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FAQs - Medallion Owners & Agents

How can I buy a medallion? 

To buy a Medallion you must be at least 18 years of age, be prepared to pay a Transfer Tax of 5%, and choose to buy either a medallion or a share in a medallion. Buying a medallion can be a complicated process. You can use a TLC licensed broker to help you. **Please note that you are not required to use a TLC licensed broker**

If you choose not to use a broker:

You will need to contact the Medallion Transfer Unit at: 212 676-1112. The process is different for each sale, based on whether you are buying as an individual, Partnership, LLC, Corp. or foreign business. Medallion Transfer Form.

If you choose to use a broker:
You must use a TLC licensed broker.
The licensed broker will explain the purchasing process to you and provide the necessary forms.Once you have closed on the sale of a medallion, you will need to submit all necessary documents to the TLC office located at 33 Beaver Street, 19th Floor, New York, NY 10004.

To find out where and how to buy a medallion, you can speak to a TLC licensed broker for more information. Brokers have a list of clients who are looking to sell a medallion or are selling shares in a medallion partnership.

List of TLC licensed Brokers
.

I own a Medallion, what do I need to do to sell my medallion? 

Selling a medallion can be a complicated process. To sell your Medallion you can use a TLC licensed broker.

***Please note, that you are not required to use a TLC Licensed broker***

If you choose not to use a broker:
You will need to contact the Medallion Transfer Unit at 212 676-1112. The process is different for each sale, based on whether you are selling as an individual, Partnership, LLC, Inc., Corp. or foreign business.

If you choose to use a broker:
You must use a TLC licensed broker. The licensed broker will explain the sale process to you and provide the necessary forms.

To sell your Medallion, you can speak to a TLC approved broker for more information. Brokers have a list of clients who are looking to buy a medallion or shares in a medallion partnership. Brokers that are licensed by the Taxi and Limousine Commission are approved to help you sell or transfer your medallion.

List of TLC licensed Brokers.

I have just closed on a medallion sale. How do I put my vehicle on the road?

For detailed information on how to put your vehicle on the road, please read the Medallion Information Guide.

I want to put my Medallion in storage. How can I do this?

Any time your vehicle is not operating as a taxi for ten (10) days or more you must surrender the Medallion and Rate Card into storage to the Medallion Licensing Unit of the TLC. This should be a    temporary condition that lasts for no more than sixty (60) days. You must get your medallion back in service as soon as possible.

To put your Medallion in storage you must:
  • Visit our LIC facility located at: 31-00 47th Avenue, 3rd floor, Long Island City, NY 11101.
  • Bring your Medallion and Rate Card.
  • Submit a completed Medallion Storage Receipt Form.
  • A letter form the agent if the Medallion is currently affiliated to an agent.

Note 1: Per TLC rule, your license may be revoked any time a vehicle is not driven as a taxi for sixty (60) days in a row.

Note 2:
You may have a broker, agent or driver submit your Medallion and Rate Card for storage. If someone other than the owner is placing the Medallion in storage they will need a notarized power of attorney signed by the owner.

How can I take my Medallion and Rate Card out of storage?

To take your Medallion out of storage you must submit the following documents to our LIC facility located at: 31-00 47th Avenue, 3rd floor, Long Island City, NY 11101.

  • Storage receipt (which was issued when placed in storage).
  • Current For Hire Insurance Certificate (FH1).
  • Certificate of Liability.
  • Current Registration.
  • A state issued photo identification (or Hack License).
  • Power of attorney (if not the owner).
  • A vehicle inspection report (VIR). If vehicle missed an inspection cycle, you can get this report from our Woodside facility located at: 24-55 BQE West, Woodside, NY 11377.
  • Latest meter Measured Mile Run (MMR). If your MMR is overdue, you can get a new certificate from a TLC licensed meter shop.
  • Approved registered vehicle.

What do I need to do to obtain a Medallion Ownership Verification Letter?

To obtain a Medallion Ownership Verification Letter you must fill out and submit the Ownership Verification request form. You can get this form in two ways; you may pick up the form in person at our Long Island City Facility located at 31-00 47th Avenue, 3rd floor, Long Island City NY 11101, or you can download the form on our website.

To submit the Medallion Ownership Verification Letter, you may do one of the following:

  • Submit your completed request form to one of our TLC representatives at Long Island City facility.
  • Fax your request to (718) 391-5695, Attn: Medallion Ownership Letter Request.
  • Mail in your request to:

    NYC Taxi & Limousine Commission
    Attn: Medallion Ownership Letter Request
    31-00 47th Avenue, 3rd floor
    Long Island City, NY 11101

NOTE: A TLC staff member will call you to notify you of a date to pick up your request form(s).

I own a Medallion and would like to Designate or Remove an Independent Medallion Driver on my record with the TLC.  How do I do this?

TLC has repealed the Owner Must Drive Requirements.  You no longer need to designate an Independent Medallion Driver to meet those requirements.

Do I need Workers’ Compensation? 

You need Workers' Compensation if you lease your medallion out to a driver.

If you think you do not need to have Workers' Compensation Insurance you will be required to obtain an Exemption Letter from Workers' Compensation. For more information, please to visit the Workers' Compensation Board's web site at: http://www.wcb.ny.gov/

You do not need to obtain Workers' Compensation insurance if you are an individual owner & driver and drive your vehicle for forty (40) or more hours each week.

How can I find out if my Workers' Compensation is current with the TLC?

To find out if your Workers' Compensation is current in our TLC records, you may contact our Call Center at 718-391-5501, or you may visit our LIC facility located at: 31-00 47th Avenue, 3rd floor, Long Island City, NY 11101.

How can I find out if my medallion is suspended or revoked?

All current medallions are listed on our web site on the TLC’s Current Licensee List.

How can I check if my vehicle insurance is current with the TLC?

If you would like information on the status of your vehicle's insurance in our TLC records, please call our Call Center at 718 391-5501, or you may visit our LIC facility located at: 31-00 47th Avenue, 3rd floor, Long Island City, NY 11101.

These FAQs are for informational purposes only and is not a full statement of your rights, duties and obligations under TLC Rules and applicable law. In the event that any of the information contained in these FAQs is not current or otherwise incorrect, TLC Rules and applicable law govern. For the complete TLC Rules, please visit our Web site at www.nyc.gov/tlc.

Inquiries may also be directed to our Call Center at: 718-391-5501