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<p class="MsoNormal"><span style="font-size:12.0pt">Mike,<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt">Sounds like it should qualify for WAC
<a href="https://app.leg.wa.gov/WAC/default.aspx?cite=458-61A-211">458-61A-211</a>(2)(a). If the beneficial owners are still the spouses 50/50, it is a mere change in form.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt">Best, <o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt">Nick<o:p></o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:12.0pt;color:black;mso-ligatures:none">Nicholas Pleasants | Shareholder
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<p class="MsoNormal"><span style="color:#70AD47;mso-ligatures:none"><img border="0" width="223" height="95" style="width:2.3229in;height:.9895in" id="Picture_x0020_1" src="cid:image001.jpg@01DB3C19.735DD5E0" alt="OseranHahnAttyatLaw 8"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#70AD47;mso-ligatures:none"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="color:black;mso-ligatures:none">11225 SE 6<sup>th</sup> Street | Suite 100 | Bellevue, WA 98004<br>
Main: (425) 455-3900 | Fax: (425) 455-9201 | E-mail: <a href="mailto:npleasants@ohswlaw.com">
<span style="color:#0563C1">npleasants@ohswlaw.com</span></a> <o:p></o:p></span></p>
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<p class="MsoNormal" style="text-autospace:none"><span style="font-size:10.0pt;font-family:"Times New Roman",serif;color:#1F497D;mso-ligatures:none">CONFIDENTIALITY NOTE: This e-mail message contains information belonging to the law firm of Oseran Hahn, P.S.,
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<p class="MsoNormal"><b><span style="font-family:"Calibri",sans-serif;mso-ligatures:none">From:</span></b><span style="font-family:"Calibri",sans-serif;mso-ligatures:none"> wsbarp-bounces@lists.wsbarppt.com <wsbarp-bounces@lists.wsbarppt.com>
<b>On Behalf Of </b>Mike Jacobs<br>
<b>Sent:</b> Wednesday, November 20, 2024 5:20 PM<br>
<b>To:</b> wsbarp@lists.wsbarppt.com<br>
<b>Subject:</b> [WSBARP] Excise Tax Question<o:p></o:p></span></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Excise Tax Gurus,<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">PC and spouse own home 50/50 they want to transfer home to Washington LLC. The WA LLC is wholly owned by their Wyoming LLC which is owned 50/50 by PC and spouse.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">There is debt on the home, which lender will not call due.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Does the transfer of the home to the WA LLC change the beneficial interest such that excise tax will be owed, or is there no real change in beneficial interest because the WY LLC is 50/50?<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="mso-ligatures:none">Sincerely,<o:p></o:p></span></p>
<p class="MsoNormal"><span style="mso-ligatures:none"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="mso-ligatures:none">Michael P. Jacobs<o:p></o:p></span></p>
<p class="MsoNormal"><span style="mso-ligatures:none">Riach Gese Jacobs, PLLC<o:p></o:p></span></p>
<p class="MsoNormal"><span style="mso-ligatures:none">7331 196th St. SW | PO Box 1067 | Lynnwood, WA 98036
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="mso-ligatures:none">Phone: (425) 776-3191 | Fax: (425) 425-775-0406
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<p class="MsoNormal"><span style="mso-ligatures:none"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="mso-ligatures:none">REPRESENTING OUR COMMUNITY SINCE 1959<o:p></o:p></span></p>
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