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The Real Property Taxable Status of New York Limited Liability Companies There are a number of troubling issues concerning the taxable status of New York limited liability companies (“LLCs”) for purposes of Real Property Tax Law (“RPTL”) sections 420-a and 462 exemptions.  Holding title to real property in the form of an LLC is a…

TAX SAVINGS FOR CHARITIES Nonprofit organizations are facing extraordinarily challenging times as the Covid crisis continues. Tax savings for charities is important as nonprofits that are classified as 501(c)(3) organizations under the Internal Revenue Code (often referred to as “charities”) have the benefit of exemption from various federal and state taxes. Now is the time…

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