Albe Realty Co. v. Tax Appeals Tribunal

Proceeding pursuant to *839CPLR article 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 article 31-B.

Tax Law § 1441 imposes a tax on gains derived from the transfer of real property within the State, which includes transfers pursuant to a cooperative plan (see, Tax Law § 1440 [7]). Tax Law § 1443 provides a total or partial exemption if the consideration is less than $1 million. Petitioner contends that its transfers pursuant to a cooperative…