Commercial mortgage recording tax refund in New York State!
I was meeting with a CPA on Friday who described a program in New York State that exists but that is not well advertised by the state for obvious reasons.
It applies only to commercial mortgages but the bottom line is that it provides for a mortgage recording tax refund of $2,500 per $1MM of mortgage amount and can be applied for by simply filing the proper paperwork with the state.
The refund is limited to commercial mortgages originated within three years of any given date, after which the refund will no longer be applicable.
In our discussions he said that not that many CPA’s are aware of the program.
If you or someone you know is involved in the buying, selling or financing of commercial real estate it sounds as if this is program that most definitely needs to be explored.
If interested in learning more, please let me know.
Mike Haltman, Partner
HALLMARK ABSTRACT SERVICE
“We work harder to make your closings easier!”
Visit us at our website here.
For any title insurance questions in New York or if you would like to meet with Hallmark Abstract Service, please contact us using any of the following:
Email: orders@hallmarkabstractllc.com
Phone: 516.741.4723
Mail: 131 Jericho Turnpike, Suite 205
Jericho, New York 11753
All data and information provided on this site is for informational purposes only. Hallmark Abstract Service makes no representations as to accuracy, completeness, currentness, suitability, or validity of any information on this site and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. All information is provided on an as-is basis.
Google+