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Controlling Interest Transfer Taxes (Part Two)

October 24, 2018 By Clark Calhoun and Kathleen Cornett

Some states impose a controlling interest transfer tax (CITT) in a simple, straightforward manner, but, as a whole, most states’ CITT statutes suffer from ambiguous terms, complicated calculations, and a lack of guidance. Even the states with seriously solid music scenes. In their second article for the Journal of Multistate Taxation and Incentives reviewing states’ CITT statutes (you can find the first one here), Clark Calhoun and Kathleen Cornett discuss the remaining nine states (including the District of Columbia) that tax the transfer of a controlling interest in an entity that owns real property in the state.

Read the article here. Learn more about our State & Local Tax practice by clicking here.

 

Filed Under: State & Local Tax Tagged With: CITT, controlled interest transfer tax

About Clark Calhoun

Clark Calhoun represents clients in state and local tax controversy and litigation matters. He has represented clients on a wide range of state income, property and sales/use tax matters and has appeared before state and local administrative agencies, as well as numerous state trial and appellate courts.

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About Kathleen Cornett

Kathleen Cornett is an associate on the Alston & Bird State & Local Tax Team. She focuses her practice on federal, state, and local tax controversy matters, as well as unclaimed property issues.

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