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

Tax Law Impacts of the 2017 Tax Reform on Real Estate Industry

by Hinshaw & Culbertson LLP on

Generally, the new tax reform act (P.L. 115-97) enacted into law in December 2017 represents a boon for the real estate industry. The law offers additional incentives for investors in real estate, both by offering lower tax...more

Practical Insights on Tax Reform: Impact on the Real Estate Industry

On December 22, 2017, President Trump signed into law legislation, known as the Tax Cuts and Jobs Act (“TCJA”), which is the most extensive overhaul of the United States of the Internal Revenue Code (the “Code”) in 30 years....more

Impact of the Tax Cuts and Jobs Act on the Real Estate Industry

by Shearman & Sterling LLP on

On December 22, 2017, H.R.1, commonly referred to as the Tax Cuts and Jobs Act (“Tax Act”) was signed into law. The Tax Act made the most significant changes to the U.S. tax code since 1986, and will have an effect on...more

Qualified Opportunity Zones: New Chance to Reward Private Investments

by Murtha Cullina on

With the passage of H.R. 1, the federal “Tax Cuts and Jobs Act,” Congress last December approved a new program of tax incentives to spur private investment in designated low-income community census tracts which will be known...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

New Carried Interest Rules of Interest to Real Estate Developers and Asset Managers

by McNair Law Firm, P.A. on

Prior to the passage of the Tax Cuts and Jobs Act (the “Act”), one of the more controversial and hotly-debated tax benefits was the so-called “carried interest,” which allowed certain fund managers and venture capital firms...more

New Pennsylvania Personal Income Tax Withholding Requirements

by Cozen O'Connor on

Effective December 29, 2017, Pennsylvania imposes new Personal Income Tax (PIT) withholding obligations on certain lessees of non-residential real property and non-employer payors of Pennsylvania source compensation and...more

Decoding the Tax Cuts and Jobs Act – Part IV: The IRC § 199A Deduction for Qualified Business Income—the Devil Is in the Details...

by Garvey Schubert Barer on

BACKGROUND - The Tax Cuts and Jobs Act (“TCJA”) adopted a new 20% deduction for non-corporate taxpayers. It only applies to “qualified business income.” The deduction, sometimes called the “pass-through deduction,” is...more

Real Estate Aspects of Tax Reform

On December 22, 2017, President Trump signed into law the Tax Cuts and Jobs Act (TCJA), the most extensive overhaul of the United States tax regime in over thirty years. The new tax laws will have a significant impact upon...more

The New 20% Pass-Through Deduction: Can Real Estate Owners Claim It?

by McNair Law Firm, P.A. on

The new 20% deduction for “pass-through” business owners under the Tax Cuts and Jobs Act is raising many questions from owners of real estate-related businesses. Can these owners qualify for this important deduction, and...more

The Real Property Business And The Tax Cuts & Jobs Act

by Farrell Fritz, P.C. on

The Tax Cuts and Jobs Act of 2017[1] went into effect only two weeks ago. Many of its provisions represent significant changes to the Code, and it will take most of us several months to fully digest them,[2] to appreciate...more

New Internal Revenue Code Section 199A: The 20% Deduction for “Pass-Thru” Businesses

by McNair Law Firm, P.A. on

Aside from corporate tax reductions, one of the most important aspects of the new Tax Cuts and Jobs Act beginning this year is the new 20% deduction for “pass-thru” businesses – i.e. businesses that are not corporations. With...more

West Coast Real Estate Update - December 2017

by Holland & Knight LLP on

New California Ballot Initiative Targets Proposition 13 Tax Limit for Corporate Properties - Proposition 13, which was approved in California 40 years ago, could potentially be up for debate in 2018. A ballot initiative...more

Business Highlights of the 2017 Tax Cuts and Jobs Act

The highly anticipated Tax Cuts and Jobs Act is expected to be signed into law in early 2018. This Act when signed will be the largest tax reform since 1986 and as a result, can affect many aspects of your business. Here...more

Real Estate and Land Use - New Trump Tax Plan’s Impact on Real Estate

On Wednesday, Dec. 20, 2017, Congress passed a sweeping $1.5 trillion tax reform of the Internal Revenue Code of 1986. Dubbed the “Tax Cuts and Jobs Act,” the bill next heads to the President’s desk to be signed into law,...more

Early Takeaways for REITs from Tax Reform Season

by King & Spalding on

After months of being communicated through vague frameworks and political talking points, Republican tax reform proposals have finally been unveiled in legislative language. Earlier this month, H.R.1, the Tax Cuts and Jobs...more

UK Autumn Budget 2017 – the key measures impacting business

by White & Case LLP on

The Chancellor, Philip Hammond, has announced the Autumn Budget 2017. Alongside the headline-grabbing abolition of SDLT for first-time buyers on homes up to £300,000, and on the first £300,000 of properties up to £500,000,...more

UK To Tax Non Residents On Real Estate Gains

by Goodwin on

In a surprise announcement, the UK government announced its intention to start taxing non-UK residents on capital gains from UK real estate assets, including interests in “property rich” companies and other entities. The new...more

U.K. Is to Tax Gains Made by Non-Residents on Commercial and Residential Real Estate and Introduce Corporation Tax for Certain...

by King & Spalding on

The U.K. has announced that, from April 2019, tax will be charged on gains made by non-residents on disposals of all types of UK real estate, extending existing rules that apply only to residential property. The proposals,...more

Major Changes Proposed to UK Tax Regime for Non-resident Investors in UK Commercial Property

by Proskauer - Tax Talks on

The UK Government has announced in today’s Budget (22 November) that it is launching a consultation on extending the scope of UK tax on real estate. Currently, non-UK residents who are investors in UK land and buildings...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

S-corporations – Time to Roll In your Rental-Income Benjamins

by Miles & Stockbridge P.C. on

In Private Letter Ruling 201725022 (the “PLR”), the IRS determined that rental income an S-corporation received from its operations is not passive investment income that would subject the S-corporation to termination. In...more

It’s the Taxes, Stupid

by Dechert LLP on

In this commentary we have talked about a lot of challenges facing commercial real estate finance and other capital market activities over the years. With more or less “pants on fire” anxiety, we’ve talked about Dodd-Frank’s...more

Virginia’s Tourism Development Financing Program Gains Steam Around the State

by Williams Mullen on

The unique financing alternative afforded to tourism project developers under Virginia Code Section 58.1-3851.1 creates exciting opportunities for growth in tourism and resort areas throughout the state. The expected...more

Part Cash, Part Stock, 100% Taxable – New IRS Guidance on RIC and REIT Distributions

by Dechert LLP on

The U.S. Internal Revenue Service (“IRS”), on August 11, 2017, issued Revenue Procedure 2017-45 (the “New Revenue Procedure”).1 Pursuant to the New Revenue Procedure, the IRS will treat part cash and part stock distributions...more

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