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Article: New York State gains tax: what's new? (required forms for reporting capital gains tax changed) (Taxing Situations)
- Article from:
- Real Estate Weekly
- Article date:
- August 12, 1992
- Author:
CopyrightCOPYRIGHT 1992 Hagedorn Publication. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The June 24, 1992, article entitled "Who is Responsible for New York State Gains Tax" described the new requirement to file Form TP-575, Transferor - Responsible Person Information.
Subsequently, the state has issued a notice suspending the filing requirement of that form due to certain problems and confusion it had created. The state is now re-examining its policy concerning when a responsible person will be individually liable for paying the tax and will provide additional information in the future.
In another development, the gains tax law was recently amended to release cooperative housing corporations and other secured parties from transferee ...