assembly Bill A10430

2015-2016 Legislative Session

Requires the real property transfer tax return relating to residential property sold or purchased by a limited liability company to include information on the ownership of such company

download bill text pdf

Sponsored By

Archive: Last Bill Status - Passed Assembly


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (8)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 15, 2016 referred to rules
delivered to senate
passed assembly
Jun 14, 2016 ordered to third reading rules cal.253
rules report cal.253
reported
Jun 08, 2016 reported referred to rules
May 27, 2016 referred to ways and means

Co-Sponsors

A10430 (ACTIVE) - Details

See Senate Version of this Bill:
S7795
Current Committee:
Senate Rules
Law Section:
Tax Law
Laws Affected:
Amd §1409, Tax L; amd §11-2105, NYC Ad Cd
Versions Introduced in Other Legislative Sessions:
2017-2018: A3443, S1717
2019-2020: A7190, S1730

A10430 (ACTIVE) - Summary

Requires the real property transfer tax return relating to residential property sold or purchased by a limited liability company to include information on the ownership of such company.

A10430 (ACTIVE) - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  10430

                          I N  A S S E M B L Y

                              May 27, 2016
                               ___________

Introduced  by  M. of A. SKOUFIS, ZEBROWSKI -- read once and referred to
  the Committee on Ways and Means

AN ACT to amend the tax law and the administrative code of the  city  of
  New  York in relation to real property transfer tax returns of limited
  liability companies

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1.  Subdivision (a) of section 1409 of the tax law, as amended
by chapter 309 of the laws of 1996, is amended to read as follows:
  (a)  A joint return shall be filed by both the grantor and the grantee
for each conveyance whether or not a tax is due  thereon  other  than  a
conveyance  of  an easement or license to a public utility as defined in
subdivision two of section one hundred eighty-six-a of this  chapter  or
to a public utility which is a provider of telecommunication services as
defined  in  subdivision one of section one hundred eighty-six-e of this
chapter, where the consideration is two dollars or less and  is  clearly
stated as actual consideration in the instrument of conveyance. WHEN THE
GRANTOR  OR  GRANTEE  OF A DEED FOR RESIDENTIAL REAL PROPERTY CONTAINING
ONE- TO FOUR-FAMILY DWELLING UNITS IS A LIMITED LIABILITY  COMPANY,  THE
JOINT  RETURN  SHALL NOT BE ACCEPTED FOR FILING UNLESS IT IS ACCOMPANIED
BY A DOCUMENT WHICH IDENTIFIES THE NAMES AND BUSINESS ADDRESSES  OF  ALL
MEMBERS,  MANAGERS,  AND  ANY  OTHER AUTHORIZED PERSONS, IF ANY, OF SUCH
LIMITED LIABILITY COMPANY AND THE NAMES AND BUSINESS  ADDRESSES  OR,  IF
NONE,  THE  BUSINESS ADDRESSES OF ALL SHAREHOLDERS, DIRECTORS, OFFICERS,
MEMBERS, MANAGERS AND PARTNERS OF ANY LIMITED LIABILITY COMPANY OR OTHER
BUSINESS ENTITY THAT ARE TO  BE  THE  MEMBERS,  MANAGERS  OR  AUTHORIZED
PERSONS,  IF  ANY, OF SUCH LIMITED LIABILITY COMPANY. THE IDENTIFICATION
OF SUCH NAMES AND ADDRESSES SHALL NOT BE DEEMED AN UNWARRANTED  INVASION
OF  PERSONAL PRIVACY PURSUANT TO ARTICLE SIX OF THE PUBLIC OFFICERS LAW.
IF ANY SUCH MEMBER, MANAGER OR AUTHORIZED PERSON OF THE LIMITED  LIABIL-
ITY  COMPANY  IS  ITSELF  A  LIMITED LIABILITY COMPANY OR OTHER BUSINESS
ENTITY, THE NAMES AND ADDRESSES OF THE  SHAREHOLDERS,  DIRECTORS,  OFFI-
CERS, MEMBERS, MANAGERS AND PARTNERS OF THE LIMITED LIABILITY COMPANY OR
OTHER  BUSINESS  ENTITY SHALL ALSO BE DISCLOSED UNTIL FULL DISCLOSURE OF

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.