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Nov. 2, 2016
Transfer tax case has big implications
The California Supreme Court is about to decide whether counties and cities can impose a transfer tax on the transfer of an interest in a legal entity that owns California real estate. By Dena Cruz
Commercial real estate investors in California have successfully avoided property tax reassessment by making sure no member of an LLC has majority control. Ocean Avenue LLC v. County of Los Angeles, 227 Cal. App. 4th 344 (2014). They have also avoided paying transfer taxes by transferring title to the property through the sale of the membership interests or the stock of the entities that directly or indirectly own the real es...
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