<html><head><meta http-equiv="content-type" content="text/html; charset=utf-8"></head><body dir="auto">Good morning <div><br></div><div>This is a cross post from another listserve. Hopefully not too many already received it. </div><div><br></div><div><span style="-webkit-text-size-adjust: auto; background-color: rgb(255, 255, 255);">I am looking for a bit of guidance. </span><div class="" style="-webkit-text-size-adjust: auto;"><br class=""></div><div class="" style="-webkit-text-size-adjust: auto;">Client (an individual) is 100% owner of ABC corporation. Client is also owns 50% interest in XYZ corporation. </div><div class="" style="-webkit-text-size-adjust: auto;"><br class=""></div><div class="" style="-webkit-text-size-adjust: auto;">XYZ corporation owns real estate. XYZ corporation would like to sell/transfer its entire interest in real estate to ABC corporation. ABC corporation will pay fair market value to XYZ as part of the transfer. Is there a partial excise tax exemption available due to the fact that the client has an ownership position in each entity? The client is essentially buying 50% of the real estate from himself.</div><div class="" style="-webkit-text-size-adjust: auto;"><br class=""></div><div class="" style="-webkit-text-size-adjust: auto;">Thank you, in advance for your guidance.</div><div class="" style="-webkit-text-size-adjust: auto;"><br class=""></div><div class="" style="-webkit-text-size-adjust: auto;">Rich</div><br><div dir="ltr"><div class="" style="-webkit-text-size-adjust: auto; font-family: Helvetica; font-size: 12px; font-variant-ligatures: normal; font-variant-east-asian: normal; font-variant-position: normal; line-height: normal; orphans: 2; widows: 2;"><u class=""><font class="" size="4" face="Copperplate Gothic Bold"><b class="">RICH McENTEE</b></font></u></div><div class="" style="-webkit-text-size-adjust: auto; font-family: Helvetica; font-size: 12px; font-variant-ligatures: normal; font-variant-east-asian: normal; font-variant-position: normal; line-height: normal; orphans: 2; widows: 2;"><font class="" size="4" face="Copperplate Gothic Bold"><b class="">McENTEE LAW OFFICE</b></font></div><div class="" style="font-size: 17px; -webkit-text-size-adjust: auto; font-family: Helvetica; font-variant-ligatures: normal; font-variant-east-asian: normal; font-variant-position: normal; line-height: normal; orphans: 2; widows: 2;"><div class=""><font class="" face="Copperplate"><a href="x-apple-data-detectors://1/1" dir="ltr" x-apple-data-detectors="true" x-apple-data-detectors-type="address" x-apple-data-detectors-result="1/1" style="color: rgb(0, 0, 0); -webkit-text-decoration-color: rgba(0, 0, 0, 0.258824);">3800 Bridgeport Way W, Ste A411</a></font></div><div class=""><font class="" face="Copperplate"><a href="x-apple-data-detectors://1/1" dir="ltr" x-apple-data-detectors="true" x-apple-data-detectors-type="address" x-apple-data-detectors-result="1/1" style="color: rgb(0, 0, 0); -webkit-text-decoration-color: rgba(0, 0, 0, 0.258824);">University Place, WA 98466</a></font></div><div class=""><font class="" face="Copperplate"><a href="tel:253.227.9894" dir="ltr" x-apple-data-detectors="true" x-apple-data-detectors-type="telephone" x-apple-data-detectors-result="1/2" style="color: rgb(0, 0, 0); -webkit-text-decoration-color: rgba(0, 0, 0, 0.258824);">253.227.9894</a>(m)</font></div></div><div class="" style="-webkit-text-size-adjust: auto; font-family: Helvetica; font-size: 12px; font-variant-ligatures: normal; font-variant-east-asian: normal; font-variant-position: normal; line-height: normal; orphans: 2; widows: 2;"><span class="" style="font-family: Copperplate;"><a href="mailto:jrmcentee@gmail.com" class="">jrmcentee@gmail.com</a></span> </div></div></div></body></html>