reglab/statecodes huggingface dataset:
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter F - Tax On The Furnishing Of Utility Services › Part 47 - Records › Section 47.2 - Methods of accounting

Current through Register Vol. 46, No. 28, July 10, 2024
(a) The
				  State Tax Commission is not disposed to put utilities to the additional expense
				  of establishing new or revised accounting systems or of keeping additional or
				  supplemental records. It will consider adequate and satisfactory the accounting
				  methods--cash or accrual--regularly employed by the taxpayer, if the accounts
				  so kept admit of the computation of gross income, or gross operating income as
				  the case may be.
(b) Satisfactory
				  explanations will be required concerning any changes in regular methods of
				  keeping accounts.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter F - Tax On The Furnishing Of Utility Services › Part 47 - Records › Section 47.3 - Retention of records

Current through Register Vol. 46, No. 28, July 10, 2024
All books of accounts and summary records shall be
					 preserved for not less than three years. Billings, sales slips and other
					 memoranda regarding sales made and services rendered, as, for example, the
					 individual slips prepared in connection with telephone calls, need be kept no
					 longer than they are usually kept by the utilities, but the summaries or
					 recapitulations thereof shall be preserved for three years.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter F - Tax On The Furnishing Of Utility Services › Part 48 - Returns And Payments › Section 48.1 - Returns

Current through Register Vol. 46, No. 28, July 10, 2024
Utilities reporting either gross income or gross operating
					 income are required to file returns.
Question 72:
How often must returns be filed?
Answer:
On or before the 25th day of September, December, March and June for the three
					 calendar months preceding each such return date. However, any utility whose
					 average gross income or gross operating income, as the case may be, for the
					 four quarterly periods preceding June 25 in any year is less than $1,500 may
					 file an annual return on or before June 25 for the 12 preceding calendar
					 months. Any utility whose gross income or gross operating income, as the case
					 may be, for any 12 months' period ending May 31, is less than $500 must file an
					 annual return on or before June 25 for the 12 preceding calendar months.
Question 73:
In whose name are returns required to be filed?
Answer:
Returns are required to be filed in the name of the
					 utility subject to tax but may be verified by its duly authorized agent.
Question 74:
Many utilities have meter-reading periods which do not
					 coincide with the calendar month. How do such utilities report?
Answer:
Such utilities may either (a) prorate receipts from
					 sales made or services rendered to conform to the period covered by the return
					 or (b) include in their returns receipts from sales made or services rendered
					 during their usual meter-reading periods. Regardless of the method adopted,
					 receipts from sales made or services rendered for 365 days of each year must be
					 included in returns.
Question 75:
May a utility, not subject to supervision by the State
					 Department of Public Service, which owns or operates several properties, file a
					 separate return stating the gross operating income derived from one or more of
					 such properties?
Answer:
Yes, if it secures the written
					 approval of the State Tax Commission. Such approval may be secured upon
					 application by the utility, made upon the form and containing the information
					 prescribed by the State Tax Commission. Any change in the number of properties
					 in which utility services are furnished, after approval to file separate
					 returns has been secured, is required to be promptly reported to the State Tax
					 Commission.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter F - Tax On The Furnishing Of Utility Services › Part 48 - Returns And Payments › Section 48.2 - Tax payments

Current through Register Vol. 46, No. 28, July 10, 2024
Question 76:
What is the rate of tax?
Answer:
Two
					 percent of gross income or gross operating income, as the case may be.
Question 77:
When must the tax be paid?
Answer:
At the
					 time the return is required to be filed.
Question 78:
What is the penalty for failure to file a return or pay a
					 tax at the time required?
Answer:
For the first months
					 delinquency five percent of the amount of the tax and one percent of such tax
					 for each additional month or fraction thereof.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter F - Tax On The Furnishing Of Utility Services › Part 48 - Returns And Payments › Section 48.3 - Extensions of time for filing reports

Current through Register Vol. 46, No. 28, July 10, 2024
(a) The State Tax Commission may grant a
				  reasonable extension of time for filing reports whenever good cause exists. An
				  application for an extension of time should be made prior to the due date of
				  the report, and should be mailed or delivered to the Corporation Tax Bureau,
				  The Governor Alfred E. Smith State Office Building, Albany, NY.
(b) An extension of time for filing the
				  report (form 10 CT or form 11 CT) will be granted only on condition that a
				  tentative report is filed and the tax due thereon is paid. A tentative report
				  is required to be made in the form prescribed for the final report and must set
				  forth the amount of tax which the taxpayer estimates it will be required to
				  pay.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter F - Tax On The Furnishing Of Utility Services › Part 49 - Utility Rate Reduction And Credit › Section 49.1 - Utility rate reduction and credit

