2023 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.