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</o:shapelayout></xml><![endif]--></head><body lang=EN-US link=blue vlink=purple><div class=WordSection1><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Arial","sans-serif";color:#44546A'>Even though excise tax exempt, suggest you consult a CPA regarding taxable event of transferring real property out of corporation to LLC or to owners. There will likely be CG on difference in tax basis of the real property in the Corp and the FMV at date of transfer. <o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Arial","sans-serif";color:#44546A'><o:p> </o:p></span></p><div><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Arial","sans-serif";color:#44546A'>Sincerely,<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Arial","sans-serif";color:#44546A'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Arial","sans-serif";color:#44546A'>Tom<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Arial","sans-serif";color:#44546A'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Arial","sans-serif";color:#44546A'>Thomas J. Westbrook<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Arial","sans-serif";color:#44546A'>Attorney at Law<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Arial","sans-serif";color:#44546A'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#44546A'><img width=170 height=67 id="Picture_x0020_3" src="cid:image002.jpg@01D036EF.AB732C80" alt="cid:image001.jpg@01CFC835.0D3988D0"></span><span style='font-size:11.0pt;font-family:"Arial","sans-serif";color:#44546A'><o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Arial","sans-serif";color:#44546A'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Arial","sans-serif";color:#44546A'>Rodgers, Kee & Card<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Arial","sans-serif";color:#44546A'>324 West Bay Drive NW, Suite 201<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Arial","sans-serif";color:#44546A'>Olympia, Washington 98502<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Arial","sans-serif";color:#44546A'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Arial","sans-serif";color:#44546A'>Phone: 360-352-8311<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Arial","sans-serif";color:#44546A'>Facsimile: 360-352-8501<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Arial","sans-serif";color:#44546A'>Email: tjw@buddbaylaw.com<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Arial","sans-serif";color:#44546A'>Skype: thomas.westbrook<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Arial","sans-serif";color:#44546A'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:9.0pt;font-family:"Arial","sans-serif";color:#44546A'>The information contained in this email and attachment(s) are for the exclusive use of the addressee(s) and may contain private, privileged and/or confidential information. If you are not the addressee, you are strictly prohibited from reading, photocopying, distributing or otherwise using this email or its contents in any way. If you have received this communication in error, please notify us immediately by telephone at 360-352-8311 or by e-mail to <a href="mailto:reception@buddbaylaw.com">reception@buddbaylaw.com</a>, and destroy the original message from your electronic files.<o:p></o:p></span></p></div><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Arial","sans-serif";color:#44546A'><o:p> </o:p></span></p><div><div style='border:none;border-top:solid #B5C4DF 1.0pt;padding:3.0pt 0in 0in 0in'><p class=MsoNormal><b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'>From:</span></b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'> wsbarp-bounces@lists.wsbarppt.com [mailto:wsbarp-bounces@lists.wsbarppt.com] <b>On Behalf Of </b>PrestonFoskey<br><b>Sent:</b> Friday, January 23, 2015 9:25 AM<br><b>To:</b> WSBA Real Property Listserv<br><b>Subject:</b> Re: [WSBARP] Transfer of commercial property from corporation to LLC<o:p></o:p></span></p></div></div><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>Brett:<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'> Thank you. Exactly what I was hoping to file. Appreciate the help saved me research time.<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><b><i><span style='font-size:16.0pt;font-family:"Cambria","serif";color:#1F497D'>Preston L. Foskey</span></i></b><b><i><span style='font-size:16.0pt;font-family:"Informal Roman";color:#1F497D'>, </span></i></b><span style='color:#1F497D'>Attorney at Law<o:p></o:p></span></p><p class=MsoNormal><span style='color:#1F497D'>WSBA # 12509<o:p></o:p></span></p><p class=MsoNormal><b><i><span style='font-size:14.0pt;font-family:"Cambria","serif";color:#1F497D'>Preston L. Foskey, P. S.