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Is there a separate NYC capital gains tax on the sale of real estate in NYC for a NY non-resident? If so, how do we label the sale as a NYC sale?

vgrivas-bowen
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itonewbie
Level 15

NYC's authority to impose personal income tax is granted by NYS and only on tax residents of the city, in accordance with Tax Law §1301.  In other words, if your client is a NR of NYC, no NYC tax should be payable on the capital gain.

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itonewbie
Level 15

NYC's authority to impose personal income tax is granted by NYS and only on tax residents of the city, in accordance with Tax Law §1301.  In other words, if your client is a NR of NYC, no NYC tax should be payable on the capital gain.

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Still an AllStar

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