Legal Opinion
South Suffolk Recreation Ventures, Inc. v. Tax Appeals Tribunal
Appellate Division of the Supreme Court of the State of New York
Decided February 29, 1996PublishedCited by 5 opinions
1Opinion of the Court
—Proceeding pursuant to CPLR 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.
In January 1988, petitioner contracted to sell certain real property to RCP Properties, Inc. for consideration totaling $2,275,000. Part of the consideration included a $1,000,000 purchase money bond and mortgage held by petitioner. The property was transferred to RCP in August 1989, and petitioner paid a gains tax of $134,481.66 on a taxable…
2Cases cited3 opinions
- Howard v. WymanNew York Court of Appeals · 1971
- Cheltoncort Co. v. Tax Appeals TribunalAppellate Division of the Supreme Court of the State of New York · 1992
- Wanat v. Tax Appeals TribunalAppellate Division of the Supreme Court of the State of New York · 1996
3Cited by5 opinions
- Fazkap Associates v. Commissioner of New York State Department of Taxation & FinanceAppellate Division of the Supreme Court of the State of New York · 1996
- Wanat v. Tax Appeals TribunalAppellate Division of the Supreme Court of the State of New York · 1996
- Rapoport v. KoenigAppellate Division of the Supreme Court of the State of New York · 1997
- Estate of Brockman v. Tax Appeals TribunalAppellate Division of the Supreme Court of the State of New York · 1997
- 93rd Street Associates v. Tax Appeals TribunalAppellate Division of the Supreme Court of the State of New York · 1999