Old Version of Form May Be Used Until February 28, 2020

The New York State Department of Taxation and Finance (“DOTF”) has recently updated form TP-584 to accommodate the recent amendment to Section 1409(a) of the New York Tax Law. The amendment to the Tax Law requires the real property transfer tax return to include the membership of any and all LLC’s that are a party to the transfer of a one to four family dwelling unit.

The new version of the TP-584 now includes the party type “Multi-member LLC” and the property type “Four-family dwelling,” and requires an addendum listing the LLC members if one of the parties is a multi-member LLC and the property is a one to three family dwelling or a four-family dwelling. The newly revised TP-584 has been integrated into the Westchester County Clerk’s PREP System and is required for any transactions created in PREP since the implementation of the change on January 3, 2020.

As this change to the system has been newly implemented, and the tax forms for a property transfer are often prepared in advance of the closing, documents submitted on the old version of the form will be accepted by this office through February 28, 2020. Any submissions using the old form, however, must still comply with the new requirements for multi-member LLCs by including the membership of the LLC(s) on an addendum as the last page of the TP-584.

Additional information and guidance can be found in the New York State Department of Taxation and Finance's Technical Memorandum, TSB-M-19(2)R.