Enrique Liberman authors article on changes to sales tax regime in New York state for art sales
Enrique Liberman authored an article on the January 15, 2019 changes to the New York sales tax regime relating to sales of artworks made to New York buyers by art galleries and dealers without a Physical Presence in New York. Such changes resulted from the aftermath of the South Dakota v. Wayfair US Supreme Court decision on 2018.
Topics discussed included:
- Overview of regulatory framework as to who constitutes a sales tax vendor under New York law.
- Summarizing the revenue and sales figures triggering sale tax collection and payment for Galleries and Dealers outside of the State of New York.
- Recordkeeping requirements for galleries and dealers meeting the new sales tax vendor definitions.
Enrique Liberman chairs the firm’s Art Law + Art Funds practice and is a recognized authority on matters relating to art law and art investments. The firm also benefits from Enrique’s unparalleled expertise in the structuring and operation of “passion funds” and Enrique is one of the world’s foremost authorities on the formation and governance of art investment funds. Read Full article here
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