Current through Register Vol. 46, No. 28, July 10, 2024
Tax Law, § 186-a(8)
(a) Any
first class
utility
				  (see section
				  44.2[a] 
				  of this Title) that is subject to tax pursuant to section 186-a  of the Tax Law shall provide, in
				  addition to any other discount, a three percent reduction in the rate charged
				  for gas, electricity, steam or water sold, or gas, electric, steam or water
				  service rendered, for ultimate consumption or use within an area designated as
				  an economic development zone pursuant to article 18-B of the General Municipal
				  Law by a business that:
(1) has been
				  certified pursuant to article 18-B of the General Municipal Law or has applied
				  for such certification;
(2) is
				  either incorporated or unincorporated;
(3) is not a retail enterprise; and
(4) has claimed an economic development zone
				  wage tax credit under section 210 (19), section 606 (k), section 1456 (e) or
				  section 1511 (g)  of the Tax Law,
				  excluding carryovers of such credit, during the previous 15 months as evidenced
				  by a certificate issued by the Commissioner of Taxation and Finance.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter G - Stock Transfer Tax › Part 50 - General Provisions › Section 50.1 - General

Current through Register Vol. 46, No. 28, July 10, 2024
(a) By section 270  of
				  the Tax Law, a tax is imposed upon transactions with reference to:
(1) shares of stock;
(2) certificates of stock;
(3) certificates of rights to stock;
(4) certificates of interest in
				  property or accumulations;
(5)
				  certificates of interest in business conducted by a trustee or trustees;
(6) certificates of deposit
				  representing any of the foregoing. The tax applies to such shares or
				  certificates in any domestic or foreign corporation, company, association, or
				  business conducted by a trustee or trustees.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter G - Stock Transfer Tax › Part 50 - General Provisions › Section 50.2 - When a taxable event is deemed to occur within the State of New York

Current through Register Vol. 46, No. 28, July 10, 2024
The fact that two or more of the taxable events described
					 in article 12 of the Tax Law and in section
					 50.1  of this
					 Part occur within the State of New York with respect to a single transaction
					 does not mean that more than one tax is imposed; only one tax is payable with
					 respect to any one transaction. Thus, if a sale, delivery of the certificates
					 and record transfer to the name of the purchaser are all made within the State,
					 only one tax is payable. However, if any one of these taxable events occurs
					 within the State with reference to any transaction, it is subject to tax
					 regardless of where the others occurred. Thus, a transfer of record ownership
					 on the books of the corporation within the State is subject to tax, even though
					 the sale and delivery of the certificates were made outside the State. The same
					 is true of a sale or agreement to sell, or a delivery of certificates made
					 within the State, although all other events relating to the same transaction
					 occurred outside of the State. However, Federal Law preempts the imposition of
					 the tax on a transfer of beneficial or record ownership on the books of a
					 corporation within the State effected through the facilities of a registered
					 clearing agency or registered transfer agent if such tax is imposed solely
					 because the facilities of such registered clearing agency or registered
					 transfer agent are physically located within the State (see  15 U.S.C.A. section 78bb).
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter G - Stock Transfer Tax › Part 50 - General Provisions › Section 50.3 - Who must pay the tax

Current through Register Vol. 46, No. 28, July 10, 2024
Section 270 (3)  of the Tax Law
					 imposes liability for the tax upon the person or persons making or effectuating
					 the sale or transfer, including the person or persons to whom the sale or
					 transfer is made. Thus, both transferor and transferee (and also any agent or
					 broker of either the transferor or the transferee) are liable, and if a
					 transfer is made on the books of the corporation, it is also liable. The
					 parties to a transaction may agree which of them shall bear this liability and
					 payment of the tax by either discharges the liability of both. However, if the
					 party who has agreed to pay the tax fails to do so, the other party is not
					 exonerated from liability by such agreement and in such case payment may be
					 enforced against either party.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter G - Stock Transfer Tax › Part 50 - General Provisions › Section 50.4 - Requirements as to bills and memoranda of sale

Current through Register Vol. 46, No. 28, July 10, 2024
(a) In addition to the information required
				  by section 270 (4)  of the Tax Law,
				  every bill or memorandum of sale, agreement to sell and sale ticket must show
				  the selling price per share of the stock sold, transferred or
				  delivered.
(b) A memorandum of sale
				  must bear a date the same as or later than the date of the assignment of the
				  stock certificate which it accompanies. When such memorandum bears a date prior
				  to the date on the surrendered certificate, a certification signed by the
				  broker must be attached to the memorandum showing the date of delivery of the
				  certificate to which it is attached and stating that the memorandum was issued
				  in compliance with section 270  of
				  the Tax Law and applies to such certificate.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter G - Stock Transfer Tax › Part 51 - Transfers › Section 51.1 - Transfers-whether or not by sale

