Realty Transfer Taxes

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PA Tax Law News - December 2014

In This Issue: - Recent PA Sales Tax Guidance Concerning Natural Gas and Other Mining Activities - Focus on Pennsylvania Corporate Taxes - Application and Sale of Restricted Tax Credits -...more

The Secret Is Out: The Documentary Transfer Tax Will Now Be Part of Public Record

The Documentary Transfer Tax Act allows each county and city to impose a tax on each deed, instrument, or writing by which any real estate is sold within the county at the time the document is recorded. Assembly Bill No....more

Pennsylvania Department of Revenue Clarifies Changes to New Realty Transfer Tax Law

The Pennsylvania Department of Revenue recently released an Information Notice explaining the implications of Act 52 of 2013, which enacted some significant changes to the Pennsylvania realty transfer tax, effective January...more

Documentary Transfer Tax May Be Imposed When A Change of Ownership Occurs For Property Tax Purposes Due To A Transfer Of Ownership...

The Revenue and Taxation Code permits the imposition of a documentary transfer tax when there is "realty sold." The Code also requires entities to report a "change in ownership" of legal entities. In 926 North Ardmore...more

Pa. Department of Revenue Delivers Good News and Bad News Regarding New Realty Transfer Tax Provisions

The Pennsylvania Department of Revenue (DOR) recently issued Information Notice - Realty Transfer Tax 2014-01 (the Information Notice) delivering some good news and bad news about how the new law that became effective January...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

RETT: Decrees on anti-RETT-blocker legislation and Federal Tax Court ruling

The German Tax Authorities’ interpretation of the recently introduced Sec. 1 para 3a RETTA goes beyond just preventing RETT-blockers. Within the framework of the Act on the implementation of the Directive on...more

RETT: Reentry of partner in property owning partnership

Transfer of interests leads to loss of qualification as a former partner within the meaning of Sec. 1 para 2a RETTA. The Federal Financial Court of Germany recently decided that real estate transfer tax (RETT) is due...more

Senate Finance Committee Chairman Proposes Repeal of Like-Kind Exchange Deferral and Other Changes Affecting Real Estate

On November 21, 2013, Senate Finance Committee Chairman Max Baucus released the third package in a series of "Staff Discussion Drafts" containing proposals to reform the tax code. This third set of proposals focuses on...more

Real Estate Transfer Tax Rates - February 2013

This alert is intended to give an overview of the current real estate transfer tax rates and planned increases thereof in the various federal states of Germany. The information has been assembled with great care. However, no...more

Opportunities for Real Estate Transfer Tax Refunds in Pennsylvania

Taxpayers that paid Pennsylvania or Philadelphia real estate transfer tax on certain transactions involving real property located in Philadelphia during the period July 1, 2012 through January 5, 2012 may be entitled to...more

Bill To Prevent Cottage Uncapping Signed Into Law

On December 27, 2012, HR-4753 was signed into law by Michigan Gov. Rick Snyder....more

Fannie Mae And Freddie Mac Cite Possible “Negative Implications” To Side With Big Banks

In a lawsuit alleging that several banks violated Michigan's County Real Estate Transfer Tax Act by improperly claiming exemptions involving the sale of foreclosed properties, Judge Bell allowed Fannie Mae, Freddie Mac and...more

Department Issues Timely Guidance On Oil And Natural Gas Interests

On October 10, 2012, the Department of Revenue issued Informational Notice 2012-04, dealing with the Realty Transfer and Personal Income Tax treatment associated with the division and transfer of interests in oil and natural...more

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