Please take note of the new enhanced reporting requirements for certain residential deed transfers occurring on or after September 13, 2019, per Section 2 of Chapter 297 of the Laws of New York of 2019.
Xổ số hỗn hợp hôm nayPlease take note of the new enhanced reporting requirements for certain residential deed transfers occurring on or after September 13, 2019, per Section 2 of Chapter 297 of the Laws of New York of 2019.
Effective September 13, 2019, when a limited liability company is the grantor or grantee in a real property deed transfer of a building containing one- to four-family dwelling units, an enhanced member list must be attached to Form NYC-RPT. This new enhanced member list is to be provided as an alternative to the identifying information requested in the instructions for Form NYC-RPT.
The enhanced member list must include the name and business address of all members, managers, and other authorized persons of the LLC. If any member of the LLC is itself an LLC or other business entity, the names and business addresses of the shareholders, directors, officers, members, managers and/or partners of that LLC or other business entity must also be provided until ultimate ownership by natural persons is disclosed. The term “natural person” means a human being who is the beneficial owner of the real property. A natural person cannot be a corporation or partnership, a person or people operating a business under a doing-business-as name, an estate, or a trust.
A grantor or grantee that is a single-member LLC will be required to provide the names and identification numbers of both the LLC and the single member on the first page of Form NYC-RPT. If the name or identification number is not provided, attach an affidavit attesting to the reasons that the information is missing.
A grantor or grantee that is a multiple-member LLC will be required to provide the name and identification numbers (either Social Security or EIN) of each member in an attached document If the Social Security number or EIN is not provided for each grantor and grantee, or for all members of an LLC which is either a grantor or grantee, attach an affidavit attesting to the reasons that the information is missing.
The tax rate and amount of tax due depends on the type of sale or transfer of property. The tax is usually paid as part of closing costs at the sale or transfer of property.
Xổ số hỗn hợp hôm nayTaxed at one-half the otherwise applicable rate, if certain conditions are met.
Beginning August 19, 2016, taxpayers may be eligible to claim a full or partial Real Property Transfer Tax exemption for transfers of real property, or economic interests therein, to or from Housing Development Fund Companies, or entities in which a Housing Development Fund Company owns a controlling interest (collectively known as an “HDFC Transfer”) under Section 11-2106(b)(9) of the Administrative Code of the City of New York (the “HDFC Exemption”).
Effective March 24, 2017, the NYC-RPT form has been revised to include:
For additional details on how to claim a new Real Property Transfer Tax (“RPTT”) exemption for transfers of real property subject to certain affordable housing restrictions, click here.
You must create the packet of RPTT forms Online using ACRIS, the Automated City Register Information System.
Xổ số hỗn hợp hôm nayThe NYC-RPTT packet includes:
a) If you fail to file a return when it is due, add 5% to the tax for each month or partial month the form is late up to 25%, unless the failure to pay is due to reasonable cause.
b) If you fail to pay the tax shown on the return by the prescribed filing date, add to the tax (less any payments made) 0.5% for each month or partial month the payment is late up to 25%, unless the failure to pay is due to reasonable cause.
c) The total of the additional charges in a) and b) may not exceed 5% for any one month.
Both the NYC Administrative Code and the Rules of the City of New York (ìRCNYî) permit a taxpayer to request an extension of time to file a Real Property Transfer Tax return. Extensions must be received in advance of the due date of the return, and may not be for more than 30 days.
Taxpayers who wish to apply for an extension of time must do so in writing. Requests should be sent to:
New York City Department of Finance
Land Records Division
66 John Street, 13th Floor
New York, NY 10038
Attn: RPTT Extension Request
Xổ số hỗn hợp hôm nayEach request for an extension of time to file must include the following:
Xổ số hỗn hợp hôm nayYes, they both have to sign the return. If either the Grantor or Grantee has not signed the return, the party that did not sign it may have to pay penalties as a non-filer.
No. All parties have to sign the return. Any Grantor or Grantee that has not signed the return may have to pay penalties as a non-filer.
In order for anyone other than the Grantor or Grantee to discuss a case with Finance, you must file a Power of Attorney with Finance.
|Note: Section 23-09 of the Rules of the City of New York requires real property transfer tax returns for transfers of real property located in Staten Island to be filed electronically using the Automated City Register Information System (ACRIS) and in paper form which must be filed in the office of the Richmond County Clerk. If a return is not filed at the time of the recording of a deed, or the deed has not yet been recorded, the paper return may instead be filed in any office of the City Register.|