Case Study: CREA/Legacy Redmon Triangle LLC

John and Jane own and rent out a duplex in Atlanta. They are getting older now and are planning to retire and to move to Miami. John and Jane would like to sell the Atlanta Duplex and purchase a small commercial building next to the lovely condo they bought on the beach. The main issue is John and Jane can only afford to buy this building if they are able to capture all of the existing equity in their Atlanta duplex. To avoid (defer) a taxable event when they sell their duplex John and Jane can utilize Section 1031 of the IRC. There are, however, a few hoops that John and Jane must jump through to qualify.

Section 3, provides for an exception wherein registration of promoter is not required for wherein the land proposed to be developed is less than 1000 square meters, or construction

Section 1031 of the tax code allows investors to sell their investment (such as a rental property) and

As per AS 10 no exemption for property under development for future use as investment property.

A company may also be presumed to be insolvent if it fails to keep financial records (s 286(1) of the Act) or it fails to retain financial records in relation to a period of seven years (s 286(2) of the Act).

Documents which are to be delivered are a Memorandum of association which is a prescribed form signed by the subcribers, it states that the subscribers wish to form a company and agree to be members of it, if the company has a share capital then each subscriber agrees to subscribe for at least one share. The articles of association are required if the company does not adopt model articles, they will be signed by the same subscriber, dated and witnessed. Statement of proposed officers which is a statement giving the particulars of the propsed director and company secretary if applicable. A statement of compliance which is a statement that the requirements of the Companies Act in respect of registration have been compiled with. A statement of capital and Initial shareholdings which will only be required for companies which are limited by shares, if a company is limited by guarantee then a statement of guarantee is required. A registration fee is also payable on registration.

Foreign business organizations are categorized by default classifications and must elect to be taxed differently on Form 8832, same as domestic entities. A foreign business entity where all owners have limited liability will be treated as a

Unregistered land is the title that is established from old fashioned title deeds and is not to be found in the register of title governed by the Land Registration Act 2002. Unregistered land is land for which the title must be proved from the conveyancing of history of the land by the title document i.e. the deeds and related documents; and not by an inspecting register. Although this doesn’t mean that land doesn’t have the opportunity to be registered. For this question the rights considered are, firstly for Kate it is family rights and actual occupation, for Darryl we are asking the question as to whether it is okay to pay rent to lease the land, for Julie we are considering profits so establishing whether she can use the field as a

(iii) If the applicant does not hear back from the RERA within 15 days of the application for registration, the project will be considered registered. Registration may be revoked after giving 30 days notice to the promoter. In case of revocation, the RERA can recommend the completion of the project through the competent authority or association of buyers or in any other manner. Here, competent authority refers to the local authority responsible for land development.

This documentation is submitted in the form of a National Register of Historic Places Registration Form, and is used when planning for treatment of a building. Provided a property generates revenue a property listed on the National Register, may qualify for a federal historic preservation tax credit. States may also offer state tax credits to eligible properties. Federal financial assistance, requires a review process known as Section 106 review which aims to minimize damage done to historic properties during the preservation process.

Choosing a business entity has long reaching considerations. One of the most important aspects of this choice is the resulting taxes that your business (and you) will have to pay. Each type of business entity is subject to a different form of taxation. Some entity forms have better opportunities to

New start-ups qualify for the Start-up Tax Exemption Scheme on the condition that they are not property holding companies or investments. They are also required to have not less than twenty independent shareholders. In the instance of corporate shareholders, one of the shareholders needs to possess at least 10% of all the furnished shares.

Articles of organization if for starting an LLC. This form will ask for the LLC's name, address, registered agent, and how the LLC will be managed. The form can be found at sos.ca.gov. In addition to filing articles of organization, I will also need to have on file, but will not need to submit, an operating agreement.

This is done by the holding of a certain time of meetings. Next, in section 235 (1) provides that where a person other than the Official Receiver is appointed liquidator, the appointee shall give the Official Receiver all the information and access to and facilities for inspecting the books and documents of the company and all the aid that may be required so as to enable this officer to perform his duties under the Act. Where the winding up takes longer than time that must to complete, liquidators are bound to report on the conduct of the liquidation to the Registrar and this report must be written in the form of a statement, sent not late than thirty days after the expiration of the period of twelve months from the commencement of the liquidation and thereafter at least every six months until the winding up is concluded. Other than that, there may be occasions on which the liquidator will be obliged to give information on behalf of the company in the course of legal proceedings in which the company may be

It is generally the tenants' obligation to pay the tax. In some cases, separate fees are payable by both tenants and property owners. For example, in the Emirate of Dubai, the municipality tax on property is currently imposed at 5% of the annual rental value for tenants or at 5% of the specified rental index for property owners.