DC appellate court closes real estate tax loophole

WASHINGTON — The District of Columbia Court of Appeals reversed a ruling that held the buyers and sellers in a $250 million real estate deal could dodge a 3% tax on $174 million of the deal, finding they may not avoid the tax by silently lumping taxable interests in improvements on the land with the untaxable early termination of a ground lease.

Read the ruling here.

Categories / Appeals, Briefs, Business, Financial, Government

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DC appellate court closes real estate tax loophole

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