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
				  Transfer by sale. A certificate of stock or other corporate certificate which
				  is presented for transfer shall, if the transfer was by sale and the tax was
				  paid by the use of adhesive stamps, be accompanied either by a bill or
				  memorandum of sale showing the sale price or by a certification signed by the
				  seller and stating the price per share at which the shares were sold.
(b) Transfer not by sale. A certificate of
				  stock or other corporate certificate which is presented for transfer shall, if
				  the transfer was other than by sale and the tax was paid by the use of adhesive
				  stamps, be accompanied by a certification signed by the transferor and stating
				  that the shares were transferred other than by sale.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter G - Stock Transfer Tax › Part 51 - Transfers › Section 51.2 - Transfers pursuant to instructions on magnetic or punched tape, etc

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
(1) Notwithstanding any other provision of
				  this Subchapter, in the case of a transfer or delivery of certificates effected
				  pursuant to instructions on magnetic or punched tape, discs, cards or other
				  media, or by wire or wireless transmission, the person so effecting such
				  transfer or delivery may insert in such instruction--in lieu of any required
				  certification--an arabic numeral, as follows, or such other unique alphabetic
				  or numeric character (see paragraph [2] of this subdivision).
(i) in the case of a transfer or delivery of
				  certificates on which the tax will be paid through a clearing corporation, as
				  provided in section
				  52.2 
				  of this Title, the broker may insert in such instruction the arabic numeral
				  "1", in lieu of the certification, required by subdivision (f) of such section,
				  that the tax on the shares transferred will be paid through a clearing
				  corporation;
(ii) in the case of a
				  transfer or delivery of certificates, on which the tax will be paid other than
				  by the use of stamps, by a dealer as provided in section
				  52.3 
				  of this Title (whether or not such dealer employs a clearing agent), the dealer
				  may insert in such instruction the arabic numeral "1", in lieu of the
				  certification, required by subdivision (d) of such section, that the tax on the
				  shares transferred will be paid directly to the commissioner;
(iii) in the case of a transfer or delivery
				  of certificates by:
(a) a broker who is a
				  member of a registered securities exchange within the State of New York which
				  is registered with the Securities and Exchange Commission of the United States
				  and who maintains a regular place of business within the State of New
				  York;
(b) a bank, national banking
				  association or trust company maintaining a regular place of business in the
				  State of New York; or
(c) any
				  dealer in securities maintaining a regular place of business in the State of
				  New York, such person or entity may insert in such instruction the arabic
				  numeral "2", in lieu of the certification of tax exemption required by section
				  54.1  of this
				  Title; or
(iv) in the
				  case of a transfer made by a depositor through a system for the central
				  handling of securities (other than a depositor which qualifies under
				  subparagraph [iii] of this paragraph), where such transfer is exempt from tax
				  under paragraph (j) or (k) of subdivision 5 of section 270  of
				  the Tax Law, such depositor may insert in such instruction the arabic numeral
				  "3," in lieu of the certification of tax exemption required by section
				  54.1  of this
				  Title.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter G - Stock Transfer Tax › Part 52 - Payment Of Tax; Rebates › Section 52.1 - Payment of tax by use of stamps

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
				  The tax must be paid by affixing and cancelling New York stock transfer tax
				  stamps in all cases, except with respect to a transaction executed or
				  effectuated within the State of New York by:
(1) brokers who are members of a registered
				  securities exchange within the State of New York; or
(2) dealers in securities who are not members
				  of such an exchange and who have filed with the commissioner written notice of
				  their election to pay the tax to the commissioner without the use of
				  stamps.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter G - Stock Transfer Tax › Part 52 - Payment Of Tax; Rebates › Section 52.2 - Payment of tax by brokers through clearing corporation

