Get the free TSB-A-97(9)R Real Estate Transfer Tax TSB-A-97(2)M Stock Transfer Tax - tax ny

This document is an advisory opinion issued by the New York State Department of Taxation and Finance regarding the implications of a share exchange for the Real Estate Transfer Tax and Stock Transfer

How to fill out tsb-a-979r real estate transfer

How to fill out TSB-A-97(9)R Real Estate Transfer Tax TSB-A-97(2)M Stock Transfer Tax

1. Obtain the TSB-A-97(9)R and TSB-A-97(2)M forms from the appropriate state tax authority website or office.
2. Fill out the header section with relevant identification information including the name, address, and taxpayer ID number.
3. For TSB-A-97(9)R, provide details of the real estate transaction including the property address, sale price, and date of transfer.
4. For TSB-A-97(2)M, detail the stock transfer information including the number of shares, value of the stock, and any applicable exemptions.
5. Calculate the tax due based on the specific rates applicable to real estate or stock transfers.
6. Add any required supporting documents or schedules as instructed on the forms.
7. Review the completed forms for accuracy, ensuring all information is filled out correctly.
8. Submit the forms along with payment or arrange for electronic payment as directed in the instructions.

Who needs TSB-A-97(9)R Real Estate Transfer Tax TSB-A-97(2)M Stock Transfer Tax?

1. Individuals or businesses involved in the transfer of real estate in the state.
2. Corporations or entities that are transferring stock ownership.
3. Tax professionals assisting clients with real estate or stock transactions.
4. Anyone responsible for filing taxes related to property or stock transfers as mandated by state law.

People Also Ask about

What is stock transfer tax?

Stock transfer taxes are levied on the transfer of stocks or shares between parties and are a key consideration in financial transactions. These taxes contribute to government revenue and impact the total cost of buying or selling stocks.

Do you pay taxes when you transfer stocks?

You'll get a 1099 from each broker the following Jan/Feb for the activity that happened in each account, but the transfer itself has no tax effect. If you have some kind of proprietary mutual funds that can't be transferred and have to be sold, then that of course is a taxable event.

Who pays transfer tax in NY?

The base tax and additional base tax are paid by the grantor (seller), and such tax shall not be paid directly or indirectly by the grantee (buyer) except as provided in a contract between seller and buyer. However, if the seller doesn't pay the tax, or is exempt from the tax, the buyer must pay the tax.

Who pays transfer tax in NY?

The base tax and additional base tax are paid by the grantor (seller), and such tax shall not be paid directly or indirectly by the grantee (buyer) except as provided in a contract between seller and buyer. However, if the seller doesn't pay the tax, or is exempt from the tax, the buyer must pay the tax.

What is US transfer tax?

Key Takeaways. A transfer tax is charged by a state or local government to complete a sale of property from one owner to another. The tax is typically based on the value of the property. A federal or state inheritance tax or estate tax may be considered a type of transfer tax.

What is the purpose of transfer tax?

A transfer tax is charged by a state or local government to complete a sale of property from one owner to another. The tax is typically based on the value of the property. A federal or state inheritance tax or estate tax may be considered a type of transfer tax.

How to avoid transfer tax in NY?

In some circumstances, you can avoid a small portion of the transfer taxes. When selling a house or condo with a mortgage, your buyer can utilize a CEMA. Most of the CEMA savings will come from the buyer avoiding the mortgage recording tax but the seller also saves on the NYS transfer taxes.

What is the transfer tax in OK real estate?

Oklahoma Real Estate Transfer Taxes: An In-Depth Guide (2025 Update) Oklahoma's current transfer tax rate is $0.75 per $500. So, for a house worth $203,633 — the median home price in the state — the transfer tax due will be $305.

For pdfFiller’s FAQs

What is TSB-A-97(9)R Real Estate Transfer Tax TSB-A-97(2)M Stock Transfer Tax?

TSB-A-97(9)R pertains to the Real Estate Transfer Tax, which is a tax imposed on the transfer of real property in New York State. TSB-A-97(2)M relates to the Stock Transfer Tax, which is a levy on the transfer of shares in a corporation. Both taxes are part of New York's taxation framework.

Who is required to file TSB-A-97(9)R Real Estate Transfer Tax TSB-A-97(2)M Stock Transfer Tax?

Individuals or entities that are involved in the transfer of real estate or stocks, respectively, are required to file these taxes. This includes sellers and buyers of real estate properties and parties involved in corporate stock transactions.

How to fill out TSB-A-97(9)R Real Estate Transfer Tax TSB-A-97(2)M Stock Transfer Tax?

To fill out the forms, you must provide detailed information about the transaction, including the names of the parties involved, property or stock details, the value of the transfer, and the applicable tax calculations. Proper guidance should be followed from the forms' instructions.

What is the purpose of TSB-A-97(9)R Real Estate Transfer Tax TSB-A-97(2)M Stock Transfer Tax?

The purpose of these taxes is to generate revenue for state and local governments and to regulate and document the transfer of property and securities, ensuring compliance with tax laws.

What information must be reported on TSB-A-97(9)R Real Estate Transfer Tax TSB-A-97(2)M Stock Transfer Tax?

The information required includes the name and address of the transferor and transferee, the description and value of the real property or stock being transferred, the date of transfer, and any exemptions that may apply.