Sec. 52.1. Payment of tax by use of stamps

(a) The tax must be paid by affixing and cancelling New York stock transfer tax stamps in all cases, except with respect to a transaction executed or effectuated within the State of New York by:

(1) brokers who are members of a registered securities exchange within the State of New York; or

(2) dealers in securities who are not members of such an exchange and who have filed with the commissioner written notice of their election to pay the tax to the commissioner without the use of stamps.

(b) Rebates when the tax is paid by the use of stamps.

Claims for the rebate of any tax paid when such tax is paid by the use of stamps must be presented on the appropriate form as prescribed by the department. In addition to any other information required by the department, the original purchase receipt for the stamps at issue must be included with the rebate claim.