We previously sent you the Friday Fast Facts below regarding the updated form TP584 (9/19). The form is on our website and below.
The County Clerks have advised they will not accept the old form after 1/1/2020. All deeds submitted after 1/1/2020 must be accompanied by the new TP584(9/19)
On September 13, 2019, the State of New York enacted Chapter 297 of the Laws of 2019, which amends New York Tax Law § 1409(a) and adds a new subdivision (h) to § 11-205 of the NYC Administrative Code.
• Governor signed the Bill on Sept. 13, 2019.
• Legislation goes into effect immediately (tax law Sec. 1409) and NYC Admin. Code Sec. 11-2105 applies to all Deeds recorded on and after Monday Sept. 23, 2019.
• Applies to all 1 – 4 family conveyances when Grantor or Grantee is an LLC.
• See attached New/Revised TP-584 and Addendum to form TP584, TP 584 NYC and NYC RPT
(click on links below)
Addendum to TP 584, TP 584 NYC and NYC RPT
If you have further questions, please contact us.