§ 1333 — Deposit and disposition of revenues

New York § 1333

• Jurisdiction: New York
• Law TAX: Tax
• Art. 30-A: City Income Tax Surcharge

Text

§ 1333. Deposit and disposition of revenues. All revenue collected by\nthe commissioner of taxation and finance from the tax imposed by any\ncity pursuant to the authority of this article or article thirty-B of\nthis chapter shall be deposited daily with such responsible banks,\nbanking houses or trust companies, as may be designated by the state\ncomptroller, to the credit of the comptroller, in trust for such city.\nSuch deposits shall be kept in trust and separate and apart from all\nother moneys in the possession of the comptroller. The comptroller shall\nrequire adequate security from all such depositories of such revenue\ncollected by the commissioner of taxation and finance. The comptroller\nshall retain in his hands such amount as the commissioner of taxation\nand finance may determine to be necessary for refunds in respect to the\ntax imposed by such city pursuant to the authority of this article or\narticle thirty-B of this chapter and for reasonable costs of the\ncommissioner of taxation and finance in administering, collecting and\ndistributing such taxes, out of which the comptroller shall pay any\nrefunds of such taxes to which the taxpayer shall be entitled under any\nlaw enacted by such city pursuant to the authority of this article or\narticle thirty-B of this chapter. The comptroller, after reserving such\nrefund fund and such cost shall, on or before the fifteenth day of each\nmonth, pay to the chief fiscal officer of such city the balance of such\ntaxes collected, to be paid into the treasury of such city to the credit\nof the general fund except that he shall pay to the state department of\nsocial services that amount of overpayments of the tax imposed by such\ncity pursuant to the authority of this article or article thirty-B of\nthis chapter and the interest on such amount which is certified to him\nby the commissioner of taxation and finance as the amount to be credited\nagainst past-due support pursuant to subdivision six of section one\nhundred seventy-one-c of this chapter and except that he shall pay to\nthe New York state higher education services corporation that amount of\noverpayments of the tax imposed by such city pursuant to the authority\nof this article or article thirty-B of this chapter and the interest on\nsuch amount which is certified to him by the commissioner of taxation\nand finance as the amount to be credited against the amount of defaults\nin repayment of guaranteed student loans pursuant to subdivision five of\nsection one hundred seventy-one-d of this chapter and except that he\nshall pay to the state university of New York or the city university of\nNew York respectively that amount of overpayments of the tax imposed by\nsuch city pursuant to the authority of this article or article thirty-B\nof this chapter and the interest on such amount which is certified to\nhim by the commissioner of taxation and finance as the amount to be\ncredited against the amount of defaults in repayment of state or city\nuniversity loans pursuant to subdivision six of section one hundred\nseventy-one-e of this chapter and except that, notwithstanding any other\nprovision of law, he shall credit to the revenue arrearage account,\npursuant to section ninety-one-a of the state finance law, that amount\nof overpayments of the taxes imposed pursuant to the authority of this\narticle or article thirty-B of this chapter and the interest on such\namount which is certified to him by the commissioner of taxation and\nfinance as the amount to be credited against a past-due legally\nenforceable debt owed to a state agency pursuant to paragraph (a) of\nsubdivision six of section one hundred seventy-one-f of this chapter,\nprovided, however, he shall credit to the special offset fiduciary\naccount, pursuant to section ninety-one-c of the state finance law, any\nsuch amount creditable as a liability as set forth in paragraph (b) of\nsubdivision six of section one hundred seventy-one-f of this chapter and\nexcept that he shall pay to the city of New York that amount of\noverpayments of tax imposed pursuant to the authority of this article or\narticle thirty-B of this chapter and the interest on such amount which\nis certified to him by the commissioner of taxation and finance as the\namount to be credited against city of New York tax warrant judgment debt\npursuant to section one hundred seventy-one-l of this chapter, and\nexcept further that he/she shall pay to a non-obligated spouse that\namount of overpayment of tax imposed by such city pursuant to the\nauthority of this article or article thirty-B of this chapter and the\ninterest on such amount which has been credited pursuant to section one\nhundred seventy-one-c, one hundred seventy-one-d, one hundred\nseventy-one-e, one hundred seventy-one-f or one hundred seventy-one-l of\nthis chapter and which is certified to him by the commissioner of\ntaxation and finance as the amount due such non-obligated spouse\npursuant to paragraph six of subsection (b) of section six hundred\nfifty-one of this chapter, and he shall deduct a like amount which he\nshall pay into the treasury to the credit of the general fund from\namounts subsequently payable to the department of social services, the\nstate university of New York, the city university of New York, or the\nhigher education services corporation or to the revenue arrearage\naccount or special offset fiduciary account pursuant to section\nninety-one-a or ninety-one-c of the state finance law, as the case may\nbe, whichever had been credited the amount originally withheld from such\noverpayment. The amount deducted for administering, collecting and\ndistributing such taxes during such monthly period shall be paid by the\ncomptroller into the general fund of the state treasury to the credit of\nthe state purposes account therein. The first payment to such chief\nfiscal officer shall be made on or before March fifteenth, nineteen\nhundred eighty-five, which payment shall represent the balance of\nrevenue after provision for refund and such reasonable costs, with\nrespect to taxes collected in nineteen hundred eighty-four. Subsequent\npayments shall be made on or before April fifteenth, nineteen hundred\neighty-five, and on or before the fifteenth day of each succeeding month\nthereafter, and shall represent the balance of revenue with respect to\ntaxes collected the preceding calendar months. The amounts so payable\nshall be certified to the comptroller by the commissioner of taxation\nand finance or his delegate, either of whom shall not be held liable for\nany inaccuracy in such certificate. Where the amount so paid over to\nsuch chief fiscal officer is more or less than the amount then due such\ncity, the amount of overpayment or underpayment shall be certified to\nthe comptroller by the commissioner of taxation and finance or his\ndelegate, either of whom shall not be held liable for any inaccuracy in\nsuch certificate. The amount of overpayment or underpayment shall be so\ncertified to the comptroller as soon after the discovery of the\noverpayment or underpayment as reasonably possible and subsequent\npayments by the comptroller to such chief fiscal officer shall be\nadjusted by subtracting the amount of any such overpayment from, or by\nadding the amount of any such underpayment to such number of subsequent\npayments and distributions as the comptroller and the commissioner of\ntaxation and finance shall consider reasonable in view of the amount of\nthe overpayment or underpayment and all other facts and circumstances.\n