§ 12-14 Records to Be Kept.
RCNY § 12-14
Every operator is required to keep records of room rentals and of the tax payable thereon. In addition to the general books of account, such records shall also include guests' registration records, rental contracts and leases, banquet records wherever applicable and such other records as will enable the Commissioner of Finance to determine the room rentals and the proportionate part of receipts from sale of food and/or drink which under these regulations constitutes rentals. In addition to the above records, operators must also retain all exemption certificates filed by exempt organizations and by the Federal government, or by the State or City of New York, or by an agency of such governments, and records of all other rentals which are not subject to tax. Exemption certificates from occupants who are not entitled to exemption should not be accepted, and the Commissioner of Finance will reject any exemption certificate obtained from an occupant who is not entitled to exemption. The records hereinabove prescribed are in addition to all other records which must be retained by an operator as provided for in any other State or City tax law. Unless the operator maintains adequate records showing rentals and the tax due thereon, the Commissioner of Finance reserves the right to determine the amount of such rentals and the tax due thereon from such information as may be obtainable and, if necessary, the tax may be estimated on the basis of external indices, such as the number of rooms, location, scale of rents, comparable rents, type of accommodation and service, number of employees and/or other factors. Records of operators are to be open for inspection and examination at any time upon demand by the Commissioner of Finance or his duly authorized agent or employee and must be preserved for a period of three years unless permission in writing is obtained from the Commissioner of Finance to destroy them before the expiration of such period.
