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Dear Clients and Friends,
It's hard to believe another year is coming to an end. We made it through with no hurricanes or other weather related disasters! Hopefully all those who were affected by Hurricane Sandy have fully recovered and are moving on with their lives. We look forward to 2014 being a prosperous one for all.
We wish you and your families a wonderful holiday season, and a happy and healthy new year.
Very truly yours,
Suzanne LoBiondo and Christopher Cheeseman
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New legislation requires all homeowners receiving a Basic STAR exemption to register with the New York State Tax Department by December 31 in order to receive the exemption in 2014 and subsequent years.
- Homeowners will not have to register in order to receive their 2013 STAR exemptions.
- Homeowners will not have to re-register every year. Based on the information provided in the registration process, the Tax Department will monitor homeowners' eligibility in future years.
New homeowners applying for the Basic STAR exemption do not need to register this year.
Senior citizens receiving the Enhanced STAR exemption are not affected by the new registration requirement.
How to register:
You can register for the STAR exemption online. You'll need to:
- provide a STAR code (codes were mailed to all Basic STAR recipients; or you can use the STAR code lookup online)
- provide the names and social security numbers for all owners of the property and spouses
- confirm that the property is the primary residence of one of its owners (married couples with multiple residences may only claim one STAR exemption)
- confirm that the combined income of the owners and their spouses who reside at the property does not exceed $500,000
- confirm that no resident owner received a residency-based tax benefit from another state
Register online at: http://www.tax.ny.gov/pit/property/star13/default.htm
- OR -
You can register by calling (518) 457-2036
- Monday - Friday, 8:30 am - 8:00 pm
- Saturday, 9:00 am - 1:00 pm
Detailed information can be found on the NYS website referenced above. As always, if you have any questions, contact your C&L tax professional.
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C&L Tax and Accounting Services LLP is a boutique CPA firm that specializes in meeting the tax and accounting needs of individuals and small businesses. Our experienced tax and accounting professionals offer clients insightful and strategic tax planning and compliance services that maximize savings year after year.