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Milbank LLP attorneys examine the implications of New York's pied-à-terre tax for common estate planning structures and situations, analyzing the basic mechanics of the surcharge and discussing key ambiguities in the statute. The article explores potential pitfalls that practitioners should consider when advising clients on property ownership and estate planning in New York.
In the article, titled, "New York's Pied-à-Terre Tax: Potential Pitfalls for Common Planning Structures and Situations," the authors analyze the basic mechanics of the surcharge and discuss key ambiguities in the statute and the Department of Finance's rules adopted on July 10, 2026.
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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
