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<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
<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">REPRESENTING OUR COMMUNITY SINCE 1959<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">Confidentiality Notice: This e-mail message may contain confidential or privileged information. If you have received this message by mistake, please do not review, disclose, copy, or distribute the e-mail.
Instead, please notify us immediately by replying to this message or telephoning us. Thank you.<o:p></o:p></span></p>
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