A new Internal Revenue Service (IRS) Private Letter Ruling says that transferable development rights (TDRs) are of “like kind” with tangible real property and eligible for 1031 tax deferred treatment
Continue Reading IRS Rules Transferable Development Rights Are Real Property for Section 1031 Purposes
This past legislative session, the Florida legislature passed the Live Local Act, a comprehensive affordable housing law incentivizing private developers to build multifamily residential projects and to rent apartments at
Continue Reading Guidance Published on Florida’s Live Local Act Property Tax Exemption for Middle Market Multifamily Projects
Gov. DeSantis has signed House Bill 7063, which includes a reduction in the sales tax rate on leases of real property (other than short-term residential rentals).
Florida imposes its sales
Continue Reading Florida Legislature Reduces State-Level Sales Tax on Most Real Property Leases
On April 7, 2023, the Second District of the California Court of Appeal published a landmark opinion on California property tax law that expands the tax-exempt status of intangible assets
Continue Reading California Court of Appeal Landmark Opinion Expands Intangible Asset Exemption from Property Tax Assessment
As this year’s filing deadline of Feb. 15, 2022 approaches, those representing nonprofit organizations with California properties may wish to determine whether their clients are eligible for any applicable exemption,
Continue Reading California Property Tax Exemptions for Nonprofits – Annual Filings Due Feb. 15, 2022
Bradley R. Marsh, co-managing shareholder of global law firm Greenberg Traurig, LLP’s San Francisco office and co-chair of the U.S. State and Local Tax (SALT) practice, spoke at
Continue Reading Brad Marsh Speaks at North County Bar Association
Retail real estate has been one of the hardest hit markets by the COVID-19 pandemic. State shutdown orders and health guidelines, a shift in retailers’ needs, and tenant bankruptcies have
Continue Reading Pandemic-Driven Devalued Retail Real Estate Owners Should Seek Property Tax Reductions
On April 19, Gov. DeSantis signed into law a sweeping tax package, Senate Bill 50, that provides both temporary and long-term relief to Florida businesses. The new law requires
Continue Reading Florida Requires Sales Tax Collection on All In-Person and Online Sales, Effective July 1
Legislation has been reintroduced in the New York State Assembly (A.3009-B Part VV) and the Senate (S.2509-B Part SS) that, if enacted, will require (i) the recording of certain mezzanine
Continue Reading New York’s Proposed Tax on Mezzanine Debt, Preferred Equity May Have Adverse Implications for NY Lenders, Borrowers
On Jan. 7, 2021, the Department of Treasury and IRS issued final regulations (the Regulations) that provide guidance to the “carried interest” rules under Section 1061 of the Internal Revenue
Continue Reading 3-Year Holding Period Rule for ‘Carried Interests’ Addressed in IRS Final Regulations