§ 171-Z — Information sharing with the comptroller regarding unclaimed funds

New York § 171-Z

• Jurisdiction: New York
• Law TAX: Tax
• Art. 8: Department of Taxation and Finance; Commissioner of Taxation and Finance

Text

§ 171-z. Information sharing with the comptroller regarding unclaimed\nfunds. 1. Notwithstanding any other law, the commissioner is authorized\nto release to the comptroller information regarding fixed and final\nunwarranted debts of taxpayers for purposes of collecting unclaimed\nfunds from the comptroller to satisfy fixed and final unwarranted debts\nowed by taxpayers. For purposes of this section, the term "unwarranted\ndebt" shall mean past-due tax liabilities, including unpaid tax,\ninterest and penalty, that the commissioner is required by law to\ncollect and that have become fixed and final such that the taxpayer no\nlonger has any right to administrative or judicial review and a warrant\nhas not been filed; and the term "taxpayer" shall mean any individual,\ncorporation, partnership, limited liability partnership or company,\npartner, member, manager, sole proprietorship, estate, trust, fiduciary\nor entity, who or which has been identified as owing taxes to the state.\nThis section shall not be deemed to abrogate or limit in any way the\npowers and authority of the comptroller to set off debts owed the state\nfrom unclaimed funds, under the constitution of the state or any other\nlaw.\n 2. The comptroller shall keep all information he or she obtains from\nthe commissioner confidential, and any employee, agent or representative\nof the comptroller is prohibited from disclosing any taxpayer\ninformation received under this section to anyone other than the\ncommissioner or staff of the department or staff of the department of\naudit and control for the purposes described in this section.\n