Friday, August 27, 2010

Title Sales Tax

Effective September 1, 2010, title related services inclusive of all relevant searches, which are not used in the course of preparing a title insurance policy will be subject to New York State and Local Sales and Compensation Use taxes. Now it will be even more expensive to buy a house in New York State. Its important for agents and attorneys to understand this tax and carefully explain it to their clients. A great source for more information on the tax can be found by clicking here.