Capitalize Financial
No Result
View All Result
  • Home
  • World
  • Economy
  • Business
  • Markets
  • Real Estate
  • Cryptocurrency
Capitalize Financial
  • Home
  • World
  • Economy
  • Business
  • Markets
  • Real Estate
  • Cryptocurrency
No Result
View All Result
Capitalize Financial
No Result
View All Result
Home Real Estate

New York Expands Liability Provisions for New York Real Estate Transfer Tax

by capitalizefinancial
May 27, 2021
in Real Estate
0
New York Expands Liability Provisions for New York Real Estate Transfer Tax

On April 19, Governor Andrew Cuomo signed into law the New York Budget Bill for the 2021-2022 state fiscal year (Senate Bill S2509C) (the New Budget Bill). The New Budget Bill contains a major change to the liability provisions for New York State’s real estate transfer tax (RETT).

Generally, the RETT is imposed on all conveyances of real property or interests of real property when the consideration exceeds $500. N.Y. Tax Law. § 1402(a). The liability for the RETT is imposed on the grantor, but if the grantor fails to pay or is exempt from the tax, the tax is levied on the grantee. N.Y. Tax Law §1404(a). For purposes of the RETT, the grantor is defined as “the person making the conveyance of real property or interest therein.” N.Y. Tax Law § 1401(g).

The New Budget Bill expanded the definition of “person” to include any individual, corporation, partnership or limited liability company (LLC), or an officer or employee of any corporation (including a dissolved corporation), or a member or employee of any partnership, or a member, manager or employee of an LLC, who as such officer, employee, manager or member is under.

Read more

Previous Post

Markets Close Green, NVIDIA Trounces Q1 Estimates

Next Post

The crackdown on HK’s only public broadcaster

Next Post

The crackdown on HK's only public broadcaster

Search…

No Result
View All Result

Subscribe Us

By clicking on Subscribe, I confirm that I have read and agree to the terms set forth in the Privacy Policy and Terms of Service including Capitalize Financial’s ability to use and share my information and Capitalize Financial, or third-party companies and business partners, may send me offers for products and services at the email address I have provided. I understand that my information may be supplemented with additional information obtained from other sources.

Recent News

Vote counting far from over as Trump-backed Dr. Oz and Dave McCormick deadlocked in PA GOP Senate primary

Vote counting far from over as Trump-backed Dr. Oz and Dave McCormick deadlocked in PA GOP Senate primary

‘There’s no stopping this team’: How the Yankees cleaned up their act and became baseball’s most dominant squad

‘There’s no stopping this team’: How the Yankees cleaned up their act and became baseball’s most dominant squad

Categories

  • Business
  • Cryptocurrency
  • Economy
  • entertainment
  • finance
  • Georgia
  • health
  • Markets
  • Music
  • Politics
  • Real Estate
  • receipe
  • Science
  • science
  • Sports
  • Sports
  • Tech
  • Travel
  • World

Site Navigation

  • Contact Us
  • Privacy Policy
  • Terms Of Service
  • Unsubscribe

Capitalize Financial, a news portal which provides the financial news global wide.

  • Contact Us
  • Privacy Policy
  • Terms Of Service
  • Unsubscribe

© 2021 Capitalize Financial All Rights Reserved

No Result
View All Result
  • Advertisement
  • Contact Us
  • Homepages
    • Home 1
    • Home 2
    • Home 3
    • Home 4
    • Home 5
  • World
  • Economy
  • Business
  • Markets
  • Real Estate

© 2021 Capitalize Financial All Rights Reserved