Buyers and sellers of real property anticipate some tax consequences from a real estate transaction, but typically these concerns are limited to federal income tax implications. The reality is that most states impose various...more
Common Entity Types - Legal persons (such as corporations) and natural persons can generally hold rights over real property in Canada. Investment in real estate can be made through direct ownership by an individual or...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
Key Facts of Real Estate Acquisitions Under Argentinian Law - I. INTRODUCTION. Below you will find a brief outline of the legal regulation of the acquisition of real estate property in Argentina, which is mainly...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
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
KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER ARGENTINIAN LAW - Below you will find a brief outline of the legal regulation of the acquisition of real estate property in Argentina, which is mainly governed by the Argentine...more
Measure ULA, also known as the Homelessness and Housing Solutions Tax (HHS Tax), and usually referred to as a "mansion tax," has been approved by voters. The measure creates a new tax on certain property transfers in the city...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
KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER ARGENTINIAN LAW - I. INTRODUCTION. Below you will find a brief outline of the legal regulation of the acquisition of real estate property in Argentina, which is mainly governed...more
Purchasing a home is an exciting time, but it is easy to be overwhelmed by the process. If you are married, before you sign on the dotted line, there is one thing you should consider; how you and your spouse want to hold your...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
KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER ROMANIAN LAW - I. Types of Real Property Transactions - A. Purchase of an undeveloped plot of land (agricultural); B. Purchase of a buildable plot of land (with or without...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
KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER ARGENTINIAN LAW - I. INTRODUCTION. Below you will find a brief outline of the legal regulation of the acquisition of real estate property in Argentina, which is mainly...more
A limited liability company (“LLC”) involved in either the sale or purchase of a one-to-four family dwelling in New York state must now disclose the names and contact information for all managers, owners and agents associated...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