N.Y. Tax Law 1410 – Payment
§ 1410. Payment. (a) The tax imposed hereunder shall be paid to the commissioner, or to any agent of the commissioner appointed pursuant to section fourteen hundred seven of this article, no later than the fifteenth day after the delivery of the instrument effecting the conveyance by the grantor to the grantee. For purposes of this article, the date of the instrument effecting the conveyance shall be presumed to be the date of delivery of such instrument. A notation shall be made (or stamps affixed) on the instrument effecting the conveyance as evidence of payment. The commissioner may provide for other methods of evidencing payment. Except as hereafter provided, all moneys received as such payments by the recording officer or any agent of the commissioner during each month, excluding the fees retained by such recording officer or agent pursuant to subdivision (c) of section fourteen hundred seven of this chapter, shall be remitted to the commissioner on the tenth day of the succeeding month or on such other day as is set by regulation by the commissioner. Provided, however, if the total of such payments required to be remitted to the commissioner by such recording officer or agent during the prior calendar year exceeded one million two hundred thousand dollars, all moneys received as such payments by such recording officer or agent of the commissioner from the first through and including the fifteenth day of a month, excluding the fees retained by such recording officer or agent pursuant to subdivision (c) of section fourteen hundred seven of this chapter, shall be remitted to the commissioner on the twenty-fifth day of the same month such moneys are received by such recording officer or agent. All moneys received as such payments by such recording officer or agent from the sixteenth through and including the last day of the month, excluding the fees retained by such recording officer or agent pursuant to subdivision (c) of section fourteen hundred seven of this chapter, shall be remitted to the commissioner on the tenth day of the succeeding month.
Terms Used In N.Y. Tax Law 1410
- Conveyance: means the transfer or transfers of any interest in real property by any method, including but not limited to sale, exchange, assignment, surrender, mortgage foreclosure, transfer in lieu of foreclosure, option, trust indenture, taking by eminent domain, conveyance upon liquidation or by a receiver, or transfer or acquisition of a controlling interest in any entity with an interest in real property. See N.Y. Tax Law 1401
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Grantee: means the person who obtains real property or interest therein as a result of a conveyance. See N.Y. Tax Law 1401
- Recording officer: means the county clerk of the county, except in a county having a register, where it means the register of the county, or in the city of New York where it means the city register. See N.Y. Tax Law 1401
(b) A recording officer shall not record an instrument effecting a conveyance unless one of the following conditions is satisfied:
(1) the instrument is accompanied by a receipt issued by the commissioner pursuant to subdivision (c) of section fourteen hundred twenty-three of this article; or
(2) the return required by section fourteen hundred nine of this article has been filed and the real estate transfer tax due, if any, shall have been paid as provided in this section.