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General Business Tax Residential Real Estate

Read need-to-know updates, commentary, and analysis on General Business issues written by leading professionals.

Avoiding Development Disasters: Land Inventory and 1031 Exchanges

The ability to defer taxes through a 1031 Exchange can make or break a real estate transaction. But federal tax law does not treat all real estate owners equally. Under IRC Section 1031(a)(2), real property held “primarily...more

Ballot Initiative Seeks to Eliminate Prop 13 for Commercial and Industrial Real Estate

Initiative 17-0055 would limit Proposition 13 protection to residential property. New initiative seeks to eliminate Proposition 13 protection for commercial and industrial property by requiring fair market value...more

MoFo's Quick Guide to: REIT IPOs - February 2018

Real estate investment trusts (“REITs”) are endlessly inventive. They were first developed in the 1960s as a means for ordinary retail investors to hold interests in real estate. The REIT market has waxed and waned over the...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Nordstrom’s doing what it can to fight the seemingly inevitable decline of many retailers in the face of online competition. The family-run company has been revamping stores, amassing e-commerce companies, and launching new...more

Energy-Efficient Homes Credit is Extended for Homes Sold Before December 31, 2017

by Davis Brown Law Firm on

The Bipartisan Budget Bill of 2018, which President Trump signed into law on February 9, 2018, has extended the Energy-Efficient Homes Credit for homes sold before December 31, 2017. The extension allows builders a $2,000...more

Dueling Rent Taxes Come Up before San Francisco Voters in June

San Francisco electorate will vote on a new 1.7% or 3.5% tax on commercial rentals in June 2018. It is estimated that about $65 million annually would be collected from the commercial real estate industry under the Housing...more

Tax Reform: The Impact On Real Estate

by Akerman LLP on

The new tax law commonly referred to as the “Tax Cuts and Jobs Act” (the “Act”) – signed into law on December 22, 2017 – makes far reaching income tax law changes that will impact both commercial and residential real estate....more

Can You Benefit from a Section 1031 Exchange of Property?

by Ward and Smith, P.A. on

When you are selling vacant land or non-owner occupied property held for commercial or investment purposes, you need to consider structuring the sale as an Internal Revenue Code ("Code") Section 1031 Tax-Deferred Exchange,...more

Spain's Tax Reporting Rule Targets Vacation Rental Intermediaries

by Jones Day on

The Situation: Spain has introduced a new tax reporting obligation applicable to intermediaries in the renting of houses for tourism purposes, which mainly affects collaborative online platforms. Until now, the Spanish...more

Impact of the New Tax Reform Legislation on the Real Estate Industry

by King & Spalding on

On December 22, the President signed the Tax Cuts and Jobs Act (“TCJA”) into law. TCJA changes the taxation of individuals and businesses in many ways. While there are still many open questions to be addressed by technical...more

Decoding the Tax Cuts and Jobs Act – Part II: IRC § 1031 and Tax Deferred Exchanges Take a Haircut

by Garvey Schubert Barer on

BACKGROUND - On February 21, 2014, then House Ways and Means Committee Chairman Dave Camp (R-Michigan) issued a discussion draft of the “Tax Reform Act of 2014.” The proposed legislation spanned almost 1,000 pages and...more

The “Real Dirt” Tax Reform and the Real Estate Industry

by Burr & Forman on

Just prior to 2017 year end, Congress passed tax legislation that legislators and tax pundits alike describe as the most significant overhaul of the Internal Revenue Code since the 1986 Tax Act] championed by President Ronald...more

PA Requires Oil and Gas Lessees to Withhold State Income Taxes from Nonresident Lessors

by Steptoe & Johnson PLLC on

Under Act 43 of 2017 beginning January 1, 2018, anyone that pays Pennsylvania-source non-employee compensation or business income to a non-resident individual or disregarded entity that has a non-resident member, and is...more

Tax Reform's New Incentives for Investments in Low-Income Communities: Part 1 - State Governors Given Responsibility for...

by Holland & Knight LLP on

• A new tax incentive in the recently enacted Tax Cuts and Jobs Act would allow investors selling appreciated securities or other investment property to defer tax on those gains to the extent that the proceeds are reinvested...more

The Effects of the Tax Cuts and Jobs Act on Real Estate

by Proskauer - Tax Talks on

On Friday December 22, 2017, President Trump signed into law H.R.1, commonly referred to as the Tax Cuts and Jobs Act (TCJA). This is the most sweeping change to the U.S. federal income tax laws in over three decades, and it...more

Rural Development Council Works to Keep Georgia On Your Mind

When singers croon about the old yellow moonlight spilling through the pines of the Georgia woods, the “Georgia rain on the Jasper County clay” and taking the “midnight train to Georgia,” they evoke nostalgia for the state’s...more

The Impact of the Tax Cuts and Jobs Act on LIHTC Investments

The Tax Cuts and Jobs Act contains changes impacting the LIHTC Program. While the low-income housing tax credit program emerged largely unscathed, the reduction in corporate tax rates will reduce equity pricing. ...more

Tax Reform Advisory: Real Estate Industry

by Goulston & Storrs PC on

On December 22, 2017, the President signed into law H.R. 1, informally known as the “Tax Cuts and Jobs Act” (the “Act”). The Act will have a significant impact on many sectors of the economy including the real estate sector....more

DC Proposed Regulations Modify Deed of Trust Recording Tax Exemptions

by Seyfarth Shaw LLP on

New regulations proposed by the District of Columbia affect the recordation tax exemptions for purchase money deeds of trust not recorded simultaneously with the deed, deeds of trust recorded to refinance construction loans...more

Strategic Alternatives for Real Estate Portfolios, Part IV – Sale of the Portfolio

by King & Spalding on

This is the fourth piece in a five-month series of REIT Advisor that provides a high-level overview of the advantages and disadvantages of individual strategic alternatives for private real estate portfolios. This month’s...more

Tax Cuts and Jobs Act Update: Key Differences Between the House and Senate Bills

by Polsinelli on

The Senate Finance Committee Chairman’s Mark for the “Tax Cuts and Jobs Act,” released Nov. 9, describes in detail the Senate tax bill and is significantly different than the House bill, as it currently stands....more

Proposed U.S. Tax Reform May Impact Investments in U.S. Real Estate

by Mintz Levin on

Last week, the long-awaited proposed bill for a comprehensive reform of the U.S. tax code (the “Proposed Tax Reform”) was finally released. While the Proposed Tax Reform is likely to be heavily negotiated further and possibly...more

Musings on the Unified Tax Reform Framework - What It Means for the Real Estate Industry

by Goulston & Storrs PC on

This September, the Trump Administration, the House Ways and Means Committee and the Senate Finance Committee released a unified framework for a major tax reform effort. The framework is not a set of detailed legislative...more

Rebuilding After Hurricanes Harvey and Irma: Recovery Through Tax Deductions

by Bowditch & Dewey on

It is estimated that less than 20% of those affected by Hurricane Harvey, and a week later Hurricane Irma, had flood insurance. Home owner’s and renter’s insurance policies exclude damage caused by floods. Those affected...more

Australia Raises Capital Gains Withholding Rate for Foreign Residents in Real Estate Transactions

by Jones Day on

The Australian Commonwealth Government first introduced foreign resident capital gains withholding payments in July 2016 at a rate of 10 percent, in response to issues in collecting tax from foreign resident sellers and...more

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