Announcement

Collapse
No announcement yet.

For those leaving NY... another tax

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    For those leaving NY... another tax

    My attorney just informed me that since I'm no longer a resident of NY, I am on the hook for a "non resident real estate tax" when we go to closing on our NY house. That's in addition to all the other taxes, fees, fines, etc... that we paid when we left NY two years ago.
    Africa Part 2: May 2018

    #2
    Have them mail you a bill. Make sure to provide a post officer box number.
    Exercise the Bill of Rights. It's good for your Constitution.

    Comment


      #3
      ny , the gift that keeps giving , I mean taking

      Comment


        #4
        In other words, don't establish residency in another state until you are done closing on your home in NYS. Move into an apartment or relatives temporarily. Can you let us know what the approximate hit is percentage wise?

        Comment


          #5
          So you have already established residency in another state? If so, how long have you been a resident in another state?
          The escape is half complete. The inventor of Hawk fishing. (soon to be seen on ESPN 8 the Ocho)

          Comment


            #6
            We’ve been in Georgia about 2 years. We still file in NY (and GA) since we have rental income. The tax is 8.x% of capital gains - I need to get the breakdown from our attorney handling the closing and details.
            Africa Part 2: May 2018

            Comment


              #7
              Fuck NY.

              I rent.

              Comment


                #8
                I hope you know anyone buying your NY house has to be screened by the people in that neighborhood.
                It’s another NY Law I guess you weren’t aware of.

                "Any man who is good enough to shed his blood for his country is good enough to be given a square deal afterwards. More than that no man is entitled, and less than that no man shall have."
                President T. Roosevelt

                OUR FOREFATHERS WOULD BE SHOOTING BY NOW !

                Comment


                  #9
                  Cap gain rate for fed and NY penalty is 29%

                  Comment


                    #10
                    Well in fairness it’s not “another” tax, it’s just a tax you would have paid had you stayed in NY.
                    Know your rights/Refuse peacefully to consent to a search /Ask if you are free to go or are being detained/Even if you are not doing anything wrong the 4th Amendment protects you against unreasonable searches/Never say anything to law enforcement even if you think it will help you/If questioned you should clearly and unequivocally request that you would like to have an attorney present and defer any questions until then/Never go to prison because you are afraid to go to jail.

                    Comment


                      #11
                      Hmm, Id be interested in seeing that in writing.

                      Comment


                        #12
                        I think we should tax all people not living in NY. And all people standing in streams.

                        Comment


                          #13
                          Originally posted by LIChris View Post
                          My attorney just informed me that since I'm no longer a resident of NY, I am on the hook for a "non resident real estate tax" when we go to closing on our NY house. That's in addition to all the other taxes, fees, fines, etc... that we paid when we left NY two years ago.
                          I kept my NY ID, changed my CDL to FL, so I did not pay that
                          Take a young person shooting.... Take 2 or more if you can...

                          Comment


                            #14
                            Originally posted by NRATC53 View Post

                            I kept my NY ID, changed my CDL to FL, so I did not pay that
                            You did. The gain on the house was in your regular IT-201 for the year (or IT-203). If not you might want to not talk about it on a public forum . . .
                            Know your rights/Refuse peacefully to consent to a search /Ask if you are free to go or are being detained/Even if you are not doing anything wrong the 4th Amendment protects you against unreasonable searches/Never say anything to law enforcement even if you think it will help you/If questioned you should clearly and unequivocally request that you would like to have an attorney present and defer any questions until then/Never go to prison because you are afraid to go to jail.

                            Comment


                              #15
                              according to the form it is 8.82% (form IT-2663) adjusted selling price minus purchase price and improvements.
                              "The only difference between a rut and a grave is the depth."

                              Comment

                              Working...
                              X