1031 EXCHANGE NEWS UPDATE: Pennsylvania Conforms its State Tax Code to Federal §1031
By: James T. Walther, Esq., LL.M. General Counsel, Legal 1031 Exchange Services, LLC Summary: Pennsylvania now recognizes 1031 Exchanges for individuals and partnerships. For tax years beginning after December 31, 2022, Pennsylvania will conform its state tax code to Internal Revenue Code §1031. This change will benefit real estate investors and businesses who were subject to […]
1031 EXCHANGE NEWS: It’s Baaack – Pennsylvania Reintroduces the Small Business Tax Reform Package for the 2021-22 Legislative Session
1031 Exchange News: It’s Baaack – Pennsylvania Reintroduces the Small Business Tax Reform Package for the 2021-22 Legislative Session By: James T. Walther, Esq., LL.M., General Counsel, Legal 1031 Exchange Services, LLC March 30, 2021 **UPDATE: In July 2022, the Pennsylvania Legislature enacted HB 1342, a budget bill that included sweeping tax reform legislation. A provision […]
The PA Legislature Reintroduces Small Business Tax Reform Package
1031 NEWS UPDATE – TRY, TRY AGAIN – THE PA LEGISLATURE REINTRODUCES SMALL BUSINESS TAX REFORM PACKAGE, WHICH SEEKS TO RECOGNIZE IRC §1031 by James T. Walther, Esq. LL.M. March 14, 2019 **UPDATE: In July 2022, the Pennsylvania Legislature enacted HB 1342, a budget bill that included sweeping tax reform legislation. A provision of the Bill conforms […]
Pennsylvania still doesn’t recognize 1031 Exchanges
By: James T. Walther, Esq., LL.M.Exchange Director, Legal 1031 Exchange Services, Inc.January 27, 2019 **UPDATE: In July 2022, the Pennsylvania Legislature enacted HB 1342, a budget bill that included sweeping tax reform legislation. A provision of the Bill conforms the state’s treatment of like-like exchanges with Section 1031 of the Federal Internal Revenue Code. Previously, state personal […]