Turning finally to the generation-skipping transfer tax, they consider terminology, generation-skipping transfers, computation of the generation-skipping transfer tax, and collateral issues.
This article will look to explore the current standing of the real estate transfer tax ("RETT") in New York and its potential negative effects on unsuspecting taxpayers.
Under HB 1656, a transfer of real property to a corporation or LLC will no longer be subject to the real estate transfer tax as long as it meets each of the four statutory tests.
Although working with these clients can become quite complicated, many of the most crucial issues in the transfer tax arena (i.e., gift, estate, and generation-skipping transfer (GST) taxes) are basic issues that are often overlooked.
In some states, including New York and New Jersey, real estate transfer tax is imposed on transfers of controlling interests in any legal entity that owns real estate in the jurisdiction.
For most of two decades, real estate transfer taxes - on the sale or transfer of houses, land and other properties - have been banned by state law in Oregon, except in Washington County, where a small transfer tax was grandfathered in.
of South Carolina) and Danforth (law, Washington and Lee U.) provide teaching materials for upper-level JD students in courses on the US transfer tax system, as it exists following enactment of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010.
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