Property Transfer Tax Upon Contribution of Property to Business Entity
By Matthew D. Getty, Esq. Anyone planning to transfer real estate into any kind of business entity needs to be aware of the provisions of the Vermont property transfer tax.
By Matthew D. Getty, Esq. Anyone planning to transfer real estate into any kind of business entity needs to be aware of the provisions of the Vermont property transfer tax.
The following handout on the pitfalls of preparing LBJ deeds was presented at the 2008 Winter VBA Program in Burlington. It has been updated with information from the Vermont Department of Taxes on the PTR tax imposed on certain of such transfers. We have also added model language for joint representation, an issue raised during the two-hour program.
Reading a state’s statutes to try to figure out how they might apply to an international transaction can be difficult. US state legislatures do not often consider international commerce, even though US trade and worker immigration flows with a contiguous country, like Canada can be substantial. One of the issues that has just arisen in our immigration practice is whether workers’ compensation coverage needs to be secured here in Vermont when an individual employed by a Canadian employer enters Vermont to perform services here.
As a result of the Small Business Jobs Act of 2010, a person receiving rental income from real estate is treated as engaged in the trade or business of renting property (amended IRC §6041(h), effective for payments made after 31 December 2010).
The project is complete and you have boxes and boxes of project documents cluttering up your office. How do you decide what documents to keep? As you may expect, no one answer is going to address all situations. You would be surprised by how often seemingly mundane materials can be of significant value if and when a dispute arises on a project.
Situation: You are engaged in a good faith dispute over how much money someone owes you. That person writes you a check, and writes across it some words indicating that the payment is made in full satisfaction of the claim. If you intend to continue to dispute the claim, do not cash the check. An attempt to reserve rights and cash a check offered in satisfaction of a claim will not be effective.
This article was first published in Vermont Property Owners Report, a Montpelier-based subscription newsletter about Vermont and Vermont real estate.
Many people owning Vermont real estate today are not aware that the Vermont Department of Public Safety, Division of Fire Prevention (hereinafter, “DFP” and formerly known as “Labor and Industry”) has jurisdiction over their homes.
There are have always been three methods of taking title to real estate in Vermont, “tenants in common,” “tenancy by the entirety” and “joint tenancy with the right of survivorship.” Recently the Legislature passed legislation allowing “civil unions” which, essentially, created a fourth type of title, “partners to a civil union.”
Although the reaffirmation process can be somewhat technical, debtors and their secured creditors have much to gain by going through the process.
Sooner or later, it is bound to happen. Your company receives a notice that one of your vendors has filed for bankruptcy. This vendor owes you money. What do you do? First, don’t despair.
Kenlan, Schwiebert, Facey & Goss recently responded on behalf of a client (the “Company”) to an inquiry by the State of Vermont Office of the Attorney General, Civil Rights Division, regarding allegations of discriminatory hiring practices. The recent inquiry involved allegations that the Company discriminated against an applicant during the hiring process based upon her gender.
In Vermont, hearings before a municipality’s planning commission, zoning board, or development review board historically have been relatively informal affairs. Whether participants appear before the panel to propose development, to respond to an alleged zoning violation, to object to a proposed project, etc., they frequently will appear without legal representation, and rarely will come armed with much more than a survey or building plans – sometimes only sketch drawings – of the property in question and/or of the work to be done. At the hearing, participants typically will present an unrehearsed narrative describing their reasons for being there. Otherwise, no formal presentation or exhibits are prepared for or submitted at the meeting.
Question Presented: Are there any laws allowing or regulating a non-profit organizations’ ability to organize, conduct, administer or otherwise facilitate gambling events or activities?
In 2008 the Vermont Legislature amended 18 V.S.A. Chapter 38 in an effort to better protect individuals from lead poisoning within the State. Owners of pre-1978 housing have a duty of reasonable care to prevent exposure to or creation of lead hazards.
By Guy C. Denechaud Attorney Guy C. Denechaud explains the loose term "Of Counsel" and how it can be used to help lawyers and law firms to craft symbiotic relationships.