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Bulletin: NY000211

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Bulletin: NY000211

Note: This Bulletin has been replaced by NY000307 - New NYS Transfer Tax forms (TP-584). Use it for reference only.
v 1
Date: August 08, 2003
To: All New York State Office Counsel, Managers and Agents
RE: NYS Tax Law Section 663; Payment of Estimated Personal Income Tax; Changes to NYS Department of Taxation and Finance Form TP-584

Section 663 of the New York State Tax Law becomes effective September 1, 2003. Pursuant to the new law, non-resident taxpayers are required to pay estimated personal income tax on the gain, if any, from the sale or transfer of real property located inNew York.

The law shall not apply where the ...

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.