NYC Taxi Commission Accused Of $810 Million Fraud
PYMNTS
FEBRUARY 21, 2020
She’s alleging the city profited by that same amount selling medallions and by collecting a 5% tax on third-party transfers. A taxicab medallion is a numbered plate required to operate a yellow cab. The price of an individual taxi medallion sold at an auction skyrocketed 240 percent from 2004 to 2014, from $283,300 to $965,000.
Let's personalize your content