News & Analysis as of

Excise Tax Property Owners

Pillsbury Winthrop Shaw Pittman LLP

Federal and State Tax Relief Resulting from California Fire

The Internal Revenue Service (IRS) has provided broad tax relief to taxpayers in Los Angeles County impacted by the recent winds and wildfires. Other counties may be added later....more

Foster Garvey PC

Now Effective: New REET Exemption Available in Washington for Property to Be Used to Provide Affordable Housing

Foster Garvey PC on

As of January 1, 2023, providers of affordable housing in Washington State have access to a new exemption from the excise tax on real estate sales (also known as the real estate excise tax, or “REET”). This new exemption,...more

McDermott Will & Emery

Weekly IRS Roundup December 19 – December 23, 2022

McDermott Will & Emery on

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of December 19, 2022 – December 23, 2022...more

Verrill

Stays at Airbnbs and Short Term Rentals attract Massachusetts Excise Tax

Verrill on

Airbnbs and other short term rental properties in Massachusetts are no longer shielded from state and local room occupancy excise taxes. At the end of 2018, Massachusetts enacted legislation that taxes short term rentals of...more

Foley Hoag LLP - Environmental Law

Who Needs a Carbon Tax When We Can Raise the Real Estate Excise Tax?

Governor Baker announced on Friday that, as part of his FY 2020 budget, he would be proposing to increase the real estate excise tax in order to fund the Global Warming Solutions Trust Fund. The Governor stated that, in the...more

Bowditch & Dewey

Governor Baker Extends the Brownfields Tax Credit Program Until 2023

Bowditch & Dewey on

The Brownfields Tax Credit program was due to expire on August 5, 2018. However, on May 31, 2018, Governor Baker signed the Housing Bond Bill, H4536, which, among other things, extended the Brownfields Tax Credit program for...more

Mintz - Real Estate, Construction &...

The Funding Loan Act of 1982 and the Origins of “Tregor Stamps”

n the early 1980s, in an effort to generate much-needed revenue for the City of Boston to offset federal and state budget cuts, the Massachusetts Legislature passed legislation entitled, “An Act Establishing the City of...more

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