N.Y. Comp. Codes R. & Regs. tit. 15 § 19.4

Current through Register Vol. 46, No. 45, November 2, 2024

Section 19.4 - Deposit of taxes

(a) All city taxes imposed pursuant to the local law which are collected by the Commissioner of Motor Vehicles shall be deposited in a manner agreed upon the Commissioner of Motor Vehicles and the State Comptroller, and, after retention of the amounts as provided in subdivision (c) of this section, shall be periodically withdrawn and deposited to the account of the department of finance of the city of New York subject to the approval of the State Comptroller.

(b) The Commissioner of Motor Vehicles or State Comptroller, as the case may be, may require adequate security from all such depositories.

(c) The Commissioner of Motor Vehicles or State Comptroller, as the case may be, shall retain in said accounts such amounts as he may, from time to time, determine to be necessary:

(1) for any refunds in respect to city taxes required to be made by section 046-7.0 of the local law; and

(2) for the reasonable costs incurred by the Department of Motor Vehicles and its agents in connection with the implementation ("implementation costs") and in the collection and administration of the city tax ("recurring operational costs"), as certified by the Commissioner of Motor Vehicles, out of which retained amounts the Commissioner of Motor Vehicles or the State Comptroller, as the case may be, shall pay:

(i) any refunds of such city tax to which taxpayers shall be entitled under the provisions of section 046-7.0 of the local law; and

(ii) such "implementation costs" and "recurring operational costs" incurred by the Department of Motor Vehicles and its agents.

(d) The commissioner of finance will reimburse the Commissioner of Motor Vehicles for any and all costs which have been or shall be incurred in implementing the administration and collection of the auto use tax in the event New York City repeals the local law or State of New York repeals the enabling legislation or in the event a court stays the collection of the tax or declares it null and void.

N.Y. Comp. Codes R. & Regs. Tit. 15 § 19.4