New York S05716 requires joint tax returns for residential real estate cash purchases by limited liability companies to include a document.

New York S05716 amends the tax law to require that certain joint tax returns for residential real estate cash purchases by limited liability companies must be accompanied by a document identifying the sources of funds used for the purchase. This includes the type of funding, bank account information, and the amount used by each source of funds. If any funds originated from a foreign national, the document must also identify the foreign national and any corporate entities they own.

New York S05716 requires joint tax returns for residential real estate cash purchases by limited liability companies to include a document.

New York S05716 amends the tax law to require that certain joint tax returns for residential real estate cash purchases by limited liability companies must be accompanied by a document identifying the sources of funds used for the purchase. This includes the type of funding, bank account information, and the amount used by each source of funds. If any funds originated from a foreign national, the document must also identify the foreign national and any corporate entities they own.