NYS 2016 Budget Reinstates the Refund of the Special Additional Mortgage Recording Tax

On Friday evening, April 1, 2016 the New York State Budget was passed. The budget included the following language: PART LL “Section 1. Paragraph (b) of subdivision 9 of section 210-B of the tax law, as added by section 17 of part A of chapter 59 of the laws of 2014, is amended to read as follows: (b) Carryover or refund. In no event shall the credit herein provided for be allowed in an amount which will reduce the tax payable to less than the fixed dollar…

Read More »