time for payment is granted, provided, however, that interest at the underpayment rate set by the commissioner pursuant to subdivision (e) of section one thousand ninety-six or, if no rate is set, at the rate of six percent per annum for the period of the extension, shall be charged and collected on the amount for which any extension of time for payment is granted under this subdivision. 9. A taxpayer may elect to pay any installment of estimated tax or estimated tax surcharge prior to the date prescribed in this section for payment thereof. 10. The provisions of this section shall apply to taxable periods of twelve months other than a calendar year by the substitution of the months of such fiscal year for the corresponding months specified in such provisions. 11. Any amount paid pursuant to paragraph four of subsection (c) of section six hundred fifty-eight of this chapter on behalf of a taxpayer subject to tax under this article shall be applied against the estimated tax of the taxpayer for the taxable year shown on the declaration required to be filed pursuant to section one hundred ninety-seven-a of this article, or if no declaration is filed pursuant to such section, any such amount shall be considered a payment on account of the tax shown on the report required to be filed by the taxpayer for such taxable year.