N.Y. Comp. Codes R. & Regs. tit. 20 § 54.2

Current through Register Vol. 46, No. 50, December 11, 2024

Section 54.2 - Records to be maintained by out-of-state brokers and dealers in securities

(a) In support of any claimed exemption from tax, brokers and dealers in securities who are members of a registered securities exchange within the State of New York but who do not maintain a regular place of business within the State of New York, and brokers and dealers in securities who are not members of a registered securities exchange within the State of New York and who do not maintain a regular place of business in the State of New York, must maintain a certain minimum of records reflecting transactions subject to a New York State stock transfer tax and must hold these records available for inspection by representatives of the department.

(b) Such records must include entries on the blotters or other records of original entry containing the itemized record of all transactions in securities by such brokers or dealers in securities, a separate column showing the New York State stock transfer tax paid on those transactions which are subject to a New York State stock transfer tax. The ledgers or other books of account maintained by such brokers must also contain:

(1) a New York State stock transfer tax account; and

(2) a special account for securities in transfer with New York transfer agents and the tax paid on each such transfer.

(c) See Part 2402 of this Title for taxpayer record retention formats.

N.Y. Comp. Codes R. & Regs. Tit. 20 § 54.2