There is no native Now() function in SQL Server so you should use:
select GETDATE() --2012-05-01 10:14:13.403
you can get day, month and year separately by doing:
select DAY(getdate()) --1
select month(getdate()) --5
select year(getdate()) --2012
if you are on sql server 2008, there is the DATE date time which has only the date part, not the time:
select cast (GETDATE() as DATE) --2012-05-01