Bulletin: NY000457

Date:
September 29, 2010
To:
All New York State Office Counsel, Managers and Agents
RE:
Tax Department Bulletin - Application of Sales and Use Taxes to Abstracts of Title & Other Public Record Searches

The Taxpayer Guidance Division of the New York State Department of Taxation and Finance issued, on September 23 Bulletin TB-ST-5 "Abstracts of Title and Other Public Records Searches".

Referring back to the Tax Department's interpretation of tax law, effective September 1, 2010, to the effect that sales and use tax apply to the sale of abstracts of title and other public record searches (see TSB-M-10(7)S, Sales and Compensating Use Tax Treatment of Certain Information Services), this Bulletin "explains how the sales and use taxes apply to these sales."

NYS Dept. of Taxation and Finance Bulletin TB-ST-5 (click to view).

For online viewing of this and other bulletins, log onto: www.stewartnewyork.com.

THIS BULLETIN IS FURNISHED TO INFORM YOU OF CURRENT DEVELOPMENTS. AS A REMINDER, YOU ARE CHARGED WITH KNOWLEDGE OF THE CONTENT ON VIRTUAL UNDERWRITER  AS IT EXISTS FROM TIME TO TIME AS IT APPLIES TO YOU, AS WELL AS ANY OTHER INSTRUCTIONS. OUR UNDERWRITING AGREEMENTS DO NOT AUTHORIZE OUR ISSUING AGENTS TO ENGAGE IN SETTLEMENTS OR CLOSINGS ON BEHALF OF STEWART TITLE GUARANTY COMPANY. THIS BULLETIN IS NOT INTENDED TO DIRECT YOUR ESCROW OR SETTLEMENT PRACTICES OR TO CHANGE PROVISIONS OF APPLICABLE UNDERWRITING AGREEMENTS. CONFIDENTIAL, PROPRIETARY, OR NONPUBLIC PERSONAL INFORMATION SHOULD NEVER BE SHARED OR DISSEMINATED EXCEPT AS ALLOWED BY LAW. IF APPLICABLE STATE LAW OR REGULATION IMPOSES ADDITIONAL REQUIREMENTS, YOU SHOULD CONTINUE TO COMPLY WITH THOSE REQUIREMENTS.