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<p><strong>Who Has to Pay This Tax?</strong></p> <p>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.</p> <p>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.</p> <p><strong>Who is Exempt from the Tax?<br /></strong>The following transactions are exempt from the tax:</p> <p>Transactions by or with New York State, a political subdivision of the State, or a public benefit corporation;</p> <p>Transactions by or with the United States;</p> <p>Transactions by or with the United Nations;</p> <p>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</p> <p>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).</p>