Current through Register Vol. 46, No. 28, July 10, 2024
(a) The taxes imposed by article 12 of the
				  Tax Law on any sale, delivery or transfer of stock or other corporate
				  certificates, executed or effected within the State of New York by a member of
				  any securities exchange within the State of New York which is registered with
				  the Securities and Exchange Commission of the United States, shall be paid to
				  the affiliated clearing corporation of or for such exchange, for the account of
				  the commissioner, by such member (hereinafter called the broker) without the
				  use of the stamps prescribed by said article 12. In the case of sales,
				  deliveries or transfers made on a securities exchange, or otherwise, by a
				  broker who is a member of more than one such exchange, such broker shall choose
				  the clearing corporation affiliated with one such exchange through which he
				  shall pay the taxes on all his transactions. Such choice when made shall be
				  irrevocable except upon the written consent of the commissioner.
(b) Every broker shall, for each full
				  business day upon which such clearing corporation is clearing or settling, make
				  a report to such clearing corporation as provided in subdivision (c) of this
				  section. The report shall show the amount of stock transfer taxes payable on
				  all sales, deliveries or transfers executed or effected by such broker which
				  under the rules of such exchange or otherwise are due for clearance or
				  settlement on that day by such broker and such other information as the
				  commissioner may prescribe. The report shall also authorize and direct such
				  clearing corporation to remit to the commissioner or the commissioner's duly
				  designated depositary, when due, the amount of taxes shown upon the report to
				  be payable and to charge such amount to the account of the broker making the
				  report. Additionally the report shall show the amount of the rebate of tax due,
				  as provided for in section 280-a (6)  of the Tax Law.
				  Such report shall be provided to such clearing corporation not later than the
				  business day following that for which the report is made. The amount of taxes
				  so required to be reported must be shown in a separate account on the general
				  ledger of the broker, and the postings to such account shall clearly refer to
				  the books of original entry showing separately the tax required to be reported
				  on:
(1) New York Stock Exchange
				  transactions;
(2) American Stock
				  Exchange transactions; and
(3) all
				  other transactions, so that they may be readily audited by the
				  department.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter G - Stock Transfer Tax › Part 52 - Payment Of Tax; Rebates › Section 52.3 - Optional method of payment by dealers in securities who are not members of a securities exchange

Current through Register Vol. 46, No. 28, July 10, 2024
Additional statutory authority: Tax Law, § 281-a
(a) The taxes imposed by article 12 of the
				  Tax Law on any sale or transfer of any stock or other corporate certificates
				  executed or effected within the State of New York (other than upon a securities
				  exchange) by any person, firm, corporation, company or association registered
				  with the Attorney-General of the State of New York as a dealer in securities
				  shall, if such dealer is not required to pay taxes to an authorized corporation
				  pursuant to section
				  52.4 
				  of this Part, and if such dealer so elects, be paid to the commissioner by such
				  dealer without the use of stamps prescribed by said article 12. In the event
				  that such dealer uses a clearing agent and also duly appoints such agent to act
				  for him in the payment of the tax without the use of stamps, then only said
				  agent shall remit the tax. The appointment of every such agent shall be subject
				  to the written approval of the commissioner. An election to pay the tax without
				  the use of stamps shall be made by a notice in writing filed by such dealer
				  with the commissioner. Such notice shall state:
(1) that on and after a specified date the
				  dealer will pay the tax to the commissioner without the use of
				  stamps;
(2) the date of the
				  dealer's registration with the Attorney-General of the State of New York as a
				  dealer in securities; and
(3) the
				  name and address of the agent of the dealer, if any, who will act as clearing
				  agent and who will remit the tax on behalf of the dealer.
An election once made shall be irrevocable, except with the
					 written consent of the commissioner, and except that if any dealer becomes an
					 eligible member of an authorized corporation as defined in section
					 52.4 
					 of this Part and is thereby required to pay taxes to such corporation, his
					 election to pay taxes pursuant to this section shall be thereby terminated. The
					 commissioner may at any time withdraw from any dealer the privilege of paying
					 the tax without stamps. Written notice of the termination of the authority of
					 any such agent shall be given immediately to the commissioner. Any stamps
					 lawfully in the possession of a dealer at the time his election becomes
					 effective shall be subject to redemption under the law pertaining thereto and
					 shall not be used as part payment of the tax due from such
					 dealer.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter G - Stock Transfer Tax › Part 52 - Payment Of Tax; Rebates › Section 52.4 - Payment of tax by dealers through authorized corporation

Current through Register Vol. 46, No. 28, July 10, 2024
Additional statutory authority: Tax Law, § 281-a
(a) As used in this section, the following
				  terms shall have the meanings herein set forth:
(1)
Authorized corporation
shall mean a corporation formed to provide facilities for clearing transactions
				  in over-the-counter securities by dealers and brokers and which has been
				  authorized by the commissioner to receive payment of taxes pursuant to this
				  section.
(2)
Eligible
				  member
shall mean a clearing member of an authorized corporation who
				  does not make payment of tax through a clearing corporation affiliated with a
				  registered securities exchange pursuant to section
				  52.2 
				  of this Part.
(3)
Over-the-counter securities
shall mean securities which are
				  not bought and sold on a securities exchange within the State of New York which
				  is registered with the Securities and Exchange Commission of the United
				  States.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter G - Stock Transfer Tax › Part 53 - Exemptions › Section 53.1 - Exemptions generally

