Rules for farmers and fishermen.

(1)

(i) General. If an individual is a farmer or fisherman (see subparagraph [ii] of this paragraph) for any taxable year:

(a) there will be only one required installment for the taxable year;

(b) the due date for such installment will be January 15th of the following taxable year;

(c) the amount of such installment will be the required annual payment determined as follows:

(1) 66 2 / 3 percent of the tax shown on the return for the taxable year (or, if no return is filed, 66 2 / 3 percent of the tax for such year); or

(2) 100 percent of the tax shown on the return of the individual for the preceding taxable year (provided such individual had filed a return for such year and such year was a taxable year of 12 months);

(d) the provisions of subdivision (c) of this section (Rule for returns filed on or before January 31st) will be applied by:

(1) substituting March 1st for January 31st; and

(2) treating the required installment described in clause ( a ) of this subparagraph as the fourth required installment.

(ii) An individual is a farmer or fisherman, for purposes of this subdivision, for any taxable year, if such individual's New York adjusted gross income from farming (see paragraph [2] of this subdivision) or fishing (see paragraph [3] of this subdivision) is:

(a) at least two thirds of such individual's total New York adjusted gross income from all sources for the taxable year; or

(b) at least two thirds of such individual's total New York adjusted gross income from all sources shown on such individual's return for the preceding taxable year.

(2) Farming, New York adjusted gross income from farming is the income resulting from oyster farming, the cultivation of the soil, the raising or harvesting of any agriculture or horticultural commodities and the raising of livestock, bees or poultry. In other words, the requisite percentage of New York adjusted gross income must be derived from the operations of a stock, dairy, poultry, fruit or truck farm, or from a plantation, ranch, nursery, orchard or oyster bed. If an individual receives for the use of his land income in the form of a share of the crops produced thereon, such income is from farming.

(3) Fishing. New York adjusted gross income from fishing is the income resulting from the catching, harvesting, cultivating, or farming of any kind of fish, shellfish (for example, clams and mussels), crustacea (for example, lobsters, crabs and shrimp), sponges, seaweeds or other aquatic forms of animal and vegetable life. Income from fishing includes the income received by an officer or member of the crew of a vessel while the vessel is engaged in any such activity, whether or not the officer or member of the crew is himself so engaged, and, in the case of an individual who is engaged in any such activity in the employ of any person, it includes the income received by such individual from such employment. In addition, income received for services performed as an ordinary incident to any such activity is income from fishing. Similarly, for example, income from fishing includes income received from the shore services of an officer or member of the crew of a vessel engaged in any such activity, if such services are an ordinary incident to any such activity. Services performed as an ordinary incident to such activities include, for example, services performed in such cleaning, icing and packing of fish as are necessary for the immediate preservation of the catch.