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Commercial Real Estate Tax General Business

Read Commercial Real Estate Law updates, news, and legal commentary from leading lawyers and law firms:

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

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

Don't Get Overtaxed: Successful Tax Assessment Challenge Shows Benefits of Apartment Owner Due Diligence

by Faegre Baker Daniels on

By statute, a variety of property types are assessed based on specific approaches to value – in some cases, at the lowest value indicated by a number of valuation approaches. Apartments are one such property type and, as...more

Small Business Focus: Employees and Independent Contractors

WHEN A PERSON OR BUSINESS NEEDS SOMEONE TO PERFORM SERVICES, that relationship may be structured in different ways. In some cases it may make sense for the person or business to hire someone as an employee, while other times...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

Are Transfers Of Membership Interest In A Single Member LLC Subject To The Deed Recording Fee?

On August 28, 2017 the South Carolina Department of Revenue published Rev Rule #17-5, which updated Rev Rule #15-3 (the “Rev Rul”). The Rev Rul deals with the application of the deed recording fee on real estate...more

IRS Issues Guidance on RIC and REIT Stock Distributions

by Morgan Lewis on

The IRS has issued Revenue Procedure 2017-45, which provides that certain distributions of stock by a publicly offered RIC or publicly offered REIT made pursuant to a “cash or stock election” will be treated as a taxable...more

New Property Tax Exemption for All South Carolina Manufacturers

by McNair Law Firm, P.A. on

The South Carolina Infrastructure and Economic Development Reform Act, 2017 Act 40, was recently enacted and is designed to enhance South Carolina’s economic competitiveness. The Act, commonly referred to as the gas tax bill,...more

Good Corporate Citizen or Simply Paying too Much Property Taxes

by Dickinson Wright on

Notwithstanding that property taxes tend to be one of the more significant operating expenses for commercial property owners, applying the “good corporate citizen” rational, many fail to challenge their assessments. Does that...more

Pennsylvania Court Provides Commercial Property Owners With Defense to Tax Assessment Appeals

by Pepper Hamilton LLP on

On July 5, the Pennsylvania Supreme Court issued a unanimous decision confirming that all real estate in a taxing district is a single class (i.e., not subject to sub-classifications based on property type, such as...more

Reverse Property Assessment Appeals: Commercial Properties Owners Have a Friend in the Pennsylvania Supreme Court

by Reed Smith on

In a landmark case titled Valley Forge Towers Apartments N, LP, et al. v. Upper Merion Area School District & Keystone Realty Advisors, LLC, No. 49 MAP 2016, issued July 5, 2017, the Pennsylvania Supreme Court (the “Court”)...more

California Supreme Court Confirms: Pony Up the Documentary Transfer Tax

by Nossaman LLP on

The California Supreme Court just dealt a blow to taxpayers who transfer interests in real estate-owning LLCs and other entities. In 926 North Ardmore Avenue, LLC v. County of Los Angeles (Cal. S. Ct. No. S222329, June 29,...more

Prescription For Success: Indiana Tax Court Again Affirms Property Tax Reduction For Retail Property Used As CVS

by Faegre Baker Daniels on

On May 25, 2017, the Indiana Tax Court affirmed the assessment reduction for a 10,800 square foot retail store used as a CVS in Monroe County. In Monroe County Assessor v. SCP 2002 E19 LLC 6697 a/k/a CVS 6697-02, the Tax...more

Michigan Supreme Court Clarifies Eligibility For Charitable Property Tax Exemption

by Fraser Trebilcock on

This week the Michigan Supreme Court in Baruch SLS Inc v Township of Tittabawassee (MSC Docket No 152047) clarified how the factors are to be considered in determining whether real property is exempt from...more

Trends in cross-border real estate investment and the changing tax landscape

by Hogan Lovells on

Real estate markets in both the U.S. and Europe continue to attract significant overseas investment. With interest rates at or near all-time lows, and dwindling returns in other asset classes, real estate has emerged as...more

Reducción de impuesto a las ventas sobre la renta comercial en Florida

by Bilzin Sumberg on

El estado de Florida aplicó un impuesto a las ventas sobre la renta comercial desde 1969. En la actualidad, el impuesto tiene una tasa del 6 por ciento en cada condado, excepto en Miami-Dade, que fija una tasa del 7 por...more

Florida Sales Tax on Commercial Rents Reduced

by Bilzin Sumberg on

The State of Florida has imposed a sales tax on commercial rents since 1969. Currently, the tax is imposed at the rate of 6 percent in every county except Miami-Dade which fixes the rate at 7 percent by reason of an add-on...more

Insurance Proceeds Payable To Tenant Diverted To Pay For Property Owner's Back Taxes

The Third Circuit Court of Appeals sitting in Pennsylvania recently issued a precedential decision that interpreted the definition of a “named insured” under a tax delinquency statute to encompass tenants of a property even...more

Commercial Division Rejects Third-Party Claim as Derivative in Trusts’ Suit Concerning Upper West Side Beaux-Arts Building

Asserting a claim on behalf of a trust in the Commercial Division can be risky, as the party asserting the claim must establish that the claimed injury is independent of any injury to the trust, and that they are therefore...more

Rating – the road to revaluation: Reform

by Dentons on

The new rating list goes live on 1 April 2017. This last article in Dentons' rating series explores whether the rating system, post revaluation, is sufficient, or whether further reform is required....more

Rating - the road to revaluation: Check, Challenge, Appeal: Wrong but not unreasonable will suffice...

by Dentons on

The headlines continue to be dominated by the 2017 revaluation and the disappointing approach to reform delivered by the Chancellor's Spring Budget, which simply repeats the government's commitment to more regular...more

Luxembourg Real Estate -Tax and Legal Developments

by Dentons on

This brief report provides a summary of the most recent Luxembourg legal developments that currently affect and will be affecting real estate practitioners throughout 2017....more

Rating – the road to revaluation: Material change of circumstances

by Dentons on

You instruct a specialist rating surveyor, who carries out detailed calculations to ascertain your rateable value (RV) and engages in lengthy negotiations with the Valuation Officer (VO) – then something changes at your...more

Business rates revaluation 2017: an explanation

by Hogan Lovells on

On 1 April 2017 the business rates payable in respect of properties in England and Wales will be changing. Business rates are the tax that businesses pay on the retail, office and industrial premises that they occupy. ...more

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