[WSBARP] Sale of Controlling Interest- Excise Tax

[Marcus Fry]

Agreed, but I should have mentioned that the corp also owns farm machinery and equipment, lease rights, etc.

Marcus J. Fry
Lyon, Weigand & Gustafson, P.S.
Adoption Attorney*
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Yakima, Washington  98907
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From: wsbarp-bounces at lists.wsbarppt.com [mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Bryce Dille
Sent: Thursday, November 20, 2014 10:02 AM
To: WSBA Real Property Listserv
Subject: Re: [WSBARP] Sale of Controlling Interest- Excise Tax

That may be true if that wasn't only asset in the LLC. But if the only asset in the LLC is the real estate and there is a set price for that interest doesn't that price control for excise tax purposes?

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Bryce H. Dille
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From: wsbarp-bounces at lists.wsbarppt.com<mailto:wsbarp-bounces at lists.wsbarppt.com> [mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Marcus Fry
Sent: Thursday, November 20, 2014 9:51 AM
To: 'wsbarp at lists.wsbarppt.com'
Subject: [WSBARP] Sale of Controlling Interest- Excise Tax

The WACs provide that you can utilize the assessed value for the sale of a controlling interest in a company.  My question is, if the company own agricultural property, can I utilize the current use assessed value, which is lower than the regular assessed value?  I assume so, because the property is agriculture, but wanted to get confirmation from someone who has submitted this to DOR before.

Thank you

Marcus J. Fry
Lyon, Weigand & Gustafson, P.S.
Adoption Attorney*
P.O. Box 1689
Yakima, Washington  98907
Telephone:  (509) 248-7220
Facsimile:  (509) 575-1883

NOTICES:
 *Adoption Attorney reflects election as a Fellow of the American Academy of Adoption Attorneys, an invitation based organization of 300+ attorneys nationwide, under its criteria of experience, ethics and peer recommendation. Washington's Supreme Court has not yet developed or recognized a credentialing process for specialties, and certification/fellowship is not required to practice law in this state.
Confidentiality: This e-mail transmission may contain information which is protected by attorney-client, work product and/or other privileges.  If you are not the intended recipient, you are hereby notified that any disclosure, or taking of any action in reliance on the contents, is strictly prohibited.  If you have received this transmission in error, please contact us immediately and return the e-mail to us by choosing Reply (or the corresponding function on your e-mail system) and then deleting the e-mail.

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