Bill > A06776

This bill amends the New York Tax Law to compute sales and compensating use tax on retail sales of motor fuel and diesel motor fuel at a rate of cents per gallon, rounded to the nearest cent, multiplied by the cost of the fuel. It also requires prepayment of the sales and compensating use taxes on imported, manufactured, or sold motor fuel, and on sold or used diesel motor fuel. The bill will take effect on the first day of a sales tax quarterly period, starting at least 90 days after it becomes law, and will apply in accordance with the relevant transitional provisions of the Tax Law.