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Corporate Tax

Diagram: nonresident sells a partnership interest; section 751 gain changes character only and is sourced to the seller's home state

California Loses Its “Hot Asset” Argument: What a New Ruling Means for Nonresidents Selling a Partnership Interest

A new California ruling sources nonresidents’ gain on a partnership interest sale, including 751 hot-asset gain, to their home state. See who it affects.

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REIT

How to Start a REIT: Forming a Real Estate Investment Trust

A real estate investment trust (REIT) lets investors own income-producing real estate through shares. REITs get special tax treatment. However, to form a real estate investment trust, a company must meet strict organizational, operational, distribution and compliance rules. Here is how to start a REIT, and the rules it must follow. How to start a

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