New York State Assembly Reintroduces Legislation Imposing Recording Tax on Mezzanine Debt and Certain Preferred Equity Investments
By EsqSocial Corporation 17/02/21
On January 22, 2021, several New York State Assembly Members reintroduced legislation (Bill No. A03139) that seeks to amend New York’s Real Property Law and Tax Law, New York’s Tax Law and New York’s Uniform Commercial Code to (i) require the recordation of mezzanine debt and certain preferred equity investments (specifically by means of the filing of financing statements) and (ii) impose recording tax on such debt and investments. The proposed legislation raises a number of practical questions...
By: Pillsbury Winthrop Shaw Pittman LLP