§ 515. Disposition of revenues. All taxes, interest, penalties and fees collected or received pursuant to this article shall be deposited daily in one account with such responsible banks, banking houses or trust companies as may be designated by the comptroller, and to the credit of the comptroller on account of the dedicated highway and bridge trust fund established pursuant to section eighty-nine-b of the state finance law. Such an account may be established in one or more of such depositories and such deposits shall be kept separate and apart from all other moneys in the possession of the comptroller. The comptroller shall require adequate security from all such depositories.
Of the revenues so deposited, the comptroller shall retain in his hands such amount as the commissioner of taxation and finance may determine to be necessary for refunds or reimbursements of the taxes collected or received pursuant to this article to which taxpayers shall be entitled under the provisions of this article, out of which amount the comptroller shall pay any refunds or reimbursements of the taxes collected or received pursuant to this article to which taxpayers shall be entitled under such provisions. The comptroller, after reserving the amount to pay such refunds or reimbursements, shall, on or before the last day of each month, pay the balance of the revenue so deposited during such month into the dedicated highway and bridge trust fund established pursuant to section eighty-nine-b of the state finance law.
Notwithstanding the foregoing or any other law to the contrary, the comptroller shall deposit all monies collected on account of the registration fees imposed pursuant to section five hundred two-a and subdivision eight of section five hundred nine of this article into the highway use tax administration account established pursuant to section ninety-nine-y of the state finance law. The monies deposited in such account shall be available to the commissioner for the costs of issuing the certificates of registration and highway use tax decals required by this article and for any other costs of administering the provisions of sections five hundred two, five hundred two-a and five hundred nine of this article. Any moneys not used in a given year shall be returned to such account and be added to the total funds available for disbursement in the succeeding year.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.