ÿWPC o<² ÎdOeŒDúCP‹Ð~ywâ<'(W[Ò6-—·ÎE„ÍŽ&ÕmÄAÞ<Êù«Œ\aæÂl÷Ü ^räõ4èã÷X¯uŸÇ®kü›h3"Ü×LÒÕ——ÒÍ€Hò±Ò1çiªØã}¥^þ®ÿëä&°õ¬d¤ˆ5¥s‹rP€˜|3»r©‚°•_¶´›²†Â?#Zê–÷Ô]©â‹0Ù“ ǯݨ}¡ïKÜ: ǧ‚ ÎSá®Ýì ¨(¸:3 –•õ\\,æËsÞÙ, ÓS"Ž…q_¹ÑÎ=«ÿŒÑXŒÓå: ™ÁRÃ]Ü–|S=J…¤$tÍuìOåêh:‚Vœ‘Z:©U½²NnoL-zÂDµðl?Wš*ä"4ªõ3b^Ko*Ê5 ¶—Ϥ-k°SRé~ÝÈQAn³NºÓè G ÂÞþ¬A À%>O£»7A )sé:Gë85VbñÓïãðÛ»;‡á*PЛíhûŠˆ¶D ™ùÅC–§ÑqÕ-œ•8¾À”×ñS³Ÿžþ#WA褠z¹qk'.’æ!rM ¥ÌtÞ IõãÑ\ÌÑTÕòh¸Ãô1 î¿îƒ’ÏÂØv—*¸ùùXdÌkUNÚ %( 0:.#Éh Ž1 ê¿ b© 72± UNã w1 ^ 5 4A 0VU « º  mÄ NÛ Û Û Û Û Û Û Û Û Û Û Û Û Û Û Û Û Û Û Û Û Û Û Û Û Û Û Û Û Û Û Û Û Û Û Û Û Û Û Û Û Û Û Û Û Û Û Û Û Û Û Û Û Û Û Û Û Û Û Û Û Û IÝ Ý Ý Ý Ý Ý Ý Ý Ý Ý Æ&&&&&& 0aìììììììììì 1uM(ÖÃ9 Z‹6Times New Roman RegularX(üœ$¡¡ÔUSUS.,Ô˜\\albprintb9\CO910011B22dd2B20˜d:\DOCUME~1\a23538\APPLIC~1\Corel\PERFEC~2\10\CUSTOM~1\REGULA~1.WPTd:\Documents and Settings\a23538\Application Data\Corel\PerfectExpert\10\Custom WP Templates\Regulation Template.wpt- ù-ji)¾6Times New Roman Regular·’7/— (u)/ê:i¢×+00(.3½Ö$¨¨Ý ƒüœ!ÝÔUSUS.,ÔÝ  Ý3|x ÿU‹ÿÀÀÀ ?Ý ƒ ½Ö(ÝÔUSUS.,ÔÝ  ÝÔ_ÔÔ_ÔÒX°ÒÒX°ÒÔ‡è\kçXXÔò òÓ  ÓÔ_Ôó óÔ_ÔÔ_Ôò òÔ#†X2dXçè\ki#ÔÔ‡è\kçXX2dÔó óÔ_ÔÌÓ‹ÓÓ  Ó1, 2, 3,Level 1Level 2Level 3Level 4Level 5(9fÈ$´´Section€Ô2#ÔÚ  Ú0Ú  Ú.Ô3  Ô€€3#37=CIQYag­­1.a.i.(1)(a)(i)1)a)Ý ƒüœ!ÝÔUSUS.,ÔÝ  ÝÔ_ÔÒX°ÒÒX°ÒÑ  ÑÑ€ÑÑ8€ 2d XXdìdÈ8ÑÖ€PÿÿÖÑÈÑÑ  ÑÓÓà@ìì"ìàSTATE€OF€NEW€YORKˆÐ ¼ Ðà@â â ìàDEPARTMENT€OF€TAXATION€AND€FINANCEˆÐ ” Ø Ðà@‡ ‡ ìàCOMMISSIONER€OF€TAXATION€AND€FINANCEˆÐ l ° Ðà@"ìàALBANY,€NEW€YORKˆÐ D ˆ ÐÌÓ  Óà ° àPursuant€to€the€authority€contained€in€subdivision€First€of€section€171,€section€663€and€subsection€(a)€ofÐ ô8  Ðsection€697€of€the€Tax€Law,€the€Commissioner€of€Taxation€and€Finance,€at€an€open€meeting€held€on€even€date€withÐ Ì  Ðthe€signing€of€this€adoption,€hereby€makes€and€adopts€as€an€emergency€measure€the€following€amendments€to€theÐ ¤è  ÐNew€York€State€Personal€Income€Tax€Regulations,€as€published€in€Subchapter€A€of€Chapter€II€of€Title€20€of€theÐ |À ÐOfficial€Compilation€of€Codes,€Rules€and€Regulations€of€the€State€of€New€York,€such€amendments€to€read€asÐ T˜ Ðfollows:Ð ,p Ðà ° àSection€1.€€€A€new€part€163€is€added€to€such€regulations€to€read€as€follows:Ð H ÐÓ  ÓPART€163Ð Ü  ÐESTIMATED€PERSONAL€INCOME€TAX€DUE€UPON€THE€SALE€OR€TRANSFER€OF€REAL€PROPERTYÐ ´ø ÐBY€A€NONRESIDENT€TAXPAYERà @ à€€€€Ð Œ!Ð ÐÓÓÓ  Ó(Statutory€authority:€Tax€Law,€ðððð171,€663,€697)Ð d#¨ ÐÓ! XX¨ý°œX!Óà€@€%€%P€%àÓõÓSec.Ð <%€  Ð163.1à0 ° àà0°€%°€%àGeneral€and€definitionsÐ'X"€%€% Ð163.2à0 ° àà0°€%°€%àEstimation€of€tax€dueÐì(0!