NYC-WTC_000195490

NYC 9/11 Public Portal Document

Commercial Motor Vehicle Tax: This tax was first levied in 1960 on vehicles used for the transportation of passengers (medallion taxicabs, omnibuses and other for-hire passenger vehicles) and on all other ;o the commercial trucks and vehicles. The tax is charged at different rates, based on the purpose for which vehicles rental are used. Significant legislative changes in 1990 resulted in a revision of the rate schedules for many ooms commercial motor Vehicles. The rate for medallion taxicabs was raised to $1,000 per year, from $100 the 1986. ; previous year. Other Tor-hire passenger vehicles (livery cabs and omnibuses) pay $400 per year, a $300 iuced / increase over the 1989 rate. The rate schedule for other commercial vehicles 5 weighing less than 10,000 r day. pounds was left unchanged at $40 per year, while the rate for heavier vehicles was increased, with trucks jriced weighing over 15,000 pounds paying the highest rate of $300 per year. Medallion taxicabs pay twice a year, v'enue in December and June, while owners of other types of commercial vehicles pay annually in June. In 2001, irism. following a Department of Finance initiative the City transferred the collection and administration of the a and commercial motor vehicle tax for livery taxicabs and light trucks to the State, thereby improving the rate of to be compliance. Revenue from the tax is projected to be $43.7 million in 2001 and 2002 after collections of $51.0 million in 2000. ' ' i per 1, i) Taxi Medallion Transfer Tax: This tax is imposed at a rate of five percent of the consideration paid for C?ase, transfers of taxicab licenses (medallions). The tax is expected to generate $3.6 million in 2001'and 2002.

Lfrom EXCISE TAXES rcent, Be«r and Liquor Excise Tax: Since 1980, the City has imposed a tax on licensed distributors and non­ ig the commercial importers on the sale of beer and liquor within New York City. The current tax rate is 12 cents per gallon of beer and 26.4 cents per liter of liquor with an alcohol content greater than 24 percent. The City does pot impose a tax on wipe. The tax is administered by New York State. The tax is expected to generate $21.5 Os of million in 2001 and in 2002.

ths, a Cigarette Tax: The City has imposed a tax on the sale of cigarettes in the City since 1952. The current tse in * rate is eight cents for each, pack of 20 cigarettes and twp cents for each five cigarettes or fraction thereof past 20. This tax is imposed in addition to a State cigarette tax which is currently $1.11 per pack after the increase tith a of 55 cents effective March 1, 2000. Other tobacco products are not subject to the tax. Revenue from the cigarette tax has been steadily declining due to a reduction in cigarette consumption and the increase to the New York State tax rate per pack. Receipts from the cigarette tax are expected to be $28 million in 2001 and jprior 2002. h - f in [s are Liquor License Surcharge: This tax is imposed on distributors and non-commercial importers of beer fcthe and liquor 'it a rate of 25 percent of the license fees payable under the New York State Alcoholic Beverage Control Law. This tax is expected to generate $3.0 million in 2001 and 2002. Si'age Horse Race Admissions Tax: A three percent tax was imposed in 1952 on the price of all paid admissions to horse races held either partly or wholly within the City of New York. Revenue from this tax is expected to be $0il million in 2001 and 2002. \ fper Off-Track Betting (Dividend), and Off-Track Betting Surtax: A surcharge is exacted on most bets The placed at New York City Off-Track Betting offices, and on most bets placed statewide on races held within the New York City. The dividend payment, reflecting 0TB’s current year profit, is estimated to be $13.3 million arm in 2001 and $11.7 million in 2002. Revenue is forecast at $20.9 million from the Off-Track Betting surtax in s in 2001, and $21.3 million in 2002. is '

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NYC-WTC_000195576