Transfer income tax is the governmental payment getting documenting a significant difference from inside the ownership. Not all the states wanted a move income tax, and people says who do demand brand new taxation all the play with a good a little additional formula so you can calculate they.

Such, Washington costs a condo $dos percentage, if you find yourself areas of Ny often see a 2.65% taxation on the family price. Often local taxation seal of approval go with the newest transfer tax, as well.

This import taxation dining table will help given that a baseline to have calculating what you can owe, however, speak to your agent to get more pinpointed import income tax computations. [Read more…]