§ 698. Deposit and disposition of revenue. All taxes, interest and
penalties collected or received by the commissioner under this article
shall be deposited and disposed of pursuant to the provisions of section
one hundred seventy-one-a of this chapter. Notwithstanding the
foregoing, unemployment insurance contributions and payments and
aggregate withholding taxes collected or received by the commissioner
from employers in a single remittance accompanying the quarterly
combined withholding, wage reporting and unemployment insurance returns
required by paragraph four of subsection (a) of section six hundred
seventy-four of this article shall, if necessary, be deposited into an
account to be maintained jointly by the department and the department of
labor at such responsible bank, banking house or trust company as may be
designated by the comptroller. The comptroller shall require adequate
security from such depository. Such departments shall determine the
proper allocation of the monies in such account as between unemployment
insurance contributions and payments and aggregate withholding taxes.
Unemployment insurance contributions and payments shall then be
deposited and disposed of pursuant to the provisions of title four of
article eighteen of the labor law, and aggregate withholding taxes shall
be deposited and disposed of pursuant to the provisions of sections one
hundred seventy-one-a, thirteen hundred thirteen and thirteen hundred
thirty-three of this chapter, as applicable.