2023 New York Laws › TAX - Tax › Article 30-A - City Income Tax Surcharge › 1333 - Deposit and Disposition of Revenues.

§  1333. Deposit and disposition of revenues. All revenue collected by
  the commissioner of taxation and finance from the  tax  imposed  by  any
  city  pursuant  to  the authority of this article or article thirty-B of
  this chapter shall be  deposited  daily  with  such  responsible  banks,
  banking  houses  or  trust  companies, as may be designated by the state
  comptroller, to the credit of the comptroller, in trust for  such  city.
  Such  deposits  shall  be  kept in trust and separate and apart from all
  other moneys in the possession of the comptroller. The comptroller shall
  require adequate security from all such  depositories  of  such  revenue
  collected  by  the commissioner of taxation and finance. The comptroller
  shall retain in his hands such amount as the  commissioner  of  taxation
  and  finance may determine to be necessary for refunds in respect to the
  tax imposed by such city pursuant to the authority of  this  article  or
  article  thirty-B  of  this  chapter  and  for  reasonable  costs of the
  commissioner of taxation and finance in  administering,  collecting  and
  distributing  such  taxes,  out  of  which the comptroller shall pay any
  refunds of such taxes to which the taxpayer shall be entitled under  any
  law  enacted  by  such city pursuant to the authority of this article or
  article thirty-B of this chapter. The comptroller, after reserving  such
  refund  fund and such cost shall, on or before the fifteenth day of each
  month, pay to the chief fiscal officer of such city the balance of  such
  taxes collected, to be paid into the treasury of such city to the credit
  of  the general fund except that he shall pay to the state department of
  social services that amount of overpayments of the tax imposed  by  such
  city  pursuant  to  the authority of this article or article thirty-B of
  this chapter and the interest on such amount which is certified  to  him
  by the commissioner of taxation and finance as the amount to be credited
  against  past-due  support  pursuant  to  subdivision six of section one
  hundred seventy-one-c of this chapter and except that he  shall  pay  to
  the  New York state higher education services corporation that amount of
  overpayments of the tax imposed by such city pursuant to  the  authority
  of  this article or article thirty-B of this chapter and the interest on
  such amount which is certified to him by the  commissioner  of  taxation
  and  finance as the amount to be credited against the amount of defaults
  in repayment of guaranteed student loans pursuant to subdivision five of
  section one hundred seventy-one-d of this chapter  and  except  that  he
  shall  pay to the state university of New York or the city university of
  New York respectively that amount of overpayments of the tax imposed  by
  such  city pursuant to the authority of this article or article thirty-B
  of this chapter and the interest on such amount which  is  certified  to
  him  by  the  commissioner  of  taxation and finance as the amount to be
  credited against the amount of defaults in repayment of  state  or  city
  university  loans  pursuant  to  subdivision  six of section one hundred
  seventy-one-e of this chapter and except that, notwithstanding any other
  provision of law, he shall credit  to  the  revenue  arrearage  account,
  pursuant  to  section ninety-one-a of the state finance law, that amount
  of overpayments of the taxes imposed pursuant to the authority  of  this
  article  or  article  thirty-B  of this chapter and the interest on such
  amount which is certified to him by the  commissioner  of  taxation  and
  finance  as  the  amount  to  be  credited  against  a  past-due legally
  enforceable debt owed to a state agency pursuant  to  paragraph  (a)  of
  subdivision  six  of  section one hundred seventy-one-f of this chapter,
  provided, however, he shall  credit  to  the  special  offset  fiduciary
  account,  pursuant to section ninety-one-c of the state finance law, any
  such amount creditable as a liability as set forth in paragraph  (b)  of
  subdivision six of section one hundred seventy-one-f of this chapter and
  except  that  he  shall  pay  to  the  city  of  New York that amount of
  overpayments of tax imposed pursuant to the authority of this article or

  article thirty-B of this chapter and the interest on such  amount  which
  is  certified  to him by the commissioner of taxation and finance as the
  amount to be credited against city of New York tax warrant judgment debt
  pursuant  to  section  one  hundred  seventy-one-l  of this chapter, and
  except further that he/she shall pay  to  a  non-obligated  spouse  that
  amount  of  overpayment  of  tax  imposed  by  such city pursuant to the
  authority of this article or article thirty-B of this  chapter  and  the
  interest  on such amount which has been credited pursuant to section one
  hundred  seventy-one-c,   one   hundred   seventy-one-d,   one   hundred
  seventy-one-e, one hundred seventy-one-f or one hundred seventy-one-l of
  this  chapter  and  which  is  certified  to  him by the commissioner of
  taxation and  finance  as  the  amount  due  such  non-obligated  spouse
  pursuant  to  paragraph  six  of  subsection  (b) of section six hundred
  fifty-one of this chapter, and he shall deduct a like  amount  which  he
  shall  pay  into  the  treasury  to  the credit of the general fund from
  amounts subsequently payable to the department of social  services,  the
  state  university  of  New York, the city university of New York, or the
  higher education  services  corporation  or  to  the  revenue  arrearage
  account   or  special  offset  fiduciary  account  pursuant  to  section
  ninety-one-a or ninety-one-c of the state finance law, as the  case  may
  be, whichever had been credited the amount originally withheld from such
  overpayment.  The  amount  deducted  for  administering,  collecting and
  distributing such taxes during such monthly period shall be paid by  the
  comptroller into the general fund of the state treasury to the credit of
  the  state  purposes  account  therein.  The first payment to such chief
  fiscal officer shall be made on  or  before  March  fifteenth,  nineteen
  hundred  eighty-five,  which  payment  shall  represent  the  balance of
  revenue after provision for  refund  and  such  reasonable  costs,  with
  respect  to  taxes collected in nineteen hundred eighty-four. Subsequent
  payments shall be made on or before April  fifteenth,  nineteen  hundred
  eighty-five, and on or before the fifteenth day of each succeeding month
  thereafter,  and  shall represent the balance of revenue with respect to
  taxes collected the preceding calendar months. The  amounts  so  payable
  shall  be  certified  to the comptroller by the commissioner of taxation
  and finance or his delegate, either of whom shall not be held liable for
  any inaccuracy in such certificate. Where the amount  so  paid  over  to
  such  chief fiscal officer is more or less than the amount then due such
  city, the amount of overpayment or underpayment shall  be  certified  to
  the  comptroller  by  the  commissioner  of  taxation and finance or his
  delegate, either of whom shall not be held liable for any inaccuracy  in
  such  certificate. The amount of overpayment or underpayment shall be so
  certified to  the  comptroller  as  soon  after  the  discovery  of  the
  overpayment  or  underpayment  as  reasonably  possible  and  subsequent
  payments by the comptroller  to  such  chief  fiscal  officer  shall  be
  adjusted  by  subtracting the amount of any such overpayment from, or by
  adding the amount of any such underpayment to such number of  subsequent
  payments  and  distributions  as the comptroller and the commissioner of
  taxation and finance shall consider reasonable in view of the amount  of
  the overpayment or underpayment and all other facts and circumstances.