New York Tax Law Section 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.

Last modified: February 3, 2019