N.Y. Tax Law § 698: Deposit and disposition of revenue

§ 698. Deposit and disposition of revenue. All taxes, interest and

penalties collected or received by the commissioner under this article

shall be deposited and disposed of pursuant to the provisions of section

one hundred seventy-one-a of this chapter. Notwithstanding the

foregoing, unemployment insurance contributions and payments and

aggregate withholding taxes collected or received by the commissioner

from employers in a single remittance accompanying the quarterly

combined withholding, wage reporting and unemployment insurance returns

required by paragraph four of subsection (a) of section six hundred

seventy-four of this article shall, if necessary, be deposited into an

account to be maintained jointly by the department and the department of

labor at such responsible bank, banking house or trust company as may be

designated by the comptroller. The comptroller shall require adequate

security from such depository. Such departments shall determine the

proper allocation of the monies in such account as between unemployment

insurance contributions and payments and aggregate withholding taxes.

Unemployment insurance contributions and payments shall then be

deposited and disposed of pursuant to the provisions of title four of

article eighteen of the labor law, and aggregate withholding taxes shall

be deposited and disposed of pursuant to the provisions of sections one

hundred seventy-one-a, thirteen hundred thirteen and thirteen hundred

thirty-three of this chapter, as applicable.