NY Tax L § 1409 (2021)
2021 New York Laws TAX - Tax Article 31 - Real Estate Transfer Tax 1409 - Returns.

§  1409.  Returns.  (a)  (1) 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.  (2) When the grantor or grantee of a  deed  for  a  building  used  as residential real property containing up 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 liability company is itself  a  limited liability  company or other business entity other than a publicly traded entity, a REIT, a UPREIT, or a mutual fund, the names and  addresses  of the shareholders, directors, officers, members, managers and partners of the  limited  liability  company  or other business entity shall also be disclosed until full disclosure of ultimate ownership by natural persons is achieved. For purposes of  this  subdivision,  the  terms  "members", "managers",  "authorized person", "limited liability company" and "other business entity" shall have the same meaning as those terms are  defined in section one hundred two of the limited liability company law.  (3)  The  return  shall be filed with the recording officer before the instrument effecting the conveyance may be recorded. However, if the tax is paid to the commissioner pursuant to section fourteen hundred ten  of this  article,  the  return shall be filed with such commissioner at the time the tax is paid. In that instance, a receipt evidencing the  filing of  the  return and the payment of tax shall be filed with the recording officer before the instrument effecting the conveyance may be  recorded. The  recording officer shall handle such receipt in the same manner as a return filed with the recording officer.  (b) Subject to the provisions of section fourteen hundred twenty-three of this article, the return shall be signed by both the grantor and  the grantee.  Where  a conveyance has more than one grantor or more than one grantee, the return  shall  be  signed  by  all  of  such  grantors  and grantees. Where any or all of the grantors or any or all of the grantees have failed to sign a return, it shall be accepted as a return if signed by  any  one  of  the  grantors or by any one of the grantees. Provided, however, those not signing the return  shall  not  be  relieved  of  any liability  for  the  tax  imposed  by  this  article  and  the period of limitations for assessment of tax or of additional tax shall  not  apply to any such party.  (c)  Returns  shall  be preserved for three years and thereafter until the commissioner of taxation and finance permits them to be destroyed.  (d) The commissioner shall prescribe  the  form  of  the  return,  the information  which  it  shall  contain  and the documentation that shall accompany  the  return.  The  commissioner  shall  prescribe  that,  for recorded conveyances, such return shall be included on the form required  to  be  filed  with a conveyance of real property by section two hundred fifty-three-b  of  this  chapter   and   the   regulations   promulgated thereunder,  except  that such commissioner may prescribe a supplemental form for purposes of the tax imposed by this article when the conveyance is  pursuant  to or in lieu of foreclosure or the conveyance consists in part of a mere change of identity or form of ownership  or  organization or the conveyance is one for which a credit for tax previously paid will be  claimed.  In  addition,  the  commissioner,  in  the  commissioner's discretion, may enter into an agreement with the chief fiscal officer of the cities of New York, Yonkers or Mount Vernon to provide that a single return may be filed with a recording officer for  purposes  of  the  tax imposed under this article and the tax imposed by such city.  (e)  Certifications.  The  making  or  filing  of  any return or other document or copy thereof, required to be made or filed pursuant to  this article, shall constitute a certification by the person making or filing such  return  or  other  document  or  copy  thereof that the statements contained therein are true and that any copy filed is a true copy.