$€%€% Ð163.3à0 ° àà0°€%°€%àFiling,€payment,€and€certificationÐÄ*#&€%€% Ð163.4à0 ° àà0°€%°€%àExemption€from€requirementsÐ#œ,à$(€%€%ý #Ð163.5à0 ° àà0°€%°€%àCertification€requirements€for€recording€of€deedм€%€% ÐÌSection€163.1€€General€and€definitions.€€Ð l ° Ðà ° à(a)€Section€663€of€the€Tax€Law€requires€that€a€nonresident€taxpayer€must€estimate€and€pay€the€personalÐ D ˆ Ðincome€tax€liability€on€the€gain,€if€any,€upon€€the€sale€or€transfer€of€real€property€within€New€York€Ô_ÔState.Ô_Ô€ForÐ ` Ðpurposes€of€this€requirement,€the€following€rules€and€definitions€apply:Ð ô8  Ðà ° à€€€(1)€ð ðDate€of€sale€or€transferðð€is€the€date€the€deed€affecting€the€conveyance€is€delivered€by€the€seller€orÐ Ì  Ðtransferor€to€the€transferee.€Ð ¤è  ÐÓ0XúX°‚,` ‹X¨ýXX¨ý0Óà ° à€€€(2)€ð ðNonresident€taxpayer.ðð€(Ô_ÔiÔ_Ô)€A€nonresident€taxpayer€€is€an€individual€who€qualifies€as€a€nonresidentÐ |À Ðindividual€under€section€605(b)(2)€of€the€Tax€Law,€or€an€estate€or€€trust€that€qualifies€as€a€nonresident€estate€or€trustÐ T˜ Ðunder€section€605(b)(4)€of€the€Tax€Law,€on€the€date€of€sale€or€transfer€of€real€property.€€Ð ,p Ðà ° àà Ü àà  à(ii)€An€individual€who€is€not€domiciled€in€New€York€State€but€who€may€be€considered€a€resident€ofÐ H ÐNew€York€State€for€tax€purposes€under€section€605(b)(1)(B)€of€the€Tax€Law€at€the€end€of€a€taxable€year,€by€virtueÐ Ü  Ðof€maintaining€a€permanent€place€of€abode€in€New€York€State€for€substantially€all€of€the€taxable€year€and€byÐ ´ø Ðspending€in€aggregate€more€than€one€hundred€eighty„three€days€of€the€taxable€year€in€New€York€State,€is€aÐ Œ!Ð Ðnonresident€for€purposes€of€this€requirement€unless€the€individual€€has€already€qualified€as€a€resident€on€the€dateÐ d#¨ Ðof€sale€or€transfer€of€real€property.€(See€section€105.20€of€this€Title€concerning€qualifying€as€a€resident€under€sectionÐ <%€  Ð605(b)(1)(B).)Ð 'X" Ðà ° àà Ü à(3)€ð ðGainðð€on€the€sale€or€transfer€has€the€same€meaning€as€used€in€section€1001€of€the€Internal€RevenueÐ ì(0!$ ÐCode€as€that€section€applies€to€the€sale€or€transfer€of€real€property.€€Ð Ä*#& Ðà ° àà Ü à(4)€ð ðSale€or€transfer€of€real€propertyðð€means€the€€change€of€ownership€of€a€fee€simple€interest€in€realÐ œ,à$( Ðproperty€by€any€method.€€€Ð ¼ Ðà ° àà Ü à(5)€ð ðSeller€or€transferorðð€means€the€individual,€estate,€or€trust€making€the€sale€or€transfer€of€a€fee€simpleÐ ” Ø Ðinterest€in€real€property.€Ð l ° ÐSection€163.2€Estimation€of€tax€due.