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RETAIL LAW ADVISOR An Exurban Dilemma: To Urbanize or Not to Urbanize? Practice: Retail, Restaurant & Consumer | Blog | At its July 3rd meeting, the Loudoun County, Virginia Board of Supervisors voted to support the extension of the DC-area’s Metrorail rapid transit system into the county, a decision that the president of Loudoun’s Chamber of Commerce called “a huge investment in Loudoun’s future…important not just for our economy in the next quarter or the... |
TAX LAW ROUNDUP Tax Court Respects Related-Party Loan Practice: Real Estate, Tax | Blog | In a significant taxpayer win, the Tax Court concluded in NA General Partnership v. Commissioner that related-party loans from a U.K. corporation to its controlled U.S. subsidiary was respected as debt, and the U.S. subsidiary was entitled to $932 million of interest deductions. The original loans were $4 billion in fixed-rate notes and $896 million in floating-rate... |
IRS REIT Guidance – Money Market Investment Treated as Cash Practice: Real Estate, Tax | Blog | The IRS issued Rev. Rul. 2012-17, treating a money market investment by a Real Estate Investment Trust (REIT) as cash for REIT asset testing purposes. REIT qualification requires 75% of the entity’s assets to be comprised of real estate, Government securities, or “cash and cash items”. Industry groups including the National Association of REITs (NAREIT) and... |
U.S. REIT Act Would Update REIT Statute Practice: Real Estate, Tax | Blog | The recently introduced US REIT Act of 2012 (H.R. 5746) would provide a series of helpful changes to the rules governing Real Estate Investment Trusts (REITs). REITs, which achieve a single level of taxation through a dividends-paid-deduction, have strict rules to ensure that they are focused on long term investment in real estate. The proposed legislation... |
Proposed Regulations Address Section 83 Timing of Compensation Practice: Real Estate, Tax | Blog | The IRS issued new proposed regulations on the timing of taxable compensation upon the transfer of property to a service provider (e.g., compensatory stock or partnership interest). In general, section 83 taxes the receipt of property in connection with the performance of services “in the first taxable year in which the rights of the person... |
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