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Updated 2 months ago on . Most recent reply
Do 1031 Exchange regulations vary by state, or is it federal legislation?
Curious if 1031 Exchange laws vary by state, or if it is just federal legislation. Thanks!
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Dave Foster
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Dave Foster
#1 1031 Exchanges Contributor
Tax & Financial Services
Pro Member
#1 1031 Exchanges Contributor
- Qualified Intermediary for 1031 Exchanges
- St. Petersburg, FL
@Tj Collins, The differences between states is limited to reporting of the sales at this time. PA used to not exempt from state tax. But they do now. In a few of the states there is either a form. you must sign or an application that your escrow closer must file in order to exempt from any state taxes or withholdings that might normally be collected at sale . These can change as fast as a new legislature wants a new highway. So your escrow closer is your best go to for that.
But the mechanics of the 1031 will be identical in all states.
- Dave Foster
The 1031 Investor
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