[WSBAPT] Washington estate tax question

[Setareh Mahmoodi]

Karin,

Will you share your responses please. I have a client in the same
situation.

Thanks,

Setareh

On Fri, Jun 16, 2017 at 3:00 PM, Karin Treadwell <Karin at sayrelawoffices.com>
wrote:

> Out of state couple own a commercial property in Washington via a
> Washington LLC.  They also own two Washington residential properties as
> rentals, and for liability purposes would like to transfer these to
> Washington LLCs.
>
>
>
> Assuming they have established domicile out of state, wouldn’t the value
> of the business interests (whether held by the couple personally or their
> RLT) be considered an intangible asset and thus out of state property for
> Washington estate tax purposes?
>
>
>
> The DOR website emphasizes that whether an ownership interest is
> determined to be an intangible or tangible asset is based on whether it is
> operating for a “true business purpose.”
>
>
>
> Any feedback on how DOR is defining a true business purpose?  Operating a
> commercial building?  What about putting rental homes into an LLC for
> liability protection?
>
>
>
> Karin
>
> Karin S. Treadwell
>
> Sayre Law Offices, PLLC
>
> 1417 31st Ave S
>
> Seattle WA  98144-3909
>
>
>
> phone 206-625-0092 <(206)%20625-0092>
>
> fax 206-625-9040 <(206)%20625-9040>
>
>
>
> *Please Note that We Have Moved*
>
>
>
> We have moved our Seattle office to Mount Baker Ridge (a small commercial
> community just above the I-90 tunnel).
>
>
>
> *Our new address is 1417 31st Avenue South, Seattle WA 98144*
>
>
>
> All other contact information will remain the same
>
>
>
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-- 

*Best regards, *


*Setareh Mahmoodi *

*Attorney at Law *

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