Taking the Sting Out of Death Taxes with Dylan Metzner, Jones & Keller
Bill on Bankruptcy: Fee Agreement Puts Law Firm In Trustee's Sights
New immigrants to Israel who purchase a first residence will pay significantly lower purchase tax rates than the tax payable according to the current benefit, after the Knesset Finance Committee recently approved an amendment...more
Our previous Client Alert discussed assessable transfers of interest or “ATIs” and Fee in Lieu of Tax “FILOT” Agreements in the aftermath of significant amendments to South Carolina’s Tax Code in 2022. As discussed...more
In a decree dated October 16, 2023, the German tax authorities adopted provisions from two rulings of the German Federal Fiscal Court (BFH) from 2021 and 2022 on the allocation of real estate and also established further new...more
Starting October 1, D.C.’s recordation and transfer tax rates will decrease for the first time in four years, allowing the industry to enjoy cost savings on affected transfers commencing on the first day of the District’s...more
It has been more than three months since Measure ULA (a/k/a the LA Mansion Tax and the Homelessness and Housing Solutions Tax) became effective in the City of Los Angeles. Measure ULA imposes a new special transfer tax (the...more
D.C.’s recordation and transfer tax rates on commercial or mixed-use properties are on track to decrease to a combined rate of 2.9% for transactions closing after September 30, 2023. ...more
Das Jahressteuergesetz 2022 (JStG 2022) brachte verschärfte Rechtsfolgen bei Missachtung der vorgegebenen Anzeigepflichten bei Grundstücksveräußerungen mittels Übertragung von Anteilen an einer Kapitalgesellschaft („Share...more
The so-called “mansion tax” approved by Los Angeles voters in 2022 and effective April 1, 2023 (Measure ULA) is a misnomer. It establishes a new 4% documentary transfer tax on the sale of any real property priced or valued...more
In the November 2022 election, the voters of the City of Los Angeles passed Los Angeles Measure ULA (United to House LA). Measure ULA—which will go into effect on April 1, 2023—establishes and funds programs for the purposes...more
Measure ULA, also known as the “Homelessness and Housing Solutions Tax,” was a ballot measure in Los Angeles which was recently approved by voters in the 2022 Los Angeles County Midterm Elections. Measure ULA will impose a...more
In addition to navigating through the uncertainty of current economic forecasts, real estate professionals should also be aware of a growing trend in the Golden State: real property transfer tax hikes. Recently, many...more
Under Pennsylvania law, a real estate lease is subject to a transfer tax if the lease is for a term of thirty or more years. It is reasoned that long-term leases are analogous to transferring title to real estate and...more
Last week, the Israeli Ministry of Finance approved the outline for a hike to the purchase tax imposed on real estate investors, once again, to tax brackets of 8% and 10%. The ministry’s goal is to “dissuade” investors from...more
On April 7, 2021, the New York State Legislature passed the New York Budget Bill for fiscal year 2022 which was signed by Governor Andrew Cuomo on April 19, 2021 (the “Budget Bill”). S.B. S2509C, 2021 Leg., 2021 Reg. Sess....more
On April 21, 2021, the German federal parliament passed a new law that amends the German Real Estate Transfer Tax (RETT) Act. The new rules will lead to a significant tightening of the taxation of share deals whenever real...more
After a long-lasting discussion regarding the real estate transfer tax (“RETT”) rules for share deals, it seems that the end of that discussion is near — at least for the moment. On 16 April 2021 the finance committee of the...more
Der Gesetzesentwurf zur Änderung der Besteuerung von Share Deals bei grundstückshaltenden Gesellschaften lag einige Zeit auf Eis, sprachen doch gute Gründe dafür, die gegenwärtige Regelung beizubehalten. Zum Ende der...more
When It Rains- Sometimes you go for weeks without having to consider a particular tax issue in any depth. Then, unexpectedly, that issue comes to the forefront of several projects. That was my experience this past week...more
On January 1, 2020, the local realty transfer tax assessed on real estate conveyances in the City of Pittsburgh increased to 4.0%; meaning the aggregate realty transfer tax assessed on conveyances in the City is 5%....more
The Situation: Under the German real estate transfer tax ("RETT") law, RETT is not only triggered on the direct acquisition of German properties, but also in case of share deals involving companies with German properties, if...more
As anticipated, on Tuesday May 28, 2019, the DC Council unanimously approved increasing transfer and recordation taxes from 2.9% to 5% on transactions of over $2 million effective October 1, 2019 (assuming Congress does not...more
The Conference of the German Ministers of Finance has announced measures against so-called share deal structures following the conclusion of the respective technical federal-state working group. Background - So-called...more
On February 1, 2018, the local realty transfer tax assessed for real estate conveyances in the City of Pittsburgh will increase one-half of one percent from 3.0% to 3.5%; meaning the aggregate realty transfer tax assessed on...more
Under California law, there are two separate tax implications affecting California real estate transfers that result in a “change in ownership” of the real property - a property tax reassessment and a real property transfer...more
California allows cities and counties to impose a tax on certain real estate transfers at a rate of 1.1 percent of the sales price. Los Angeles County enacted an ordinance to impose the tax on transfers within the county....more