Revenue sharing is a funding arrangement in which one government unit grants a portion of its tax income to another government unit. For example, provinces or states may share revenue with local governments, or national governments may share revenue with provinces or states. Laws determine the formulas by which revenue is shared, limiting the controls that the unit supplying the money can exercise over the receiver and specifying whether matching funds must be supplied by the receiver.
This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
The Suffolk New York Revenue Sharing Agreement is a contractual agreement established between the various municipalities within Suffolk County, New York, to proportionally distribute tax revenues generated from specific sources. This agreement aims to fairly distribute funds among participating municipalities based on their respective contributions to the revenue source. One type of revenue sharing agreement in Suffolk County is the Sales Tax Revenue Sharing Agreement. Under this agreement, a predetermined percentage of the sales tax revenues collected within the county is distributed among the participating municipalities. This ensures that each municipality receives a share of the revenue that corresponds to its population size, economic activity, or other agreed-upon factors. Another type of revenue sharing agreement in Suffolk County is the Property Tax Revenue Sharing Agreement. This agreement typically involves the redistribution of property tax revenues collected within the county. The purpose is to address disparities in property values and ensure that each municipality receives a fair portion of the revenue generated from this source. Additionally, the Suffolk New York Revenue Sharing Agreement may include agreements for revenue sharing from other sources, such as hotel occupancy taxes, fuel taxes, or other locally generated revenues. These agreements are designed to create a balanced and equitable distribution of funds, allowing municipalities to provide essential services and infrastructure improvements to their residents. The Suffolk New York Revenue Sharing Agreement plays a crucial role in fostering cooperation and collaboration among municipalities in Suffolk County. By sharing tax revenues, it helps mitigate financial disparities, promotes regional development, and ensures that local governments can effectively serve their communities.The Suffolk New York Revenue Sharing Agreement is a contractual agreement established between the various municipalities within Suffolk County, New York, to proportionally distribute tax revenues generated from specific sources. This agreement aims to fairly distribute funds among participating municipalities based on their respective contributions to the revenue source. One type of revenue sharing agreement in Suffolk County is the Sales Tax Revenue Sharing Agreement. Under this agreement, a predetermined percentage of the sales tax revenues collected within the county is distributed among the participating municipalities. This ensures that each municipality receives a share of the revenue that corresponds to its population size, economic activity, or other agreed-upon factors. Another type of revenue sharing agreement in Suffolk County is the Property Tax Revenue Sharing Agreement. This agreement typically involves the redistribution of property tax revenues collected within the county. The purpose is to address disparities in property values and ensure that each municipality receives a fair portion of the revenue generated from this source. Additionally, the Suffolk New York Revenue Sharing Agreement may include agreements for revenue sharing from other sources, such as hotel occupancy taxes, fuel taxes, or other locally generated revenues. These agreements are designed to create a balanced and equitable distribution of funds, allowing municipalities to provide essential services and infrastructure improvements to their residents. The Suffolk New York Revenue Sharing Agreement plays a crucial role in fostering cooperation and collaboration among municipalities in Suffolk County. By sharing tax revenues, it helps mitigate financial disparities, promotes regional development, and ensures that local governments can effectively serve their communities.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.
