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Updated 3 months ago on .
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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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#1 1031 Exchanges Contributor
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- St. Petersburg, FL
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#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
