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Non profit перевод
Real Property Transfer Tax RPTT You must pay the Real Property Transfer Tax RPTT on sales, grants, assignments, transfers or surrenders of real property in New York City. What Property Transfers are Subject to the Tax? This includes state or federal government-owned property transferred to a non-government non profit перевод. The RPTT must also be paid when the land and building s that make up a cooperative dwelling s are transferred to a cooperative housing corporation. Who is Exempt from the Tax? The United States Government and its agencies; New York State, its agencies and political subdivisions; and A foreign government, a person acting on behalf of a foreign government, or the head of a foreign government's diplomatic mission. The premises must be used exclusively for non profit перевод or consular purposes. Other usage may result in the payment of tax. If the government entity is transferring the property to a non-government entity, the non-government entity must file a return and pay the tax. What Property Transfers non profit перевод Exempt from the Tax, but Must be Reported on a RPTT Return? A deed, instrument, or transaction: to or from the United Nations or any other worldwide, international non profit перевод where the US is a member; to or from a non-profit organization formed and operated exclusively for religious, charitable or educational purposes, or for the prevention of cruelty to children or animals; to any government body exempt from payment of the tax. However, a deed given by an executor in connection with a sale of an interest in real property is taxable; that effects a mere change of identity or form of ownership or organization but only to the extent that the beneficial ownership remains the same. RPTT Rates The tax rate and amount of tax due depends on the type of sale or transfer of property. The tax is usually non profit перевод as part of closing costs at the sale or transfer of property. Transfers to Real Estate Investment Trusts REITS Taxed at one-half the otherwise applicable rate, if certain conditions are met. Refer to Schedule R of Form for more information. Tax Forms and Filing Information New: Real Property Transfer Tax forms now require properties owned by LLCs to list member information. This information will be used for tax administration purposes and is confidential. The NYC-RPTT packet includes the complete Transfer Tax Return and instructions, registration forms for receiving bills for real estate tax, water, and sewer, and a smoke detector affidavit of compliance. Cooperative Transfer Summary returns are separate. If your property is located in Manhattan NY CountyBronx, Brooklyn Kings Countyor Queens, you must create the packet of RPTT forms online using. The program will ensure all required forms and fields are completed. If your property is located in Staten Island Richmond Countycomplete the. Filing Deadlines You must pay the RPTT tax and file the return within thirty days after the transfer of the property. Even if the transfer non profit перевод not subject to tax, or the tax is zero, the return must still be filed within thirty days after the transfer. Interest and Penalties Schedule 2 of the NYC-RPT has lines to enter any Interest and Penalties that are due: LINE 10 - Interest If the tax is not paid on or before the due date determined without non profit перевод to any extension of timeinterest must be paid non profit перевод the amount of the underpayment from the due date to the date paid. To calculate the interest. LINE 11 - Penalties non profit перевод If you fail to file a return when it is due, add 5% to the tax for each month or partial month the form is late up to 25%, unless the failure to pay is due to reasonable cause. Procedure For Requesting a 30-Days Extension For Filing New York City Real Property Transfer Tax Returns Both the NYC Administrative Code and the Rules of the City of New York ìRCNYî permit a taxpayer to request an extension of time to file a Real Property Transfer Tax return. Extensions must be received in advance of the due date of the non profit перевод, and may not be for more than 30 days. Taxpayers who wish to apply for an extension of time must do so in writing. Requests should be sent to: New York City Department of Finance Land Records Division 66 John Street, 13th Floor New York, NY 10038 Attn: RPTT Extension Request Each request for an extension non profit перевод time to file must include the following: A detailed statement that explains why additional time to prepare the Real Property Transfer Tax return for the transfer is needed; The tentative Real Property Transfer Tax return prepared in ACRIS with the non profit перевод recording and endorsement cover page that shows the estimated Real Property Transfer Tax that will likely be non profit перевод as a result of the transfer; and Full payment of the estimated tax due as computed on the tentative Real Property Transfer Tax return. Legal Authority Local Law: Title 11, Chapter 21, Administrative Code Enabling Act: Tax Law Section 1201 b Frequently Asked Questions Do the Grantor and Grantee Both Have to Sign the RPTT return? Yes, they both have to sign the return. If either the Grantor or Grantee has not signed the return, the party that did not sign it may have to pay penalties as a non-filer. If there are Multiple Grantors or Grantees, Can Non profit перевод One Grantor and One Grantee Sign the RPTT? All parties have to sign the non profit перевод. Any Grantor or Grantee that has not signed the return may have to pay penalties as a non-filer. Can an Attorney, Title Company Representative, or Family Member Discuss a Case with Finance on Behalf of a Taxpayer? In order for anyone other than the Grantor or Grantee to discuss a case with Finance, you must file a with Finance. Non profit перевод of New York.