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<DIV><FONT size=4>Two brothers inherited from their parents. Brother A
received real property; Brother B and Brother A each received 1/7th interest in
an LLC which holds only real property.</FONT></DIV>
<DIV><FONT size=4></FONT> </DIV>
<DIV><FONT size=4>The two brothers wish to realign the property between
themselves.</FONT></DIV>
<DIV><FONT size=4></FONT> </DIV>
<DIV><FONT size=4>I assume when Brother A gives real property to Brother B
because he is getting interests in an LLC in return, that the 1% tax needs to be
paid (based on the assessed value of the land he is getting).</FONT></DIV>
<DIV><FONT size=4></FONT> </DIV>
<DIV><FONT size=4>I think I saw a discussion here that when Brother B gives
Brother A interests in the LLC that that also triggers the 1% tax, again based
on the value of the land .</FONT></DIV>
<DIV><FONT size=4></FONT> </DIV>
<DIV><FONT size=4>IF so how does one pay the tax? Is there a special 1%
form to be used when LLC membership percentages are being transferred in this
situation.</FONT></DIV>
<DIV><FONT size=4></FONT> </DIV>
<DIV><FONT size=4>thanks</FONT></DIV>
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<DIV style="FONT-SIZE: 14pt; FONT-FAMILY: 'Calibri'; COLOR: #000000">Joshua F.
Grant, PS<BR>Attorney at Law<BR>P. O. Box 619<BR>Wilbur, WA 99185<BR>tel 509 647
5578<BR>fax 509 647 2734<BR></DIV></DIV></DIV></BODY></HTML>