Residential Real Estate Elections & Politics Tax

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Bill to Tax Vacation Home Rentals Is Alive but Not Quite Kicking

Attention, Massachusetts vacation home owners who earn money renting your properties! An Act Providing for Local Aid Enhancement is showing signs of kinetic energy....more

UK Budget 2016: Real Estate

Yesterday George Osborne delivered the 2016 Budget. There were some significant announcements for the real estate industry....more

UK Budget 2016 – Overview

The Chancellor has presented a packed March Budget bursting at its seams with measures impacting businesses and individuals alike... ..The first reference to tax in his statement was to "tax avoidance" and that tells...more

PATH Act Changes to FIRPTA

The Protecting Americans from Tax Hikes Act of 2015 (the “PATH Act,” Division Q of the Consolidated Appropriations Act, 2016, P.L. 114-113, enacted December 18, 2015) made some important changes to the U.S. federal income tax...more

West Coast Real Estate Update: Jan. 2016 #2

California Senate Proposes $2 Billion on Housing for Homeless - California state senators put forth a proposal on Jan. 4, 2016, to spend $2 billion to build or rehabilitate permanent housing for homeless people,...more

PATH Act Presents Opportunities for Tax-Efficient Non-U.S. Investment in U.S. Real Estate

On December 18, 2015, President Obama signed into law the Protecting Americans from Tax Hikes Act of 2015 (the “PATH Act”). Among its numerous revisions to federal tax law, the PATH Act significantly amended various...more

The PATH Act

On December 18, 2015, President Obama signed into law the Protecting Americans from Tax Hikes Act of 2015 (the PATH Act). - extends or makes permanent a number of temporary tax provisions that had expired or were set to...more

FIRPTA Withholding Rate Bumped Up To 15%

The Protecting Americans from Tax Hikes Act of 2015 was recently signed into law. Section 324 of the Act modifies Code Section 1445 to increase the required withholding amount on dispositions by nonresident aliens and foreign...more

PATH Act Brings Important Tax Changes for REITs

Last Friday, President Obama signed into law the Protecting Americans from Tax Hikes Act of 2015 ("PATH Act"), a permanent extenders package. Several provisions of the PATH Act are of particular importance to REITs. The...more

Senate Passes Extenders Legislation – Moves to President for Signature

Last week the Senate voted 65-33 to pass the Extenders bill (H.R. 2029) and it moves to the President where it is expected to be signed.  As discussed in more detail in this blog, the legislation makes permanent or creates an...more

President Obama Signs Protecting Americans from Tax Hikes Act of 2015

On December 18, 2015, President Obama signed the Protecting Americans from Tax Hikes Act of 2015 or PATH Act. Among the provisions in the PATH Act is an increase from 10% to 15% for the Foreign Investment in Property Tax Act...more

Kyiv Tax Alert (Ukrainian)

On 11 December 2015 the representatives of the governments of Ukraine and Cyprus have signed the Protocol on amending the Convention between the Government of Ukraine and the Government of Cyprus on the Avoidance of Double...more

Alabama Tax Developments – 2015 Year in Review

This SALT Alert summarizes many of the major legislative, judicial, and administrative developments affecting Alabama business taxpayers with respect to income, transactional, and property taxes. The Spring 2015 legislative...more

North Carolina Legislative Report

The General Assembly convened for the 2015 legislative session on January 14. Lawmakers returned to Raleigh on January 28 to begin the session in earnest. The MVA Public Affairs Legislative Report on North Carolina will be...more

Womble Carlyle Legislative Update - August 7, 2015

Angel and Laura worried all week about what we could tell you about in our weekly update, but then yesterday happened. Lo and behold this week has written itself. Silly us! New Senate Budget Strategy: truce, sort...more

The Assessment Of Common Area Land: Indiana Tax Court Rejects Taxpayers’ Appeals, General Assembly Creates A New Exemption

Indiana allows taxpayers to correct certain property tax assessment mistakes using a Form 133 Petition for Correction of an Error. In Muir Woods, Inc. v. Marion County Assessor (June 18, 2015), the Indiana Tax Court held...more

Proposition 218 Guide for Special Districts

In this Guide: - Taxes (Article XIII C) - Assessments, Fees and Charges (Article XIII D) - Assessments (Article XIII D, Sections 4 And 5) - Property-Related Fees and Charges (Article XIII D,...more

The House Joins the Senate Finance Committee in Proposing FIRPTA Reform

FIRPTA real estate tax reform continues its momentum with the recent release of bill text for H.R. 2128, the latest House bill introduced by Kevin Brady (R-Texas) and J Crowley (D-NY). In connection with the filing of the...more

Bill introduced in Senate to create permanent LIHTC rate floors

On May 5, 2015, Senators Maria Cantwell (D-WA) and Pat Roberts (R-KS) introduced the “Improving the Low-Income Housing Tax Credit Rate Act” (S. 1193), which would create a permanent 9% minimum low-income housing tax credit...more

Taxing Times May Be Ahead for Online Vacation Rental Sites

In recent years, online vacation rental sites have made great inroads into the hospitality industry. Given their infancy and business model, however, they have gone largely unregulated, particularly when it comes to taxes....more

Minnesota Weekly Legislative Update: 04/17/2015

This week, as the Minnesota Legislature worked on finance bills, Governor Mark Dayton took the opportunity to comment on the House and Senate budget proposals. He criticized both plans for being too low in most regards....more

News from Second and State

Tax day has come and gone, and while Will Rogers once said that “it’s a good thing we don’t get as much government as we pay for,” Pennsylvanians got their fair share this week....more

News from Second and State

Budget, budget, budget. On Tuesday, Gov. Tom Wolf delivered his inaugural budget address to the largely Republican General Assembly; Monday had been filled with speculation and Wednesday largely consumed with reaction. You...more

Best in Law: Tug-of-War Over Changing Prop. 13 Remains Intense

A “split roll” might sound like something you would find in a bakery. But in fact, it is a real property tax concept that has been the subject of a tug-of-war since Proposition 13 was overwhelmingly passed by California...more

Obama Administration’s FY 2016 budget would modify LIHTCs, permanently extend NMTC and energy tax credits

As in prior years, the Obama administration’s FY 2016 budget includes a number of impactful, and generally positive, tax credit proposals. With respect to the Low-Income Housing Tax Credit (LIHTC), the budget retains many of...more

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