Examples of Sales Tax Revenues in a sentence
Pursuant to the Act, Sales Tax Revenues will be available for the payment of Future Tax Secured Bonds if Personal Income Tax Revenues are projected to be insufficient to provide at least 150% of the maximum annual debt service on the Authority’s Outstanding Bonds.
For a description of the Personal Income Tax Revenues and the Sales Tax Revenues, including assumptions relating thereto and the expiration and reduction of certain portions thereof, see “—Personal Income Tax” and “—Sales Tax” below.
Sales Tax Revenues are the revenues collected from the Sales Tax less (i) administrative expenses of the New York State Financial Control Board and the Office of the State Deputy Comptroller (the “State Oversight Retention Requirements”), and (ii) State administrative costs.
Sales Tax Revenues collected by the State Comptroller for transfer to the Authority are not subject to appropriation by the State or County.
A transfer of Sales Tax Revenues to the Authority has never been required.