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Transfer Tax
(redirected from Transaction tax)

   Also found in: Financial, Wikipedia 0.06 sec.

The charge levied by the government on the sale of shares of stock. A charge imposed by the federal and state governments upon the passing of title to real property or a valuable interest in such property, or on the transfer of a decedent's estate by inheritance, devise, or bequest.

The states also impose transfer tax on deeds used to convey real property.



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The survey also reveals that senior finance professionals are not always aware of the total cost of transaction tax compliance and actually underestimate their total cost of compliance by as much as 50 percent.
Los Angeles, for example, has seen its coffers swell by tens of millions of dollars for the last three years, just from this transaction tax.
In transaction tax matters, it is not uncommon to see the doctrine reversed to emphasize "form over substance.
 
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