New York Codes, Rules and Regulations
Title 20 - DEPARTMENT OF TAXATION AND FINANCE
Chapter IX - Procedural Regulations
Part 2402 - Taxpayer Record Retention Formats
Section 2402.1 - Taxpayer's option to choose a record retention format

Universal Citation: 20 NY Comp Codes Rules and Regs ยง 2402.1

Current through Register Vol. 46, No. 12, March 20, 2024

(a) Taxpayer's option to choose. Notwithstanding any other provision of this Title and unless specifically provided for otherwise by law, any record that is required to be retained by a taxpayer may be retained pursuant to the provisions of this Part in either hard-copy format or electronic format (or both) at the discretion of the taxpayer. For examples of statutory exceptions to allowing the retention of records electronically, see section 307 of the State Electronic Signatures and Records Act (New York State Technology Law, section 301 et seq.) and section 7003 of the Federal Electronic Signatures in Global and National Commerce Act ( 15 U.S.C.A., section 7001 et seq.).

(b) Application of this Part.

(1) The provisions of this Part apply only to the format in which taxpayer records are to be maintained. The nature, content, retention periods, and other specific details concerning records are discussed elsewhere in the Tax Law, other applicable laws concerning matters under the jurisdiction of the Commissioner of Taxation and Finance, and this Title.

(2) This Part does not apply to any activities conducted with the Department of Taxation and Finance, such as the filing of returns or the payment of taxes. See, for example, Part 2396 of this Title concerning the Electronic Filing and Funds Transfer Program for certain taxpayers remitting withholding tax.

(3) This Part does not apply to any warning, notice, disclosure, or other record that is required to be posted, displayed, or publicly affixed. Examples of these records include the certificates of registration that are required to be publicly displayed by retail dealers of cigarettes pursuant to section 480-a of the Tax Law, decals that are required to be displayed on qualified motor vehicles pursuant to section 522 of the Tax Law, and certificates of authority that are required to be prominently displayed by sales tax vendors pursuant to section 1134 of the Tax Law.

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