2010 New York Code
TAX - Tax
Article 12 - (270 - 281-A) TAX ON TRANSFERS OF STOCK AND OTHER CORPORATE CERTIFICATES
281-A - Alternative method of collection.

§  281-a.   Alternative method of collection.  1.  Notwithstanding any
  other provisions of this article,  the  tax  commission  may  by  rules,
  regulations  or  instructions  provide  that  the  taxes imposed by this
  article on any sale, delivery or transfer executed  or  effected  within
  this  state by any member of any securities exchange located within this
  state which is registered with the securities and exchange commission of
  the United States or by any member of a  qualified  securities  exchange
  shall  be  paid to or through such exchange located within this state or
  in the discretion of the tax commission to  or  through  its  affiliated
  clearing  corporation  by  the  person,  firm,  company  or  association
  executing or effecting the sale, delivery or transfer, without  the  use
  of  the  stamps  prescribed by this article; provided that if such taxes
  are paid through such exchange located within this state or  through  an
  affiliated  clearing  corporation,  payment by any member of a qualified
  securities exchange shall be made to a qualified securities exchange  or
  a qualified clearing corporation which has agreed to abide by the rules,
  regulations  and  instructions of the state tax commission and which the
  commission has authorized to  accept  payment  and  any  such  qualified
  securities  exchange  or  qualified  clearing corporation shall pay such
  taxes to such exchange located  within  this  state  or  its  affiliated
  clearing  corporation.  The taxes imposed by this article on any sale or
  transfer executed or effected within this state  by  any  person,  firm,
  corporation,  company  or association required to be registered with the
  attorney general of the state of New York as  a  dealer  in  securities,
  other  than  upon any such exchange, may also be paid without the use of
  the stamps prescribed by this article, under such rules and  regulations
  as  the  tax  commission may prescribe, to any agency duly authorized by
  the tax commission or to  the  tax  commission,  by  the  person,  firm,
  company,  corporation or association executing or effecting such sale or
  transfer without the use of the stamps prescribed by this article.    In
  such  event,  a  written  report  shall be made to such exchange located
  within this state, affiliated clearing corporation, authorized agency or
  the tax commission for each business day  or  such  period  as  the  tax
  commission  may  prescribe,  by  each  such  person,  corporation, firm,
  company or  association  showing  the  amount  of  tax  payable  on  all
  transactions  taxable  under  this  article  and  such  other reasonable
  information as the tax commission may prescribe, provided, however, that
  if such taxes are paid through such exchange located within  this  state
  or  its  affiliated  clearing  corporation  by  a  member of a qualified
  securities exchange, such written report shall be made to the  qualified
  securities   exchange   or  qualified  clearing  corporation,  and  such
  qualified securities exchange or qualified  clearing  corporation  shall
  render  a  report  to  such  exchange  located  within this state or its
  affiliated clearing  corporation  through  which  such  taxes  are  paid
  showing the amount of tax payable on all transactions taxable under this
  article  and such other reasonable information as the tax commission may
  prescribe.  Such reports shall be preserved for such period as  the  tax
  commission  may  prescribe.    At  the  time of making such reports, the
  amount of tax shown  to  be  due  thereon  shall  be  paid  to  the  tax
  commission  or  for the account of the tax commission to or through such
  exchange located within this state, affiliated clearing  corporation  or
  authorized   agency  and  shall  be  remitted  daily,  unless  otherwise
  prescribed by the tax commission, by such exchange, affiliated  clearing
  corporation  or  authorized agency to the tax commission together with a
  report in such form as may be prescribed by the  tax  commission.    The
  payment  of  the  tax  to  or  through  an exchange, affiliated clearing
  corporation, authorized agency or the tax commission on each transaction
  as hereinbefore provided shall be evidenced by a certification  in  such

form  and manner as the tax commission may prescribe.  In the event that
  collection of the tax  is  prescribed  without  the  use  of  stamps  as
  hereinbefore  provided,  all  of  the  provisions  of  this  article not
  inconsistent with this section shall apply.
    2.    For  the purposes of this article the following terms shall have
  the following meanings:   (a)    An  "affiliated  clearing  corporation"
  shall,  if  it has a place of business in this state, include a clearing
  corporation as defined in section 8--102 of the uniform commercial  code
  and  a  clearing  corporation  affiliated  with  a  national  securities
  exchange or association registered  with  the  securities  and  exchange
  commission  of  the United States, and the persons, firms, corporations,
  companies or associations by whom taxes may be paid without the  use  of
  stamps  may, in the discretion of the tax commission, include depositors
  in the system maintained by such clearing corporation.
    (b)  A "qualified securities exchange" shall  include  any  securities
  exchange   located   outside  this  state  or  any  national  securities
  association  which  is  registered  with  the  securities  and  exchange
  commission  of  the  United  States  and  which  is  a participant in an
  intermarket linkage system in which  one  or  more  national  securities
  exchanges located within this state is a participant of such system.
    (c)    A  "qualified  clearing  corporation"  shall include a clearing
  corporation as defined in section 8--102 of the uniform commercial  code
  which is affiliated with a qualified securities exchange.