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)
If you have further questions, please contact us.