§ 270-D — Tax surcharge

§ 270-d. Tax surcharge. 1. In addition to the tax imposed by\nsubdivision one of section two hundred seventy of this article, there is\nhereby imposed and shall immediately accrue and be collected a like\nadditional tax on all sales, agreements to sell, memoranda of sales and\nall deliveries or transfers of shares or certificates subject to tax\nunder such subdivision during the period commencing on August first,\nnineteen hundred seventy-five and ending July thirty-first, nineteen\nhundred seventy-eight. Such additional tax is at the rate of\ntwenty-five per cent of the rates of tax on sales or transfers under\nsubdivision two of section two hundred seventy and on sales under\nsubdivision one of section two hundred seventy-a and the maximum amount\nof tax on a single qualifying sale under section two hundred seventy-e\nof this article. Provided, however, that the tax so calculated shall\nnot be carried out in its computation beyond four decimal points, that\nis, it shall be computed to the nearest one one-hundredth of one cent.\n 2. All the provisions of this article shall apply with respect to the\nadditional tax imposed by this section to the same extent as if it were\nimposed by subdivision one of section two hundred seventy and expressly\nincreased the rates of tax under subdivision two of section two hundred\nseventy and subdivision one of section two hundred seventy-a and the\nmaximum amount of tax on a single taxable sale under subdivision two of\nsection two hundred seventy-a and the term "tax" as used in this article\nshall include the tax imposed by this section as well as the tax imposed\nby subdivision one of section two hundred seventy and a reference to\nsuch tax, subdivision one of section two hundred seventy or section two\nhundred seventy shall include the tax imposed by this section,\nsubdivision one of this section and this section, respectively.\n