New York § 8 - 8Exemption from taxes granted to REMICs
Full text of New York New York Consolidated Laws § 8 — 8Exemption from taxes granted to REMICs, with citation guidance and answers to common questions.
§ 8. 8Exemption from taxes granted to REMICs
§ 8. Exemption from taxes granted to REMICs. An entity that is treated for federal income tax purposes as a real estate mortgage investment conduit, hereinafter referred to as a REMIC, as such term is defined in section 860D of the internal revenue code, shall be exempt from all taxation imposed or authorized under this chapter, upon its capital stock, franchises or income. A REMIC shall not be treated as a corporation, partnership or trust for purposes of this chapter. The assets of a REMIC shall not be included in the calculation of any franchise tax liability under this chapter. This provision does not exempt the holders of regular or residual interests, as defined in section 860G of the internal revenue code, in a REMIC from tax on or measured by such regular or residual interests, or on income from such interests.
Source: official New York text · Last verified 2026-08-27
Frequently Asked Questions About New York § 8
What does New York Consolidated Laws § 8 cover?
Section 8 ("8Exemption from taxes granted to REMICs") is part of the New York Consolidated Laws, the codified statutory law of New York. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New York § 8?
A common citation format is "New York Consolidated Laws § 8" (New York). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New York law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New York official source linked on this page or consult a licensed New York attorney.
How does New York § 8 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New York can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New York.