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<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">Does anyone know when WA implemented the real estate excise tax with the controlling interest provision?
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<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">I would think that the Q on whether that WAC exemption applies turns on whether the corporate stock sale occurred before or after there was such a “thing” as a real estate
excise tax applying to controlling interest transfers. If it wasn’t a “thing” then it should work. If it was a “thing” and they didn’t pay, then you could get audited. What’s the SOL for not paying it?
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<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"><o:p> </o:p></span></p>
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<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Script MT Bold"">Jennifer L. White, Esq.</span><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">
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<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"><img width="105" height="105" style="width:1.0958in;height:1.0958in" id="Picture_x0020_1" src="cid:image001.jpg@01D690E0.67134B00"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><i><span style="font-size:11.0pt;font-family:"Arial Rounded MT Bold",sans-serif"><a href="mailto:jen@appletreelaw.com"><span style="color:#0563C1;font-style:normal">jen@appletreelaw.com</span></a><o:p></o:p></span></i></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Arial Rounded MT Bold",sans-serif">PO Box 11037<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Arial Rounded MT Bold",sans-serif">Yakima, WA 98909<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Arial Rounded MT Bold",sans-serif">509.225.9813<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"><o:p> </o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">From:</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"> wsbarp-bounces@lists.wsbarppt.com <wsbarp-bounces@lists.wsbarppt.com>
<b>On Behalf Of </b>Bryce Dille<br>
<b>Sent:</b> Tuesday, September 22, 2020 12:39 PM<br>
<b>To:</b> 'WSBA Real Property Listserv' <wsbarp@lists.wsbarppt.com><br>
<b>Subject:</b> Re: [WSBARP] REET Question<o:p></o:p></span></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D">When they got their tax statement who showed as taxpayer the parents or the corporation?<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:11.0pt;font-family:"Calibri",sans-serif">From:</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">
<a href="mailto:wsbarp-bounces@lists.wsbarppt.com">wsbarp-bounces@lists.wsbarppt.com</a> <<a href="mailto:wsbarp-bounces@lists.wsbarppt.com">wsbarp-bounces@lists.wsbarppt.com</a>>
<b>On Behalf Of </b>Paul Okner<br>
<b>Sent:</b> Tuesday, September 22, 2020 12:16 PM<br>
<b>To:</b> WSBA Real Property Listserv <<a href="mailto:WSBARP@lists.wsbarppt.com">WSBARP@lists.wsbarppt.com</a>><br>
<b>Subject:</b> [WSBARP] REET Question<o:p></o:p></span></p>
<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal">A REET question for all those who care to consider it:<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal">Approximately 40 years ago, buyer purchased an operating company and underlying (Seattle) real property from his parents in a stock sale. He ran the business, paid all the taxes, etc in the intervening time, and is now looking to sell
the real property.<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal">Title company now realizes title to the real property was not owned by the corporation all along, as assumed by buyers, but rather was still in the name of the individual parents. Of course they've passed. Title company now wants QCDs
from a long list of descendants/heirs, and miraculously all these folks are available and willing to sign.<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal">So the last hurdle seems to be the DOR. Client wants to rely on WAC 458-61A-215(1) and state that this is really just clearing up title, as all parties believed, and will sign a supplement to the REETA stating, that the property was always
believed to be owned by the corporation. My question is, will DOR go for this, given the amount of time that's elapsed?
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal">Thanks for your thoughts.<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal">-Paul Okner <o:p></o:p></p>
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<p class="MsoNormal"><b><span style="font-family:"Arial Narrow",sans-serif">Fremont Law Group PLLC</span></b><o:p></o:p></p>
<p class="MsoNormal"><span style="font-family:"Arial Narrow",sans-serif">3429 Fremont Pl. N., Suite 305</span><o:p></o:p></p>
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<p class="MsoNormal"><span style="font-family:"Arial Narrow",sans-serif">Seattle, WA 98103</span><o:p></o:p></p>
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<p class="MsoNormal"><span style="font-family:"Arial Narrow",sans-serif">(206) 399 - 1922</span><o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#0B5394">*Please note new mailing address above - Effective as of August 1, 2020</span></b><span style="font-family:"Arial Narrow",sans-serif">*</span><o:p></o:p></p>
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