<o:p></o:p></span></i></b></p><p class=MsoNormal><span style='color:#1F497D'>8248 East D Street<o:p></o:p></span></p><p class=MsoNormal><span style='color:#1F497D'>Tacoma, Washington 98404-1042<o:p></o:p></span></p><p class=MsoNormal><span style='color:#1F497D'>Phone: 253.535.5829 Fax: 253.535.9391<o:p></o:p></span></p><p class=MsoNormal><span style='color:#1F497D'>E-Mail: <a href="mailto:preston@plfps.comcastbiz.net">preston@plfps.comcastbiz.net</a><o:p></o:p></span></p><p class=MsoNormal><span style='font-size:9.0pt;font-family:"Book Antiqua","serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:9.0pt;font-family:"Book Antiqua","serif";color:#1F497D'>WARNING: This email (including any attachments) is covered by the Electronic Communications Privacy Act (EPCA), 18 U.S.C., Sec. 2510 - 2522, is confidential and privileged. This email is solely for the use of the addressee(s) named above. Receipt by anyone other than the individual recipient is NOT a waiver of attorney-client privilege. Any violation of the ECPA is subject to the penalties stated therein.<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:9.0pt;font-family:"Book Antiqua","serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:9.0pt;font-family:"Book Antiqua","serif";color:#1F497D'>SPECIAL NOTICE TO CLIENT(S): If you are my client this email is directed to you, DO NOT FORWARD to any other party, or you could be waiving the attorney-client privilege.<o:p></o:p></span></p><p class=MsoNormal><span style='color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:8.0pt;font-family:"Arial","sans-serif";color:#1F497D'>Notice: The information contained in this e-mail is confidential and may also be attorney-client privileged. This information is intented only for the use of the individual or entity to whom it is addressed. If you are not the intended recipient, or the employee or agent responsible to deliver it to the intended recipient, you are hereby notified that any use, dissemination, distribution,or copying of this communication is strictly prohibited. If you have received this e-mail in error, pleasee immediately notify me by replying to this e-mail and deleted the original. Thank you.<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'>From:</span></b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'> <a href="mailto:wsbarp-bounces@lists.wsbarppt.com">wsbarp-bounces@lists.wsbarppt.com</a> [<a href="mailto:wsbarp-bounces@lists.wsbarppt.com">mailto:wsbarp-bounces@lists.wsbarppt.com</a>] <b>On Behalf Of </b>Brett Sullivan<br><b>Sent:</b> Friday, January 23, 2015 9:22 AM<br><b>To:</b> WSBA Real Property Listserv<br><b>Subject:</b> Re: [WSBARP] Transfer of commercial property from corporation to LLC<o:p></o:p></span></p><p class=MsoNormal><o:p> </o:p></p><div><p class=MsoNormal>Preston- see <a href="http://app.leg.wa.gov/WAC/default.aspx?cite=458-61A-211">http://app.leg.wa.gov/WAC/default.aspx?cite=458-61A-211</a> for an exemption from Washington excise tax that might apply.<o:p></o:p></p></div><div><p class=MsoNormal><br clear=all><o:p></o:p></p><div><div><div><div><div><div><div><div><div><div><div><div><div><div><div><div><div><div><div><div><p class=MsoNormal><o:p> </o:p></p></div><div><p class=MsoNormal><o:p> </o:p></p></div><div><p class=MsoNormal><b>Brett T. Sullivan</b><o:p></o:p></p></div><p class=MsoNormal>Attorney at Law<o:p></o:p></p></div><div><p class=MsoNormal><o:p> </o:p></p></div><div><p class=MsoNormal><span style='border:solid windowtext 1.0pt;padding:0in'><img border=0 width=200 height=31 id="_x0000_i1025" src="cid:image003.jpg@01D036EF.AB732C80" alt="Image removed by sender."></span><o:p></o:p></p><div><p class=MsoNormal><br>Sullivan Stromberg, PLLC<o:p></o:p></p><div><p class=MsoNormal>827 W. 1st Ave., Suite 425<br>Spokane, WA 99201-3914<o:p></o:p></p></div><div><p class=MsoNormal><o:p> </o:p></p></div><div><p class=MsoNormal>P: (509) 413-1004 x.100<o:p></o:p></p></div><div><p class=MsoNormal>D: (509) 828-4642<o:p></o:p></p></div><div><p class=MsoNormal>F: (509) 413-1078<o:p></o:p></p></div><div><p class=MsoNormal>E: <a href="mailto:bretts@sullivanstromberg.com" target="_blank">bretts@sullivanstromberg.com</a><o:p></o:p></p></div><div><p class=MsoNormal><o:p> </o:p></p></div><div><p class=MsoNormal><a href="http://www.sullivanstromberg.com" target="_blank">http://www.sullivanstromberg.com</a><o:p></o:p></p></div><div><p class=MsoNormal><a href="http://www.twitter.com/sullivanlawyer" target="_blank">http://www.twitter.com/sullivanlawyer</a><o:p></o:p></p></div><div><p class=MsoNormal><o:p> </o:p></p></div><div><p class=MsoNormal>CONFIDENTIALITY NOTICE: This email and any attachments are confidential and may be protected by legal privilege. If you are not the intended recipient, be aware that any disclosure, copying or distribution, or use of this email or any attachment is prohibited. If you have received this email in error, please notify me by returning it to the sender and delete this copy from your system.