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A corporate medallion, called a Minifleet Medallion in TLC's rules, is a taxi medallion that "is classified and must be owned in groups of at least two" (35 RCNY 51-03). It is the opposite of an independent medallion, which an owner may hold only one of. There is no upper limit on how many corporate medallions one owner can have.
Where the term comes from
The split goes back to the Haas Act of 1937, which froze the number of taxi licenses at 13,500 and set the ratio of corporate to independent medallions at 58 to 42. In 2017 TLC described corporate medallions as "typically owned by corporations" and owned "in groups of two or more with no limit on the number that can be owned" (TLC testimony, Feb 27, 2017). TLC also said then that independent medallions had historically sold for less than corporate ones, because fewer buyers could buy them.
What today's rules say
The category still matters when a medallion is sold. Under rule 58-44(d):
A minifleet is "a Business Entity licensed by the Commission to own and operate two or more taxicabs," and TLC's definition adds that minifleets "often contract with a Fleet for the daily storage and dispatch of its Taxicabs" (51-03). A full taxi fleet is bigger: it controls at least 25 taxis.
Where drivers see it
You won't see "corporate" on your hack license or receipt. You meet it in two places:
- Who you lease from. Minifleet cabs are often operated by a fleet or a medallion agent, so your lease, deposit and receipts come from that business. Lease caps are the same for every medallion class.
- TLC's open data. The authorized medallion vehicle list has a
medallion_typefield that TLC describes as "single (independent) or multiple (fleet)", but its two values are Named Driver (6,232 cabs on October 12, 2026) and Owner Must Drive (4,003). TLC does not say which value is which. We read Named Driver as the corporate side; why, and the full chart, are on named driver medallion.
Related terms
Independent medallion · named driver medallion · taxi fleet · medallion. For the full picture of every label, read taxi medallion types explained. Price trends by class are on medallion price history and sales on medallion transfers and foreclosures. More on the medallions hub.
Frequently asked questions
What is a corporate medallion?
A class of NYC taxi medallion that must be owned in groups of at least two. TLC's rules call it a Minifleet Medallion (35 RCNY 51-03). In 2017 TLC described corporate medallions as 'typically owned by corporations' and owned 'in groups of two or more with no limit on the number that can be owned.'
Can one person buy a single corporate medallion?
Not as a single medallion. Rule 58-44(d) says a minifleet medallion can only be transferred to a buyer approved to own and operate a fleet or minifleet, and a minifleet is a business licensed to own and operate two or more taxis.
Is a corporate medallion the same as a fleet?
No. A fleet is a business that controls at least 25 taxis and runs a garage with a dispatcher. A minifleet owns two or more medallions and, TLC's definition notes, often contracts with a fleet for storage and dispatch.
Does it matter to me as a driver?
Not for your license. It changes who owns the cab and often who you lease from: TLC notes that minifleets often contract with a fleet for storage and dispatch, so your lease and receipts may come from that fleet or from a licensed agent rather than the owner.
Sources
Last reviewed against the official sources on .
- TLC Rule Book, Chapter 51 (Definitions: Minifleet, Minifleet Medallion, Fleet) nyc.gov
- TLC Rule Book, Chapter 58 (58-44(d) Preserve Medallion Category) nyc.gov
- TLC testimony on medallion history (Feb 27, 2017) nyc.gov
- NYC Open Data: Medallion Vehicles - Authorized (rhe8-mgbb) data.cityofnewyork.us
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TLC Help is not a law firm and is not affiliated with the NYC Taxi & Limousine Commission or OATH. Explanations on this site are general information, not legal advice. Legal representation is provided by independent attorneys and OATH-registered representatives in our network.