N.Y. Tax Law § 277: Penalties; how recovered

§ 277. Penalties; how recovered. Any person, firm, company,

association or corporation, or business conducted by a trustee or

trustees that shall violate any of the provisions of section two hundred

seventy, section two hundred seventy-a or section two hundred

seventy-two of this chapter shall, in addition to the other penalties

provided for in this article, be subject to a penalty of one dollar for

each and every share of stock or of other interest taxable under this

article so sold or transferred, or transferred or entered upon the books

of the corporation or trustees, as the case may be, without the payment

of the tax by this article imposed thereon. Such penalty may be

compromised by the tax commission. Any person who shall violate any of

the other provisions of this article shall, in addition to the other

penalties provided for in this article, be subject to a penalty of five

hundred dollars for each and every such violation.

The attorney-general at the instance of the tax commission shall bring

an action in its name as such tax commission in any court of competent

jurisdiction for the recovery of any penalty imposed by this section.

All moneys collected as penalties shall be paid into the stock transfer

tax fund. In an action against a corporation or trustees, or its or

their transfer agent to recover a penalty because of the transfer of a

certificate, upon the books or records of the corporation or trustees

without requiring the payment of the tax by this article imposed, the

failure of the corporation or trustees or its or their transfer agent,

on the demand of the tax commission or its duly authorized

representative, to produce the surrendered certificate or memoranda of

sale with the required stamps and any declaration prescribed by

paragraph (c) of subdivision one of section two hundred seventy-a of

this chapter, if required, attached, shall constitute prima facie proof

of the nonpayment of the taxes imposed by section two hundred seventy

and section two hundred seventy-a of this chapter.