transfer tax


Also found in: Dictionary, Thesaurus, Legal, Wikipedia.

Transfer tax

A small federal tax on the movement of ownership of all bonds (except obligation of the US, foreign governments, states, and municipalities) and all stocks.

Transaction Tax

A tax on a sale of property, especially the sale of a security. This is rarely used in the United States. In 1968, the City of Philadelphia levied a small transaction tax on all shares traded on the Philadelphia Stock Exchange, which caused the Exchange to move to Bala Cynwyd, immediately outside Philadelphia, until the tax was rescinded. More rarely, the term transaction tax may refer to a tax on the transfer of title on any property such as real estate. In this sense, capital gains taxes and estate taxes are transaction taxes. It is also called a transfer tax. See also: Stamp duty.

transfer tax

1. A tax on the transfer of securities that is paid by the seller. The SEC also imposes a small fee (1¢ per $500 value) on securities that are sold.
2. A tax on the transfer of assets by gift or by death.

transfer tax

A state or local tax imposed when title is transferred from one owner to another.

Transfer Tax

A tax imposed when real estate is sold or transferred from one person to another.
References in periodicals archive ?
This is because, under HB 1656, a transfer of New Hampshire real property to a corporation or an LLC will no longer be subject to the real estate transfer tax as long as it meets each of four statutory tests:
When we inform foreign clients about the transfer tax, we usually receive a serious reaction about the rate of transfer tax applied to the transaction.
Of nine recent attempts, all but two real estate transfer tax bills died without even getting a committee hearing.
ClosingCorp's initial version of DART delivers the recording fees and transfer tax information via Web services, enabling title/settlement companies and real estate solutions providers to seamlessly integrate the data into their current workflow.
Certain jurisdictions assess transfer tax based on the percentage of the ultimate change in ownership of the underlying real property, while other states that adopt this approach impose tax on 100% of the property's value regardless of whether there is only a partial change in beneficial ownership of the underlying real property.
Often they object that inherited wealth creates unequal opportunities for social advancement, even though the key educational expenses are typically incurred long before death, and are treated as support payments that fall outside the transfer tax framework.
The transfer tax is applied whether or not there is cash to pay the tax.
It was presumed that would adversely affect the economic fabric of the country, but today, with inflation, many people have the potential of having the estate tax, or any form of transfer tax, affect them," he said.