€Ð D ˆ Ðà ° à(a)€A€nonresident€taxpayer€must€estimate€the€personal€income€tax€due€on€a€form€prescribed€by€theÐ ` Ðcommissioner,€using€an€estimated€tax€rate€that€equals€the€highest€rate€of€tax€for€the€taxable€year€provided€in€sectionÐ ô8  Ð601€of€the€Tax€Law.€€The€estimated€tax€due€will€equal€the€gain,€if€any,€multiplied€by€that€rate.€The€amount€of€theÐ Ì  Ðgain€used€in€the€computation€is€equal€to€the€amount€reportable€for€federal€income€tax€purposes€for€the€taxable€year.€Ð ¤è  Ðà ° à(b)€If€the€real€property€being€sold€or€transferred€is€located€partly€within€and€partly€without€New€York€State,Ð |À Ðthen€the€nonresident€taxpayer€must€estimate€the€tax€due€using€only€the€portion€of€the€gain€reasonably€attributableÐ T˜ Ðto€the€portion€of€the€real€property€located€within€New€York€State.€Ð ,p Ðà ° à(c)€If€the€nonresident€taxpayer€is€an€estate€or€trust,€it€must€estimate€the€tax€due€based€on€the€gain,€if€any,Ð H Ðcomputed€without€reduction€for€any€distribution€of€income€to€the€€beneficiaries€during€the€tax€year€of€the€sale€orÐ Ü  Ðtransfer.Ð ´ø ÐSection€163.3€€Filing,€payment,€and€certification.Ð Œ!Ð Ðà ° à(a)€A€nonresident€taxpayer€must€file€the€estimated€tax€form€with€the€commissioner,€along€with€payment€ofÐ d#¨ Ðany€estimated€tax€due,€using€the€procedures€prescribed€in€such€form€and€accompanying€instructions.€€Except€for€aÐ <%€  Ðnonresident€taxpayer€who€meets€one€of€the€exemptions€from€the€requirements€described€in€section€163.4€of€this€Part,Ð 'X" Ðall€nonresident€taxpayers€who€are€sellers€or€transferors€of€real€property€within€New€York€State€must€file€theÐ ì(0!$ Ðestimated€tax€form€whether€or€not€they€have€a€gain.Ð Ä*#& Ðà ° à(b)€After€the€required€form€and€payment€have€been€received,€the€commissioner€will€provide€the€nonresidentÐ œ,à$( Ðtaxpayer€with€a€certification€of€receipt€of€the€filing€and€payment€made€by€the€taxpayer.€This€certification€will€beÐ ¼ Ðprovided€only€when€the€estimated€tax€shown€due€on€the€form,€if€any,€is€paid€in€full.Ð ” Ø ÐSection€163.4€€Exemption€from€requirements.€Ð l ° Ðà ° à(a)€Section€663(d)€of€the€Tax€Law€provides€that€the€requirements€of€section€663€do€not€apply€€where:Ð D ˆ Ðà ° à€€€€€(1)€the€real€property€being€sold€or€transferred€is€the€principal€residence€of€the€seller€or€transferor€withinÐ ` Ðthe€meaning€of€section€121€of€the€Internal€Revenue€Code€(see€subdivision€(b)€of€this€section);Ð ô8  Ðà ° à€€€€€(2)€the€seller€or€transferor€is€a€mortgagor€conveying€the€mortgaged€property€to€a€mortgagee€in€foreclosureÐ Ì  Ðor€in€a€transfer€in€lieu€of€foreclosure€with€no€additional€consideration€(see€definition€of€ð