New York Cooperative Corporations Law Section 77 - Annual License Fee

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    § 77.  Annual license fee. 1. Each cooperative corporation organized,
  with or without capital stock, for the purpose of cooperative  marketing
  of  agricultural  products  or  for  the  purpose of making loans to its
  members producing agricultural products or for the purpose of purchasing
  food products for sale to its members,  such  a  purchasing  cooperative
  corporation  having  gross  receipts  from  such sales of less than five
  hundred  thousand  dollars  in  a  calendar  year,  shall  pay  to   the
  commissioner  of  taxation  and finance an annual fee of ten dollars, in
  lieu of all franchise or license or corporation taxes.
    2. Each cooperative corporation organized without capital stock,  with
  federal  internal  revenue code section 501(c)12 status, for the purpose
  of producing and/or distributing district heating and/or cooling service
  solely for the use of its members where:  (a)  the  heating  or  cooling
  facility  of  such  cooperative  corporation is located in a city with a
  population of more than two hundred thousand and less than three hundred
  thousand and (b) either (i) at least thirty-five percent of such heating
  and/or  cooling  service  as  measured  by  relative  thermal  usage  is
  distributed  to  and  used  by  members  which  qualify as organizations
  described in paragraph one, two or four of subdivision  (a)  of  section
  eleven  hundred  sixteen of the tax law, or which qualify as cooperative
  corporations organized  without  capital  stock  with  federal  internal
  revenue  code  section  501(c)12  status,  or  (ii)  is  a  member  of a
  cooperative corporation organized without capital stock which  satisfies
  the  requirements  of  clause  (a)  and  item  (i) of clause (b) of this
  subdivision shall pay to the commissioner of  taxation  and  finance  an
  annual  fee  of  ten  dollars,  in  lieu  of  all  franchise, license or
  corporation  taxes,  or  the  tax  imposed  under  section  one  hundred
  eighty-six-a of the tax law.
    3. Such  annual  fee  shall  be  paid  for  each  calendar year on the
  fifteenth day of March next succeeding the close of such calendar year.

Last modified: August 9, 2006