State Codes and Statutes

Statutes > New-york > Tax > Article-31-d > 1449-ff

* §  1449-ff.  Credit. A grantee shall be allowed a credit against the  tax due on a conveyance of real property to the extent tax was  paid  by  such  grantee  on a prior creation of a leasehold of all or a portion of  the same real property or on the granting of an option  or  contract  to  purchase  all  or  a  portion of the same real property by such grantee.  Such credit shall be  computed  by  multiplying  the  tax  paid  on  the  creation  of  the leasehold or on the granting of the option or contract  by a fraction, the numerator of which is the value of the  consideration  used  to  compute  such tax paid which is not yet due to such grantor on  the date of the subsequent conveyance (and which such grantor  will  not  be entitled to receive after such date), and the denominator of which is  the total value of the consideration used to compute such tax paid.    * NB Repealed December 31, 2030

State Codes and Statutes

Statutes > New-york > Tax > Article-31-d > 1449-ff

* §  1449-ff.  Credit. A grantee shall be allowed a credit against the  tax due on a conveyance of real property to the extent tax was  paid  by  such  grantee  on a prior creation of a leasehold of all or a portion of  the same real property or on the granting of an option  or  contract  to  purchase  all  or  a  portion of the same real property by such grantee.  Such credit shall be  computed  by  multiplying  the  tax  paid  on  the  creation  of  the leasehold or on the granting of the option or contract  by a fraction, the numerator of which is the value of the  consideration  used  to  compute  such tax paid which is not yet due to such grantor on  the date of the subsequent conveyance (and which such grantor  will  not  be entitled to receive after such date), and the denominator of which is  the total value of the consideration used to compute such tax paid.    * NB Repealed December 31, 2030

State Codes and Statutes

State Codes and Statutes

Statutes > New-york > Tax > Article-31-d > 1449-ff

* §  1449-ff.  Credit. A grantee shall be allowed a credit against the  tax due on a conveyance of real property to the extent tax was  paid  by  such  grantee  on a prior creation of a leasehold of all or a portion of  the same real property or on the granting of an option  or  contract  to  purchase  all  or  a  portion of the same real property by such grantee.  Such credit shall be  computed  by  multiplying  the  tax  paid  on  the  creation  of  the leasehold or on the granting of the option or contract  by a fraction, the numerator of which is the value of the  consideration  used  to  compute  such tax paid which is not yet due to such grantor on  the date of the subsequent conveyance (and which such grantor  will  not  be entitled to receive after such date), and the denominator of which is  the total value of the consideration used to compute such tax paid.    * NB Repealed December 31, 2030