Real estate transfer tax - START-UP NY Leases

Leases of real property located in tax-free NY areas to an approved business participating in the START-UP NY program are exempt from the New York State real estate transfer tax. To claim this exemption when recording a START-UP NY lease, file Form TP-584-SNY, Real Estate Transfer Tax Return for START-UP NY Leases, and attach a copy of Form STR-1, START-UP NY Sales Tax and Real Property Transfer Taxes Benefits Certificate.

This exemption also applies to any local real estate transfer tax or local real property transfer tax imposed by a county or municipality pursuant to the authority of the Tax Law.