New York Court of Appeals
In the Matter of General Electric Capital Corporation, Appellant v. New York State Division of Tax Appeals, Tax…
April 1, 20042 N.Y.3d 249
Summary
The New York Court of Appeals affirmed the Appellate Division, holding that the Department of Taxation and Finance's regulation 20 NYCRR 534.7(b)(3) barring third‑party assignees from sales‑tax refunds is authorized by Tax Law §1132(e), does not violate the General Obligations Law assignment provisions, and is a rational exercise of agency discretion.