Residents of Los Angeles have approved Measure ULA, a ballot measure widely known as the “Mansion Tax,” which increases transfer tax rates on real estate sales valued at $5 million or more. Prior to Measure ULA, real estate...more
Allen Matkins partner Jared Kassan participated on a panel earlier this year to discuss legal issues surrounding partnerships and 1031 exchanges. The panel began by discussing the traditional “drop and swap” strategy with its...more
On November 3, 2020, voters across the State of California were asked to consider various state and local ballot measures. The hardest fought campaign, Proposition 15, asked voters whether to rescind property-tax rules...more
This November, the residents of the City of San Francisco will either approve or disapprove a ballot measure that will double city transfer taxes on residential and commercial sales over $10 million. Real estate investors...more
California Secretary of State Alex Padilla announced on Friday, May 29, 2020, that the revised initiative entitled "The California Schools and Local Communities Act of 2020" officially qualified for the November ballot. If...more
Due to COVID-19, certain deadlines have been extended for Section 1031 exchanges and Opportunity Zone Funds.
SECTION 1031 EXCHANGES -
IRS Notice 2020-23 (the Notice) has extended two deadlines for Section 1031 exchanges....more
On January 28, 2020, the California Office of Tax Appeals (OTA) denied the California Franchise Tax Board’s (FTB) request to rehear In the Matter of the Appeal of Sharon Mitchell (OTA Case No. 18011715). This decision may...more
2/11/2020
/ Franchise Tax Board ,
Income Taxes ,
IRS ,
Like Kind Exchanges ,
Limited Liability Company (LLC) ,
Partnerships ,
Real Estate Investments ,
Real Estate Transfers ,
Section 1031 Exchange ,
Substance Over Form Rule ,
Tax Appeals ,
Tax-Deferred Exchanges