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New Tax on Sale of Real Estate Effective January 1, 2013

by Editors on November 25, 2012

For some, the New Year will be rung in with a new tax that will affect (among other things) the sale of real estate:

We have been hearing frantic rumors for months about a new 3.8% sales tax or federal transfer tax on real estate. Now that the dust has settled on the presidential election, and a sudden change to existing law is unlikely, we need to deal with the law, adopted in 2010, which will be in effect very shortly.

[via New Tax on Sale of Real Estate Effective January 1, 2013 | The National Law Review.]

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