New York state withholding stacks at 10.9%. We handle the federal piece end-to-end for sellers, buyers, and New York closing agents, with same-day intake response on every deal.
New York stacks state withholding on top of federal FIRPTA. The default rate is 10.9% of the recognized gain, filed on Form IT-2663 (+ voucher IT-2663-V) at or shortly after closing. New York's reduction path is TP-584 Schedule D (or TP-584-NYC for NYC) -- exemption claim — the state-level analogue to a federal Form 8288-B, filed before closing to reduce withholding based on actual gain rather than the headline rate.
On a $1,000,000 New York foreign-seller closing, the default closing-table withholding is $150,000 federal + $109,000 state = $259,000. Both halves can be reduced or eliminated via the right certificates filed before the deed records.
FIRPTA is federal — every Form 8288, 8288-A, and 8288-B routes to the IRS Ogden Service Center regardless of property location. We coordinate with New York title companies, closing attorneys, and foreign sellers across:
Yes. New York requires 10.9% withholding on nonresident-seller real-property sales, filed on Form IT-2663 (+ voucher IT-2663-V), on top of the federal FIRPTA 15%. The state-level reduction is TP-584 Schedule D (or TP-584-NYC for NYC) -- exemption claim — analogous to a federal Form 8288-B.
Yes. The closing-table Form IT-2663 (+ voucher IT-2663-V) withholding is a deposit against the seller's final New York liability on the gain — the seller files a nonresident return in New York to reconcile and recover any over-withholding (or owe additional tax if the closing-table amount was too low).
Yes. FIRPTA is a federal tax regime; the IRS Ogden Service Center processes every Form 8288, 8288-A, and 8288-B regardless of the property's state. We coordinate with New York title companies and closing attorneys nationwide via email, secure file upload, and our intake at firptaincometaxwithholding.com/#intake. Same-day response on every intake.
Same-day response. No fee to your title company. No surprises at closing.