New York Tax Article 31 - Real Estate Transfer Tax

  • 1400 - Short Title.
    This article shall be known and may be cited as the "real estate transfer tax law".
  • 1401 - Definitions.
    When used in this article, unless otherwise expressly stated: (a) "Person" means an individual, partnership, limited liability company, society, association, joint stock company, corporation, estate,...
  • 1402 - Imposition Of Tax.
    (a) A tax is hereby imposed on each conveyance of real property or interest therein when the consideration exceeds five hundred dollars, at the rate...
  • 1402-a - Additional Tax.
    (a) In addition to the tax imposed by section fourteen hundred two of this article, a tax is hereby imposed on each conveyance of residential...
  • 1404 - Liability For Tax.
    (a) The real estate transfer tax shall be paid by the grantor. If the grantor has failed to pay the tax imposed by this article...
  • 1405 - Exemptions.
    (a) The following shall be exempt from payment of the real estate transfer tax: 1. The state of New York, or any of its agencies,...
  • 1405-a - Credit.
    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...
  • 1405-b - Cooperative Housing Corporation Transfers.
    (a) Notwithstanding the definition of "controlling interest" contained in subdivision (b) of section fourteen hundred one of this article or anything to the contrary contained...
  • 1406 - Preparation And Sale Of Stamps.
    (a) The tax commission shall prepare adhesive documentary stamps for purposes of the real estate transfer tax of such design, in such form, in such...
  • 1407 - Designation Of Agents.
    (a) The commissioner of taxation and finance is authorized to designate such banks, trust companies, savings banks, New York state branches of a foreign bank,...
  • 1408 - Liability Of Recording Officer.
    A recording officer or any other person designated to act as agent pursuant to section fourteen hundred seven of this article shall not be liable...
  • 1409 - Returns.
    (a) A joint return shall be filed by both the grantor and the grantee for each conveyance whether or not a tax is due thereon...
  • 1410 - Payment.
    (a) The tax imposed hereunder shall be paid to the commissioner, or to any agent of the commissioner appointed pursuant to section fourteen hundred seven...
  • 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...
  • 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...
  • 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...
  • 1414 - Proceedings To Recover Tax.
    (a) Whenever any person shall fail to pay any tax, penalty or interest imposed by this article, the attorney general shall, upon the request of...
  • 1415 - General Powers Of The Commissioner Of Taxation And Finance.
    The commissioner of taxation and finance shall have the power: (a) to administer and enforce the tax imposed by this article and the commissioner is...
  • 1416 - Interest And Civil Penalties.
    (a) If the commissioner of taxation and finance determines that there has been an overpayment of tax, interest at the overpayment rate set by the...
  • 1417 - Criminal Penalties.
    For criminal penalties, see article thirty-seven of this chapter.
  • 1418 - Returns To Be Secret.
    (a) Except in accordance with proper judicial order or as otherwise provided by law, it shall be unlawful for the tax appeals tribunal, the commissioner...
  • 1419 - Notices.
    (a) Any notice authorized or required under the provisions of this article may be given by mailing the same to the person for whom it...
  • 1420 - Limitations Of Time.
    (a) The provisions of the civil practice law and rules or any other law relative to limitations of time for the enforcement of a civil...
  • 1421 - Deposit And Dispositions Of Revenues.
    From the taxes, interest and penalties attributable to the tax imposed pursuant to section fourteen hundred two of this article, the amount of one hundred...
  • 1422 - Foreclosure Proceedings.
    Where the conveyance consists of a transfer of property made as a result of an order of the court in a foreclosure proceeding ordering the...

Last modified: September 11, 2016