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
				  Various types of transfers are expressly exempted from the tax. Under
				  subdivision 5 of section 270  of
				  the Tax Law some of these transactions are exempt only if accompanied by an
				  exemption certificate.
(b)
				  Transfers of certain types resulting from death, insanity, bankruptcy and
				  similar contingencies, in which change of ownership is effected by operation of
				  law, are exempted from the tax by section 270-c  of the Tax Law. No exemption
				  certificate is required for such transfers.
(c) If a fiduciary, having possession of
				  certificates issued in the name of any one other than him, transfers the same
				  into the name of his nominee, such transfer is not exempt from tax under
				  paragraph (d) of subdivision (5) of section 270  of
				  the Tax Law because it is not made "from the name of" the fiduciary. Likewise,
				  no exemptions exist under paragraph (e) or (g), respectively, of subdivision
				  (5) of such section 270 for a transfer by the owner of certificates issued in
				  some name other than his own to his custodian, or for a transfer by a broker of
				  certificates issued in some name other than his own to a customer upon whose
				  order he has purchased them. However, if the applicable tax has been paid upon
				  the transaction in which shares or certificates were acquired by the transferor
				  (fiduciary, owner or broker), and proper evidence of such payment is furnished
				  to the transfer agent (see Part 52 of this Title), it is unnecessary to make a
				  double transfer on the books of the corporation, first to the name of such
				  party, and then to the name of his transferee (the fiduciary's nominee, the
				  owner's custodian or the broker's customer). If such a double transfer were
				  made, no tax would be payable, the tax upon the first step having already been
				  paid, and the second step being exempt. Accordingly, if a proper exemption
				  certificate is submitted in proof of the exempt character of the second step, a
				  short-cut transfer may be made directly to the name of such
				  transferee.
(d) Certain transfers
				  not expressly described in subdivision 5 of section 270  of
				  the Tax Law are exempt because they represent a combination of exempt transfers
				  (e.g., since a transfer from the name of an owner to his custodian is tax-free
				  and a transfer from the custodian to his nominee is tax-free, a transfer
				  directly from the name of the owner to the nominee of his custodian is tax-
				  free). The principle is that where all the transfers in a chain of transfers
				  are exempt from taxation, any of the intermediate links of the chain may be
				  omitted and the transfer will still be exempt.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter G - Stock Transfer Tax › Part 53 - Exemptions › Section 53.2 - Transfers through a system for the central handling of securities

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Transfers or
				  deliveries upon the instructions of a depositor in a system for the central
				  handling of securities (including the clearing and settling of securities
				  transactions):
(1) established by a national
				  securities exchange or association registered with the Securities and Exchange
				  Commission of the United States; or
(2) maintained by a clearing corporation as
				  defined in subsection (3) of section 8-102  of the Uniform Commercial Code, from
				  the name of such depositor or his nominee or from the name of his customer or
				  the nominee of such customer to the registered nominee of any such system, are
				  exempt from tax when made for the purpose of holding such shares or
				  certificates, as agent for such depositor. Transfers or deliveries upon the
				  instructions of any such depositor from the name of the registered nominee of
				  such system to the same depositor, customer or nominee are similarly exempt.
				  (See section
				  55.2 
				  of this Title for provisions relating to registrations of nominees.)
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter G - Stock Transfer Tax › Part 54 - Exemption Certificates › Section 54.1 - General

Current through Register Vol. 46, No. 28, July 10, 2024
Every person effecting any delivery or transfer of a
					 certificate of stock or other certificate subject to the provisions of article
					 12 of the Tax Law and claiming an exemption from tax as provided in such
					 article must execute a certification setting forth briefly the specific facts
					 giving rise to the exemption claimed (including a citation of the statutory
					 provision which is the basis for the exemption). The certification used by any
					 person effecting any such delivery or transfer shall bear the facsimile
					 signature of such person and, if a corporation, firm or other entity, shall
					 bear as signature the name of such entity and the facsimile authorized
					 signature of an officer, partner or other authorized person thereof. If a
					 rubber stamp is used (see section
					 50.1[k] 
					 of this Title), it shall be kept in the possession of such person or such
					 officer, partner or other authorized person of such entity, and used only by
					 such person or other authorized user, or by a duly designated representative
					 thereof. The certification and any evidence in proof of any claimed exemption
					 must be maintained by the person making such claim and must be made available
					 for inspection by officers and representatives of the department, in accordance
					 with the provisions of section 276  of the Tax Law.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter G - Stock Transfer Tax › Part 54 - Exemption Certificates › Section 54.2 - Records to be maintained by out-of-state brokers and dealers in securities

