N.Y. Tax Law § 277
Penalties; how recovered
New York · New York Tax Law · Status: effective · Effective 2014-09-22
Cite this
- Citation
- N.Y. Tax Law § 277, Penalties; how recovered, New York, version 1 as recorded 2026-07-25, yourstate.us, https://yourstate.us/provision/1132005
- Permanent ID
ys:prov:1132005@1- SHA-256
f995d9dfb0e00c0f7c4884893d5ad4340edf40d12e5bb4305e7aac0244204329
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
§ 277. Penalties; how recovered. Any person, firm, company,
association or corporation, or business conducted by a trustee or
trustees that shall violate any of the provisions of section two hundred
seventy, section two hundred seventy-a or section two hundred
seventy-two of this chapter shall, in addition to the other penalties
provided for in this article, be subject to a penalty of one dollar for
each and every share of stock or of other interest taxable under this
article so sold or transferred, or transferred or entered upon the books
of the corporation or trustees, as the case may be, without the payment
of the tax by this article imposed thereon. Such penalty may be
compromised by the tax commission. Any person who shall violate any of
the other provisions of this article shall, in addition to the other
penalties provided for in this article, be subject to a penalty of five
hundred dollars for each and every such violation.
The attorney-general at the instance of the tax commission shall bring
an action in its name as such tax commission in any court of competent
jurisdiction for the recovery of any penalty imposed by this section.
All moneys collected as penalties shall be paid into the stock transfer
tax fund. In an action against a corporation or trustees, or its or
their transfer agent to recover a penalty because of the transfer of a
certificate, upon the books or records of the corporation or trustees
without requiring the payment of the tax by this article imposed, the
failure of the corporation or trustees or its or their transfer agent,
on the demand of the tax commission or its duly authorized
representative, to produce the surrendered certificate or memoranda of
sale with the required stamps and any declaration prescribed by
paragraph (c) of subdivision one of section two hundred seventy-a of
this chapter, if required, attached, shall constitute prima facie proof
of the nonpayment of the taxes imposed by section two hundred seventy
and section two hundred seventy-a of this chapter.