If you sell a taxicab license, the buyer must pay the transfer tax. If the buyer does not pay, the seller must pay the tax.

If you sell a controlling interest in a taxicab license, it is treated as a transfer of the license. The new owner must pay the tax.

These transactions are exempt from the tax:

• Transactions with New York State, a political subdivision of the State or a public benefit corporation
• Transactions with the United States
• Transactions with the United Nations
• Transactions with not-for-profit groups formed and operated exclusively for religious, charitable or educational purposes or to prevent cruelty to children or animals
• Transfers of taxicab licenses or interests in licenses by lease, license or rental where the term is six months or less

• The tax rate is 5 percent of the amount paid.

• Accepted payment methods:

  • Check
  • Money order

You must file returns when you pay the tax. You must file returns no later than 30 days after the transfer.

• Complete Form NYC-TCLT: Both the buyer and seller must fill out the form. Pay the tax to the NYC Department of Finance.
• The buyer must pay the tax: If the buyer does not pay, the seller must pay. The Taxi and Limousine Commission will not approve the transfer until the tax is paid.