Taxicab License Transfer Tax

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Who Has to Pay This Tax?

If you transfer a taxicab license, the buyer must pay the transfer tax. If the buyer does not pay the tax, the seller will be held responsible for the tax.

If you transfer a controlling interest in a taxicab license (transferring shares of stock or the interest of an entity that owns the license) then it is treated as a transfer of the license. The new controlling entity must pay the tax.

Who is Exempt from the Tax? The following transactions are exempt from the tax:

Transactions by or with New York State, a political subdivision of the State, or a public benefit corporation;

Transactions by or with the United States;

Transactions by or with the United Nations;

Transactions by or with not-for-profit organizations that were formed and operated exclusively for religious, charitable, or educational purposes or for the prevention of cruelty to children or animals; and

Transfers of taxicab licenses or interests in licenses by means of a lease, license, or other rental arrangement, where the term does not exceed six months (including the maximum period for which the term can be extended or renewed).

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The rate is 5% of the consideration which is subject to tax.

List of accepted payment methods.

  • Check
  • Money Order
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How to Apply
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After You Apply
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Returns must be filed at the time of payment of the tax, no later than 30 days following the transfer.
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Form NYC-TCLT must be completed jointly by the Transferee and Transferor. The required payment is made to the order of: NYC Department of Finance.
The Transferee is required to pay the tax. The Transferor is liable for payment of the tax if it is not paid by the transferee. No transfer of a taxicab license or interest in the license can be approved by the Taxi and Limousine Commission until the tax has been paid.
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Additional Resources
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Taxicab Transfer License Tax Return
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