If you sell a house or an apartment in New York City (NYC), you must pay a
Question:
If you sell a house or an apartment in New York City (NYC), you must pay a real estate transfer tax to both the city and the state. A real estate blog asks the question “Who Pays Transfer Taxes in NYC?” and gives the answer “Generally speaking, in NYC, the seller covers the transfer tax.” Does this answer mean that the real estate transfer tax does not impose a burden on the buyer of a house or an apartment in New York City? Briefly explain.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (2 reviews)
The statement that the seller covers the transfer tax in New York City generally means that the sell...View the full answer
Answered By
Aysha Ali
my name is ayesha ali. i have done my matriculation in science topics with a+ . then i got admission in the field of computer science and technology in punjab college, lahore. i have passed my final examination of college with a+ also. after that, i got admission in the biggest university of pakistan which is university of the punjab. i am studying business and information technology in my university. i always stand first in my class. i am very brilliant client. my experts always appreciate my work. my projects are very popular in my university because i always complete my work with extreme devotion. i have a great knowledge about all major science topics. science topics always remain my favorite topics. i am also a home expert. i teach many clients at my home ranging from pre-school level to university level. my clients always show excellent result. i am expert in writing essays, reports, speeches, researches and all type of projects. i also have a vast knowledge about business, marketing, cost accounting and finance. i am also expert in making presentations on powerpoint and microsoft word. if you need any sort of help in any topic, please dont hesitate to consult with me. i will provide you the best work at a very reasonable price. i am quality oriented and i have 5 year experience in the following field.
matriculation in science topics; inter in computer science; bachelors in business and information technology
_embed src=http://www.clocklink.com/clocks/0018-orange.swf?timezone=usa_albany& width=200 height=200 wmode=transparent type=application/x-shockwave-flash_
4.40+
11+ Reviews
14+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
-
A portion of the housing market in New York City (and many other cities in the world) is regulated through a policy known as rent control. In essence, this policy puts a price ceiling (below the...
-
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
-
On January 1, 2012, Push Company purchased an 80% interest in the capital stock of Way-Down Company for $820,000. At that time, WayDown Company had capital stock of $500,000 and retained earnings of...
-
StatPro has just been presented the following market and production estimates on Product X27, which has been under development in the company. Use the concept of target costing to integrate the...
-
Consider a fictitious online grocery store called Wow Munchies. This is a national franchise, complete with marketing, accounting, shipping, and customer service departments. The CIO has decided to...
-
Briefly discuss the strengths and limitations associated with this approach and the specific design . Develop a hypothetical research scenario that would necessitate the use of the Action Research...
-
Shady Lady sells window coverings (shades, blinds, and awnings) to both commercial and residential customers. The following information relates to its budgeted operations for the current year. The...
-
In the following exercises, use a contour consisting of a long rectangle with one side on the real axis and height 2 for Exercise 6, height for Exercise 7. 7. ex/n dx, n=2, 3,... x ex sinh x dx
-
The federal government imposes a tax on sales of cigarettes. The federal Centers for Disease Control and Prevention compiled the data shown in the following table. Based on these data, is the federal...
-
What is the largest source of revenue for the federal government? What is the largest source of revenue for state and local governments?
-
One kilogram of saturated liquid methane at 160 K is placed in an adiabatic piston-and-cylinder device, and the piston will be moved slowly and reversibly until 25 percent of the liquid has...
-
1. A saturated sample of soil weighed 138.89g before drying and 112.89 after drying.If the dimensions of the sample were 35mm diameter and 70mm long, calculate: 2. The voids ratio to 3 decimal...
-
Jeff Healy, a junior financial analyst at The Soulless Shoe Company, has been asked to calculate this year's dividend. Jeff has gathered the following data: CAPEX (spending on fixed assets): $8,000...
-
Nicholas is filling out summer job applications, so that he can earn money to buy a car. Of the 8 jobs he's applying for, 5 are construction jobs. If Nicholas randomly picks 4 applications to submit...
-
3. Program Logic: import Stmts: List the classes to be imported so your program can use their code. import Scanner Class Header: What is the name of the class? public class BookSales Class Variables...
-
Opportunity cost for Mary for 1 tray of biscuits = 1 pound of tea Opportunity cost for Zoe for 1 tray of biscuits = 3/2=1.5 pounds of tea Opportunity cost for Bill for 1 tray of biscuits = 1/3 = 0.33...
-
Ian McCarthy was president and CEO of Beazer Homes USA, Inc., a publicly held home construction company that was required to restate its quarterly and annual financial statements due to a fraudulent...
-
Why is it important to understand the macro-environment when making decisions about an international retail venture?
-
Suppose you deposit $2,000 in currency into your checking account at a branch of Bank of America, which we will assume has no excess reserves at the time you make your deposit. Also assume that the...
-
Suppose you decide to withdraw $100 in cash from your checking account. Draw a T-account showing the effect of this transaction on your bank's balance sheet.
-
In a newspaper column, author Delia Ephron described a conversation with a friend who had a large balance on her credit card with an interest rate of 18 percent per year. The friend was worried about...
-
There are several possible heights at which the higher end of the bridge can be attached to the higher mountain. Fill in the table below to use 5 possible values for y, and calculate the resulting...
-
4. This problem examines expected utility maximization in the context of the mean-variance model. Suppose an investor's utility for a portfolio having expected return and standard deviation is given...
-
Consider the following: Stock X Y Beta Expected return 1.35 13% 0.85 11.5% The risk-free rate is 5% and the market risk premium is 6.3%. The expected return above is based on the forecast by five...
Study smarter with the SolutionInn App