State Codes and Statutes

Statutes > New-york > Tax > Article-33-b > 1563

§  1563.  Liability  for tax. 1. The real estate transfer tax shall be  paid by the buyer.    2. For the purpose of the proper administration of this article and to  prevent evasion of the tax hereby imposed, it shall be presumed that all  conveyances are taxable. Where the consideration includes property other  than money, it shall be presumed that  the  consideration  is  the  fair  market   value   of   the  real  property  or  interest  therein.  These  presumptions shall prevail until the contrary is proven, and the  burden  of proving the contrary shall be on the person liable for payment of the  tax.

State Codes and Statutes

Statutes > New-york > Tax > Article-33-b > 1563

§  1563.  Liability  for tax. 1. The real estate transfer tax shall be  paid by the buyer.    2. For the purpose of the proper administration of this article and to  prevent evasion of the tax hereby imposed, it shall be presumed that all  conveyances are taxable. Where the consideration includes property other  than money, it shall be presumed that  the  consideration  is  the  fair  market   value   of   the  real  property  or  interest  therein.  These  presumptions shall prevail until the contrary is proven, and the  burden  of proving the contrary shall be on the person liable for payment of the  tax.

State Codes and Statutes

State Codes and Statutes

Statutes > New-york > Tax > Article-33-b > 1563

§  1563.  Liability  for tax. 1. The real estate transfer tax shall be  paid by the buyer.    2. For the purpose of the proper administration of this article and to  prevent evasion of the tax hereby imposed, it shall be presumed that all  conveyances are taxable. Where the consideration includes property other  than money, it shall be presumed that  the  consideration  is  the  fair  market   value   of   the  real  property  or  interest  therein.  These  presumptions shall prevail until the contrary is proven, and the  burden  of proving the contrary shall be on the person liable for payment of the  tax.