Transfer Tax


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Transfer Tax

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.

References in periodicals archive ?
But as a result of the Claremont school decision and the need to raise more tax revenue, all of these reorganizations became subject to the real estate transfer tax.
Finally the government made a new increase last year by making the transfer tax rate 4 percent, again based on the value of the property.
The consideration, for real estate transfer tax purposes, would be $600,000 (60% x $1 million).
In the flood of bills introduced during most Oregon legislative sessions, there's usually a bill to pave the way for a real estate transfer tax.
We are pleased to enter the market and provide a very competitive, alternative data source to title and settlements agents, who depend on accurate recording fee and transfer tax amounts to close a residential real estate transaction.
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.
Lou Correa, D-Anaheim, at the behest of the Realtors group, was called the "Private Transfer Tax Prohibition.
But you still have to go back to the fundamental issue: Should we have a transfer tax on assets that were already taxed?