[WSBARP] Excise Tax Exemption?

[samuel at meylerlegal.com]

Listmates,

 

Following up on the inquiry below, I think it is pertinent to add that the
New LLC is owned 50/50 by the sibling and their spouse and New LC has its
own EIN.  Under the circumstances, does WAC 458-61A-211 provide an exemption
against 20% of the purchase price because the purchasing sibling owns 20% of
the seller-LLC and will own the buyer-LLC, 50/50, with their spouse?  Thanks
for any input!

 

Sam

 

 

Samuel M. Meyler

Meyler Legal, PLLC 

1700 Westlake Ave. N., Ste. 200

Seattle, Washington 98109

Tel:  206.876.7770

Fax:  206.876.7771

Email:   <mailto:samuel at meylerlegal.com> samuel at meylerlegal.com

  

NOTICE:

 

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From: samuel at meylerlegal.com <samuel at meylerlegal.com> 
Sent: Monday, August 29, 2022 6:46 PM
To: 'WSBA Real Property Listserv' <wsbarp at lists.wsbarppt.com>; 'WSBA Probate
& Trust Listserv' <wsbapt at lists.wsbarppt.com>
Subject: Excise Tax Exemption?

 

Listmates,

 

Five siblings each own a 20% share of Sibs LLC, which owns several
properties.  One of the siblings seeks to purchase the properties from Sibs
LLC and forms a new LLC with their spouse for that purpose.  What REET
exemptions may apply?  Is there a particular way that this could be
structured to obtain a favorable, or more favorable, result?  Thanks in
advance.

 

Sam

 

 

Samuel M. Meyler

Meyler Legal, PLLC 

1700 Westlake Ave. N., Ste. 200

Seattle, Washington 98109

Tel:  206.876.7770

Fax:  206.876.7771

Email:   <mailto:samuel at meylerlegal.com> samuel at meylerlegal.com

  

NOTICE:

 

This electronic message contains information which may be Confidential or
Privileged and constitutes an electronic communication within the meaning of
the Electronic Communications Privacy Act 18 USC 2510. The information is
intended to be for the use of the individual or entity named above.  If you
are not the intended recipient, please be aware that any disclosure,
copying, distribution or use of the contents of this information is
prohibited.  If you received this transmission in error, please notify the
sender and delete the copy you received together with any attachments.
Thank you.

 

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