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ANEK [815]
2 years ago
10

A new york buyer is purchasing a property for $120,000. what will the seller pay in transfer tax if the rate is $4 per $1,000 of

the sales price?
Business
1 answer:
Rudik [331]2 years ago
4 0

The seller will pay $444 in transfer tax. Multiply the transfer tax rate. 0037 ($0.37 per $100) by the value of the property ($120,000) will the seller pay in transfer tax if the rate is $4 per $1,000 of the sales price.

After the seller has been paid and all payments have been made, the remaining amount is said to be net to the seller. Calculating the net-to-sellers ratio is very simple. Simply subtract the seller's costs and liabilities from the selling price.

To calculate the prorated tax amount, multiply the annual tax amount by 105%. Then he divides that number by the number of days in a year. The sales price must be held responsible for the amount of unpaid property taxes for the number of days the property was occupied prior to the date of sale.

Learn more about sales prices at

brainly.com/question/1153322

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3 years ago
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Gekata [30.6K]

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Corporate formalities is a term that is used to refer to the operating rules and guidelines that a corporation or business has to or must follow so as to meet its operational requirements. This in turn allows it to maintain the corporate protections that it enjoys.

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8 0
2 years ago
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