Medallion Owner, Corporation

Medallion owners have a special license. This license lets you own a car that the Taxi and Limousine Commission (TLC) approves for use as a taxi. Only medallion taxicabs can pick up people who hail them on the street, anywhere in the City. The number of medallions in the City is limited by State law. However, you can transfer a medallion by law and resell it.

If you want to buy a medallion, you can find out if one is for sale by contacting a TLC licensed broker.

• Age requirement: You must be at least 19 years old.

• Contact the TLC Legal Department: You must contact the TLC Legal Department. You cannot get the application package online.

• Permit fees:

  • The Medallion Transfer Unit will tell you about all the City and TLC taxes and fees. See the Contact Information below.
  • All licenses are nontransferable, and all fees are nonrefundable.

• Accepted payment methods:

  • Money order (payable to NYC Taxi and Limousine Commission)
  • Visa
  • Mastercard
  • American Express
  • Discover

• Other license types: All other license types from the Taxi and Limousine Commission (TLC) need other individual operating licenses. For more information about TLC licensing and requirements:

  • Visit the NYC Business Express Index.
  • Go to one of the TLC Licensing Centers in person.

• License renewal payments: You can make license renewal payments online using the LARS (License Applications, Renewals and Summonses) system.

• Prerequisites and process steps: You must follow all the steps listed below. Then, visit one of the TLC offices listed under Contact Information.
• Transfer tax and medallion purchase: You must pay a transfer tax of 5 percent. You can buy a medallion or a share in a medallion. This process is complicated. It may be best to use a TLC licensed broker.
• Finding a medallion: You must find out where and how to buy a medallion. You can talk to a TLC licensed broker. Brokers have lists of clients who want to sell a medallion or shares in a medallion partnership. If you use a broker, they must be licensed by TLC. The broker will explain the process and give you the forms. See the Find a TLC Licensed Broker link above.
• Without a broker: If you do not use a broker, you need to contact the Medallion Transfer Unit. The process is different for each sale. It depends on if you are buying as a partnership, limited liability company, incorporated business, corporation or foreign business.
• Submitting documents: After you buy a medallion, you need to submit all documents to the Medallion Transfer Unit at 40 Rector St., 5th Floor, New York, NY 10006.
• Submitting fees: You must submit fees with the application form as listed below.
• Appointment: To submit an application, contact the Medallion Transfer Unit during business hours, 9 a.m. to 5 p.m., Monday through Friday, for an appointment.