2019 New York Laws
TAX - Tax
Article 31 - Real Estate Transfer Tax
1409 - Returns.

§ 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
other than a conveyance of an easement or license to a public utility as
defined in subdivision two of section one hundred eighty-six-a  of  this
chapter  or to a public utility which is a provider of telecommunication
services  as  defined  in  subdivision  one  of  section   one   hundred
eighty-six-e  of this chapter, where the consideration is two dollars or
less and is clearly stated as actual consideration in the instrument  of
conveyance.  When  the grantor or grantee of a deed for residential real
property containing one- to four-family  dwelling  units  is  a  limited
liability  company,  the  joint  return shall not be accepted for filing
unless it is accompanied by a document which identifies  the  names  and
business  addresses  of  all members, managers, and any other authorized
persons, if any, of such limited liability company  and  the  names  and
business   addresses   or,  if  none,  the  business  addresses  of  all
shareholders, directors, officers, members, managers and partners of any
limited liability company or other business entity that are  to  be  the
members,  managers  or  authorized  persons,  if  any,  of  such limited
liability company. The identification of such names and addresses  shall
not  be  deemed  an unwarranted invasion of personal privacy pursuant to
article six of the public officers law. If any such member,  manager  or
authorized  person  of the limited liability company is itself a limited
liability company or other business entity, the names and  addresses  of
the shareholders, directors, officers, members, managers and partners of
the  limited  liability  company  or other business entity shall also be
disclosed until full disclosure of ultimate ownership by natural persons
is achieved. For purposes of  this  subdivision,  the  terms  "members",
"managers",  "authorized person", "limited liability company" and "other
business entity" shall have the same meaning as those terms are  defined
in  section  one  hundred  two of the limited liability company law. The
return shall be filed with the recording officer before  the  instrument
effecting the conveyance may be recorded. However, if the tax is paid to
the  commissioner  pursuant  to  section  fourteen  hundred  ten of this
article, the return shall be filed with such commissioner  at  the  time
the  tax  is  paid. In that instance, a receipt evidencing the filing of
the return and the payment of tax shall  be  filed  with  the  recording
officer  before the instrument effecting the conveyance may be recorded.
The recording officer shall handle such receipt in the same manner as  a
return filed with the recording officer.
  (b)  The  return  shall be signed by both the grantor and the grantee.
Where a conveyance has more than one grantor or more than  one  grantee,
the  return  shall be signed by all of such grantors and grantees. Where
any or all of the grantors or any or all of the grantees have failed  to
sign  a return, it shall be accepted as a return if signed by any one of
the grantors or by any one of the grantees. Provided, however, those not
signing the return shall not be relieved of any liability  for  the  tax
imposed  by this article and the period of limitations for assessment of
tax or of additional tax shall not apply to any such party.
  (c) Returns shall be preserved for three years  and  thereafter  until
the commissioner of taxation and finance permits them to be destroyed.
  (d)  The  commissioner  shall  prescribe  the  form of the return, the
information which it shall contain  and  the  documentation  that  shall
accompany  the  return.  The  commissioner  shall  prescribe  that,  for
recorded conveyances, such return shall be included on the form required
to be filed with a conveyance of real property by  section  two  hundred
fifty-three-b   of   this   chapter   and  the  regulations  promulgated
thereunder, except that such commissioner may prescribe  a  supplemental
form for purposes of the tax imposed by this article when the conveyance

is  pursuant  to or in lieu of foreclosure or the conveyance consists in
part of a mere change of identity or form of ownership  or  organization
or the conveyance is one for which a credit for tax previously paid will
be  claimed.  In  addition,  the  commissioner,  in  the  commissioner's
discretion, may enter into an agreement with the chief fiscal officer of
the cities of New York, Yonkers or Mount Vernon to provide that a single
return may be filed with a recording officer for  purposes  of  the  tax
imposed under this article and the tax imposed by such city.
  (e)  Certifications.  The  making  or  filing  of  any return or other
document or copy thereof, required to be made or filed pursuant to  this
article, shall constitute a certification by the person making or filing
such  return  or  other  document  or  copy  thereof that the statements
contained therein are true and that any copy filed is a true copy.