N.Y. Tax Law § 205
Current through 2024 NY Law Chapter 553
[Effective until 4/1/2026]
Of moneys collected from taxes imposed by sections one hundred eighty-three and one hundred eighty-four of this article subsequent to June thirtieth, nineteen hundred eighty-two, sixty percent shall be deposited pursuant to the provisions of section one hundred seventy-one-a of this chapter, provided that after April first, nineteen hundred ninety-six, fifty-two percent of such moneys collected on or after such date shall be so deposited; provided, further, that after January first, nineteen hundred ninety-seven, fifty and one-half percent of such moneys collected on or after such date shall be so deposited; provided, further, that after January first, nineteen hundred ninety-eight, forty-six percent of such moneys collected on or after such date shall be so deposited; provided, further, that after January first, two thousand, thirty-six percent of such moneys collected on or after such date shall be so deposited; provided, further, that after January first, two thousand one but before April first, two thousand four, twenty percent of such moneys collected on or after such date shall be so deposited; and the balance of such collections shall be deposited in the mass transportation operating assistance fund to the credit of the metropolitan mass transportation operating assistance account; provided, however, for taxable years commencing on or after January first, nineteen hundred eighty-five and ending on or before December thirty-first, nineteen hundred eighty-nine, all of the moneys collected from the tax imposed by section one hundred eighty-four of this chapter on corporations, joint-stock companies or associations formed for or principally engaged in the conduct of telephone or telegraph business shall be deposited in the mass transportation operating assistance fund to the credit of the metropolitan mass transportation operating assistance account; and provided, further, that the actual amount of moneys from the taxes imposed by sections one hundred eighty-three and one hundred eighty-four of this article which shall be deposited in such mass transportation operating assistance fund to the credit of the metropolitan mass transportation operating assistance account, pursuant to this subdivision, during the twelve month period from April first, nineteen hundred eighty-five, to and including March thirty-first, nineteen hundred eighty-six, shall not be less than sixty million dollars; provided, further, that for the twenty-four month period from April first, nineteen hundred ninety-four, to and including March thirty-first, nineteen hundred ninety-six, of the moneys so collected, sixty percent shall be deposited in the general fund pursuant to the provisions of section one hundred seventy-one-a of this chapter, thirty-four and four-tenths percent shall be deposited in the revenue accumulation fund and five and six-tenths percent shall be deposited in such mass transportation operating assistance fund to the credit of such metropolitan mass transportation operating assistance account.[Effective 4/1/2026]
Of moneys collected from taxes imposed by sections one hundred eighty-three and one hundred eighty-four of this chapter subsequent to June thirtieth, nineteen hundred eighty-two, sixty percent shall be deposited pursuant to the provisions of section one hundred seventy-one-a of this chapter, provided that after April first, nineteen hundred ninety-six, fifty-two percent of such moneys collected on or after such date shall be so deposited; provided, further, that after January first, nineteen hundred ninety-seven, fifty and one-half percent of such moneys collected on or after such date shall be so deposited; provided, further, that after January first, nineteen hundred ninety-eight, forty-six percent of such moneys collected on or after such date shall be so deposited; provided, further, that after January first, two thousand, thirty-six percent of such moneys collected on or after such date shall be so deposited; provided, further, that after January first, two thousand one, twenty percent of such moneys collected on or after such date shall be so deposited; and the balance of such collections shall be deposited in the mass transportation operating assistance fund to the credit of the metropolitan mass transportation operating assistance account; provided, however, for taxable years commencing on or after January first, nineteen hundred eighty-five and ending on or before December thirty-first, nineteen hundred eighty-nine, all of the moneys collected from the tax imposed by section one hundred eighty-four of this chapter on corporations, joint-stock companies or associations formed for or principally engaged in the conduct of telephone or telegraph business shall be deposited in the mass transportation operating assistance fund to the credit of the metropolitan mass transportation operating assistance account; and provided, further, that the actual amount of moneys from the taxes imposed by sections one hundred eighty-three and one hundred eighty-four of this chapter which shall be deposited in such mass transportation operating assistance fund to the credit of the metropolitan mass transportation operating assistance account, pursuant to this subdivision, during the twelve month period from April first, nineteen hundred eighty-five, to and including March thirty-first, nineteen hundred eighty-six, shall not be less than sixty million dollars; provided, further, that for the twenty-four month period from April first, nineteen hundred ninety-four, to and including March thirty-first, nineteen hundred ninety-six, of the moneys so collected, sixty percent shall be deposited in the general fund pursuant to the provisions of section one hundred seventy-one-a of this chapter, thirty-four and four-tenths percent shall be deposited in the revenue accumulation fund and five and six-tenths percent shall be deposited in such mass transportation operating assistance fund to the credit of such metropolitan mass transportation operating assistance account.N.Y. Tax Law § 205