2020 New York Laws
TAX - Tax
Article 31 - Real Estate Transfer Tax
1407 - Designation of Agents.

§  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, industrial banks,
savings and loan associations, national  banking  associations,  federal
savings   and   loan  associations,  title  insurance  corporations  and
recording officers as he shall deem necessary to act as  his  agent  for
purposes of collecting the tax imposed by this article. The commissioner
of  taxation  and finance shall provide for the manner in which any such
person may be  designated  as  his  agent  subject  to  such  terms  and
conditions  as he shall prescribe. The real estate transfer tax shall be
paid to such agents as provided in section fourteen hundred ten of  this
article.  At  the  time such a person shall be designated as an agent of
the commissioner of taxation and finance, the commissioner  of  taxation
and  finance  shall  prescribe whether such agent shall collect the real
estate transfer tax through the sale of documentary stamps, through  the
use of a metering machine, by any other method which the commissioner of
taxation  and  finance, by regulation, may provide, or by one or more of
such methods.
  (b) Every person designated to act as an agent pursuant to subdivision
(a) of this section shall remit to  the  commissioner  of  taxation  and
finance  any  funds  collected  by such agent and any returns filed with
such agent under this article, less any fee  allowed  under  subdivision
(c)  of  this section, at such times as the commissioner of taxation and
finance shall prescribe and shall follow such procedures and  keep  such
records  as the commissioner of taxation and finance may prescribe. Each
county (other than the counties comprising New York city) and  New  York
city shall pay all expenses occasioned by the duties of their respective
recording officers to collect the tax imposed by this article, including
any expense for extra clerks.
  (c)  Every  recording  officer  designated  to act as such agent shall
retain, from the real estate transfer tax which he collects, the sum  of
one  dollar for each of the first five thousand conveyances accepted for
recording and for which he has issued a documentary  stamp  or  metering
machine  stamp  or upon which instrument effecting the conveyance he has
noted payment of the tax or that no tax is due, pursuant  to  any  other
method  for  payment  of  the tax provided for in the regulations of the
commissioner  of  taxation  and  finance,  during  each  annual   period
commencing  on the first day of August and ending on the next succeeding
thirty-first day of July and seventy-five cents for each  conveyance  in
excess  of  five  thousand  accepted  for recording and for which he has
issued such a stamp or upon which instrument effecting the conveyance he
has noted payment of the tax or that no tax is  due,  pursuant  to  such
other  method, during such annual period. Such fee shall be payable even
though the stamp issued or such notation shows that no tax is due.  Such
a  fee  paid to the register of the city of New York shall belong to the
city of New York and such a fee paid to a recording officer of a  county
outside such city shall belong to such officer's county. With respect to
any  other  agents designated to act pursuant to subdivision (a) of this
section, the commissioner of taxation and finance shall have  the  power
to  provide,  at  his discretion, for payment of a fee to such agent, in
such manner and amount  and  subject  to  such  limitations  as  he  may
determine,  but  any such fee for any annual period shall not be greater
than the sum  of  one  dollar  for  each  of  the  first  five  thousand
conveyances  for  which  such  agent  has  issued a documentary stamp or
metering machine stamp or upon which instrument effecting the conveyance
he has noted payment of the tax or that no tax is due, pursuant  to  any
other  method  for payment of the tax provided for in the regulations of
the commissioner of taxation and finance, during such annual period  and

seventy-five  cents  for  each conveyance in excess of five thousand for
which such agent has issued  such  a  stamp  or  upon  which  instrument
effecting the conveyance such agent has noted payment of the tax or that
no tax is due, pursuant to such other method, during such annual period.