Commercial Real Estate Tax

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Grunderwerbsteuer: Das Ende von 94/6-Strukturen bei Personengesellschaften?

Bundesfinanzhof verschärft den Rahmen für steueroptimierte Akquisitionsstrukturen durch mittelbare Zurechnung nach wirtschaftlichen Maßstäben . Thema der aktuellen Entscheidung – In einer am 10. September 2014...more

German Real Estate Transfer Tax: The end of so-called 94/6 Partnership Structures?

German Federal Fiscal Court severely tightens framework for acquisition structures by using beneficial ownership as the standard for the attribution of indirect participations. Key Subject of the Decision - With a...more

How to Land Projects in California

Until recently, California’s state-level economic development cupboard was looking a little bare — its 400 redevelopment agencies were dissolved in February 2012, property tax increment financing has been discontinued and...more

New Amendment To The France-Luxembourg Tax Treaty: Capital Gains On Sale Of Real Estate Entities Will Be Taxable In The State...

Based on the press release issued by the Luxembourg Ministry of Finance (MoF), the amendment allocates the right to tax capital gains realised upon the sale of stock, shares or other rights in companies, trusts or any other...more

Investment in French real estate: France-Luxembourg double tax treaty changes

On 5 September 2014, the Governments of France and Luxembourg signed an amendment to the France-Luxembourg treaty dated 1 April 1958 (the “Treaty”), which will have an impact in the future for certain investments in French...more

It Wasn’t Wirth It: Nonresident Limited Partners Liable for Personal Income Tax on Discharge of Nonrecourse Debt

In June 17, 2014, in Wirth v. Commonwealth, 82-85 MAP 2012, the Pennsylvania Supreme Court (the “Court”) affirmed the Commonwealth Court’s holding that nonresident limited partners were liable for Pennsylvania Personal Income...more

Avoiding and Defending Florida License Tax Audits

Florida hotels and restaurants are facing license tax audits, assessments and penalties in increasing numbers. A "license" is statutorily defined as the granting of a privilege to use or occupy a building or real property....more

Cook County Property Tax Incentives Continue to Expand

Cook County continues to increase the number of commercial and industrial properties eligible for reduced property tax assessments. Recently, the County amended the Real Property Assessment Classification Ordinance to add the...more

Texas Supreme Court Rejects State’s Use of Unclaimed Property Law to Usurp Private Right to Contract

In a 5-to-4 decision, the Texas Supreme Court rebuffed the Texas attorney general’s attempt to undo a cy pres award using the state’s Unclaimed Property Act. The cy pres award was a result of a settlement between defendant...more

Virginia Tax Department Changes Conservation Easement Tax Credit Procedures

The Virginia Department of Taxation (“Tax”) is modifying its procedures for issuing land preservation tax credits and is trying to improve its customer service. At a meeting hosted by Molly Ward, Virginia Secretary of...more

Cook County Assessed Values Continue to Decline

For the sixth year in a row we have obtained and analyzed assessment abstract data from the Cook County Assessor’s Office. In each tax year since 2008 the County’s total assessed value has declined. The data from 2013, the...more

Legal Update: New Transfer Tax Disclosure Requirement

After January 1, 2015, documentary transfer tax will no longer be a private affair. It is common practice in commercial real estate purchase and sale transactions to provide the amount of documentary transfer tax on the...more

Racquet Club Argues For Lower Land Assessments That “Felt Right,” Loses Indiana Property Tax Appeals In Straight Sets

On August 21, 2014, the Indiana Tax Court in Indianapolis Racquet Club, Inc. v. Marion County Assessor, Cause No. 49T10-1201-TA-1, affirmed the 2002 assessment of a tennis club situated on three contiguous parcels and...more

Vorsteueraufteilung bei gemischt genutzten Gebäuden

BFH: Aufteilung der Vorsteuer bei gemischt umsatzsteuerpflichtig und umsatzsteuerfrei vermieteten Gebäuden richtet sich im Regelfall nach dem Flächenschlüssel. Im Grundsatz bestätigte der V. Senat des Bundesfinanzhofs...more

How Windstream Ruling Will Affect Foreign Taxpayers

In general, a REIT is a special purpose entity for U.S. federal income tax purposes that requires at least 75 percent of the value of the entity’s gross assets to consist of real estate assets, cash, cash items, and...more

Indiana Property Tax Rulings: Charitable Purpose Exemption For Rented Home And Duplex; Taxpayers Prevail With USPAP Appraisal,...

The following summaries of final determinations by the Indiana Board of Tax Review from the first half of 2014 were prepared by Noeli E. Serna, a 2014 summer associate at Faegre Baker Daniels who will be entering her second...more

IRS Ruling Creates Opportunities for Tax Savings by Companies With Substantial Real Estate Assets

On July 29, Windstream announced that it plans to spin off certain telecommunications network assets into an independent, publicly traded real estate investment trust (REIT). Windstream made the announcement after it obtained...more

Recent Amendment Implements Important Changes to the Georgia Brownfield Program

Effective on July 1, House Bill 957 (2014) (the “Amendment”) amended the Georgia Brownfield Act, O.C.G.A. § 12-8-200 et seq. (the Act). The Amendment broadens applicability of the Act, expands the pool of eligible parties...more

Vacant Historic Building Qualified For Indiana Property Tax Exemption

In Historic Landmarks Foundation of Indiana Inc. v. Vigo County Assessor, Pet. No. 84-002-11-2-8-02178 (June 10, 2014), a nonprofit Corporation claimed a 100% exemption on a property that was vacant on the March 1, 2011,...more

Polsinelli Podcasts - The Explosion of Tax Credits in 2014 [Video]

Recently, The Wall Street Journal reported on how states are offering businesses tax credits in an effort to spur economic growth and create jobs. That's due to the fact that federal tax credits expired at the end of last...more

Are REITs a Viable Strategy for Communications Companies?

Windstream Holdings, Inc. recently announced plans to spin off its copper, fiber and other fixed real estate assets into an independent publicly traded real estate investment trust (REIT). Windstream received a private letter...more

Get to Know a NMTC Housing Deal

Welcome back to the latest installment of “Get to Know a NMTC Housing Deal,” where we find ourselves in Baltimore, Maryland featuring the efforts of a local and national cast of participants to rehabilitate nearly 90 acres in...more

Spotlight on Tennessee: 2014 Tax and Related Legislation

During the 108th General Assembly 2014 Session, the Tennessee Legislature considered several tax and related initiatives before adjourning in late April. Although the number of proposed tax and related initiatives this...more

Tax credit increases what’s available for historic renovation

In May, Colorado Gov. John Hickenlooper signed into law the Colorado Job Creation and Main Street Revitalization Act (also known as House Bill 14-1311). By substantially increasing the amount of funds available for the...more

Proposed House Bill would Create Appeals Process for Qualified Census Tract and Difficult Development Areas

On July 24, 2014, Rep. Pete Gallego (D-Texas) introduced legislation in the House of Representatives that would amend Section 42 of the Internal Revenue Code to provide for an appeals process for HUD Qualified Census Tract...more

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