The anonymity of buyers purchasing NYC property in LLC’s had been threatened by a bill that would have inadvertently revealed the names of secretive condo buyers. This month, New York State tax officials have clarified that anyone who wishes to keep their transactions private will be able to continue to do so as long as they are buying in condominium buildings with more than 5 apartments. This law will force buyers in residential buildings with 1 to 4 dwellings (including townhouses), to reveal the identities behind their LLC’s.
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