[WSBARP] REET tax on sale of leasehold interests

[Joshua Grant]

I have a client who sold his rights to lease a lake resort.  There are several building which he built on US government land, which, at the end of a lease would apparently go to the US government.  In the sale allocation part of the contract the buyer and seller did not allocate any of the sale price to the buildings.  All they had was a $150,000 allocated (out of $640,000) for "equipment".
Anyone indicate if a REET  tax is owing on the sale of leasehold interests in buildings and what proof of value would need to be attached to a REET form on which the tax would be based?
Thanks.
Joshua F. Grant
[cid:image001.png at 01D93A42.5E398220]
P. O. Box 619
Wilbur, WA 99185
509 647 5578
jgrant at advocateslg.com

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