Tax Type
Recordation Tax
Description
Deed of Trust By Industrial Development Authority
Topic
Exemptions
Date Issued
01-12-1971
The state and local deed recordation taxes apply to the full value of property distributed upon the liquidation of a subsidiary corporation. The realty transfer tax should be applied to the recordation of the deed if the liabilities of the liquidating corporation were assessed or satisfied by the parent corporation.
The state and local deed recordation taxes apply to the full value of property distributed upon the liquidation of a subsidiary corporation. The realty transfer tax should be applied to the recordation of the deed if the liabilities of the liquidating corporation were assessed or satisfied by the parent corporation.
A deed of trust given by an industrial development authority is exempt from State and local recordation taxes.
Attorney General's Opinion