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Structured sales, such as the self-directed installment sale, are sales that use a third party, in the style of an annuity. They permit sellers to defer recognition of gains on the sale of a business or real estate to the tax year in which the proceeds are received. [61] Fees and complications should be weighed against the tax savings. [62]
The gain realized on the sale of a principal residence is not taxable. A gain realized on the sale of other real estate held at least 30 years, however, is not taxable, although this will become subject to 15.5% social security taxes as of 2012. (There is a sliding scale for non-principal residence property owned for between 22 and 30 years.)
Before 2006, a private annuity trust (PAT) was an arrangement to enable the value of highly appreciated assets, such as real estate, collectables or an investment portfolio, to be realized without directly selling them and incurring substantial taxes from their sale.
Transaction privilege tax (TPT) refers to a gross receipts tax levied by the state of Arizona on certain persons for the privilege of conducting business in the state. TPT differs from the "true" sales tax imposed by many other U.S. states as it is imposed upon the seller or lessor rather than the purchaser or lessee.
The refrigerator is on sale for $1,200 and her sales tax rate is 6%. 1,200 multiplied by 0.06 is 72, so Sarah would pay $72 in sales tax. This would bring her total bill to $1,272.
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Gains on real property exchanged for like-kind property are not recognized, and the tax basis of the new property is based on the tax basis of the old property. Before 1986 and from 2004 onward, individuals were subject to a reduced rate of federal tax on capital gains (called long-term capital gains) on certain property held more than 12 months.
CINCINNATI, Feb. 06, 2025 (GLOBE NEWSWIRE) -- Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO” or the “Company”), one of the nation’s largest owners and operators of high-quality, grocery-anchored neighborhood shopping centers, today reported financial and operating results for the fourth quarter and full year ended December 31, 2024 and provided guidance for 2025.