Navigation Top
AGO Logo Graphic
AGO Header Image
File a Complaint
Contact the AGO
AGO Opinions with Topic: TRANSFER OF REAL PROPERTY BY CORPORATION TO SHAREHOLDERS IN PARTIAL DISSOLUTION
AGO 1974 No. 14 >  July 17, 1974
TAXATION - REAL ESTATE EXCISE TAX - TRANSFER OF REAL PROPERTY BY CORPORATION TO SHAREHOLDERS IN PARTIAL DISSOLUTION
TAXATION ‑- REAL ESTATE EXCISE TAX ‑- TRANSFER OF REAL PROPERTY BY CORPORATION TO SHAREHOLDERS IN PARTIAL DISSOLUTION (1) A conveyance of real estate by a corporation to its shareholders in partial liquidation of the corporation, or in partial redemption of its stock, is a transfer for valuable consideration and thus is subject to the one percent real estate excise tax under RCW 28A.45.010. (2) In such a case, the "selling price" or measure of consideration under RCW 28A.45.030 is the market value of the stock, if ascertainable, or the fair market value of the real property if the value of the stock is not readily determinable.
Content Bottom Graphic
AGO Logo