[WSBARP] REET controlling interest 12 months

Wed Dec 10 15:00:02 PST 2014

Beware the "option" language in the REET statute added by request of DOR (in addition to the special magic statutory automatic piercing the veil to parent entities).

If DOR kind find any kind of writing showing intent to transfer at the later date- I suspect DOR will retro-date the transfers to the date of the "option" agreement regardless of the actual date of transfer and demand the full REET value.

There seems to be some current policy within DOR to presume fraud, collect everything, and ask questions later under the reality that most taxpayers find it cheaper to pay than fight.

Dustin R. Klinger, P.C.
Partner

Miller Nash LLP
500 Broadway Street | Suite 400 | Vancouver, Washington 98660
Office: 360.699.4771 | Fax: 360.694.6413
E-Mail<mailto:Dustin.Klinger at MillerNash.com> | Bio<http://www.millernash.com/Dustin-R-Klinger> | Social<http://www.linkedin.com/company/23052?trk=NUS_DIG_CMPY-fol> | Blogs<http://www.millernash.com/resources/xpqGC.aspx?xpST=Blogs>

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From: wsbarp-bounces at lists.wsbarppt.com [mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Thomas M. Culbertson
Sent: Wednesday, December 10, 2014 2:21 PM
To: 'wsbarp at lists.wsbarppt.com'
Subject: [WSBARP] REET controlling interest 12 months

REET is applicable to a sale of a 50% or interest in an entity owning real estate, or to more than one sale “within any 12 month period.” Is anyone aware of DOR arguing that “any 12 month period” is anything other than 365 days?  In other words, if sale 1 occurred December 9, 2013 and sale 2 occurs tomorrow (December 11), are we home free?

THOMAS M. CULBERTSON  I  Lukins & Annis, PS
717 W. Sprague Ave, Suite 1600, Spokane, WA 99201
(509) 455-9555  I  fax (509) 363-2500  I  tculbertson at lukins.com<mailto:tculbertson at lukins.com>

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