Sales tax on title abstracts? N.Y. says "yes" will N.J. follow?

The New York State Department of Taxation and Finance has announced that it has changed its policy on title abstracts – they're now taxable when done by a title agent.

You can read the determination on page 4 of the memorandum TSB-M-10(7)S, Sales Tax, July 19, 2010, Sales and Compensating Use Tax Treatment of Certain Information Services, issued by the Office of Tax Policy Analysis Taxpayer Guidance Division.

My take? Well, if the taxation folks in New York think it will work, then the taxation folks in New Jersey will most likely give it a shot.

If you have questions about what you see here,

contact Stephen M. Flatow

Stephen's Title Agency, LLC

StephensTitle@comcast.net

973-556-1628 Fax