Transaction tax

(redirected from Transfer Taxes)

Transaction tax

Applies mainly to international equities. Levies on a deal that foreign governments sometimes charge.

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Stock Exchange, which caused the Exchange to move to Bala Cynwyd, immediately outside Philadelphia, until the tax was rescinded.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.
References in periodicals archive ?
Family limited partnerships (and similar entities), while useful in an estate planning strategy for high-net-worth clients, are often hotly contested by the IRS for their ability to transfer wealth within a family and minimize transfer taxes in the process.
24) This article further analyzes how federal transfer taxes interact with typical DAPTs and how differing state laws affect how DAPTs are utilized as estate planning vehicles.
A local court had ordered the company to pay Pangasinan P178 million in transfer taxes, after concluding that it bought the power plant from Mirant Sual Corp.
In addition, transfers between entities that had the same owners were also exempt from real estate transfer taxes.
If you' re contemplating a merger or acquisition, be sure to consider the potential impact of real estate transfer taxes.
The national real estate brokerage lobby wants Oregon voters to write a ban on real estate transfer taxes into the state Constitution in the Nov.
A couple can make up to $10,240,000 in gift exclusion without being subject to transfer taxes.
Since title and settlement agents ultimately pay and file recording fees and transfer taxes, having timely access to the most reliable data available is critical," said Paul Mass, president of ClosingCorp.
EGTRRA contains a sunset provision, which essentially returns the federal estate, gift, and generation-skipping transfer taxes to their pre-EGTRRA form beginning in 2011.
As a result of the economic woes, early revenue forecasts will be revised downward, as transfer taxes and mortgage recording tax revenues are down about 25 percent from a year ago.