ðconsiderationðð€in€sectionÐ ¤è  Ð575.1(d)€of€this€Title);€€or€Ð |À Ðà ° à€€€(3)€the€seller€or€transferor,€or€transferee€is€an€agency€or€authority€of€the€United€States€of€America,€anÐ T˜ Ðagency€or€authority€of€New€York€State,€the€Federal€National€Mortgage€Association,€the€Federal€Home€LoanÐ ,p ÐMortgage€Corporation,€€the€Government€National€Mortgage€Association,€or€a€private€mortgage€insurance€company.Ð H Ðà ° à(b)€The€principal€residence€exemption€set€forth€in€paragraph€(a)(1)€of€this€section€applies€only€where€theÐ Ü  Ðproperty€being€sold€or€transferred€is€used€exclusively€as€the€principal€residence€of€the€seller€or€transferor.€If€theÐ ´ø Ðproperty€being€sold€or€transferred€includes€both€the€principal€residence€and€other€property,€then€the€taxpayer€mustÐ Œ!Ð Ðfile€and€pay€any€estimated€tax€due€based€on€the€gain€from€the€other€property.€€€€€€Ð d#¨ ÐSection€163.5€€Certification€requirements€for€recording€of€deed.€€Ð <%€  Ðà ° à(a)€€No€deed€shall€be€recorded€by€any€recording€officer€unless€the€recording€officer€has€received€with€respectÐ 'X" Ðto€every€seller€or€transferor€who€is€an€individual,€estate€or€trust:€(1)€a€certification€by€the€commissioner€that€the€Ð ì(0!$ Ðindividual,€estate€or€trust€has€filed€and€paid€the€estimated€tax€due,€if€any,€or,€(2)€a€certification€by€the€individual,Ð Ä*#& Ðestate€or€trust€that€section€663€is€inapplicable€to€the€sale€or€transfer.€€€The€method€for€taxpayers€to€make€the€latterÐ œ,à$( Ðcertification€is€prescribed€in€forms€and€instructions.€For€purposes€of€€section€663(e),€a€€recording€officer€means€theÐ ¼ Ðcounty€clerk€of€the€county,€except€in€a€county€having€a€register,€where€it€means€the€register€of€the€county,€or€in€theÐ ” Ø Ðcity€of€New€York€where€it€means€the€city€register.€€Ð l ° Ðà ° àÌà ° àà Ü àSection€2.€€These€amendments€shall€take€effect€on€the€day€Ô_ÔsuchÔ_Ô€amendments€are€filed€with€theÐ ` ÐDepartment€of€State,€and€shall€apply€to€all€sales€or€transfers€of€real€property€within€New€York€State€by€taxpayersÐ ô8  Ðsubject€to€Article€22€of€the€Tax€Law€on€or€after€September€1,€2003.Ð Ì  ÐÓÓà ° àà Ü àà  àà ` àà ¸ àà  àà h àà À àÌà ° àà Ü àà  àà ` àà ¸ àà  àà h àà À àà  àà p àà È àà  àà x àà Ð àÌÌDated:€€Albany,€New€YorkÐ h¬ Ðà ° à€August€26,€2003à ¸ àà  àà h àà À àà  àà p àà È àà  àÐ T˜ ÐÌà ° àà Ü àà  àà ` àà ¸ àà  àà h àà À à_______________________________Ð ,p Ðà ° àà Ü àà  àà ` àà ¸ àà  àà h àà À àArthur€J.€RothÐ \ Ðà ° àà Ü àà  àà ` àà ¸ àà  àà h àà À àCommissioner€of€Taxation€and€Finance