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 price | Rate (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
- Form TD-624, Stock Transfer Tax Stamps Order Form
- Form MT-610.1, Stock Transfer
- Form MT-650, Stock Transfer Tax Return
More information
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