[WSBARP] REET tax and change of cotnrolling interest
Josh Grant
jgrant at accima.com
Thu Jun 2 11:09:16 PDT 2022
Happy to Rod...
More simply, When less than 50% minority members assign their membership interest to kids (who are also minority members); and after assignment kids are still all minority members, and it is a gift... not a sale... I assume there is no requirement to file a controlling interest REET affid. and/or pay REET taxes?
thanks
Josh
Joshua F. Grant
P. O. Box 619
Wilbur, WA 99185
509 647 5578
From: Rod Harmon
Sent: Thursday, June 02, 2022 9:14 AM
To: WSBA Real Property Listserv
Subject: Re: [WSBARP] REET tax and change of cotnrolling interest
Joshua, I am not following your math. Could you clarify?
Rod Harmon
RODNEY T. HARMON
Attorney at Law
P.O. Box 1066
Bothell, WA 98041
Tel: (425) 402-7800
Fax: (425) 458-9096
www.rodharmon.com
rodharmon at msn.com
From: wsbarp-bounces at lists.wsbarppt.com On Behalf Of Josh Grant
Sent: Wednesday, June 1, 2022 3:48 PM
To: wsbar <wsbarp at lists.wsbarppt.com>
Subject: [WSBARP] REET tax and change of cotnrolling interest
Mom and dad own 48% (25% each) of an LLC with a $1,000,000 parcel of real estate. The kdis own the rest.
Mom and Dad gifted their 48% to the kids so now the kids each own 25% of the LLC each.
No sale all gifts.
Please confirm that the Controlling Interest Transfer, in this case where there is no sale.. is not triggered.
Thanks
Joshua F. Grant
P. O. Box 619
Wilbur, WA 99185
509 647 5578
--------------------------------------------------------------------------------
***Disclaimer: Please note that RPPT listserv participation is not restricted to practicing attorneys and may include non-practicing attorneys, law students, professionals working in related fields, and others.***
_______________________________________________
WSBARP mailing list
WSBARP at lists.wsbarppt.com
http://mailman.fsr.com/mailman/listinfo/wsbarp
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://mailman.fsr.com/pipermail/wsbarp/attachments/20220602/0080ab51/attachment.html>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: advocates[3].png
Type: image/png
Size: 7674 bytes
Desc: not available
URL: <http://mailman.fsr.com/pipermail/wsbarp/attachments/20220602/0080ab51/advocates3.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image001.png
Type: image/png
Size: 7674 bytes
Desc: not available
URL: <http://mailman.fsr.com/pipermail/wsbarp/attachments/20220602/0080ab51/image001.png>
More information about the WSBARP
mailing list