Court of Appeals of New York

In this tax action, plaintiffs seek a declaratory judgment that the real property transfer tax (RPTT) is inapplicable because the tax applies only to transfers and conveyance of real property or economic interests in real property, from one entity to another, and not to plaintiff's exit from the Mitchell-Lama program as a result of corporation "reconstitution." Order declaring that the RPTT was improperly imposed is affirmed, where a taxable transfer pursuant to Tax Law section 1201(b) and NY Administrative Code section 11-201(a) does not occur when a residential housing cooperative corporation terminates its participation in the Mitchell-Lama program and amends its certification of incorporation as part of its voluntary dissolution and reconstitution as a cooperative corporation.

Appellate Information

• Decided 12/17/2014
• Published 12/17/2014

Judges

• Abdus-Salaam

Court

• Court of Appeals of New York

Counsel