In accordance with Tax Bulletin ST-5 (TB-ST-5), specific title fees within the state of New York are subject to a sales tax. These fees include:
- Title Search Fee
- Abstract Fees
- Tax Searches
- Title Certificates
- Lien Searches
- Bankruptcy/Patriot Searches
- Patriot, Bankruptcy, etc. Searches
- Patriot Search
- Municipal Searches
- Departmental Searches
- Update Fee
The sales tax rate percentages differ by county and city, but can be anywhere from 4% to 9%.
By default, LodeStar will automatically quote and itemize out the sales tax amount. It will be labeled as "Sales Tax", as seen below:
*If the title agent doesn't quote one of the fee names above, there will be NO sales tax quoted.
For more information, you can visit: https://www.tax.ny.gov/pubs_and_bulls/tg_bulletins/st/abstracts_of_title.htm