[WSBARP] excise tax exemption

[Drayna, Paul S.]

It sounds like you might be able to plausibly claim that LLC#1 was acting as the nominee of LLC#2, under WAC 458-61A-214<https://app.leg.wa.gov/WAC/default.aspx?cite=458-61A-214>. You will need some documentation showing that this arrangement existed prior to the purchase. If you can cobble something together, it may be worth a try at least.

Paul S. Drayna | Helsell Fetterman LLP
Attorney | Of Counsel
800 Fifth Avenue, Suite 3200
Seattle, WA 98104
Direct: 206.689.2177
pdrayna at helsell.com<mailto:pdrayna at helsell.com>
www.helsell.com<http://www.helsell.com>

This e-mail may contain confidential information which is legally privileged. The information is solely for the use of the addressee(s) named above. If you are not the intended recipient, any disclosure, copying, distribution or other use of the contents of this information is strictly prohibited. If you have received this e-mail in error, please notify us by return e-mail and delete this message. Thank you.

From: wsbarp-bounces at lists.wsbarppt.com <wsbarp-bounces at lists.wsbarppt.com> On Behalf Of Jenna at prinzandbrozik.com
Sent: Wednesday, November 20, 2024 5:17 PM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>
Subject: [WSBARP] excise tax exemption

[EXTERNAL MESSAGE]
I have client(s) that are quitclaiming property from an LLC owned solely by the wife (LLC#1)  to an LLC owned by the husband and his brother. (LLC#2).

Although the wife's LLC bought the property, it was from funds given to her by the LLC owned by the husband and his brother.
Not sure why property was titled in wife's LLC at the time of purchase but it was.

Now they want to transfer the property from LLC#1 to LLC#2 in a quitclaim deed which I am preparing.

I don't see any real estate tax exemption that applies.

Does anyone have any suggestions?

Thanks,

Jenna Brozik
Managing Attorney
PRINZ & BROZIK PLLC
445 S. Grand Avenue
Pullman, WA 99163
509-338-0908 Telephone
509-338-3527 Facsimile

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://mailman.fsr.com/pipermail/wsbarp/attachments/20241121/1f2eaedd/attachment.html>