- September 16, 2004
- All Issuing Offices in New York
- New Tax on Transfer of Co-ops For Non-Residents
A non resident seller of a co op is liable for payment of income tax. This tax is the same as the non resident tax on transfer of real estate (IT-2663).
A new form, IT-2664, is required to be filed within 15 days of the transfer. This form has not yet been published. A copy will be distributed once it is published.
Customers who have sold a co op this year and are liable for this tax may want to revise their estimated income tax payments to reflect this additional tax.
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