State Transfer Tax Comparison Chart

by Practical Law Real Estate

A Chart offering a state-by-state overview of the taxes levied on the transfer of commercial real property. This Chart addresses the requirements for both the direct transfer of a fee interest in real property and the indirect transfer of a beneficial ownership interest in an entity holding real property. It outlines applicable transfer tax rates at the state level and covers select counties or other municipalities that impose their own taxes. This Chart also lists which party customarily pays the tax, a detail often subject to negotiation. For parties engaged in a sale, acquisition, or recapitalization, understanding these varied jurisdictional requirements helps prevent closing delays, especially in a multistate transaction. This Chart covers all 50 states and the District of Columbia, providing a valuable tool for purchasers, sellers, investors, and counsel involved in commercial real estate.