Form CVYT-1 Real Estate Conveyance Tax Return - Rhode Island

What Is Form CVYT-1?

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

FAQ

Q: What is form CVYT-1?
A: Form CVYT-1 is a Real Estate Conveyance Tax Return specifically used in Rhode Island.

Q: What is the purpose of the CVYT-1 form?
A: The purpose of the CVYT-1 form is to report and pay the real estate conveyance tax in Rhode Island.

Q: Who needs to file form CVYT-1?
A: Any person or entity involved in a real estate transfer in Rhode Island is required to file the CVYT-1 form.

Q: What information is required on form CVYT-1?
A: The form requires information about the buyer, seller, property details, and the calculated tax amount.

Q: When is form CVYT-1 due?
A: Form CVYT-1 is due within 10 days after the date of the transfer of any real estate in Rhode Island.

Q: What happens if I fail to file form CVYT-1?
A: Failure to file form CVYT-1 or pay the required taxes may result in penalties and interest.

Q: Is there a fee to file form CVYT-1?
A: Yes, there is a fee associated with filing form CVYT-1, which is based on the value of the real estate transfer.

Q: Are there any exemptions to the real estate conveyance tax in Rhode Island?
A: Yes, there are certain exemptions to the real estate conveyance tax in Rhode Island, such as transfers between spouses or transfers to government entities.