Form CVYT-2 "Acquired Real Estate Company Conveyance Tax Return" - Rhode Island

What Is Form CVYT-2?

This is a legal form that was released by the Rhode Island Department of Revenue - a government authority operating within Rhode Island. As of today, no separate filing guidelines for the form are provided by the issuing department.

Form Details:

  • Released on July 1, 2015;
  • The latest edition provided by the Rhode Island Department of Revenue;
  • Easy to use and ready to print;
  • Quick to customize;
  • Compatible with most PDF-viewing applications;

Download a printable version of Form CVYT-2 by clicking the link below or browse more documents and templates provided by the Rhode Island Department of Revenue.

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Download Form CVYT-2 "Acquired Real Estate Company Conveyance Tax Return" - Rhode Island

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State of Rhode Island and Providence Plantations
Form CVYT-2
Acquired Real Estate Company Conveyance Tax Return
Acquired real estate company
Federal employer identification number
Address
Date of acquisition
MM/DD/YYYY
Address 2
City, town or post office
State
ZIP code
E-mail address
Answer the following regarding your corporation, limited liability company, partnership or other legal entity:
Schedule A - Determination of a Real Estate Company
YES
NO
Is primarily engaged in the business of holding, selling or leasing real estate, where 90% or more of the owner-
1
ship of said real estate is held by 35 or fewer persons and which company either (i) derives 60% or more of its
annual gross receipts from the ownership or disposition of real estate or (ii) owns real estate the value of which
comprises 90% or more of the value of the entity’s entire tangible asset holdings exclusive of tangible assets
which are fairly transferable and actively traded on an established market; or
90% or more of the ownership interest in such entity is held by 35 or fewer persons and the entity owns as 90%
2
or more of the fair market value of its assets a direct or indirect interest in a real estate company.
If you answer "YES" to 1 or 2, you meet the definition of a real estate company under R.I. Gen. Laws § 44-25-1. Continue to
Schedule B to determine if you meet the definition of an acquired real estate company under R.I. Gen. Laws § 44-25-1.
YES
NO
Has the real estate company undergone a change in ownership interest where such change has not
1
affected the continuity of the operation of the company?
Has the real estate company undergone a change in ownership interest where such change has the
2
effect of granting, transferring, assigning or conveying or vesting, 50% or more of the total ownership
in the company within a period of three (3) years?
If you answer "YES" to 1 and 2, you meet the definition of an acquired real estate company and are subject to the
conveyance tax under R.I. Gen. Laws § 44-25-1.
Schedule C - Tax and Remittance Computation
Consideration paid for the acquisition of the real estate company. If $100 or less, enter zero on line 3........
1
1
Divide line 1 by $500.00. Round up to the next whole number...............................................................
2
2
Conveyance tax due. Multiply line 2 by $2.30........................................................................................
3
3
I certify that I meet the definitions of a Real Estate Company, as well as an Acquired Real Estate Company under R.I. Gen. Laws § 44-25.1
Under penalties of perjury, I declare that I have examined this return and accompanying schedules and statements, and to the best of my knowledge and
belief, it is true, accurate and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
Authorized officer signature
Print name
Date
Telephone number
Paid preparer signature
Print name
Date
Telephone number
Paid preparer address
City, town or post office
State
ZIP code
PTIN
May the Division of Taxation contact your preparer? YES
State of Rhode Island and Providence Plantations
Form CVYT-2
Acquired Real Estate Company Conveyance Tax Return
Acquired real estate company
Federal employer identification number
Address
Date of acquisition
MM/DD/YYYY
Address 2
City, town or post office
State
ZIP code
E-mail address
Answer the following regarding your corporation, limited liability company, partnership or other legal entity:
Schedule A - Determination of a Real Estate Company
YES
NO
Is primarily engaged in the business of holding, selling or leasing real estate, where 90% or more of the owner-
1
ship of said real estate is held by 35 or fewer persons and which company either (i) derives 60% or more of its
annual gross receipts from the ownership or disposition of real estate or (ii) owns real estate the value of which
comprises 90% or more of the value of the entity’s entire tangible asset holdings exclusive of tangible assets
which are fairly transferable and actively traded on an established market; or
90% or more of the ownership interest in such entity is held by 35 or fewer persons and the entity owns as 90%
2
or more of the fair market value of its assets a direct or indirect interest in a real estate company.
If you answer "YES" to 1 or 2, you meet the definition of a real estate company under R.I. Gen. Laws § 44-25-1. Continue to
Schedule B to determine if you meet the definition of an acquired real estate company under R.I. Gen. Laws § 44-25-1.
YES
NO
Has the real estate company undergone a change in ownership interest where such change has not
1
affected the continuity of the operation of the company?
Has the real estate company undergone a change in ownership interest where such change has the
2
effect of granting, transferring, assigning or conveying or vesting, 50% or more of the total ownership
in the company within a period of three (3) years?
If you answer "YES" to 1 and 2, you meet the definition of an acquired real estate company and are subject to the
conveyance tax under R.I. Gen. Laws § 44-25-1.
Schedule C - Tax and Remittance Computation
Consideration paid for the acquisition of the real estate company. If $100 or less, enter zero on line 3........
1
1
Divide line 1 by $500.00. Round up to the next whole number...............................................................
2
2
Conveyance tax due. Multiply line 2 by $2.30........................................................................................
3
3
I certify that I meet the definitions of a Real Estate Company, as well as an Acquired Real Estate Company under R.I. Gen. Laws § 44-25.1
Under penalties of perjury, I declare that I have examined this return and accompanying schedules and statements, and to the best of my knowledge and
belief, it is true, accurate and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
Authorized officer signature
Print name
Date
Telephone number
Paid preparer signature
Print name
Date
Telephone number
Paid preparer address
City, town or post office
State
ZIP code
PTIN
May the Division of Taxation contact your preparer? YES
State of Rhode Island and Providence Plantations
Form CVYT-2
Acquired Real Estate Company Conveyance Tax Return
Acquired real estate company
Federal employer identification number
Schedule D - Itemized Real Estate Assets
Include all of the assets held by the real estate company which is becoming the acquired real estate company.
In order to get the Allocation Percentage (Column E) for each type of real estate, divide the amount from Column D - Total Assessed
Value by the Total Assessed Value of all of the real estate owned by the acquired real estate company from line 2 below.
Use Columns D and E only if the acquired
real estate company owns property located
in more than one municipality
1
Column A
Column B
Column C
Column D
Column E
City/Town Where
% of Company's
Tax Assessor's Description
Total Assessed Value including
Type of Real Estate
(e.g. Plat / Lot #)
any liens and encumbrances
Real Estate is Located
Real Estate Sold
Total assessed value of real estate held by the acquired real estate company.
2
Add all amounts listed in Column D..................................................................................................
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