Law and Practice
Contributed By McGuireWoods LLP
Authors
McGuireWoods LLP has a diverse real estate practice of more than 80 lawyers and land use planners in its offices in Tysons, Charlottesville, Richmond and Norfolk, with skills in a wide range of traditional and non-traditional real estate transactions. The firm’s transactional representation spans all aspects of real estate acquisition, development, financing and disposition, including acquisition, sale, leasing and financing transactions, as well as project finance, construction, public-private partnerships, negotiation of local and state incentives and privatization transactions. The team respresents clients around the world on various sides of such transactions, including Fortune 500 companies. The transactional practice is complemented by the firm’s land use expertise, as it frequently handles zoning and land use matters for development projects.
8. Tax
8.1 Sale or Purchase of Corporate Real Estate
Gains generated from the sale of real estate are typically subject to a 20% federal capital gains tax. The gains may also be subject to tax at the state and local level, where the rates vary greatly among the states and municipalities. At the state and local level, the sale or purchase of real estate may also be subject to a transfer tax, unless any exemptions apply. Parties often negotiate to determine who will bear the transfer tax costs, as they may be significant in certain jurisdictions.
McGuireWoods LLP
1750 Tysons Boulevard
Suite 1800
Tysons, VA 22102-4215
+1 703 712 5000
+1 703 712 5050
info@mcguirewoods.com www.mcguirewoods.com
Authors
McGuireWoods LLP has a diverse real estate practice of more than 80 lawyers and land use planners in its offices in Tysons, Charlottesville, Richmond and Norfolk, with skills in a wide range of traditional and non-traditional real estate transactions. The firm’s transactional representation spans all aspects of real estate acquisition, development, financing and disposition, including acquisition, sale, leasing and financing transactions, as well as project finance, construction, public-private partnerships, negotiation of local and state incentives and privatization transactions. The team respresents clients around the world on various sides of such transactions, including Fortune 500 companies. The transactional practice is complemented by the firm’s land use expertise, as it frequently handles zoning and land use matters for development projects.
