|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jun 16, 2014||referred to ways and means|
delivered to assembly
|Jun 02, 2014||advanced to third reading|
|May 29, 2014||2nd report cal.|
|May 28, 2014||1st report cal.971|
|Jan 08, 2014||referred to investigations and government operations|
|Mar 14, 2013||referred to investigations and government operations|
senate Bill S4200
Archive: Last Bill Status - Passed Senate
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S4200 - Details
S4200 - Summary
Exempts from sales tax the sale of an abstract of title to real property to be used for agricultural purposes to either a prospective purchaser of real property or to an attorney representing a prospective purchaser.
S4200 - Sponsor Memo
BILL NUMBER:S4200 TITLE OF BILL: An act to amend the tax law, in relation to providing for a sales tax exemption for farm abstracts PURPOSE: To clarify that sale of abstracts of title to land used for agricultural purposes are not subject to sales tax. SUMMARY: Section 1 amends Paragraph 1 of Subdivision (c) of Section 1105 of the Tax Law to provide an exclusion from the four percent tax for sale of an abstract of title to real property used for agricultural purposes. Section 2 states this act shall take effect immediately. JUSTIFICATION: Agriculture is a land intensive business which makes sales tax on abstract services, property taxes and other land-related tax issues a substantial business expense. The purchase or sale of land requires an abstract of title which provides a condensed history of all deeds, mortgages and other recorded documents pertinent to the land parcel being transferred to new ownership. Before the sale of land can be concluded, the abstract of title is reviewed by an attorney or insurance company to determine if there are any outstanding liens or mortgages that must be satisfied before the buyer can claim ownership.
S4200 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4200 2013-2014 Regular Sessions I N S E N A T E March 14, 2013 ___________ Introduced by Sen. RITCHIE -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Govern- ment Operations AN ACT to amend the tax law, in relation to providing for a sales tax exemption for farm abstracts THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph 1 of subdivision (c) of section 1105 of the tax law, as amended by chapter 583 of the laws of 2011, is amended to read as follows: (1) The furnishing of information by printed, mimeographed or multi- graphed matter or by duplicating written or printed matter in any other manner, including the services of collecting, compiling or analyzing information of any kind or nature and furnishing reports thereof to other persons, but excluding the furnishing of information which is personal or individual in nature and which is not or may not be substan- tially incorporated in reports furnished to other persons, and excluding the services of advertising or other agents, or other persons acting in a representative capacity, and information services used by newspapers, electronic news services, radio broadcasters and television broadcasters in the collection and dissemination of news, and excluding meteorologi- cal services, AND EXCLUDING THE SALE OF AN ABSTRACT OF TITLE TO REAL PROPERTY TO BE USED FOR AGRICULTURAL PURPOSES TO EITHER A PROSPECTIVE PURCHASER OF REAL PROPERTY OR TO AN ATTORNEY REPRESENTING A PROSPECTIVE PURCHASER. S 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD04930-01-3
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