The New York Net Worth Exemption Form Pursuant To GB 684(2) is a form used in New York State for individuals to protect their assets from the reach of creditors. This form is used to reduce the amount of net worth that creditors can collect from an individual’s assets, commonly referred to as a “Net Worth Exemption”. The form is administered by the New York State Department of Taxation and Finance. There are two types of New York Net Worth Exemption Form Pursuant To GB 684(2): the Single-Person Exemption Form and the Married Couple Exemption Form. Both forms must be filled out accurately in order for the exemption to be valid. On the form, individuals must provide information regarding their assets, liabilities, and income. The form also requires a signature from the applicant and a witness. Once the form is completed and submitted, the New York State Department of Taxation and Finance will review the application and determine if the exemption is valid.
New York Net Worth Exemption Form Pursuant To GBL 684(2)
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