N.Y. Comp. Codes R. & Regs. tit. 20 § 481.2

Current through Register Vol. 46, No. 51, December 18, 2024

Section 481.2 - Election of method

Tax Law, § 503(3)

(a) A carrier will be required to compute the tax on the gross weight method unless he elects the unloaded weight method on the first return filed during any calendar year. For example, if a carrier files monthly returns, such election must be made in the return required to be filed on or before the last day of February or, if he files quarterly returns, the election must be made on the return required to be filed on or before April 30th. If a carrier becomes subject to truck mileage tax in the middle of the year, the election must be made on the first return required to be filed by him.

(b) The election to report on the unloaded weight method is irrevocable during the calendar year. If elected, it must be applied to all motor vehicles operated by the carrier and must be used in all subsequent returns for the calendar year. A new election, however, may be made in the first return filed in the following calendar year.

N.Y. Comp. Codes R. & Regs. Tit. 20 § 481.2