New York Tax Law 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: February 3, 2019