N.Y. Tax Law § 1402-A — Additional tax

§ 1402-a. Additional tax. (a) In addition to the tax imposed by\nsection fourteen hundred two of this article, a tax is hereby imposed on\neach conveyance of residential real property or interest therein when\nthe consideration for the entire conveyance is one million dollars or\nmore. For purposes of this section, residential real property shall\ninclude any premises that is or may be used in whole or in part as a\npersonal residence, and shall include a one, two, or three-family house,\nan individual condominium unit, or a cooperative apartment unit. The\nrate of such tax shall be one percent of the consideration or part\nthereof attributable to the residential real property. Such tax shall be\npaid at the same time and in the same manner as the tax imposed by\nsection fourteen hundred two of this article.\n (b) Notwithstanding the provisions of subdivision (a) of section\nfourteen hundred four of this article, the additional tax imposed by\nthis section shall be paid by the grantee. If the grantee has failed to\npay the tax imposed by this article at the time required by section\nfourteen hundred ten of this article or if the grantee is exempt from\nsuch tax, the grantor shall have the duty to pay the tax. Where the\ngrantor has the duty to pay the tax because the grantee has failed to\npay, such tax shall be the joint and several liability of the grantor\nand the grantee.\n (c) Except as otherwise provided in this section, all the provisions\nof this article relating to or applicable to the administration,\ncollection, determination and distribution of the tax imposed by section\nfourteen hundred two of this article shall apply to the tax imposed\nunder the authority of this section with such modifications as may be\nnecessary to adapt such language to the tax so authorized. Such\nprovisions shall apply with the same force and effect as if those\nprovisions had been set forth in this section except to the extent that\nany provision is either inconsistent with a provision of this section or\nnot relevant to the tax authorized by this section.\n