[WSBARP] excise tax exemption

Robert R. Cole cole-gilday at stanwoodlaw.net
Wed Jul 7 13:29:45 PDT 2021


Thanks a bunch, Bryce.

Very Truly Yours,

Robert R. Cole

Law Office of Cole & Gilday, P.C.

10101 - 270th St. NW

Stanwood, WA 98292

(360) 629-2900 (Telephone)

(360) 629-0220 (Fax)

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On 7/7/2021 1:18 PM, Bryce Dille wrote:
>
> Based on WAC 458-61A-212(1) that if the transfer does not involve the 
> recognition of gain or loss for income tax purposes it is not subject 
> to excise tax.. I realize this WAC refers to entity formation, 
> liquidation, dissolution or reorganization it is not that much of a 
> stretch to include your proposed transaction which I have done before 
> and never questioned.
>
> Bryce H. Dille
>
> Dille Law, PLLC
>
> 2010 Caton Way SW Ste. 101
>
> Olympia, WA 98502
>
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> Business Entity Creation and Management, Business, Government and Tax 
> Law, Real Estate and Land Use, Residential, Commercial and Condominium 
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> *From:*wsbarp-bounces at lists.wsbarppt.com 
> <wsbarp-bounces at lists.wsbarppt.com> *On Behalf Of *Robert R. Cole
> *Sent:* Wednesday, July 7, 2021 1:08 PM
> *To:* WSBA Probate & Trust Listserv <wsbarp at lists.wsbarppt.com>
> *Subject:* [WSBARP] excise tax exemption
>
> I am preparing a deed from a corporation's  401(k) trust to rollover 
> real estate to an IRA.  No change of beneficial ownership, but the 
> 401(k) indicated ownership only internally (this property was long ago 
> allocated to the beneficiary/employee, but the deed by which the 
> 401(k) held title did not ever mention the beneficiary, although she 
> paid the property taxes).  I see no mention of retirement plan 
> rollovers in the WAC exemptions, but there should be one. Thanks for 
> letting me know what has worked.
>
> -- 
>
> Very Truly Yours,
>
> Robert R. Cole
>
> Law Office of Cole & Gilday, P.C.
>
> 10101 - 270th St. NW
>
> Stanwood, WA 98292
>
> (360) 629-2900 (Telephone)
>
> (360) 629-0220 (Fax)
>
> This message contains confidential and privileged information that is 
> intended only for the named recipient(s).  Unless you are the named 
> recipient or authorized agent thereof, you are prohibited from 
> reading, copying, distributing or otherwise disseminating such 
> information.  If you receive this communication in error, please 
> notify the sender immediately.
>
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