Tax General Business Residential Real Estate

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How to Avoid Needlessly Exposing a Client's Assets to Creditors in an Estate Plan or Trust

Estate planners often recommend that their clients hold title in community property or in a trust in which the real property interests are held as community property. They do this primarily to give the client the benefit of...more

City of Chicago to Tax Assignments of Mortgages

Recently the City of Chicago’s Department of Finance issued Real Property Transfer Tax Ruling #4, which clarifies the intent of the City’s Real Property Transfer Tax. The ruling details the application of the exemptions to...more

Tax Planning for Chinese Investment in U.S. Real Estate

According to recent estimates, Chinese investors represented the largest group of foreign investors in U.S. real estate in the second quarter of 2015 with $1.9 billion in acquisitions. In the last 12 months, Chinese investors...more

IRS Limits Ability of REITs to Obtain Private Letter Rulings on Tax-Free Spin-Off Transactions

In the recently released Revenue Procedure 2015-43, the Internal Revenue Service (“IRS”) announced that it no longer will issue private letter rulings with respect to certain tax-free spin-offs where, immediately after the...more

Buyers of Mississippi Real Property Relieved of Liability For Nonresident Seller Tax Withholding

The responsibility for withholding, reporting, and paying tax on the gain realized on the sale of real property by a seller who is not a resident of the State of Mississippi is now back where it belongs: with the seller. ...more

Real Estate Gazette - Issue 21: Focus on Hospitality and Leisure

Welcome to Issue 21 of DLA Piper’s Real Estate Gazette. at the end of the northern hemisphere summer many people have just returned from time spent relaxing in idyllic surroundings. However, what about the massive business...more

Florida Tax Issues in Commercial Real Estate and Related Financing Transactions

Florida has long been known as a tax friendly state for retirees. The "Sunshine State" has no income tax on individuals and no estate taxes. The state has quite a different reputation for commercial real estate investors who...more

GST Reform: Implications for the Real Estate Sector

Goods and Services Tax ("GST") commenced in Australia on 1 July 2000. While there have been some amendments since its introduction, the tax has remained largely unchanged for the past 15 years. In recent weeks there...more

Indiana Tax Court Nullifies Retroactive Property Tax Assessments for Lack of Proper Notice

On May 12, 2015, the Indiana Tax Court ruled on the property tax appeals for two residential parcels owned by Property Development Company Four, LLC (the “Company”), which in 2003 bought two parcels in Grant County upon which...more

Unusual Like-Kind Exchanges

Like-kind exchanges are well-known events in the field of investment real estate. The tax law has spent about the last 30 years refining the deferred like-kind exchange, in which the taxpayer is given time to locate the...more

Tax Sale Redemption: Recovering Your Lost Collateral

It is now more important than ever for lenders to not allow real estate to be sold for delinquent taxes at a tax sale—whether it is real estate owned by the lender or mortgaged to the lender. New case law has complicated and...more

Changes in Real Estate legislation, Q2 2015 - Overview of the most important changes for the second quarter of 2015 in Russian...

Changes at the federal level - RF Federal Law ? 184-FZ “On Amendments to the RF Federal Law “On the State Real Estate Cadaster” and Article 6 of the RF Federal Law “On Special Economic Zones (SEZ) in the Russian...more

Section 1031 Exchanges: Innovative Strategies and Issues

This webinar addresses the requirements for 1031 Exchanges, the various types of 1031 Exchanges, and issues involving 1031 Exchanges in partnerships, limited liability companies and tenant-in-common situations. Please...more

Court Decisions Extend Chicago’s Transfer Tax Ordinance to Cover Mortgage Assignment

Earlier this month, in a case of first impression, the Circuit Court of Cook County, Illinois in the consolidated cases of City of Chicago v. KTCP 225, LLC, Case No. 13 L 050290, and City of Chicago v. Horizon Group XXI, LLC,...more

Complying with Regulation X §1024.17(k)(5) - Timely Disbursements from Escrow

As part of its 2014 Mortgage Servicing Rules, the Consumer Financial Protection Bureau (CFPB) issued §1024.17(k) of Regulation X, which is devoted to Escrow Accounts and the requirements for disbursements made from those...more

MTC Nearing Completion of Model Sourcing Regulation for Services and Intangibles

The Multistate Tax Commission’s (MTC) Annual Conference and Committee Meetings are being held on July 27-30, 2015, in Spokane, Washington. On Tuesday, July 28, 2015, at approximately 1:00 pm PDT (exact time subject to...more

Los Angeles Proposing Strict Regulations on Short-term Vacation Rentals, But to What Effect?

In recent years, the short-term online vacation rental market has flourished, and connecting travelers with short-term bedroom, apartment, or home rentals has become what many value as a billion dollar industry. The industry...more

Code Section 1031 Exchanges – Held for Productive Use in a Trade or Business or for Investment

Under Code Section 1031(a), the relinquished property must have been held by the taxpayer for productive use in a trade or business, or held for investment. Likewise, the replacement property, at the time of the exchange,...more

Tax Law

In This Chapter: Tax Law: Annual Survey of Wisconsin Law - - Case Law - Statutory Developments - Administrative Developments - Excerpt from Case Law: Individual and Fiduciary Income Tax...more

Santa Monica Takes Bold Steps to Enforce its Short-Term Rental Regulations

One of the chief issues facing local governments as they contend with regulation of short-term rental marketplaces is the trouble of enforcing whatever framework they develop. After passing tough regulations last week, the...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

LIHTC exit strategies: Right-sizing the loan

Note: This post is part of a continuing series on the Credit Report Blog on the subject of workouts and bankruptcies involving low-income housing tax credit (LIHTC) projects...more

Orrick's Financial Industry Week in Review

European Commission Unveils Tax Transparency Package - The European Commission has laid out its plans in a new Tax Transparency Package to clamp down on tax deals made between EU governments and multi-national...more

LIHTC exit strategies: Loan sale

Note: This post is part of a continuing series on the Credit Report Blog on the subject of workouts and bankruptcies involving low-income housing tax credit (LIHTC) projects....more

New Developments In The VAT Treatment Of Securitisation Servicing

HMRC are expected to consult on revisions to their published guidance to clarify the circumstances in which they will treat loan servicing in securitisation arrangements as exempt for VAT purposes....more

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