1426 – Payment of Tax.
§ 1426. Payment of tax. 1. The real estate transfer tax imposed pursuant to this article shall be paid to the treasurer or the recording officer acting as the agent of the treasurer upon designation as such agent by the treasurer. Such tax shall be paid at the same time as the real estate transfer […]
1423 – Modernization of Real Property Transfer Reporting.
§ 1423. Modernization of real property transfer reporting. (a) Notwithstanding any provision of law to the contrary, the commissioner is hereby authorized to implement a system for the electronic collection of data relating to transfers of real property. In connection therewith, the commissioner may combine the two forms referred to in paragraph one of this […]
1427 – Liability for Tax.
§ 1427. Liability for tax. 1. The real estate transfer tax shall be paid by the grantor. If the grantor has failed to pay the tax imposed pursuant to this article or if the grantor is exempt from such tax, the grantee shall have the duty to pay the tax. Where the grantee has the […]
1428 – Exemptions.
§ 1428. Exemptions. 1. The following shall be exempt from payment of the real estate transfer tax: (a) The state of New York, or any of its agencies, instrumentalities, political subdivisions, or public corporations (including a public corporation created pursuant to agreement or compact with another state or the Dominion of Canada). (b) The United […]
1428-A – Credit.
§ 1428-a. Credit. 1. A grantor shall be allowed a credit against the tax due on a conveyance of real property to the extent tax was paid by such grantor on a prior creation of a leasehold of all or a portion of the same real property or on the granting of an option or […]
1428-B – Cooperative Housing Corporation Transfers.
§ 1428-b. Cooperative housing corporation transfers. 1. Notwithstanding the definition of “controlling interest” contained in subdivision two of section fourteen hundred twenty-four of this article or anything to the contrary contained in subdivision five of section fourteen hundred twenty-four of this article, the tax imposed pursuant to this article shall apply to (a) the original […]
1424 – Definitions.
§ 1424. Definitions. When used in this article, unless otherwise expressly stated: 1. “Person” means an individual, partnership, limited liability company, society, association, joint stock company, corporation, estate, receiver, trustee, assignee, referee or any other person acting in a fiduciary or representative capacity, whether appointed by a court or otherwise, any combination of individuals, and […]
1411 – Determination of Tax.
§ 1411. Determination of tax. (a) If a return required by this article is not filed, or if a return when filed is incorrect or insufficient, the amount of tax due shall be determined by the commissioner of taxation and finance from such records or information as may be obtainable, including the assessed valuation of […]
1412 – Refunds.
§ 1412. Refunds. (a) A grantor or grantee claiming to have erroneously paid the tax imposed by this article or some other person designated by such grantor or grantee may file an application for refund within two years from the date of payment. Such application shall be filed with the commissioner of taxation and finance […]
1413 – Remedies Exclusive.
§ 1413. Remedies exclusive. The remedies provided by sections fourteen hundred eleven and fourteen hundred twelve of this article shall be the exclusive remedies available to any person for the review of tax liability imposed by this article. No determination or proposed determination of tax or determination on any application for refund shall be enjoined […]