Current through Register Vol. 46, No. 28, July 10, 2024
(a) In support of
				  any claimed exemption from tax, brokers and dealers in securities who are
				  members of a registered securities exchange within the State of New York but
				  who do not maintain a regular place of business within the State of New York,
				  and brokers and dealers in securities who are not members of a registered
				  securities exchange within the State of New York and who do not maintain a
				  regular place of business in the State of New York, must maintain a certain
				  minimum of records reflecting transactions subject to a New York State stock
				  transfer tax and must hold these records available for inspection by
				  representatives of the department.
(b) Such records must include entries on the
				  blotters or other records of original entry containing the itemized record of
				  all transactions in securities by such brokers or dealers in securities, a
				  separate column showing the New York State stock transfer tax paid on those
				  transactions which are subject to a New York State stock transfer tax. The
				  ledgers or other books of account maintained by such brokers must also contain:
(1) a New York State stock transfer tax
				  account; and
(2) a special account
				  for securities in transfer with New York transfer agents and the tax paid on
				  each such transfer.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter G - Stock Transfer Tax › Part 55 - Registration Of Nominees › Section 55.1 - Registration of corporate nominees

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Any domestic or foreign corporation may
				  appoint a person or partnership to act as its nominee in the holding of shares
				  or certificates on its behalf; provided, however, that no person may act as
				  nominee for more than one corporation, either individually or as a member of
				  any partnership, nor may a partnership act as nominee for more than one
				  corporation. Any such corporation may file in the office of the commissioner, a
				  written statement, setting forth the following:
(1) the name of the corporation;
(2) the principal place of business of the
				  corporation;
(3) the business of
				  the corporation;
(4) the function
				  to be performed by the nominee;
(5)
				  the name, residence and business address of the proposed nominee, or, in the
				  case of a partnership, of each member thereof.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter G - Stock Transfer Tax › Part 55 - Registration Of Nominees › Section 55.2 - Registration of a nominee of a system for the central handling of securities

Current through Register Vol. 46, No. 28, July 10, 2024
(a) A system for
				  the central handling of securities, as described in paragraph (j) of
				  subdivision 5 of section 270  of
				  the Tax Law, wishing to appoint a nominee to act on its behalf in pursuance of
				  the provisions of such paragraph shall file with the commissioner a written
				  statement setting forth the following:
(1)
				  the name of the system for the central handling of securities;
(2) the name of (i) the national securities
				  exchange or association registered with the Securities and Exchange Commission
				  of the United States by which such system was established, or, (ii) if such
				  system is maintained by a clearing corporation, the name of the clearing
				  corporation by which such system is maintained and a statement showing that
				  such clearing corporation is a clearing corporation as defined in subsection
				  (3) of section 8-102  of the Uniform Commercial Code;
(3) the principal place of business of such
				  system;
(4) the name, residence and
				  business address of the proposed nominee, or in the case of a partnership, of
				  each member thereof;
(5) a
				  statement that such nominee proposes to act as such for purposes of paragraph
				  (j) of subdivision 5 of section 270  of
				  the Tax Law; and
(6) a description
				  of how the system intends to operate, including the type of depositors
				  presently contemplated.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter G - Stock Transfer Tax › Part 56 - Cancelled Certificates › Section 56.1 - Retention of cancelled certificates outside of New York State

Current through Register Vol. 46, No. 28, July 10, 2024
Additional statutory authority: Tax Law, § 171
(a) The commissioner may permit cancelled
				  certificates to be retained outside the State within the four-year period
				  specified by section 276  of the Tax Law when an examination with
				  respect to the transactions to which such certificates relate has been
				  completed and it is agreed that the certificates will be returned to New York
				  for further examination within the remainder of the applicable four-year period
				  by an authorization on the appropriate form as prescribed by the commissioner,
				  or the commissioner may consent to the destruction of original documents and
				  the preservation of reproduced documents pursuant to the provisions of section 276  of the Tax Law.
(b) See Part 2402 of this Title for taxpayer
				  record retention formats.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter H - Alcoholic Beverage Tax › Part 60 - Filing Requirements; Returns › Section 60.1 - Returns and payment of tax on alcoholic beverages