<o:p></o:p></p></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div><p class=MsoNormal><o:p> </o:p></p><div><p class=MsoNormal>On Fri, Jan 23, 2015 at 9:05 AM, PrestonFoskey <<a href="mailto:preston@plfps.comcastbiz.net" target="_blank">preston@plfps.comcastbiz.net</a>> wrote:<o:p></o:p></p><div><div><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'>Listmates:<o:p></o:p></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'> Client has small family corporation that owns real property with small apartment complex. Client wants to form LLC and transfer real property from corporation to LLC.<o:p></o:p></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'> Will client be required to pay excise tax on transfer from corporation to LLC when owners of corporation are same individuals as members of LLC?<o:p></o:p></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'> Thanks in advance.<o:p></o:p></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'> <o:p></o:p></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><b><i><span style='font-size:16.0pt;font-family:"Cambria","serif"'>Preston L. Foskey</span></i></b><b><i><span style='font-size:16.0pt;font-family:"Informal Roman"'>, </span></i></b>Attorney at Law<o:p></o:p></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'>WSBA # 12509<o:p></o:p></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><b><i><span style='font-size:14.0pt;font-family:"Cambria","serif"'>Preston L. Foskey, P. S.</span></i></b><o:p></o:p></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'>8248 East D Street<o:p></o:p></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'>Tacoma, Washington 98404-1042<o:p></o:p></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'>Phone: <a href="tel:253.535.5829" target="_blank">253.535.5829</a> Fax: <a href="tel:253.535.9391" target="_blank">253.535.9391</a><o:p></o:p></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'>E-Mail: <a href="mailto:preston@plfps.comcastbiz.net" target="_blank">preston@plfps.comcastbiz.net</a><o:p></o:p></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><span style='font-size:9.0pt;font-family:"Book Antiqua","serif"'> </span><o:p></o:p></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><span style='font-size:9.0pt;font-family:"Book Antiqua","serif"'>WARNING: This email (including any attachments) is covered by the Electronic Communications Privacy Act (EPCA), 18 U.S.C., Sec. 2510 - 2522, is confidential and privileged. This email is solely for the use of the addressee(s) named above. Receipt by anyone other than the individual recipient is NOT a waiver of attorney-client privilege. Any violation of the ECPA is subject to the penalties stated therein.</span><o:p></o:p></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><span style='font-size:9.0pt;font-family:"Book Antiqua","serif"'> </span><o:p></o:p></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><span style='font-size:9.0pt;font-family:"Book Antiqua","serif"'>SPECIAL NOTICE TO CLIENT(S): If you are my client this email is directed to you, DO NOT FORWARD to any other party, or you could be waiving the attorney-client privilege.</span><o:p></o:p></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'> <o:p></o:p></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><span style='font-size:8.0pt;font-family:"Arial","sans-serif"'>Notice: The information contained in this e-mail is confidential and may also be attorney-client privileged. This information is intented only for the use of the individual or entity to whom it is addressed. If you are not the intended recipient, or the employee or agent responsible to deliver it to the intended recipient, you are hereby notified that any use, dissemination, distribution,or copying of this communication is strictly prohibited. If you have received this e-mail in error, pleasee immediately notify me by replying to this e-mail and deleted the original. Thank you.</span><o:p></o:p></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'> <o:p></o:p></p></div></div><p class=MsoNormal><br>_______________________________________________<br>WSBARP mailing list<br><a href="mailto:WSBARP@lists.wsbarppt.com">WSBARP@lists.wsbarppt.com</a><br><a href="http://mailman.fsr.com/mailman/listinfo/wsbarp" target="_blank">http://mailman.fsr.com/mailman/listinfo/wsbarp</a><o:p></o:p></p></div><p class=MsoNormal><o:p> </o:p></p></div></div></body></html>