Description
keeps 80 percent of those unclaimed deposits and the bottler or distributor keeps the other 20 percent. According to the Dept. of Environmental Conservation bottle bill page unclaimed deposits were kept by the beer and soda distributors who initiated the deposits on beverage containers,until a 2009 NY amendment required that 80% of the unclaimed deposits be remitted to the NYS Department of Taxation and Finance on a quarterly basis. Some funds will be designated for green projects.
The NYS Dept. of Taxation Beverage container deposits (ny.gov) page explains how beverage sellers may set up tax accounts to collect beverage bottle deposits."At the end of the quarter, the business pays 80% of the balance in the account to the NY Tax Department. The remaining 20% can be reserved for the business' own use to reduce the account balance to zero.
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