State Codes and Statutes

Statutes > New-york > Pml > Article-4 > 426

§  426.  Disposition  of  unpaid  money  due on account of pari-mutuel  tickets not presented. The sum held by any  corporation  or  association  authorized  to  conduct  pari-mutuel  betting for payment of outstanding  winning pari-mutuel tickets and for refunding the price  of  pari-mutuel  tickets  shall  be  retained by such corporation or association for such  purposes until April first of the succeeding  year;  provided,  however,  that  ninety-five  per  centum of such sum remaining unclaimed as of the  last day of February of such  year  shall  be  paid  to  the  state  tax  commission  by  March fifteenth. On April tenth, the balance of such sum  remaining unclaimed and any  other  unclaimed  amount  received  in  the  course  of conducting pari-mutuel betting shall be paid to the state tax  commission. A penalty of five per centum and interest at the rate of one  per centum per month from the due date to the date  of  payment  of  the  unclaimed  balance  due  March fifteenth or April tenth, as the case may  be, shall be payable in the case such balance is not paid when due. Such  amounts, interest and penalties when collected  shall  be  paid  by  the  state tax commission into the general fund of the state treasury.

State Codes and Statutes

Statutes > New-york > Pml > Article-4 > 426

§  426.  Disposition  of  unpaid  money  due on account of pari-mutuel  tickets not presented. The sum held by any  corporation  or  association  authorized  to  conduct  pari-mutuel  betting for payment of outstanding  winning pari-mutuel tickets and for refunding the price  of  pari-mutuel  tickets  shall  be  retained by such corporation or association for such  purposes until April first of the succeeding  year;  provided,  however,  that  ninety-five  per  centum of such sum remaining unclaimed as of the  last day of February of such  year  shall  be  paid  to  the  state  tax  commission  by  March fifteenth. On April tenth, the balance of such sum  remaining unclaimed and any  other  unclaimed  amount  received  in  the  course  of conducting pari-mutuel betting shall be paid to the state tax  commission. A penalty of five per centum and interest at the rate of one  per centum per month from the due date to the date  of  payment  of  the  unclaimed  balance  due  March fifteenth or April tenth, as the case may  be, shall be payable in the case such balance is not paid when due. Such  amounts, interest and penalties when collected  shall  be  paid  by  the  state tax commission into the general fund of the state treasury.

State Codes and Statutes

State Codes and Statutes

Statutes > New-york > Pml > Article-4 > 426

§  426.  Disposition  of  unpaid  money  due on account of pari-mutuel  tickets not presented. The sum held by any  corporation  or  association  authorized  to  conduct  pari-mutuel  betting for payment of outstanding  winning pari-mutuel tickets and for refunding the price  of  pari-mutuel  tickets  shall  be  retained by such corporation or association for such  purposes until April first of the succeeding  year;  provided,  however,  that  ninety-five  per  centum of such sum remaining unclaimed as of the  last day of February of such  year  shall  be  paid  to  the  state  tax  commission  by  March fifteenth. On April tenth, the balance of such sum  remaining unclaimed and any  other  unclaimed  amount  received  in  the  course  of conducting pari-mutuel betting shall be paid to the state tax  commission. A penalty of five per centum and interest at the rate of one  per centum per month from the due date to the date  of  payment  of  the  unclaimed  balance  due  March fifteenth or April tenth, as the case may  be, shall be payable in the case such balance is not paid when due. Such  amounts, interest and penalties when collected  shall  be  paid  by  the  state tax commission into the general fund of the state treasury.