Iser v. New York State Commissioner of Taxation & Finance

Proceeding pursuant to CPLR 78 (initiated in this Court pursuant to Tax Law § 2016) to review a determination of respondent Tax Appeals Tribunal which sustained a real property transfer gains tax assessment imposed under Tax Law former article 31-B.

The facts underlying this CPLR article 78 proceeding involving Tax Law former article 31-B1 are undisputed. In 1985 Timberline, a New York corporation in which petitioner had a 40% interest and Stephen Iser (hereinafter Iser) had a 60% interest, purchased two parcels of real property in the Town of Clarkstown, Rockland County, on which condominiums…