Bill > A02425

This bill amends the Tax Law to compute the 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. The bill also requires the prepayment of these taxes on each gallon of fuel that is imported, manufactured, or sold in New York. The bill will take effect on the first day of a sales tax quarterly period, at least 90 days after it becomes law, and will apply in accordance with the applicable transitional provisions of the Tax Law.