Current through Register Vol. 46, No. 28, July 10, 2024
Tax Law, §§ 424(2), 429, 445; Administrative Code of the
					 City of New York, §§ 11-2057, 11-2058
(a)
(1)
				  Except as provided in paragraphs (2), (3) and (4) of this subdivision, every
				  distributor must, on or before the 20th day of each month, file with the
				  Department of Taxation and Finance a monthly tax return, for the preceding
				  month, on a form or forms prescribed by the department for such purpose, even
				  though no tax may be payable. Except for a distributor as defined in clause
				  (4)(i)(
a
) of this subdivision, in addition to any other
				  required information, such return must show, the number of gallons of beers or
				  wines (or fractional part thereof) or liters of liquors (or fractional part
				  thereof) that are:
(i) on hand at the
				  beginning of the preceding month;
(ii) manufactured or purchased during the
				  preceding month;
(iii) on hand at
				  the end of the preceding month; and
(iv) sold or used in this State during the
				  preceding month.
Such return must also include the number of gallons of
					 beers or wines or liters of liquors in transit during the return period and the
					 extent of the distributor's other receipts and distributions of alcoholic
					 beverages in New York State during the return period. For a distributor as
					 defined in clause (4)(i)(
a
) of this subdivision, in addition
					 to any other required information, such return must show the total number of
					 gallons of wines (or fractional part thereof) that are sold directly to New
					 York State residents for such residents' personal use during the preceding
					 month. The return must be prepared in accordance with the instructions provided
					 by the department and must be accompanied by all supporting
					 schedules.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter H - Alcoholic Beverage Tax › Part 60 - Filing Requirements; Returns › Section 60.2 - Timely filing/timely payment

Current through Register Vol. 46, No. 28, July 10, 2024
Tax Law, § 434-a
(a) Where any return or payment of tax
				  required to be filed or made within a prescribed period or on or before a
				  prescribed date is mailed in accordance with the provisions of section
				  2399.2 
				  of this Title, such return or payment (if not dishonored upon presentment) will
				  be deemed timely filed and timely made.
(b) Returns filed or payments made prior to
				  the last date prescribed for filing or paying shall be considered filed and
				  made on such last date.
(c) When
				  the last date prescribed for filing a return or for making a payment falls on a
				  Saturday, Sunday or legal holiday in the State of New York see section
				  2399.3 
				  of this Title.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter H - Alcoholic Beverage Tax › Part 60 - Filing Requirements; Returns › Section 60.3 - Semiannual physical inventories

Current through Register Vol. 46, No. 28, July 10, 2024
Tax Law, §§ 426, 445; Administrative Code of the City of
					 New York, §§ 11-2057, 11-2058
Every wine distributor and every liquor distributor,
					 whether a liquor distributor for the purpose of State or City of New York
					 excise taxes, or both such taxes, must file a semiannual physical inventory of
					 wines and liquors. One of the semiannual physical inventories submitted must be
					 as of the end of the fiscal year of the distributor.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter H - Alcoholic Beverage Tax › Part 61 - Records To Be Kept › Section 61.1 - Records required of distributor holding retail license

Current through Register Vol. 46, No. 28, July 10, 2024
Tax Law, §§ 426, 445; Administrative Code of the City of
					 New York, §§ 11-2057, 11-2058
(a) A
				  distributor, whether a distributor for the purposes of State or City of New
				  York excise taxes, or both such taxes, holding a retail license for on- or
				  off-premises consumption issued by the State Liquor Authority shall keep
				  records showing separately each purchase of beers, wines or liquors, the name
				  and address of the person from whom purchased, the quantity and date of
				  purchase and showing in the aggregate the quantity of beers, still wines,
				  artificially carbonated sparkling wines, sparkling wines or liquors sold (if a
				  distributor for City of New York purposes only, the foregoing records shall be
				  limited to beers and to liquors containing more than 24 percent of alcohol by
				  volume).
(b) Each such person shall
				  keep the invoice if a seller in a transaction, and a copy of the invoice if a
				  purchaser in a transaction, as required pursuant to the provisions of section
				  65.1 
				  of this Title.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter H - Alcoholic Beverage Tax › Part 61 - Records To Be Kept › Section 61.2 - Records required of a retail licensee not a distributor

Current through Register Vol. 46, No. 28, July 10, 2024
Tax Law, §§ 426, 445; Administrative Code of the City of
					 New York, §§ 11-2057, 11-2058
(a)
				  Every person who is not a distributor, for the purpose of the State of New York
				  excise taxes, and who has a retail license for on- or off-premises consumption
				  issued by the State Liquor Authority shall keep records showing separately each
				  purchase of beers, wines or liquors, the name and address of the person from
				  whom purchased and the quantity and date of purchase.
(b) Each such person shall keep the copy of
				  the invoice as required pursuant to the provisions of section
				  65.1 
				  of this Title.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter H - Alcoholic Beverage Tax › Part 61 - Records To Be Kept › Section 61.3 - Preservation of records

