There are two big developments in the works regarding the collection and payment of sales tax by title companies.
Sales tax audits of title agents are being conducted in both Zone 1 and Zone 2. Our aim is to provide Members with good information so they can operate in full compliance and be prepared for an audit when one is scheduled.
We are working to establish strong communication channels with the Department of Tax & Finance though our professional staff. This will give us a platform to help the Department understand our business and facilitate resolution of Member's concerns.
The Education Committee is preparing a credit-bearing Continuing Education course on Sales tax.
The Association is asking Members to submit your questions about sales tax. These inquiries will be collated and presented to the NYS Department of Tax & Finance. The Education Committee will also use these questions to inform a Continuing Education class on sales tax, currently being finalized.
Use the comments section link, located below this article, to pose your question.
This will help us determine the areas of greatest concern to Members.