Tax Law News and Insights

Assume that you want to make a tax-free exchange of your apartment building (the "relinquished property") for a retail strip center (the "replacement property"). You located a great deal on a retail center, but only if you close in 30 days. However, your buyer for the apartment cannot get its...

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Several bills aimed at making changes to Louisiana severance tax laws were filed on Friday, the deadline for pre-filing bills to be considered during the Louisiana Legislature's upcoming regular session, which is a fiscal one. State Rep. Brett Geymann, chair of the House Natural Resources Committee, pre-filed H.B. No. 495, H.B. No....

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The gain on sale of land that is held primarily for sale to customers in the ordinary course of business is taxable at ordinary income rates (and not at the more favorable capital gains rates). In addition, those gains may be subject to self-employment tax. The prospective increase in sale...

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