REAL ESTATE TAXATION
Capital gains tax and its implications are important considerations in the sale of commercial property. A capital gain is usually the difference between the sales price of a property and its basis for tax purposes. Federal and many state governments allow for tax at a reduced rate on the amount of this gain.
If the property is considered inventory or non-capital gains property, then any gain realized from the sale of the property will be taxed at the much higher ordinary income tax rate.
There are a plethora of issues and complexities to the purchase, financing and sale of commercial real estate. At Tuggle Duggins, we represent borrowers and lenders, advise clients on loan restructuring, search titles, provide opinions and procure title insurance for both residential and commercial real estate transactions.
Our attorneys also have substantial experience in the practice of construction law, advising contractors, subcontractors, architects and engineers on a broad range of matters including contract negotiations and document preparation. Let us provide you with a better understanding of the laws concerning real estate taxation.
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