New York compliance for real estate agents
- Sales tax: 4.00% state rate. Applies to services. Many services taxable (info, parking, repair). Combined 8-8.875%.
- Late fees: Up to 2% per month under NY Gen. Oblig. Law §5-501. Civil usury cap 16%/yr (1.33%/mo); construction Prompt Pay allows 1%/mo.
- Written contract: Required over $500.
Avg invoice
$8,500
Net terms
0 days
Deposit
0%
State
NY
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