New York § 1148 Deposit and disposition of revenue

New York Statutes

§ 1148 — Deposit and disposition of revenue

New York § 1148

Law TAXTax

Part 4Administrative Provisions

Art. 28Sales and Compensating Use Taxes

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Bluebook

N.Y. Tax § 1148 (2026).

Text

§ 1148. Deposit and disposition of revenue.

(a)All taxes, interest\nand penalties collected or received by the commissioner under this\narticle shall be deposited and disposed of pursuant to the provisions of\nsection one hundred seventy-one-a of this chapter; provided however, the\ncomptroller shall on or before the twelfth day of each month, pay all\nsuch taxes, interest and penalties collected under this article and\nremaining to the comptroller's credit in such banks, banking houses or\ntrust companies at the close of business on the last day of the\npreceding month, into the general fund of the state treasury.\n (b) Provided however, before the funds may be distributed pursuant to\nsubdivision (a) of this section, such funds shall be distributed as\notherwise provided in sections

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§ 1148. Deposit and disposition of revenue. (a) All taxes, interest\nand penalties collected or received by the commissioner under this\narticle shall be deposited and disposed of pursuant to the provisions of\nsection one hundred seventy-one-a of this chapter; provided however, the\ncomptroller shall on or before the twelfth day of each month, pay all\nsuch taxes, interest and penalties collected under this article and\nremaining to the comptroller's credit in such banks, banking houses or\ntrust companies at the close of business on the last day of the\npreceding month, into the general fund of the state treasury.\n (b) Provided however, before the funds may be distributed pursuant to\nsubdivision (a) of this section, such funds shall be distributed as\notherwise provided in sections ninety-two-d, ninety-two-h, and\nninety-two-r of the state finance law and sections eleven hundred two,\neleven hundred four and eleven hundred nine of this article.\n (c) Provided however, after funds are distributed pursuant to\nsubdivision (b) of this section but before such funds are distributed\npursuant to subdivision (a) of this section, funds shall be deposited by\nthe comptroller into the New York central business district trust fund\nestablished pursuant to section ninety-nine-ff of the state finance law\nin accordance with the following schedule: (1) in state fiscal year two\nthousand nineteen - two thousand twenty, one hundred twelve million five\nhundred thousand dollars; (2) in state fiscal year two thousand twenty -\ntwo thousand twenty-one, one hundred fifty million dollars; and (3) in\nstate fiscal year two thousand twenty-one - two thousand twenty-two and\nevery succeeding state fiscal year, an amount equal to one hundred one\npercent of the amount deposited in the immediately preceding state\nfiscal year. The funds deposited into the New York central business\ndistrict trust fund shall be deposited monthly in equal installments.\n