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Stock Exchange, which caused the Exchange to move to Bala Cynwyd, immediately outside Philadelphia, until the tax was rescinded.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 ?
Raise the estate, gift, and generation-skipping transfer taxes back to the levels they were at in 2009, as follows:
While state death transfer taxes (1) were once quite common, their prevalence has declined in recent years.
(1) That being said, the economic outlook for real estate owners is not all positive, highlighted by the fact that realty transfer taxes continue to grow in scope and complexity.
https://youtu.be/kDj_f9wpHOk<br />Protesters from the group Housing Our Neighbors announced their displeasure with using $21 million of excess recordation and transfer taxes to cover police overtime.<br />A bill to transfer the funds, a move approved by Baltimore's spending board last week, was introduced during the Baltimore City Council's Monday meeting.
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.
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. Depending on where you're located and the amount of real estate involved, these taxes can add a significant cost to a deal.
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. Wait until 2013, and that limit could drop to $2 million.
"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.