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2017 SESSION

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HB 1489 Recordation tax; exemption for certain limited liability companies & limited/general partnerships.

Introduced by: Jason S. Miyares | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Recordation tax exemption; certain limited liability companies and limited or general partnerships. Provides a recordation tax exemption for deeds transferring property (i) to a subsidiary limited liability company or partnership from its parent limited liability company or partnership, (ii) from a subsidiary limited liability company or partnership to a parent limited liability company or partnership, (iii) to a limited liability company or partnership from a commonly owned limited liability company or partnership, or (iv) to a limited liability company or limited or general partnership from a commonly owned limited liability company or limited or general partnership, if the transaction qualifies for nonrecognition of gain or loss under the Internal Revenue Code.


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