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:
- 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
|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