transfer tax


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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Stock Exchange, which caused the Exchange to move to Bala Cynwyd, immediately outside Philadelphia, until the tax was rescinded.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 ?
04 provides that the transfer tax no longer applies to single entity reorganizations or to a "mere change in identity, form, or place of organization" under the Internal Revenue Code.
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.
The controlling interest transfer tax provisions present complex issues for business acquisitions, mergers, stock sales, or other changes in a legal entity's ownership.
And if that level of redistribution does not meet societal demands, a progressive income tax is a much better instrument than the transfer tax.
Tax Act 2001 overhauls the transfer tax system without changing the complexity.
Why has the transfer tax (otherwise referred to as an estate tax, or the tax due from an individual's estate upon their death) been a preferred method for nearly 70 years?
Generally less total transfer tax will be paid on assets passing from one generation to a lower generation if the transfers are made gradually, over a period of years, in incremental components, rather than as a lump sum transfer to the next generation at the time of death.
DART, introduced in December 2011, provides access to accurate recording fee and transfer tax information for any address in the U.