New York A08398 requires joint tax returns for residential real estate cash purchases by limited liability companies to include a document.

New York A08398 amends the tax law to mandate that joint tax returns for residential real estate cash purchases by limited liability companies must be accompanied by a document detailing the sources of funds. This document must specify the type of funding, bank account information, and the amount used from each source. If any funds originate from a foreign national, the document must also identify the foreign national, including their name, address, and any corporate entities they own. The document must be filed with the recording officer before the conveyance instrument can be recorded.

New York A08398 requires joint tax returns for residential real estate cash purchases by limited liability companies to include a document.

New York A08398 amends the tax law to mandate that joint tax returns for residential real estate cash purchases by limited liability companies must be accompanied by a document detailing the sources of funds. This document must specify the type of funding, bank account information, and the amount used from each source. If any funds originate from a foreign national, the document must also identify the foreign national, including their name, address, and any corporate entities they own. The document must be filed with the recording officer before the conveyance instrument can be recorded.