NY A07923

Amends tax law to compute sales and compensating use taxes on retail motor fuel and diesel motor fuel at a rate of cents per gallon (rounded to nearest cent), multiplied by the cost of the fuel, as determined quarterly by the Commissioner.

Requires prepayment of sales and compensating use taxes on each gallon of motor fuel imported, manufactured, or sold in New York State, or diesel motor fuel sold or used in the state, pursuant to section 1102 of the tax law.

Takes effect on the first day of a sales tax quarterly period occurring at least 90 days after enactment, with application governed by transitional provisions in sections 1106 and 1217 of the tax law.