This text of New York § 77 (Annual license fee) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
§ 77. Annual license fee.
1.Each cooperative corporation organized,\nwith or without capital stock, for the purpose of cooperative marketing\nof agricultural products or for the purpose of making loans to its\nmembers producing agricultural products or for the purpose of purchasing\nfood products for sale to its members, such a purchasing cooperative\ncorporation having gross receipts from such sales of less than five\nhundred thousand dollars in a calendar year, shall pay to the\ncommissioner of taxation and finance an annual fee of ten dollars, in\nlieu of all franchise or license or corporation taxes.\n 2. Each cooperative corporation organized without capital stock, with\nfederal internal revenue code section 501(c)12 status, for the purpose\nof producing and/or distributing distri
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§ 77. Annual license fee. 1. Each cooperative corporation organized,\nwith or without capital stock, for the purpose of cooperative marketing\nof agricultural products or for the purpose of making loans to its\nmembers producing agricultural products or for the purpose of purchasing\nfood products for sale to its members, such a purchasing cooperative\ncorporation having gross receipts from such sales of less than five\nhundred thousand dollars in a calendar year, shall pay to the\ncommissioner of taxation and finance an annual fee of ten dollars, in\nlieu of all franchise or license or corporation taxes.\n 2. Each cooperative corporation organized without capital stock, with\nfederal internal revenue code section 501(c)12 status, for the purpose\nof producing and/or distributing district heating and/or cooling service\nsolely for the use of its members where: (a) the heating or cooling\nfacility of such cooperative corporation is located in a city with a\npopulation of more than two hundred thousand and less than three hundred\nthousand and (b) either (i) at least thirty-five percent of such heating\nand/or cooling service as measured by relative thermal usage is\ndistributed to and used by members which qualify as organizations\ndescribed in paragraph one, two or four of subdivision (a) of section\neleven hundred sixteen of the tax law, or which qualify as cooperative\ncorporations organized without capital stock with federal internal\nrevenue code section 501(c)12 status, or (ii) is a member of a\ncooperative corporation organized without capital stock which satisfies\nthe requirements of clause (a) and item (i) of clause (b) of this\nsubdivision shall pay to the commissioner of taxation and finance an\nannual fee of ten dollars, in lieu of all franchise, license or\ncorporation taxes, or the tax imposed under section one hundred\neighty-six-a of the tax law.\n 3. Such annual fee shall be paid for each calendar year on the\nfifteenth day of March next succeeding the close of such calendar year\nbut shall not be payable after January first, two thousand twenty;\nprovided, however, that cooperative corporations described in\nsubdivisions one or two of this section shall continue to not be subject\nto the franchise, license, and corporation taxes referenced in such\nsubdivisions or, in the case of cooperative cooperations described in\nsubdivision two of this section, the tax imposed under section\none-hundred eighty-six-a of the tax law.\n