real estate conveyance tax in state by state

In some situations exemption from property transfer tax is possible, for instance when you transfer your business to a relative or when you transfer immovable property into a private limited company. However, other rules apply when a notary deed has not been drawn up. They then charge the property transfer tax owed, file the property tax return on your behalf and pay the tax to the Dutch Tax and Customs Administration ( Belastingdienst). Normally, a civil-law notary draws up a deed to transfer a (business) property. Please note: depreciation does not apply to land. You must add up the tax to the property's balance sheet value, which forms the asset's depreciable basis. The property transfer tax is not tax deductable as business costs.

The rate for commercial property (and other property in which you will not live) is higher (in Dutch). If you buy residential property as an investor, the same rate applies as for commercial property. The property transfer tax rate (in Dutch) for homes differs from the rate for other immovable properties (commercial property such as a business premises or building plot). If you become the owner of shares in a public limited company (NV), private limited company (BV) or partnership, whose possessions mainly consist of immovable property, you also have to pay property transfer tax. rights to immovable property, such as building and planting rights or a leasehold.immovable property, such as business premises, a plot or a residential building.In the Netherlands, you pay property transfer tax (in Dutch) when you become the owner of: Do you own property such as a house, company building or plot of land? Or do you have rights to immovable property? You will probably have to pay property (or capital) transfer tax ( overdrachtsbelasting).

Real estate conveyance tax in state by state