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Stock transfer tax

The stock transfer tax is imposed on the sale or transfer of any of the following that occur within New York State:

  • stock
  • agreements to sell stock
  • memoranda of sales of stock
  • certificates of stock
  • certificates of rights to stock 
  • certificates of interest in property or accumulations 
  • certificates of deposit
  • certificates of interest in business conducted by trustees

Tax rates

Selling priceRate (cents per share)
Sale or agreement to sell at less than $5 per share 1 ¼ ¢
Sale at $5 or more but less than $10 per share 2 ½ ¢
Sale at $10 or more but less than $20 per share 3 ¾ ¢
Sale at $20 or more per share 5 ¢
Transfers of stock or certificates of interest other than by sale 2 ½ ¢

Procedure for paying tax

Taxpayers other than securities brokers and dealers can pay the tax in the following way:

  • purchasing tax stamps;
  • affixing them to the bill of sale or stock certificate surrendered; and then
  • canceling the tax stamps so they can't be used again.

Taxpayers who pay stock transfer tax through the purchase of stamps can obtain a 100% rebate of the tax paid by filing a claim with the Tax Department. For more information see, TSB-M-82(6)M Stock Transfer Tax Rebate Program Stamp Users.

Securities brokers and dealers may pay stock transfer tax through a clearing corporation or other authorized agent without the use of tax stamps.

Certain transfers are exempt from tax if accompanied by a proper exemption certificate.

Returns and instructions

More information

 

Updated: November 29, 2010