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SALE OF S CORP STOCK ON INSTALLMENT BASIS AND NYS TAX

  • 1.  SALE OF S CORP STOCK ON INSTALLMENT BASIS AND NYS TAX

    Bronze Most Valuable Member
    Posted 20 days ago
    If a  NYS shareholder of an S corporation sells his or her  shares to his or her partner on an installment basis and then moves out of NYS are the payments received after they leave NY taxable to NYS. This S corporation does not own real estate.

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    Gabriel Bentovim
    HOFFMAN & BENTOVIM, CPAs PC
    Commack NY
    631-499-1500
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