Current through Register Vol. 46, No. 28, July 10, 2024
Tax Law, §§ 426, 445; Administrative Code of the City of
					 New York, §§ 11-2057, 11-2058
(a) The
				  records and invoices required to be maintained, prepared and kept by
				  distributors, owners and others as provided in this Subchapter shall be
				  preserved for a period of three years.
(b) See Part 2402 of this Title for taxpayer
				  record retention formats.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter H - Alcoholic Beverage Tax › Part 62 - Sales Without Tax › Section 62.1 - Sale and use of alcohol for nonbeverage purposes without tax

Current through Register Vol. 46, No. 28, July 10, 2024
(a) A holder of an alcohol distributor's
				  permit, class A (lettered DAA) may sell alcohol for nonbeverage use tax-free to
				  a holder of an industrial alcohol permit (lettered IAP), to a holder of an
				  alcohol permit (lettered AP) and to holder of an alcohol distributor's permit
				  of any class.
(b) A holder of an
				  alcohol distributor's permit, class B (lettered DAB) may sell alcohol for
				  nonbeverage use tax-free to a holder of an industrial alcohol permit (lettered
				  IAP), to a holder of an alcohol permit (lettered AP) and to a holder of an
				  alcohol distributor's permit, class C (lettered DAC).
(c) A holder of an alcohol distributor's
				  permit, class C (lettered DAC) may sell alcohol for nonbeverage use tax-free to
				  a holder of an alcohol permit (lettered AP) and may also use alcohol in the
				  manufacture of nonbeverage products tax-free.
(d) A holder of an industrial alcohol permit
				  (lettered IAP) or of an alcohol permit (lettered AP) may use alcohol for a
				  nonbeverage purpose tax-free.
(e)
				  Every such permittee who, pursuant to this section, sells alcohol tax-free is
				  required to obtain from the purchaser a certificate in the following form:
The undersigned engaged in the business of ________
					 certifies that all alcohol purchased tax-free from ________ and to be purchased
					 hereafter, has been or will be used by the purchaser exclusively for the
					 following nonbeverage purpose or purposes:____________
(Purchaser)
By ____________
(Title)
Purchaser's N.Y. IAP No. ____________
N. Y. AP No. ____________
N. Y. DAA No. ____________
N. Y. DAB No. ____________
N. Y. DAC No. ____________
N. Y. DAD No. ____________
(f) A certificate need not be obtained for
				  each purchase. When one is obtained, it is applicable to all purchases until
				  the certificate is destroyed. A certificate may be destroyed when the purchaser
				  discontinues purchases for a period of three years. All certificates not
				  subject to destruction, as above provided, must be kept available for
				  inspection by representatives of the Commissioner of Taxation and Finance.
				  Every permittee, who pursuant to this section, sells alcohol tax-free is
				  required to keep an accurate record thereof and to file with the Commissioner
				  of Taxation and Finance a monthly statement on forms prescribed by the
				  Department of Taxation and Finance, showing separately each sale of such
				  alcohol, the quantity sold, the date of sale and the name and address of the
				  purchaser. Every permittee who, pursuant to this section, purchases alcohol
				  tax-free shall keep records showing each purchase separately and also adequate
				  and complete records showing the use made of the alcohol so
				  purchased.
New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter I - Franchise and Certain Business Taxes › Subchapter H - Alcoholic Beverage Tax › Part 63 - Refunds › Section 63.1 - Reimbursement of city taxes on beers sold without the city

Current through Register Vol. 46, No. 28, July 10, 2024
Tax Law, §§ 434, 445; Administrative Code of the City of
					 New York, §§ 11-2057, 11-2058
(a) The
				  Commissioner of Taxation and Finance is authorized, pursuant to sections
				  434.2(b) and 445 of the Tax Law, to provide reimbursement in the amount of City
				  of New York excise taxes on beers in the following circumstances:
(1) where a sale of beer by a wholesaler is
				  completed by delivery in the city to a wholesaler on and after May 1, 1982, in
				  a transaction where the city tax with respect to such beers was properly paid
				  and remitted; and
(2) where such
				  wholesaler then subsequently sells the beer, which was the subject of the prior
				  sale, in a sale without the city to which the city tax does not apply, the
				  Commissioner of Taxation and Finance shall provide a reimbursement in the form
				  of credit or refund in the amount of the city taxes paid and remitted with
				  respect to such beers; provided, however, that prior to making an application
				  for a refund of city tax, the amount of such refund must first be employed as a
				  credit to offset the applicant's liabilities, if any, for State and/or city
				  beverage taxes then due and owing. Then, and only then, the remainder of the
				  amount of city tax may be the subject of a refund application.