2023 New York Laws › TAX - Tax › Article 31 - Real Estate Transfer Tax › 1407 - Designation of Agents.

§  1407.  Designation  of agents. (a) The commissioner of taxation and
finance is authorized to designate such banks, trust companies,  savings
banks,  New  York  state  branches  of a foreign bank, industrial banks,
savings and loan associations, national  banking  associations,  federal
savings   and   loan  associations,  title  insurance  corporations  and
recording officers as he shall deem necessary to act as  his  agent  for
purposes of collecting the tax imposed by this article. The commissioner
of  taxation  and finance shall provide for the manner in which any such
person may be  designated  as  his  agent  subject  to  such  terms  and
conditions  as he shall prescribe. The real estate transfer tax shall be
paid to such agents as provided in section fourteen hundred ten of  this
article.  At  the  time such a person shall be designated as an agent of
the commissioner of taxation and finance, the commissioner  of  taxation
and  finance  shall  prescribe whether such agent shall collect the real
estate transfer tax through the sale of documentary stamps, through  the
use of a metering machine, by any other method which the commissioner of
taxation  and  finance, by regulation, may provide, or by one or more of
such methods.
(b) Every person designated to act as an agent pursuant to subdivision
(a) of this section shall remit to  the  commissioner  of  taxation  and
finance  any  funds  collected  by such agent and any returns filed with
such agent under this article, less any fee  allowed  under  subdivision
(c)  of  this section, at such times as the commissioner of taxation and
finance shall prescribe and shall follow such procedures and  keep  such
records  as the commissioner of taxation and finance may prescribe. Each
county (other than the counties comprising New York city) and  New  York
city shall pay all expenses occasioned by the duties of their respective
recording officers to collect the tax imposed by this article, including
any expense for extra clerks.
(c)  1.  When  a  recording officer designated to act as such agent is
presented with a conveyance for  recording  that  is  accompanied  by  a
receipt  issued  by  the  commissioner  pursuant  to  subdivision (c) of
section fourteen hundred twenty-three of this  article,  such  recording
officer  shall  be  relieved  of  the responsibility to collect the real
estate transfer tax thereon. He or she shall nonetheless be entitled  to
the  portion  of  such  tax that he or she would otherwise have retained
pursuant to this subdivision, as provided by subdivision (b) of  section
fourteen hundred twenty-three of the tax law.
2.  When  a  recording  officer  is  presented  with  a conveyance for
recording that is not accompanied by a receipt  described  in  paragraph
one  of  this  subdivision,  he or she shall collect the applicable real
estate transfer tax and shall retain, from the real estate transfer  tax
which  he  or  she collects, the sum of one dollar for each of the first
five thousand conveyances accepted for recording and for which he or she
has issued a documentary stamp or metering machine stamp or  upon  which
instrument  effecting  the conveyance he or she has noted payment of the
tax or that no tax is due, pursuant to any other method for  payment  of
the  tax provided for in the regulations of the commissioner of taxation
and finance, during each annual period commencing on the  first  day  of
August  and  ending  on the next succeeding thirty-first day of July and
seventy-five cents for  each  conveyance  in  excess  of  five  thousand
accepted  for  recording and for which he or she has issued such a stamp
or upon which instrument effecting the conveyance he or  she  has  noted
payment of the tax or that no tax is due, pursuant to such other method,
during  such  annual  period.  Such fee shall be payable even though the
stamp issued or such notation shows that no tax is due. Such a fee  paid
to  the register of the city of New York shall belong to the city of New
York and such a fee paid to a recording officer of a county outside such

city shall belong to such officer's county. With respect  to  any  other
agents  designated  to  act pursuant to subdivision (a) of this section,
the commissioner of  taxation  and  finance  shall  have  the  power  to
provide,  at  his or her discretion, for payment of a fee to such agent,
in such manner and amount and subject to such limitations as he  or  she
may  determine,  but  any  such  fee  for any annual period shall not be
greater than the sum of one dollar for each of the first  five  thousand
conveyances  for  which  such  agent  has  issued a documentary stamp or
metering machine stamp or upon which instrument effecting the conveyance
he or she has noted payment of the tax or that no tax is  due,  pursuant
to  any  other  method  for  payment  of  the  tax  provided  for in the
regulations of the commissioner of taxation  and  finance,  during  such
annual  period  and  seventy-five cents for each conveyance in excess of
five thousand for which such agent has issued such a stamp or upon which
instrument effecting the conveyance such agent has noted payment of  the
tax  or  that  no tax is due, pursuant to such other method, during such
annual period.