What Is Real Estate Transfer Tax?
Don’t get caught off guard by the taxes on the transfer of real property. Most states impose real estate transfer tax on the direct transfer of real property — fixed property such as land and the buildings on it. More than a dozen states also impose tax on the transfer of a controlling interest in an entity holding real property. Watch our short video to learn how BDO’s Real Estate Transfer Tax practice can help you.
This transcript was generated using AI and reviewed by an editor. Anytime a transaction involves the acquisition or disposition of real property, it's critical to assess the potential real estate transfer tax. Taxes owed on the transaction can be substantial. Don't get caught off guard by taxes on the transfer of real property. Here's what you need to know to avoid unwelcome surprises. Most jurisdictions impose a real estate transfer tax on the direct transfer of real property. More than fifteen jurisdictions also impose a tax on the transfer of a controlling interest in an entity holding real property known as the controlling interest transfer tax. It is critical to know whether the structure of the transaction involves the asset or the entity. Controlling interest transfer tax provisions are complex. Difficult to apply. Have limited guidance, and vary greatly by jurisdiction. There is also limited time to comply with reporting requirements. Most companies do not have the experience identifying or addressing the real property transfer tax implications of a legal entity transaction. BDO's real estate transfer tax team guides clients through this complex landscape to help avoid unforeseen challenges. A focus on real estate transfer tax allows us to provide consulting and compliance services to clients on a national scale whenever real estate is transferred directly or indirectly. BDO's real estate transfer tax practice, can help you avoid unwelcome surprises, potentially reduce tax liability, and meet compliance requirements Let BDO's real estate transfer tax team help you.
What Is Real Estate Transfer Tax? Video Transcript
This transcript was generated using AI and reviewed by an editor.
Understanding
Anytime a transaction involves the acquisition or disposition of real property, it's critical to assess the potential real estate transfer tax.
Taxes owed on the transaction can be substantial.
Don't get caught off guard by taxes on the transfer of real property.
Here's what you need to know to avoid unwelcome surprises.
Jurisdictional Variations in Transfer Tax
Most jurisdictions impose a real estate transfer tax on the direct transfer of real property.
More than fifteen jurisdictions also impose a tax on the transfer of a controlling interest in an entity holding real property known as the controlling interest transfer tax.
It is critical to know whether the structure of the transaction involves the asset or the entity.
Controlling interest transfer tax provisions are complex.
Difficult to apply.
Have limited guidance, and vary greatly by jurisdiction.
There is also limited time to comply with reporting requirements.
Challenges in Identifying Tax Implications
Most companies do not have the experience identifying or addressing the real property transfer tax implications of a legal entity transaction.
BDO's Expertise in Navigating Tax Complexities
BDO's real estate transfer tax team guides clients through this complex landscape to help avoid unforeseen challenges.
A focus on real estate transfer tax allows us to provide consulting and compliance services to clients on a national scale whenever real estate is transferred directly or indirectly.
Comprehensive Support for Clients
BDO's real estate transfer tax practice, can help you avoid unwelcome surprises, potentially reduce tax liability, and meet compliance requirements Let BDO's real estate transfer tax team help you.
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