New York § 698 Deposit and disposition of revenue

New York Statutes

§ 698 — Deposit and disposition of revenue

New York § 698

Law TAXTax

Part 6Procedure and Administration

Art. 22Personal Income Tax

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Bluebook

N.Y. Tax § 698 (2026).

Text

  § 698.  Deposit and disposition of revenue.  All taxes, interest and\npenalties collected or received by the commissioner under this article\nshall be deposited and disposed of pursuant to the provisions of section\none hundred seventy-one-a of this chapter.  Notwithstanding the\nforegoing, unemployment insurance contributions and payments and\naggregate withholding taxes collected or received by the commissioner\nfrom employers in a single remittance accompanying the quarterly\ncombined withholding, wage reporting and unemployment insurance returns\nrequired by paragraph four of subsection (a) of section six hundred\nseventy-four of this article shall, if necessary, be deposited into an\naccount to be maintained jointly by the department and the department of\nlabor at such responsible 

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§ 698. Deposit and disposition of revenue. All taxes, interest and\npenalties collected or received by the commissioner under this article\nshall be deposited and disposed of pursuant to the provisions of section\none hundred seventy-one-a of this chapter. Notwithstanding the\nforegoing, unemployment insurance contributions and payments and\naggregate withholding taxes collected or received by the commissioner\nfrom employers in a single remittance accompanying the quarterly\ncombined withholding, wage reporting and unemployment insurance returns\nrequired by paragraph four of subsection (a) of section six hundred\nseventy-four of this article shall, if necessary, be deposited into an\naccount to be maintained jointly by the department and the department of\nlabor at such responsible bank, banking house or trust company as may be\ndesignated by the comptroller. The comptroller shall require adequate\nsecurity from such depository. Such departments shall determine the\nproper allocation of the monies in such account as between unemployment\ninsurance contributions and payments and aggregate withholding taxes.\nUnemployment insurance contributions and payments shall then be\ndeposited and disposed of pursuant to the provisions of title four of\narticle eighteen of the labor law, and aggregate withholding taxes shall\nbe deposited and disposed of pursuant to the provisions of sections one\nhundred seventy-one-a, thirteen hundred thirteen and thirteen hundred\nthirty-three of this chapter, as applicable.\n