§ 25-c. Administrative provisions.-- Any local law adopted pursuant to\nthis article may also contain, in addition to the provisions set forth\nin section twenty-five-a of this chapter, and to the extent consistent\nwith this article, other provisions necessary and appropriate for the\nimposition, collection and administration of the tax herein authorized,\nincluding a provision substantially the same as the following:\n Whenever there is made a sale, transfer or assignment in bulk of any\npart or the whole of a stock of merchandise or of fixtures, or\nmerchandise and of fixtures pertaining to the conducting of the business\nof the seller, transferrer or assignor, otherwise than in the ordinary\ncourse of trade and in the regular prosecution of said business, the\npuchaser, transferee o
Free access — add to your briefcase to read the full text and ask questions with AI
§ 25-c. Administrative provisions.-- Any local law adopted pursuant to\nthis article may also contain, in addition to the provisions set forth\nin section twenty-five-a of this chapter, and to the extent consistent\nwith this article, other provisions necessary and appropriate for the\nimposition, collection and administration of the tax herein authorized,\nincluding a provision substantially the same as the following:\n Whenever there is made a sale, transfer or assignment in bulk of any\npart or the whole of a stock of merchandise or of fixtures, or\nmerchandise and of fixtures pertaining to the conducting of the business\nof the seller, transferrer or assignor, otherwise than in the ordinary\ncourse of trade and in the regular prosecution of said business, the\npuchaser, transferee or assignee shall at least ten days before taking\npossession of such merchandise, fixtures, or merchandise and fixtures,\nor paying therefor, notify the administrator by registered mail of the\nproposed sale and of the price, terms and conditions thereof, whether or\nnot the seller, transferrer or assignor, has represented to, or informed\nthe purchaser, transferee or assignee, that it owes any tax pursuant to\nthis local law, whether or not the purchaser, transferee or assignee has\nknowledge that such taxes are owing, and whether or not any such taxes\nare in fact owing.\n Whenever the purchaser, transferee or assignee shall fail to give the\nnotice to the administrator required by the preceding paragraph, or\nwhenever the administrator shall inform the purchaser, transferee or\nassignee that a possible claim for such tax or taxes exists, any sums of\nmoney, property or choses in action, or other consideration, which the\npurchaser, transferee or assignee is required to transfer over to the\nseller, transferrer or assignor shall be subject to a first priority\nright and lien for any such taxes theretofore or thereafter determined\nto be due from the seller, transferrer or assignor to the city, and the\npurchaser, transferee or assignee is forbidden to transfer to the\nseller, transferrer or assignor any such sums of money, property or\nchoses in action to the extent of the amount of the city's claim. For\nfailure to comply with the provisions of this subdivision the purchaser,\ntransferee or assignee, in addition to being subject to the liabilities\nand remedies imposed under the provisions of article six of the uniform\ncommercial code, shall be personally liable for the payment to the city\nof any such taxes, theretofore or thereafter determined to be due to the\ncity from the seller, transferrer or assignor and such liability may be\nassessed and enforced in the same manner as the liability for tax is\nimposed under this local law.\n