New York S10318 establishes a tax credit for same-sex couples who re-recorded their residential property deeds after the legalization of same-sex.

New York S10318 establishes a tax credit for same-sex couples who purchased residential property before the legalization of same-sex marriage, were unable to record the deed as tenants by the entirety, and re-recorded the deed to reflect the change in status. The credit is the lesser of $500 or the allowable recording fee. The credit is available only once per taxpayer and residence, and cannot be claimed by the taxpayer's spouse. The credit is not available to taxpayers with a combined gross income exceeding $300,000 or to commercial properties.

New York S10318 establishes a tax credit for same-sex couples who re-recorded their residential property deeds after the legalization of same-sex.

New York S10318 establishes a tax credit for same-sex couples who purchased residential property before the legalization of same-sex marriage, were unable to record the deed as tenants by the entirety, and re-recorded the deed to reflect the change in status. The credit is the lesser of $500 or the allowable recording fee. The credit is available only once per taxpayer and residence, and cannot be claimed by the taxpayer's spouse. The credit is not available to taxpayers with a combined gross income exceeding $300,000 or to commercial properties.