N.Y. Comp. Codes R. & Regs. tit. 15 § 29.5

Current through Register Vol. 46, No. 36, September 4, 2024

Section 29.5 - Deposit of taxes

(a) All county taxes imposed under the local law which are collected by the commissioner shall be deposited in a manner agreed upon by the commissioner 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Comptroller and, after retention of the amounts as provided in subdivision (c) of this section, shall be periodically withdrawn and deposited to the account of the appropriate fiscal office or department of the county for whom the tax has been collected, subject to the approval of the State Comptroller.

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

(c) The State Comptroller shall retain in said accounts such amounts as the Comptroller may, from time to time, determine to be necessary:

(1) for any refunds in respect to county taxes required to be made by section 29.4(d) of this Part; and

(2) for the reasonable costs incurred by DMV and its agents in connection with the collection and administration of the county tax, as certified by the commissioner.

(d) The appropriate fiscal officer of the county will reimburse the commissioner for any and all costs which have been or shall be incurred in implementing the administration and collection of the vehicle use tax in the event the county repeals the local law or the 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 § 29.5