N.Y. Tax Law § 1409 — Returns

§ 1409. Returns. (a) (1) A joint return shall be filed by both the\ngrantor and the grantee for each conveyance whether or not a tax is due\nthereon other than a conveyance of an easement or license to a public\nutility as defined in subdivision two of section one hundred\neighty-six-a of this chapter or to a public utility which is a provider\nof telecommunication services as defined in subdivision one of section\none hundred eighty-six-e of this chapter, where the consideration is two\ndollars or less and is clearly stated as actual consideration in the\ninstrument of conveyance.\n (2) When the grantor or grantee of a deed for a building used as\nresidential real property containing up to four family dwelling units is\na limited liability company, the joint return shall not be accepted for\nfiling unless it is accompanied by a document which identifies the names\nand business addresses of all members, managers, and any other\nauthorized persons, if any, of such limited liability company and the\nnames and business addresses or, if none, the business addresses of all\nshareholders, directors, officers, members, managers and partners of any\nlimited liability company or other business entity that are to be the\nmembers, managers or authorized persons, if any, of such limited\nliability company. The identification of such names and addresses shall\nnot be deemed an unwarranted invasion of personal privacy pursuant to\narticle six of the public officers law. If any such member, manager or\nauthorized person of the limited liability company is itself a limited\nliability company or other business entity other than a publicly traded\nentity, a REIT, a UPREIT, or a mutual fund, the names and addresses of\nthe shareholders, directors, officers, members, managers and partners of\nthe limited liability company or other business entity shall also be\ndisclosed until full disclosure of ultimate ownership by natural persons\nis achieved. For purposes of this subdivision, the terms "members",\n"managers", "authorized person", "limited liability company" and "other\nbusiness entity" shall have the same meaning as those terms are defined\nin section one hundred two of the limited liability company law.\n (3) The return shall be filed with the recording officer before the\ninstrument effecting the conveyance may be recorded. However, if the tax\nis paid to the commissioner pursuant to section fourteen hundred ten of\nthis article, the return shall be filed with such commissioner at the\ntime the tax is paid. In that instance, a receipt evidencing the filing\nof the return and the payment of tax shall be filed with the recording\nofficer before the instrument effecting the conveyance may be recorded.\nThe recording officer shall handle such receipt in the same manner as a\nreturn filed with the recording officer.\n (b) Subject to the provisions of section fourteen hundred twenty-three\nof this article, the return shall be signed by both the grantor and the\ngrantee. Where a conveyance has more than one grantor or more than one\ngrantee, the return shall be signed by all of such grantors and\ngrantees. Where any or all of the grantors or any or all of the grantees\nhave failed to sign a return, it shall be accepted as a return if signed\nby any one of the grantors or by any one of the grantees. Provided,\nhowever, those not signing the return shall not be relieved of any\nliability for the tax imposed by this article and the period of\nlimitations for assessment of tax or of additional tax shall not apply\nto any such party.\n (c) Returns shall be preserved for three years and thereafter until\nthe commissioner of taxation and finance permits them to be destroyed.\n (d) The commissioner shall prescribe the form of the return, the\ninformation which it shall contain and the documentation that shall\naccompany the return. The commissioner shall prescribe that, for\nrecorded conveyances, such return shall be included on the form required\nto be filed with a conveyance of real property by section two hundred\nfifty-three-b of this chapter and the regulations promulgated\nthereunder, except that such commissioner may prescribe a supplemental\nform for purposes of the tax imposed by this article when the conveyance\nis pursuant to or in lieu of foreclosure or the conveyance consists in\npart of a mere change of identity or form of ownership or organization\nor the conveyance is one for which a credit for tax previously paid will\nbe claimed. In addition, the commissioner, in the commissioner's\ndiscretion, may enter into an agreement with the chief fiscal officer of\nthe cities of New York, Yonkers or Mount Vernon to provide that a single\nreturn may be filed with a recording officer for purposes of the tax\nimposed under this article and the tax imposed by such city.\n (e) Certifications. The making or filing of any return or other\ndocument or copy thereof, required to be made or filed pursuant to this\narticle, shall constitute a certification by the person making or filing\nsuch return or other document or copy thereof that the statements\ncontained therein are true and that any copy filed is a true copy.\n