WatsAp (Free subscription) | 08/18/2008
MANILA, Philippines - Remittance companies were urged to abstain from collecting a stamp tax imposed on cash transfers, a move seen to benefit overseas Filipino workers (OFWs). 9 Vote(s)
atHome Top Story (Free subscription) | 08/16/2008
An Aug. 9 article about Sentex Homes' Estates of Guildwood development contained incorrect information. Sentex will pay the Toronto land transfer tax but not the Ontario land transfer tax. It will credit the purchasers of the final six home sales along Portia St., not all 17 house sales, with a $3,000 credit. The credit may be used to purchase a one-year GO transit pass but a GO pass is not included...
Wills, Trusts & Estates Prof Blog (Free subscription) | 08/12/2008
The IRS has recently released Notice 2008-63 which solicits comments on a proposed revenue ruling on the income and transfer tax consequences of family members creating a private trust company to serve as the trustee of trusts in which family...
BlueNC - Comments (Free subscription) | 08/11/2008
Yes the transfer tax is one of those measures that when looked at objectively really a common sense measure to deal with infrastructure needs. Too bad so few actually look beyond the surface. There are actually two options when the vote fails not one. As you said raise property taxes, but also I'm afraid there is also the option of doing nothing. As my daughter prepares for her first year in high...
BlueNC - Comments (Free subscription) | 08/11/2008
I was born and raised a Republican -- and taught to immediately feel a bit ill the minute someone mentions the word "tax." I later realized that they party had been overtaken by business interests and shifted to the Democratic side. Someone needs to start an ad campaign calling the transfer tax the "Development Tax." What people often neglect to mention is that commissioners will either get that tax...
BlueNC - Comments (Free subscription) | 08/11/2008
Given that the property transfer tax has been uniformly rejected statewide, and by wide margins, it's not just "Rabid, Bill O'Reilly worshipping, Fox News believing, don't tax me, Christians rule, Bush is God Republicans" who oppose it. It was even soundly defeated in Orange County. I had no idea that the home of UNC-CH was a center of right-wing thought. Here in Moore County, the transfer tax lost...
BlueNC - Comments (Free subscription) | 08/11/2008
Transfer tax has not been uniformly rejected. It is working fine in 6 North Carolina counties. In Orange County realtors and homebuilders spent $300,000, about $3 per registered voter and $10 per actual vote against the tax. The fact that money influences those elections is confirmed by NC Realtors in forcing their members to pay an assessment to raise $10 million to defeat the tax in other counties....
BlueNC - Comments (Free subscription) | 08/10/2008
...and a little black dress to go along with them. :D I bet you turned some heads at that party. I imagine some of those folks were saying, "I thought she was one of us!" I have heard some other realtor types speaking in support of a transfer tax and impact fees. Their argument was along the lines of....when property taxes get too high for the amenities provided buyers don't want to move to an area....
Rubin on Tax (Free subscription) | 07/26/2008
Since U.S. transfer taxes (estate and gift taxes) are calculated on the value of the property transferred, taxpayers seek low values while the IRS seeks high values. When the asset in question is an interest in a business entity ( e.g. , stock in a corporation), valuation experts recognize that the stock of an entity may be worth less than the value of the assets owned. Valuation adjustments (commonly...
One Detroit Network (Free subscription) | 07/25/2008
The City of Detroit should focus on making our communities conducive to economic growth and business investment by keeping property taxes, sales taxes, and business regulations and fees low. Furthermore, the city should avoid implementing new taxes such as land transfer taxes. Local leaders should also focus on essential government services, making sure that these services meet the needs of business....
TaxProf Blog (Free subscription) | 07/11/2008
The IRS today issued an advance copy of Notice 2008-63, 2008-31 I.R.B. ___ (Aug. 4, 2008), which solicits comments on a proposed revenue ruling on the income, gift, estate, and generation-skipping transfer tax consequences in situations in which family members...
Progressive Bloggers (Free subscription) | 07/05/2008
Stubborn and stupid are never a winning combination. And, oh look Stephane Dion is defending his wealth transfer tax in Calgary! With Garth Turner's ridiculous comments about separatists, that is now three greasy new turds to be rolled around in on the federal Liberal bed!
Business Wire (Free subscription) | 07/02/2008
DENVER--(BUSINESS WIRE)--Greg Zadel, president of the Colorado Association of REALTORS® (CAR), released the following statement regarding the announcement that
TaxProf Blog (Free subscription) | 06/27/2008
Elena Marty-Nelson (Nova) has posted Taxing Offshore Asset Protection Trusts: Icing on the Cake?, 15 Va. Tax Rev. 399 (1996), on SSRN. Here is the abstract: Income and transfer tax considerations that favor overseas asset protection trusts (OAPTs) compared to...
BlueNC - Comments (Free subscription) | 06/26/2008
It's about the transfer tax, not puppetshow.
