Tax Transfer

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Prepare and file your income tax return with Free File!

Transfer

If your 2020 income was $72,000 or less, you're eligible to use Free File income tax software. It's our no-cost way to easily complete and file your federal and New York State income tax returns online. For more information, see Free File your income tax return. To be sure you aren't charged a fee, access the Free File software that's right for you directly from our website.

Withholding tax filers

Transfer tax varies by state, but it's typically a percentage of the sale price or market value of the home. Most state laws make transfer tax a set rate for every $500 of the property value.

TurboTax for Windows personal CD/Download desktop software will transfer last year's tax data file (.tax2019 file) or PDF from the 2019 TurboTax desktop or online software. It even transfers PDFs created in TaxACT or H&R Block tax prep software. We'll transfer over 100 fields to help you get a head. For example, a long-time homeowner selling a $1 million home with a $200,000 tax assessment to move into a $1.5 million condo closer to their grandchildren will see a higher tax bill. Upon the transfer of the deed to the buyers the seller pays the RTF, which is based on their property's sales price. Payment of the RTF is a prerequisite for recording the deed, and it should be noted that in addition to the transfer fee paid by the sellers, a 1% fee must be paid by the buyer on all transactions over $1,000,000 in all. The Colorado Department of Revenue offers an Electronic Funds Transfer (EFT) tax payment service. You may use EFT to pay more than 50 types of business and personal tax liabilities. For a complete list of accepted tax liabilities, see the DR 5785.

Quarterly withholding tax and wage reporting returns (Forms NYS-45 and NYS-45-ATT) are due Monday, February 1, 2021. To e-file:

  • Select the ≡ Services menu from your Account Summary homepage.
  • Choose the online service you need from Employment and withholding:
    • NYS-45 web file
    • NYS-45 upload (for use by authorized agents only)
    • Wage reporting upload (NYS-45-ATT)

Tax Transferee Liability

Reminder: The fourth-quarter wages and withholding are reported the same as all other quarters: the amount of wages paid and tax withheld is for that quarter only.

Featured Resources

Choose an online service

We offer a number of online services to fit your busy lifestyle. Check your payment balance, file a return, make a payment, or respond to a department notice—anywhere, anytime.

Learn about STAR benefits for homeowners

If you've recently bought a home, or never applied for the STAR benefit on your current home, you should investigate the STAR options available to you. You may save hundreds each year!

Use Sales Tax Web File

Log in to your Business Online Services account to Web File your sales tax returns. With Web File, you can schedule payments in advance, save your bank account information for future use, and update your business information.

Tax Department response to novel coronavirus (COVID-19)

Owners of property subject to a tax lien sale or tax foreclosure who own ten or fewer residential dwelling units (including their primary residence) may declare a COVID-19-related hardship if they meet certain conditions. See Tax Department response to novel coronavirus (COVID-19) for more information.

Explore our new Financial Education Program

The Financial Education Program is a series of short modules and videos designed to take you through the benefits available to you and the responsibilities you have as a New York State taxpayer. You can start anywhere in the series or review all the modules. This is for you—let us know what you think!

Find forms and instructions

2020 Forms IT-201 and IT-203 will be available in late January. However, instructions for these forms, as well as other 2020 income tax forms, are already available. We encourage you to e-file your personal income tax return and choose direct deposit—it's the fastest, easiest way to file. Free filing options are available for taxpayers who qualify.

What's New

Tax Transfer Fee

Forms 1099-G

If you received an income tax refund from us for tax year 2019, view and print New York State's Form 1099-G on our website; you may need to report this information on your 2020 federal income tax return.

Unemployment insurance (UI) recipients: Visit Department of Labor for your unemployment Form 1099-G.

New York State tax implications of the federal CARES Act

Learn about the implications of the federal Coronavirus Aid, Relief and Economic Security Act (CARES ACT), and the Consolidated Appropriations Act on New York State personal and corporation taxes.

NYS-45-ATT filers: Changes to Wage Reporting Upload

Tax Transfer Pricing

For calendar quarters beginning on or after January 1, 2021, you'll use a new, improved Online Services application to upload your wage reporting bulk files.

Featured in February

Sales tax relief for New Yorkers impacted by COVID-19

Sales tax payments and returns were due 12/21/20, however, penalty and interest may be waived for certain restaurants or other food establishments.

FAQs about filing requirements, residency, and telecommuting

This page summarizes current New York state law and guidance relating to frequently asked questions due to the COVID-19 pandemic.

Tax preparer registration

If you have not completed the 2021 Registration Education Requirements, you’ll need to complete it before you can register for 2021.

Request an installment payment agreement

If you're unable to pay your tax bills in full, you may qualify for an installment payment agreement (IPA); you'll make monthly payments toward your unpaid tax balance.

View our due dates calendar

Looking for your due date? View our calendar of filing due dates for corporation tax, personal income tax, and sales tax.

Learn about the Charitable Gifts Trust Fund

Tax Transfer From Selling Primary Residence

The FY 2019 Budget created a new Charitable Gifts Trust Fund in the joint custody of the New York State Commissioner of Taxation and Finance and the State Comptroller to accept donations for the purposes of improving health care and public education in New York State. If you're interested in making a contribution, review our guidance to learn more.

Calculate Real Estate Transfer Tax Rates

Property transfer tax is an assessment charged by both the State of Michigan and the individual county. When you transfer real estate, they charge a fee as a percentage of the sales price. The seller is responsible for this fee unless it is otherwise agreed to be paid by the buyer. This fee is reported on a document called a 'Real Estate Transfer Valuation Affidavit'.

Enter the sales price of your property below

The tool will output the county tax, state tax and total tax due on sale.



Related: Michigan Title Insurance Calculator

Computing real estate transfer tax is done in increments of $500. The state charges $3.75 for each increment and the county charges $.55 (which an be up to $.75 as authorized by the county board of commissioners with a population more than 2,000,000 or more). These combined represents the total tax obligation. The Michigan legislation states:

Beginning on January 1, 1995, except as otherwise provided in this section, the tax imposed under sections 3 and 4 is levied at the rate of $3.75 for each $500.00 or fraction of $500.00 of the total value of the property being transferred. (Read more at STATE REAL ESTATE TRANSFER TAX ACT - MCL 207.525 Sec. 5 (Act 330 of 1993) - State)

The county tax is calculated in the same method but at a rate of 55 cents per $500. A rate up to 75 cents per $500 is allowed if the county's population is more than 2 million (Read more at REAL ESTATE TRANSFER TAX - MCL 207.504 Sec. 4 (Act 134 of 1966) - County).

Download Printable Real Estate Tax Rate Charts:


NOTE: This tool is intended to be used for illustrative purposes only. Estimates are not guaranteed and may be different based on your individual situation. Riverbank Finance LLC does not provide tax or legal advice. It is recommended that you consult with a tax attorney for advice on your situation.